Are you looking for short or long term? Short term probably not much CG. I have one and been holding for 2 years. Yield is great and capital gain though is minimal so far. Long time investor here so not too worry especially with low holding cost. I believe a repeat of 2003-2007 cycle is inevitable. At least that is what I am betting on.
Thanks for reply, yeh thought that was the case. I bought for 295k 6% yield 312. Do you have other in area?
Hi Jjjb I purchased a 4 X 2 X 2 in bellbird Park in 2015 for $440K now valued at $460K in 2017. I think long term it will go ok.... Not Sydney Ok but OK.
Bellbird Park is an odd suburb. As far as Ipswich goes, it's a bit volatile and has seen some ups and downs that don't correspond with the surrounding region over the past decade. I'm putting it down to statistical anomaly driving rising and falling interest. Currently, it's a solid area seeing slow gentrification and MUCH more affordable prices than very nearby homes over the Brisbane border. It's a great value-driven alternative to property that isn't much closer to the city. It has a good name as far as Ipswich goes. I often get tenants and buyers saying they want Bellbird Park- NOT Redbank, Redbank Plains, Collingwood Park or....Goodna.
I am seeing new developments and new school in the area. It is changing and still affordable as you have said. One of the reason I bought was being close to the Brookwater and the resort (not sure if it is going ahead?). I drove there last school holiday, they are still putting up the sign.
I recently bought one in Bellbird, and another in Goodna. Both took about a month and a half to lease out (c.6.5% gross yield each), with only 1-2 parties at each open. Pretty weak rental demand if you ask me. Close to arterial roads, driving distance to brissie and Ipswich, Springfield nearby, non-flood, and high yield. In light of that, I'm happy to hold for the long run, esp given that I've fixed in my rates at 4.5% for 5yrs... Worth the punt to me
Thanks for reply , I purchased mine off the old owners which have been tenants since purchase roughly 1 years ago. So hope they stay in there from hearing your experience. Hope something decent price change in next 5 years finger crossed
Hmmmm that doesn't sound right, there's LOTS of demand out there- the problem is usually finding the right tenant....!
