QLD Ipswich suburbs

That's a nice flip, but looks like they spent quite a bit on the refurb. Stumps, kitchen, bathroom, floors, paint, fencing. 40k+? Still a nice margin if it sold for say around 300.

 

Anyone who owns in and around Ipswich seeing any growth the last 12 months? realestate.com.au saying 11.5% growth for Brassall which works out if you look at previous sold listings.

 

Hey guys, did you notice where Ipswich is on the property clock?
Approaching Peak of Market
What`s your take? Same position as melbourne and sydney...

 

It moves around a bit. I don't think its anywhere near peak of market personally. It will feed off the growth that Brisbane gets when Brisbane moves more. Certain Ipswich suburbs have already moved a little. Brassall recorded 10% growth last year. I don't think they will slow though, steady growth in line with Brisbane.

 

What's peoples take on properties 'sort' of flood effected. Ie sloping block that shows a slight bit of the 74 floods touching it but the 11' floods a fair way off. House (high set) would have been un-effected.

I'm also looking at this market and personally like Eastern Heights, Newtown etc.
Though the other side of the river close to the CBD could be a good option to, though I haven't check this area out yet first hand.

What is peoples thoughts on Sadliers Crossing close on the West side of the CBD?

Current prices don't seem too much more, if any other non-flood effected options further out from the CBD, which to me means the properties closer in should surely start moving soon?

To me the appeal of these inner areas is the character type homes. The pockets that have a few refurbed look really nice, and as this trend perhaps continues will no doubt drive the suburbs up.

However what I have noticed is these type of properties are now asking a fair be more than 'plain jane' options. As an IP is this worth it? I figure an older (Possibly 1800's) house is going to need more ongoing maintenance, and probably won't rent for much more? As such holding costs could be substantially more.

 

As I have said before, check the 1893 flood maps if you want a reality check.

I wouldn't.

Also suburbs untouched in 1974 flooded badly in 2011 eg Bellbowrie. An acquaintance told by council her home was safe watched her children swim for their lives from a top floor window.

 

Hello all. I am currently looking at this area as an investor from Sydney. However, When i do a bit of research on onthehouse.com.au a lot of properties i look at have gone down in value. Is my research correct, or am i missing something here? The areas i punched into onthehouse.com.au are Ipswich and East Ipswich.

Thanks.

 

Heinz57, would 1893 be relevant? There was no flood mitigation back then such as Wivenhoe Dam. Partly the issue in 2011 was the management and water control of said assets.

Mercthunder, that is a good point. I've looked at the stats and the seem to indicate this too. It seems that the real close suburbs aren't really moving or not much now but a little bit out they are. This doesn't make sense to me as usually it's a out flow effect from the CBD.

So this either means its just pause closer in for a period, and once the increased values out futher have been realised inner suburbs should in there react and push upward? Or this 'flow' has happened and inner is already done and the other about spent?

 

Good point, but go to the old naval stores ("Riverlife") under the Kangaroo pt cliffs and check the flood markers and see how confident you feel! A cyclone or 2 can create a 'perfect storm'!

 

Your research is probably correct. Like most Brisbane suburbs, it's been in the recovery phase from the gfc and floods. Hasn't come as far as other council areas yet, but history suggests it does trail them

 

"The gap is still far too far, it's time for another correction for Ipswich house prices to close the gap.

"The gap closed in the boom, where Ipswich did better than most Brisbane suburbs as far as a growth percentage but then after 2008, we sort of hovered until now but Brisbane has been steadily climbing so the gap is there again."

He said the price disparity between Ipswich properties and Brisbane suburb property prices was closing fast.

"I believe it's happening right under our nose and we don't realised until a year or two time when we stand back and look at what's happened," he said.

'There will be no such thing as Ipswich houses under $250k'

 

I don`t see this massive growth in Ipswich. Just organic growth like all the other suburbs in Brisbane. REA are trying to pump the prices up with no much success at the moment (mainly talking about central areas). Listing price gets reduced by 10k/20k everytime unless they are lucky enough to find the emotional buyer. The Queenslanders stay on the market for a long time if not priced well. Ipswich is a big suburb and very hilly, also good luck if you buy far from the town centre. It is still a suburb far away from the CBD with nothing after that. Also a lot of properties with black soil, mining and flooding issues. Good thing is that the entry point is lower compared to the rest. REAs (especially Ray White) get excited as soon as they see a bit of traction.

