QLD Ipswich growth prospects

Hi mate I’ve sent you the details.

Good luck

 

I can see Walloon having bigger block sizes and price range is < $300k

Having said that it has train station and all. Any opinion?

 

Walloon and surrounds have struggled to see any real activity for a long while now, despite the train, school and other amenities. It's a lovely area and I'm sure it's eventually destined to be a desirable area, but the question is when.

 

Which one that you end up buying @Skinman ?

 

Ended up buying in redbank plains in the newer end towards the south west.

When I say good I mean good structurally...to be honest if I was buying again I probably would have looked for something closer to Ipswich in an area with a bit more owner occupied appeal. Cashflow has been good on redbank plains but capital growth has been none existent so lost opportunity cost is high.

My tenant is just about to move out and PM has told me to prepare for a potential drop in rent!!!

 

Looking to make a purchase in Ipswich in a couple of months, I like the growth prospects and the projection for population growth over the next 10 years makes sense to buy and hold there for a cycle or two.

How has growth been there? Will most likely be targeting newtown, raceview and churchill as I like proximity to the city. 600sqm block.

Also any advice for PM's. Streets to avoid?

 

That's an odd mix of suburbs. Newtown is a nicer and more expensive area, Churchill is cheaper and generally more rundown, Raceview in the middle.

 

avoid the floody areas, wasn't that long ago the floods of 2011 were pretty devastating. Be careful close to Bremer River with lower lying areas. Good luck, I think your suburb choices are very sound BTW

 

Thanks, have been planning a trip down end of the year to get a scope for things on the ground. Will be looking at both ipswhich and townsville for IP2 and IP3.

 

@Skinman Hi Skinman. Could you please also PM the guy’s details to me. Much appreciated!

 

Done

 

Hi all,
This chain has been so helpful! I'm looking at Raceview, Yamanto and Flinders View for a property
Saw one I really like in Raceview but it has these massive cracks in the back yard, (like 1m long, 5cm wide ) which may be related to black soil.
Does B&P look a the garden area as well or would I need a separate professional to look into this?

 

I’d reckon if there is significant ground movement like that In the garden there would likely be tell tale signs inside the house. Hairline cracking, door jambs our of alignment with doors or even patio slabs moving away from main slab etc...It would be best as the B&P inspector before you engage them to be sure...I was also advised stay away from house with retaining walls in the area.

 

B&P will look at the garden too, but you do need to make sure you get good inspectors because some (possibly even most...!) of them will miss important details.

What sort of foundations? Houses on stumps are fine with the ground movement, you can just adjust things. The homes on concrete slabs are the ones at risk of big dollar fixes.

If you are seriously interested and there are strong indications of ground movement that's causing the house to move, you can get a structural engineer to look over it. I recently paid about $750 for engineers that specialize in domestic foundations to provide a report into movement- happy to send their details on if you're really serious (obviously no point spending the cash if you're not sure).

 

One important point is, if B&P comes clear doesn’t mean the house wouldn’t move again. We had purchased a property that had signs of some movements but settled. Was ok for about 5 years. Then moved again.

 

Hi everyone,
Thank you all I much for your advice and feedback!
We cancelled our contract- especially when the REA lied to me, then changed the story like 2 times (tried to blame the dogs - does the picture look like dog digging to you? then the dry climate, then apparently they only stay out in the front of the house so ’didnt’ know!)
It was really unsettling and thankfully our lawyer was able to get us out without any penalty.

Thanks again for all your comments- this helped us a lot in getting the right advice and avoiding a mess!
I wish I could upload the video we took where you can see an entire fist being able to fist through the cracks

I guess the lessen learnt is always view before you buy - we really liked the property from specs so had an offer in before viewing - as we couldn't make it to the initial one

 

Wow - those pics remind me of the mole from Caddy Shack!

 

Glad you got out of it...I wouldn’t necessarily say the above is true though. Most of the places we have bought I’ve never seen...I think the trick is get a team you trust including a good PM who will look on your behalf and then a B&P inspector who you trust. You can always walk away if a major defect is found. Good luck with the search.

 

Hi Skinman,
Can you please also PM the B&P contact
Thanks

 

Done