QLD Ipswich

Discussion in 'Where to Buy' started by miscg, 29th Jun, 2015.

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  1. Lawrence Barnes

    Lawrence Barnes Well-Known Member

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    Good for you but it won't last. If you have a look at the capital growth figures for Eastern Heights over the last 10/15 years it's up and down. Clearly we are now in a growth phase at the moment but will then stall and no doubt drop again. I suspect interest rate rises will be the catalyst for this in a few years time. Did you buy a brick house or timber home?
     
  2. Lawrence Barnes

    Lawrence Barnes Well-Known Member

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    When I purchased in Eastern Heights back in 2010 I was rather unlucky as the floods hit in 2011 and the prices went south for the next 3/4 years. The house itself and area was not flooded but the whole of Ipswich was affected in negative growth. Brisbane had the same floods in 2011 and even the bad area's bounced back in 12 months. The Ipswich market is a lot more volatile than Brisbane when events occur like the floods. All I am saying is that there are better places to invest with are safer and more proven. I have been in the property market for 16 years now and now have assets worth 2 Million so I know what I am talking about. Anyway enough said and good luck with investing in places like Ipswich. Clearly you are doing better in this market than me :)
     
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  3. Mick Butterfield

    Mick Butterfield Well-Known Member

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    I bought a timber home, in a quiet street walking distance to the CBD. I looked at a lot of figures and read numerous reports prior to buying in the area. Nothing lasts forever be it price gains or losses, however, I am very happy with the cities fundamentals and prospects for growth in the future.
     
  4. Lawrence Barnes

    Lawrence Barnes Well-Known Member

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    That sounds good. I bought a brick home which went against my gut, but the property group I was with at the time all said go brick and tile for low maintenance. In 2013 I then bought another post war home in East Ipswich and sold that 3 years later for a profit of $29,000. Glad I did as the numbers now are not that great for East Ipswich at the moment for some reason.
     
  5. MikeyBallarat

    MikeyBallarat Well-Known Member

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    Bloody brilliant. Hopefully I can join the club soon, but I'm not made of cashola sadly :/
     
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  6. MikeyBallarat

    MikeyBallarat Well-Known Member

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    That's a common line of thought, but I don't reckon it's true! Brick can form cracks, get rising damp...it's a nightmare if you are purchasing anywhere near reactive soil. Weatherboard is much easier to repair. The hard clay boulder filled soils have done a number on many brick homes in Melbourne's west, weatherboard copes much better. I only own weatherboard myself (both PPOR and IP are weatherboard heritage homes) and I haven't had any issues so far.
     
  7. MikeyBallarat

    MikeyBallarat Well-Known Member

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    8% vacancy rate? The agent was telling porky pies
    Investment Property Newtown, Queensland, 4305
     
  8. eletronic_exp0430

    eletronic_exp0430 Well-Known Member

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    There is definitely not 8% vacancy rate in Ipswich. LOL

    I rented out a place in less than 1 week to an excellent tenant and had 2 other interested parties.
     
  9. Mick Butterfield

    Mick Butterfield Well-Known Member

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    Agreed. I believe the rental market is quite tight in the more desirable parts of the city.
     
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  10. MikeyBallarat

    MikeyBallarat Well-Known Member

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    I reckon Mr Agent got the calculations wrong and was aiming for 0.8% ;)
     
  11. Danmicb

    Danmicb Well-Known Member

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  12. Heinz57

    Heinz57 Well-Known Member

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  13. Danmicb

    Danmicb Well-Known Member

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  14. Lawrence Barnes

    Lawrence Barnes Well-Known Member

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    Yes that's a fair point and i agree with you. I tend to buy timber myself especially in Brisbane with the hotter weather. They are much easier to renovate as well and i think they have more character.
     
  15. Danmicb

    Danmicb Well-Known Member

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    Bit of Ipswich Spruiking

     
  16. Lawrence Barnes

    Lawrence Barnes Well-Known Member

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    Better than it actually is.
     
  17. Danmicb

    Danmicb Well-Known Member

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    :confused: Mate you’re something else
     
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  18. Lawrence Barnes

    Lawrence Barnes Well-Known Member

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    Thanks. Let's agree to disagree :), you are obviously an investor in the Ipswich market?
     
  19. Danmicb

    Danmicb Well-Known Member

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    Obviously. I know you have had a bad experience and your strategy here was a failure, but again, just because you lost money doesn’t mean anyone else is nor make it a poor investment because everyone is looking for something specific that fits their portfolio, a price point, yield, risk appetite the list goes on. You have your opinion which is great. I’m happy to agree to disagree, but you only have blanket negative comments for this thread that transcend more than just highlighting your mistakes. Rather than constructive criticism, half of your Ipswich comments are personal and not helping anyone. Rather than just highlighting your own bitterness for having the wrong strategy and buying poor investments, how about talking about what you’d change if you had to invest there again if you had your time over. That would be helpful to people looking in the area and you might even learn something from the responses.
     
  20. Lawrence Barnes

    Lawrence Barnes Well-Known Member

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    I already said what I would change in earlier posts. These area's don't make good investments. For example I purchased a house in Eastern Heights in 2010 for $319,000 and they were building brand new houses down the road for $350,000 so how can you compete with this. Just look at the average capital growth figures for any suburb in Ipswich for the last 10 years and they are around the 3.5/4% mark. Good quality suburbs in Brisbane are easily over 5%, the area's I have properties in return 6% growth on average over a 10 year period. Yes Ipswich has better yield than Brisbane but yield does not make you rich, capital growth is what makes you wealthy. You naturally take the comments as negative as you invest in Ipswich. When I was told my properties in Ipswich were no good I felt the same way and it took me a while to come to terms with it, but I knew it was right and needed to get out and purchase better performing properites otherwise I was never going to retire.
     
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