QLD Ipswich, Gailes, Goodna, Booval, Riverview????

I flew up to see those two. Do you mean $250k each?

 

I thought it was both because of the way it was marketed but now I'm a little confused.
It was in the newsletter from RE.com's auction results (got down to Ipswich section):
https://www.realestate.com.au/auction-results/qld.html?rsf=edm:auction:old

 

Goodna got hit hard by the floods

 

I was also originally interested in Goodna because of the location however after talking to somee REA they advised of the higher risks because of of the socio demographic similar to redfern, Sydney and loads of govt housing.

Longer term i think it will clean up but will take some time.

 

I went for a little drive west today. Went to Redbank, Goodna and a few of the Ipswich suburbs.

I can't give any empirical evidence or explain it but the old suburbs in Ipswich just had more of a community feel - kids playing sport, people out cutting the lawn. I just don't get that in Goodna.

There are a lot of churches there so maybe Sunday wasn't a good day for a non statistical sample and everyone was indoors. Apologies if you live in Goodna and love it but that was just a feeling as I say.

Lot of property Reno - e.g Queenslanders being raised and extended in the inner suburbs Booval, Newtown, Silkstone, west Ippy,

 

Do you think the Ipswich central CBD area has the feel and the makings of a CBD sometime in the future?? Ive never been in the area and would be interested in what people think.

From what i read Ipswich is tipped to have the highest population growth around Brisbane and whilst much of this will be in greenfield sites i reckon the oldee areas close to stations and shopping would densify... (is that even a word

 

If densify isn't a word it should be!

I think a lot of people who criticise Ipswich have never been there. It has a real buzz about it and a lot of people who live there would never dream of visiting Brisbane. In fact I was talking to an old chap recently who genuinely pitied me for having to live and work in Brisbane.

And you are spot on re the inner character housing and the opportunities they present.

 

You know how popular Redfern is now?

My ex work colleague had a unit there about 2005 but he sold a few years back. He's kicking himself now!

Me, I bought in Darlington, a 4 minute walk from Redfern Station last last year... its doing awesome. Yes, there's still the Aboriginal tent embassy there but they don't hurt anybody....

 

This is my very good reasoning that puts me off ipswich

Pauline hanson

 

Is that where her electorate is in QLD ?

 

We live in Brisbane and bought a couple properties in Woodend in Ipswich which we bought based on proximity to the Ipswich CBD and all the proposed redevelopment underway plus the private schools surrounding it. Lots of colonial homes there are progressively being renovated and it is a nice area with a number of professionals residing there. I agree with the comments earlier that some of the outer suburbs on the way to Ipswich are mediocre in quality and streets-cape however cheap, just didn't have a good neighborhood vibe. We looked at Logan and surrounding areas also but felt the value and potential with the actual property itself was greater here. Our rational for Ipswich was affordability and yield but we tried too buy in a suburb that had most potential for CG as well. We have a number of friends who bought out this way before the last boom as for some reason we found a lot of Brisbane investors seem to look this way when interstate investors are buying up Brisbane. I guess it is a good entry point particularly for new investors without having to spend $500k plus in Brisbane. We took into account other peoples concerns about new land releases but this is still a ways out from the CBD and they are mostly small lot brick dunnies that are being developed so not apples for apples. Anyway we have great tenants and are happy for time to do it's thing.
I have noticed prices mildly shifting upwards in the area last couple months but usually trail Brisbane a year or so after because of the value - yield and price disparity to Brisbane which occurs.

 

Thanks for the positive post. I just had two offers accepted yesterday with some pretty good numbers on properties with good bones on the eastern side of Ipswich.

Im pretty bullish with the run that it will have over the next 5 years but at the same time not expecting too much. I think the area has been under valued and under appreciated since the floods and that has been affected its CG since.

What astounds me is that you can pick up properties with better numbers than some regional areas even though this really is just an outer area of Brissy.

I hear you about over supply but do think that ia constrained to the greenfield sites. The old established areas have limited supply drivers and some of the projected 200k people to increase in the region will want to live in the areas closer to Ippy CBD

 

I cant believe that about a week ago the tent embassy packed up and left. There one day, gone the next!

 

Good luck Qonyx

 

Unfortunately i pulled out of both contracts due to building and pest. Basically the inspection picked up that there had been significant movement in both properties and that there would continue to be ongoing movement which will result in very expensive repairs further down the track.

This made both investments unviable and partially explains the reason for the high yields and lower entry prices for the properties that i had offered.

Subsequently i am shifting my focus to some suburbs with more solid ground ;-)

I do think the area has some great long term growth opportunities however the higher risks of soil movement have put me off.

I'm sure there are areas that aren't impacted however as an interstate investor it would too hard for me navigate this minefield and this experience is a great example of why a B&P is an important investment!

 

Minefield. Yep similar

 

Interesting, I was looking at an older property on stumps in Ipswich and it was explained that properties on stumps are 'better' for the Ipswich area due to movement issue and newer, slab houses are more prone to cracking due to the soil movement. I decided not to go any further so I'm not sure what a B&P would have revealed.

On another (slightly related) topic, many of the post war houses are timber weatherboard. I thought with the termites and ongoing maintenance (regular stripping and painting of the weatherboards), that timber houses would be quite a turn off. What are people's thoughts on timber houses in Qld? Are the maintenance costs higher for the timber weatherboard houses?

Cheers,

 

It depends. Older homes have character hat is hard to beat and many people will pay more for that, regardless of extra work.

 

What's everyone thoughts on Booval? l'm looking at hopefully developing townhouses right next to Booval train station.

 

Bump - also interested to hear people’s knowledge/ experiences of Booval