QLD Raceview QLD 4305

What do you think of Raceview QLD?

I've been following it for a while now....and i've noticed in the past 3-4 months, the minimum rent went from $315 to $350 pw. That certainly helps with cashflow and sustaining mortgage payments.

 

Sorry, i didnt mention - i'm looking at 4 bedroom houses.

 

There's money to made in every suburb if you buy and sell at the right price but do some self research, something in the area might suit the amount of risk you want to take.

 

I’ve been watching Raceview for a while. Important to note that there are two parts to the suburb. The part that is closer to Easter Hights and the part that is closer to Blackstone/ Silkstone.

from smart property.

Overall. I love that area. I think it has good things coming up for it. Especially the part closer to Eastern Hights.

 

Just be careful of poor builds and reactive soils if you do proceed.

I had 3 under contract there in 2017 and they all came back with major defects on the B&P.

Don’t scrimp on the B&P if you get one under contract and make sure the selling agent doesn’t trick you out of it or tries to pass on one already provided by the vendor.

 

I have properties in Raceview. For best rent you need to buy the 4 bed 2 bath 2 car which is the bulk of the newer stock. Seperate living area you are going to pay about 325 to 330k, smaller stock (one living area) around 300 to 310k.

same rent for both size properties about 350 to 360 a week. See if you can get a good fence and if you allow a dog you could get $10 a week more. Do the sums on the above numbers and the property shouldn’t cost you much If anything out of pocket.

 

what street/area of raceview was this? so i can steer clear

 

There are holes underground throughout Ipswich from Redbank Plains to past Ipswich CBD from coal mining, it seems to be more extensive close to the river.

 

Mining overlay on the plan, can look it up on the Ipswich Council website. I’ve had no issues.

 

This info is bang on and valuations are correct. Stick to these numbers and get a thorough B&P and you can't go wrong.

I'd add 600m2 as a minimum.

 

How is CG going?

KEY PROPERTY DATA REPORT HOUSE
Median Price $315,000
GROWTH REPORT
Median Quarterly 0.88%
Median 12 month -5.69%
Median 3 years 0%
Median 5 years 3.28%
10 years average annual -0.07%
Weekly media advert. rent $340

 

Nowhere really. But it’s good to have cashflow positive/ neutral properties at the moment.

 

Ah the beauty of averages. There is no such thing as average property. If bought well under market it does fine. and there are plenty of under market opportunities in Ipswich.

Even if I bought an “average “ property. Cash flow is usually sufficient to pay for it P&I plus some leftovers.

 

Maybe. I wouldn't mind working on averages for this suburb

KEY PROPERTY DATA REPORT HOUSE - Bondi
Median Price $2,745,000
GROWTH REPORT
Median Quarterly 2.62%
Median 12 month 19.35%
Median 3 years 8.61%
Median 5 years 52.42%
10 years average annual 8.26%
Weekly media advert. rent $1297

 

Bondi and iconic suburb. Obviously not everyone can buy there. Let’s compare apples with apples.

Otherwise let’s compare Bondi to HK. Doesn’t look that stellar. Does it?

 

Don’t let’s turn another Queensland thread into a thread about Sydney please!

 

I thought we were talking about AVERAGES ... ?

 

That is not a good sign.

 

Exactly. An average of an Apple is different to an average of a potato. But obviously.... yeah nah.

 

On average. Could be not good. On case by case scenario could be great.
Opportunity is everywhere though. Logan, Darlinghurst. The definition of opportunity is very subjective.