QLD Ipswich suburbs

I think I've under-estimated the growth in inner Ipswich. From July last year average house price has increased ~ 50k, heading towards historical peaks. Happy to have had that little upswing, and I wonder if we'll see new peaks levels ahead.

For a place that has a lot more in the pipe-line regarding its liveability and development, plus it's ever increasing desirable lifestyle (people can afford their dream character homes) and developing hipster cafe/restaurant culture. I like it.

 

I'm seeing this upside in Ipswich as well. I just bought a new investment in logan last week but my next one will be another one in Ipswich I think.

Redbank plains to be exact. I'm seeing good things there and newish homes 4 bedders for around 350k or 3 bedders for $310k. Cant go wrong there.

 

I don't know much about red bank plains, but at the moment, it's the inner Ipswich suburbs that I like the most going forward. What's your rationale behind red bank plains. I feel like there's too much land and cut and paste development for my liking out there. No scarcity. I prefer existing suburbs and character properties in areas that have historical value when it comes to Ipswich. You can't replicate treelined street where all the houses are built in the late 1800s. Get closer to the Ipswich cbd I reckon. That's where the vibe is for me.

 

Because I already have houses there. Newish ones which offer me depreciation of around $7.5 - $10k per annum per house. Plus newer houses attract tenants easier so none of my places have never been without rent. Yeild is close to 6%. Older houses you wont get this especially the depreciation side of things.

Not to mention my land value went up around 15% within 8 months plus houses prices are growing steadily here. 3 bedder avg was 290k or so a several months ago. Then it was 305k in May, now its $308k. I'll bet next time RP data updates it will be over $312k.

So just by taking averages I bought a 3 bedder there for $280, newish house. Avg 3 bedder back then was $290k. So the avg has gone up $18k in approx 6 months.

Thats 6.2% Capital growth in 6 months. If it continues it will be around 12-13% per year. Cant complain on an investment I put ZERO cents into after buying it and positive geared from day 1.

 

Happy days. You know what product you want and have done well!
I wouldn't write off old properties to everyone on here though, you can get some great deals around. In-fact, from my experience, it's the older character houses that are renovated nicely that have better demand in both buyers and renters in this area. Mine rented out during settlement at a 6% yield straight off the bat. It has about 5k depreciation p/y and was built in 1880. It's also on one of the most prestigious streets in inner Ipswich and this is where o/o are flocking and character houses are being brought back to life left right and centre.

 

Looks like a subdivided , development , BUT , and that price , sounds cheap .

Maybe the owner wants it sold to a family who will keep it that way , not some greedy developer who just wants the money . Funny things happen .

Our second last place PPOR was on 3/4 acre ( in Wahroonga .... ) and the seller found the maintenance difficult and thought having 3/4 acre in the add would put people off . So he told the agent not to put it in . I saw the property , asked the agent how big it was and he said the size and told me the back story ( as above ) We solved the problem of maintenance by subdividing and selling half .

Cliff

 

For those interested "the largest redevelopment in Ipswich CBD in 150 years"

VIDEO, PICS: Ipswich Mall demolition in 'full swing'

 

Am happy with how my little one in Eastern Heights is chugging along at the moment. Have a few other things on the go at the moment but if I was looking to purchase, without doubt, I would be doing so in the inner suburbs of Ipswich.

 

For those who held IP or lived in Ipswich for the last 10 years, could they shed light as why Ipswich seemed fell more in last cycle... and took longer recovery from it's previous peak, as compared to wider Brisbane area?
Was it the flood? too much new build there? too far from CBD?

 

Looks like it gets flooded often...

 

That would do it too....

When we were in ipswich I was impressed at how deep the valley went below some places that had flooded ...

Cliff

 

I'll get on the ground.

 

"Cashed up and ready to buy in Ipswich" - moving west for lifestyle.

Cashed-up and ready to buy in Ipswich

$5 billion defense tender. Adding more money and jobs.

BREAKING: Ipswich to be Defence capital of Australia

 

Infrastructure and migration to Ipswich....

Could construction boom be coming to Ipswich?

 

It's surprisingly which areas of Ipswich flood, you wouldn't guess many of the spots at first. It also doesn't help that the council was very aggressive in flood-mapping, many properties that have never seen flood waters touch their boundaries were listed as flood-prone.

Redbank Plains is hit-and-miss at the moment, but I would hazard guessing that the area is bound to take off. The proximity to Springfield ($$$) to the south and the Warrego highway to the north puts it in a nice position. Hopefully that whole area (Goodna, Bellbird Park, Gailes, Redbank, Redbank Plains) cleans up as values rise as well....

I'm surprised to hear people reporting strong capital growth in old Ipswich, the values there tend to be quite stagnant. Yields have always been good though, and the area is nicer than people make out. It's such a pleasure to manage the character homes, and they're not always expensive to maintain.

 

Old Ipswich seems to be over-looked by many and a lot write off these old properties as too high maintenance, which just isn't true. With what has gone on in the last year and whats coming going forward, I'm a happy camper with my investment here and see plenty of upside. Especially with current yields, its so easy to hold. Infrastructure, redevelopment, jobs, amenity and lifestyle. O/o are seeing the opportunity and I think that has definitely contributed to the median house price growth in the last year (particularly in inner Ipswich). From the feedback I get from agents, it seems families and professionals are seeing these quirky old suburbs as a lifestyle option, at a quarter of the price of Inner-Brisbane. As long as Inner Brisbane keeps chugging along, people will keep looking further out to get the best bang for their buck. And interestingly enough, it seems people are actively skipping over other middle/outer ring suburbs to get into old Ipswich for the lifestyle opportunities. For an entry level price suburb, the right properties here in Old Ipswich represent a lot less risk than many other cut and paste houses in drab suburbia.

And your right, with the right DD you can purchase solid old world character homes with minimal maintenance. In-fact, in these old suburbs, at the current price-point, you can justify buying renovated properties, with all the big expenses taken care of, so as to avoid these issues going forward (or renovate if you know how to tackle these houses efficiently). Minimize risk. That's what I did with my 1890s build character house there, and with the yield an upside so good, happy days. I personally don't mind that investors are over-looking the area, because it's the O/o's coming in that are changing the stigma and appear to be emotionally pushing up the prices of most popular housing stock here. Keep em coming.

 

Good example of flipping a property in Ipswich. I missed on this property by 2k. Sold at 345k. The couple has done the reno by themselves. I guess 60k? Now selling at 340k, I think it is too much anyway. 15 Vivian Street Eastern Heights Qld 4305 - House for Sale #126264586 - realestate.com.au

 

Also good example a first developments coming up in the area...16 Glebe Street Booval Qld 4304 - Villa for Sale #126195590 - realestate.com.au

 

This is not bad even if I haven`t done much due diligence and is on the main road: 75 Warwick Road Ipswich Qld 4305 - House for Sale #126225798 - realestate.com.au

For whoever is looking to buy worth a bit of investigation

$250 rent can be raised to $300 I guess.

 

Looks like good bones.