QLD Springfield Rise - Springfield your thoughts??

Hi guys,

I have been an avid read of this forum for sometime now. Thanks for your valuable insight. This is my first post and was hoping to get some guidance on the below:

We are looking at a house and land package in Springfield Rise. Apparently, we have been told that this is the last house land release for Springfield.

The product we are interested in is a 4 bed room house - $435,000 - land size 327 sqm (small I know) - rent guaranteed for 6 months

On paper Springfield looks good, as in it seems like the area is aspiring to be self contained - university, hospitals (pvt. & public), schools, commercial offices (GE Capital & I can't remember the other Co. based there), shopping centre, 2 train stations.

We are looking at this from a long term perspective - 10yrs or more.

I have been reading a lot about how for this price one can find bigger piece of land and it is better to go for an established suburb like - Narangba, Deception Bay, Beachmere etc.

What are your thoughts on this? Any inputs will be greatly appreciated.

Cheers

 

Give that 300sqm block in springfield a miss mate
Look in north redlands
Birkdale, wellington point or for a 800-100sqm block for 420k then look at alex hills or capalaba
Good ppor areas with not many investors

 

Just about Springfield Private Hospital. I work in the catchment there, you will probably never go there for anything. It's almost a glorified GP practice.. well not really... but it only has 80 beds and limited in patient scope, all private and no emergency facility.

Essentially if you do end up there, cause you hav private cover for a medical condition requiring admission, you'll have to first present to either Ipswich or Logan Public hospital. Same can be said about the tiny University of Southern Queensland, Springfield Campus.

It does have a shopping centre and a couple of (new) train stations, true. But I wouldn't say it's self contained by any means as tertiary education and inpatient healthcare, more likely than not, will have to be outsourced. Then if you do need anything... oh good luck with that, isolated in the middle of Ipswich, Logan and Brisbane.

 

probably a little melodramatic... i wouldnt expect too much capital growth from springfield however typically it does have a healthy yield. my property yields 7% gross and have middle income tenants which have never missed a beat.

i heard that the state government will eventually move ipswich based offices to greater springfield and there is a major data centre in the area - general electric, wells fargo bank, nec and other multinational businesses have gone out there... i don't think it'll become what north ryde is to sydney but the area isn't terrible.

personally 330m2 blocks feel pretty light for the money, i think there could be some better bargains that'll potentially have greater capital growth over in redlands or even ipswich proper.

 

Thank you all for your feedback, much appreciated. We might give this one a pass. I'm closey looking at - Morayfield, Deception Bay, Burpengary, Caboolture South, Narangba....

Can't seem to come across a decent property though in our budget...

 

Give it a miss and use the money to buy a heritage Queenslander in Ipswich.

 

Whats your definition of decent priperty?
No disrespect to anyone who lives in the areas you mentioned but they are outer suburbs and fairly low socio economic
You mentioned you were looking at a property for $437k which can get you into far better suburbs than the ones you have mentioned
Is this Ppor or investment?
If investment then you may need to rethink as a small block with a 4 bedroom metricon in an outer suburb f0r the same price as an old house on a block double the size and in a much better suburb for the same price doesnt make any investment sense

 

Thanks Strongly, we were thinking on the same lines as you and therefore we let Springfield one pass.

It is for investment and we will keep looking as we are interested in land size more then 500sq mts.