Property Clock - June 2016

Hi @Bran,
Regarding Redcliffe area - is this the general consensus on the forum?
Generally speaking why wouldn't you get into the Redcliffe market now?

I'm a big fan of Redcliffe and surrounds but I unfortunately slightly priced out of that market, and the yields didn't stack up for me either.

 

I was looking in that market (including areas such as Redcliffe and Margate) 12 months ago. Yields didn't stack up then compared to other areas. Entry price was also higher for generally smaller properties.

 

Hi @Taku Ekanayake - my mistake, I meant Redbank Plains. Mind you, I'm not that familiar with RP, I missed its time and aren't too enthused about the supply

 

yes, its certainly a down turn.
Some like these markets, no competition, low balling.
I am out

 

Agreed
Redcliffe appears cheap but the quality of the housing stock is woeful
Most of the houses are asbestos shacks and the ones that arnt you couldnt even swing a cat in them
A lot of crap for sale at the moment

 

I actually meant that previously I'm sure I saw Perth at "bottom of market" but now it's back up at declining market.!?

 

It doesn't necessarily follow from 3-6-9.
It can go all over the shop, not an exact science for them.

 

I'd be looking close to CBD, flood free, big block (maybe splitter) character housing. They do exist in the $300s - $400s. Good streets full of old Queenslanders in East Ipswich, Booval Silkstone. And once they are renovated a timber and tin house requires no more maintenance than a brick one.

 

I worked and lived in and near Amberley (15km from Redbank Plains)

I had lived in Redbank Plains (not be choice) and it hasnt changed much over the last 5 years.
I rented there from 2009 - 2011 and house prices have not gone up and neither has rental yield. Yet, surrounding areas have done well i.e the more favourable springfield lakes, augustine height, bellbird park. This has probably been due to the amount of land being constantly released, so if could afford 350 a week rent, why would you move into redbank plains which still classified by locals as a low social economic area and pay the same for springfield lakes.

Until these newer areas run out of land (Greater Springfield will be releasing land constantly for the next 10 years according Springfield Corporation and Ipswich City Council) AND those land values / rent is too much for new buyers, I think Redbank Plains will not be seeing much growth. Its more of a place to wait and see in my opinion.

 

I wonder why Springfield is going up relatively more. Maybe it's the new builds lifting prices. Long term I don't see that as a stronger investment than redbank Plains really. Once the shine wears off the new builds.Fairly cheap quality homes. Will become a place of cheap rent. Still far by bne standards. Redbank Plains probably has bigger blocks too with better seperation of houses.

 

Yeah I think the bigger blocks are a bonus and defintely see there could be a drive for them in the future. Greater Springfield has had a lot going into it at the moment - Orion Beach, Shopping Center upgrade, Private Hospital (Stage 1), about 15 schools etc. so that's certainly driving it albeit a bit slower because of release new land.

 

Good streets... Ipswich...
Does not compute

 

Have the people who make these jokes about Ipswich actually visited the areas I mentioned??

 

We will have to ask them - if they ever made it back alive.

 

Haha. I went to Ipswich and totally agree with you. I grew up in SW Sydney (similar to Logan in QLD i guess) and think that there are areas in Ipswich that are a definite step up. The street we bought on in Eastern Heights is somewhere I would live if push came to shove.

 

Doesn't that take the 'clock' out of 'property clock'?!

If you assert that a City is at the 'bottom of the market' and then six months later it is 'declining', well clearly you got it wrong the first time!

 

I know you meant "they", because I never get it wrong

 

Excellent! Finally someone who can GUARANTEE what the property market is doing! Now without further ado, prey-tell where Perth is on your property clock @Azazel

 

I have it on good authority it's somewhere between 12am and 12 pm.

 

Very well...
Still going down apparently, put it at 5?