QLD Ipswich suburbs

was looking at a property noticed building has slightly moved (The pergola slab has moved a little away from the house), how serious is this issue?
Is it common around Ipswich area?
Would you try to negociate on price due to this movement or movement or suggest one should stay away.

 

We ended up buying three in ipswich when we bought in goodna . Market was pretty dead last year and several opens we turned up to only had us .

Personally I'd be buying close to the bottom of the market , though there are some areas with reactive soil and when you see the location of some places that are flood affected and you see how deep the valley behind the property is , I wouldn't want to be in those places when a flood comes though .

An agent I talked to mentioned there were lots more people going though open houses and the market seemed to be picking .

Logan and goodna seem to have moved more in the last year .

Best Buy we had was 199 with a 270 rent .

Cliff

 

Ipswich Proves Frontier In Affordable Housing - TheUrbanDeveloper.com

Some interesting points in this article. You can still buy huge glorious Queenslanders on large blocks, in exisiting suburbs close to the CBD for under 400k! 300-350k unrenovated! With a low vacancy rate and yields at least >6% still relatively easy to come by (but getting harder), it represents good value and potential furture prospects imo. As people continue to flock out west following the jobs and the still cheaper beautiful houses, these well located quality character properties will continue to grow in demand.

Next 5-10 years will be interesting.

 

The things you highlighted were the main reasons for us purchasing there earlier this year. I am quite bullish on the cities prospects and am confident that there will be a good amount of growth in the near to mid term.

 

This is exactly why Ipswich will be my next purchase.

 

"A Local Government Area breakdown shows Ipswich, where house prices grew by 0.5 per cent, was the strongest growth region over the quarter."

Brisbane house and unit prices drop: Domain House Price report

Did i read that right?

 

I feel that Ipswich as a City is not taken all that serious by a lot of people. After doing my DD in the 3 main low socio economic areas in the greater Brisbane region (Ipswich, Logan and Moreton Bay) I found it the best mix of buying conditions, ROI and future prospects. I can also see myself happily living in some of the areas in the City. I wonder when./if it gets taken a little more serious. Again I may be way off.

 

It depends on the degree of movement and how easy it is to eliminate the cause of movement.. Worst case the patio could be very poorly built and requires rebuilding.

Actually yes, as an engineer who attends to properties with ground movement issues I've found there's a few areas I attend to again and again.. Collingwood Park in the Ipswich area, Waterford West in the Logan area, and Caboolture are all hotspots..

If you're not sure, I'd give it a pass..

 

Ipswich is a great city to live in, regardless of price of entry. It will be taken seriously, it's just that at the moment Brisbane prices are so cheap relative to Syd/Mel that people haven't really bothered looking at alternatives.

However, once prices rise and young buyers are forced out to the Inala/Oxley/Darra type suburbs, they'll think to themselves...if I'm priced out of inner city Brisneyland and have to live in the outer suburbs, why not travel 10min more and grab a Queenslander on huge land in the Swich?

Ipswich rules.

 

Which makes the near term a great time to grab a bargain. I'm think of getting another, like @Mick Butterfield.

I was able to secure a recent deal with made money from day one. And was leased out within 3 days, before settlement. Ipswich is one to keep an eye on.

 

So, I was half-looking at this house myself, it went under offer and then the agents contacted me saying it was back on market. Listed for 199k+, needed re-stumping I was told. It was a busy period for me work-wise, so I haven't followed up on this.

The house sold for $185k

10 Madden Street, Silkstone, Qld 4304 - Property Details

Whoever bought it obviously negotiated full access prior to settlement, put a new kitchen in and did a cosmetic reno inside and out plus re-stumping. The house was back on the market straight after the settlement, advertised for $319k and it went under offer within a couple of weeks.

10 Madden Street Silkstone Qld 4304 - House for Sale #123933030 - realestate.com.au

A quick flip worth doing? I guess it depends on how much it got sold for the second time around...

 

Gotta love that ripple effect. Keep up the good growth Brisbane suburbia, Ipswich investors thank you in advance.

http://www.couriermail.com.au/reale...g/news-story/22c8b361fc3eb71d5f457763f500adea

 

Holy moly. So cheap.....

 

“That bad image of Ipswich is really changing on the back of people that are moving there,”

It's whats happening on the ground that counts. I also think it's near impossible to talk about Ipswich as a whole, so many markets and varying risks, some suburbs I wouldn't touch with a 10 foot barge pole. I think there will be less, if any of an effect, when changes to the FHO grant take place next year (I'm talking about the inner CBD character suburbs). Like it the article says, its a different clientele moving to the area now.

Ipswich tipped to continue to be attractive to first home buyers but will it last?

 

Talking about Ipswich as a whole is like talking about Geelong as a whole...the only people who talk down the whole of these cities are the biased types from the big city up the road. As far as I'm concerned they are the ones missing out!

 

My take on Ipswich is that it does well when Brisbane does well. It doesn't run independently that I have seen. Ipswich has interest at the moment because its affordable for those searching in the Brisbane 'area'.

 

Haven't checked the specifics of the property listed in silk stone , but when I was looking there , anything under 200k had serious issues , flood prone , reactive soils , major structural problems .

For 185 for what looks like a substantial home , I'd be wondering what's wrong with it .

Cliff

 

Nothing wrong with it if you buy for 185k, renovate and two months later sell for 308k

10 Madden Street, Silkstone, Qld 4304 - View Sold History & Research Property Values - realestate.com.au

Somebody bought it as an investment, listed for rent at $330/week now. Around $25 CF negative per week probably?

10 Madden Street Silkstone Qld 4304 - House for Rent #419981602 - realestate.com.au

 

Di you do this ? If so, very nice
If you did this, what were your costs ?

Been looking at those style of house to do similar.

thanks.

 

No @TadhgMor, not me. At least 50k profit before tax is my guess for this one