 

Interesting. Though to me it makes senses to be somewhat wary of local agents talking up their backyard .

Having been watching this market I feel that either sellers and/or agents are quite optimistic on some properties. Giving more of an appearance of movement than actual? There's still stock that's not badly located, or even with major issues that's been sitting for sometime.

Here's a pretty optimistic example in my opinion.
20 Merrell Street East Ipswich Qld 4305 - House for Sale #124479314 - realestate.com.au
$329k Flood effected on a tiny block and with work needed. One thing I've learnt is that if you can see it needs work (painting/whatever) on the listing pics it'll need more than you think upon inspection.

You'd rent it for maybe $300 at best.

I'd personally take my $329k 15kms + closer to Brisbane CBD and get near 2x the block size, non flood effected, with less maintenance or work needed and net $350/week rent with better current and historic growth.

There is certainly opportunity in this market, but you have to buy really careful. Having ditched a contract out there once things really didn't start adding up, I know this first hand.

I think the real sort after grand character homes (ie big open verandas etc), on decent blocks, the sort of thing people love close into Brisbane is the appeal of Inner Ipswich. If you can do it to a good budget there's still good opportunities to work with such houses and net gains.

While not grand, it has potential as does the block. 49 Frederick Street, Newtown, Qld 4305 - Property Details
Sold for asking $269k, on a block that's well over double the other, and split-able. Located well out of the floods, and much better located in general.

 

Guys,

Hopefully the recent floods will not affect much people with interest in the area.

Ipswich mechanic cleans out entire garage

Ipswich pensioners helpless as man cave destroyed in flood

Do you reckon the floods can be a killer of the growth phase for the area? From the point of view of an inexperienced investor I would say yes. Looking to historical data it looks like flood -> rebuild -> flood. All the suburb close to the city centre are flood affected. How can you push the economy if every here and there there is a flood and you need to start again? Who is going to open a new business there? Doesn`t matter if your property is not flood affected, the local economy will still be affected. To me it looks like more gambling (e.g. hope there will be no floods) than investing, but again I would like to have your opinion.

Is it possible they cannot do anything to mitigate the risk?

I have been looking closely to the area recently.

 

@Heinz57 where can you check the 1893 flood maps?

 

Hi Congratswitb your new IP.

Would you mind of sending me those reports as well. As I'm considering to buy one too. Thank you

 

I purchased a nice clean 900sqm corner block in Ipswich April last year with the intention of putting a GF on it. However, due to a few personal reasons didn't proceed with it and only started looking into it again recently.

I just found out from a local PM, however, that the vacancy rate in area is currently hovering around the 8% mark(?!?) and so am reconsidering the GF idea. The block is also suitable for a subdivision/build so am carrying out due diligence into that as well at the moment.

The annoying thing is the property has seen next no NO growth over the last year. RPData's auto valuation report spits out the same figure as it did last year. I wasn't expecting double digit growth ala Syd/Melb or anything but pretty much zilch? Fairly disappointed tbh!

Here's to hoping I'll manage to manufacture some equity via one of the value-added strategies above but some upward market movement would be a nice bonus!

 

Hi there,

Could you also send through information regarding Ipswich?

Thanks!

 

"House prices in Ipswich are skyrocketing and its growth outstripping every other region in Queensland, including Brisbane, the Gold and Sunshine coasts.

The Domain regional house price report shows Ipswich house prices increased by 6.3 per cent during the March quarter –a massive result compared to the rest of the state, where most house prices fell."

....

"Young couple Ashley and Priscilla Payne saw the value in Ipswich after they sold their house at Stafford Heights in Brisbane earlier this year. They wanted a forever home and couldn’t justify paying Brisbane prices, Mr Payne says."


Ipswich records highest growth in house prices in Queensland

 

I'd love that to be true ( we have three there ) , but will need to see some confirmation in next months .

What might be happening is at the bottom of the you can still pick up reasonable places in the low 200's and you can't do that in the other cheap areas such as goodna or Logan .

We picked up places at that price in goodna but that's around 18 months ago and goodna has jumped up since then taking those over 250 .

We might be seeing that process in action and if that's the case we might see those properties move over 250 this year .

There will still be places under 250 for a while , but those will be flood prone or on " reactive soils " and IMHO they're not worth the risk .

Cliff