QLD Thoughts on Richlands in Brisbane?

Discussion in 'Where to Buy' started by StunningWill, 8th May, 2017.

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  1. StunningWill

    StunningWill Well-Known Member

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    Hi all,

    I can't seem to find much discussion on Richlands here which is located about 16km south west of Brisbane CBD. My close friend who is a property advisor has offered me some 3-4 bed OTP townhouses in Richlands from a developer who they bought in bulk. As part of the deal, these townhouses will get high end appliances and curtains, as part of the package.

    Apparently there are a lot of jobs coming in the area in the next 2 – 3 years.

    I wanted to know peoples thoughts on Richlands in the next 12 – 36 months? I plan to hold for at least 5 – 10 years.

    My first area that I have been looking at was Morton Bay around the Uni precinct; should I stick with this?

    Thanks.
     
  2. jaybean

    jaybean Well-Known Member

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    Lots of surrounding land right? That can't be good. Is that the one near Inala?
     
  3. ndpjai

    ndpjai Well-Known Member

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    Stick to your initial moreton bay uni precinct research and tell your friend\property advisor politely that you will buy and install high end appliances and curtains on your own in your to-be house rather than a brand new 3-4 OTP townhouses.

    Richlands is not a bad area by the way, if you can buy an established house with land content within your budget go for it. Good luck.
     
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  4. StunningWill

    StunningWill Well-Known Member

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    Yes it's next door to Inala. I have read about Inala as well. I heard Inala has a lot of asian grocery shops. Would this drive prices up as well overtime like the areas in Sydney that have a strong asian influence, or am I way off in the demographics in that area?
     
  5. jaybean

    jaybean Well-Known Member

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    It's no Sunnybank but Vietnamese are extremely hard working and love to invest so I imagine this will have a positive effect over time. I considered buying near the Inala shops a few times but prices have gone up too much in the last few years.
     
  6. Marg4000

    Marg4000 Well-Known Member

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    What jobs exactly?
    Marg
     
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  7. StunningWill

    StunningWill Well-Known Member

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    Has anyone seen this video on Greater Springfield which is next door to Richlands? A lot of jobs on the way apparently.

     
  8. Gockie

    Gockie Life is good ☺️ Premium Member

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    I don't think it's going to outperform. It's kinda middle of nowhere....
     
  9. Marg4000

    Marg4000 Well-Known Member

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    Springfield is quite a long way from Richlands by Brisbane standards and would never be described as next door. Next door to Richlands is Inala or Ellen Grove.

    And there are still huge tracts of land waiting to be developed a lot closer to Springfield.

    And the nice video? Always beware of developers promotional videos!!
    Marg
     
  10. vbplease

    vbplease Well-Known Member

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    If a "close friend" offered me an otp townhouse in Richlands I'd be questioning the friendship..

    No doubt they're $500k, at least? I'd be spending that money on a house with land 10k from the cbd (e.g. Mount Gravatt East, might even sneak into HP/Carina).
     
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  11. strongy1986

    strongy1986 Well-Known Member

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    Lol

    Hows that saying go? Something about friends and enemies??

    Will, you should be definitely be looking at a house in Brisbane for around the 500k mark
    Exception would be a townhouse in a top suburb.
     
  12. vbplease

    vbplease Well-Known Member

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    Keep your friends close, and your enemies closer?
    or who needs enemies when you have friends like that? ;)
     
  13. StunningWill

    StunningWill Well-Known Member

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    The townhouses go from about 375k for 3 bedder and 405k for a 4 bedder. Does everyone in QLD prefer a house over townhouse? Some people don't like the idea of maintaining the front and backyard.
     
  14. StunningWill

    StunningWill Well-Known Member

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    Greater Springfield?
     
  15. Gockie

    Gockie Life is good ☺️ Premium Member

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    That's not really the point... the land should appreciate long term. Land can often be split or developed whereas you can't really do that with a singular townhouse property. Developers can build more townhouses everywhere, including where freestanding houses used to be. The supply of (well located) land is limited.

    Ps. If you buy the townhouse, you will be paying the developer's margin. I think you won't have too much capital growth because the product isn't special enough. The location isn't good, the product isn't something amazing. I'd give it a miss.
     
    Last edited: 10th May, 2017
  16. StunningWill

    StunningWill Well-Known Member

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    Point taken and totally agree.