I am looking at investing for the first time and was considering Ipswich as it is expanding and getting all the relevent infrastructure etc. The only thing is I have been told that there are good areas and bad ones.
Can anyone shed any light please???Hi Rekooh01
If you are considering an investment property the last place I would go is Ipswich!
The town at this point in time is full of investment properties and all the sharks that feed in the pool.
Granted there are some good opportunities but the rents are not so good and the capital growth is a little slow.
The mayor of Ipswich is a real go getter and he is doing all in his power to make it a great place, but until the new towncentres surrounding the area start there is going to be a slow period.
The corridor between Brisbane and the Gold Coast is a lot better and then there are the mining towns of the Surat and Bowen basins.
BluegrassI second Bluegrass. Ipswich is a dead loss. I drive in and around the area everyday and as a fellow investor I would avoid it .Unfortunately my job takes me there and that is all. Have a look at Springfield , still comes under the Ipswich Council and quite a bit going on out there .Probably more expensive but better area.
Good Luck
thanks very much for that people. It's interesting that you suggest the Bowen basin area as we were also looking at Bowen itself.
Comments???Hi rekooh01
Bowen is the unsung area of North Queensland and on the coast looking at the Whitsunday's!
We are selling a lot of product up there at the moment.
If you hold interest in more info. please send me you email address and I will forward you our info package.
Regards
BluegrassA quick note about Ipswich…
Some areas are affected by old underground mine shafts. Houses have sunk and people have walked out of their back door to see a huge hole in their back yard that swallowed the clothes line etc.
You need to check the area you considering isn't in the problem zones.
Cheers,
Warrenps – Camira is near Springfield and I think many of the homes there are good priced. They have small and large blocks too. Some are being subdivided.
I disagree!
Ipswich is a great place to invest depending on strategy. The area is rapidly growing, major investment in the way of infrastructure and employment opportunities. Amberley will be become a mega base and citiswitch will bring huge employment opportunities as well as the Ebenezer Business park. It will become to Brisbane what Parramatta is to Sydney. The council is doing great things!
While Ipswich has seem some fantastic growth in the past 10 years, rents still have not caught up. So at the moment it is hard to find good cash flow properties. However I think the next few years will see good rent rises and while it may not boom, good steady growth will result.
Last week Lomas spoke on the radio and highlighted Ipswich and Gatton as good investing. Gatton is having a prison built which will boost that town. Ipswich East is still undervalued. Sure there was mining underground but there are mines under many Australian towns. Collingwood Park which is a fair way out of Ipswich city had subsidence issues last year. Just be mindful of the areas which have subsidence or black soils. Collingwood park has had subsidence issues for years, so if investors bought there with it's history perhaps they didn't do enough research.
I always have my eye on Ipswich.
Ipswich yes but look for 2/3 year old stuff on realestate.com.au
Stay away from Collingwood park it will be impossible to sell in the future, go talk to Herron Todd White valuers. Ask for a black soil report and think of resale when buying in this area.
Deal with local real estate agents and not property marketing companies.
Doral is a great spot with 4000 m/2 land allotments and strong rental.
Stay away from the Whitsunday's it has gone backwards, Proserpins, cannonvale, airlie and shute harbour are all ten year punts … no international airport is the down turn point..
Bowen be careful of location but near the new marina could be a LONG term shot.
D
I think you have to look at each deal on its merits and not generalise a whole area or town as good deals everywhere like apples falling off trees you just have to know how and where to find them, and put int he work and know what you are looking at.
I just picked up a site on Friday that has substantial profit it even in the current market with conservative calculations and it is in IPSWICH- I shall subdivide off 3 blocks, sell the house on it and sell the blocks off the plan.
I dont care where I buy as long as the deal stacks up and so does the due diligence- I bought a dump a few months ago for $200k- did a 28k reno on it, 3 mini skips of crap to clear things and sold it 10 weeks later for 330k! You need to look at the deal and you make your money when you buy- so look at the opportunity, how to add value, what you can do, do research, speak to lots of agents, call valuers, look at recent sales.
Also you have got to work out if you are trading property, or keeping- but I use my trading strategy in all different areas to pick up money for my bank and then use my $$$ to buy my holding stock in very good area.
Hi all….
I live and invest in Ipswich myself, and will certainly consider some buy and holds out here should anything become available that I like.
The council website has plans on it about where all the old mines are, and that can be quite helpful. There have been some horror stories about houses just plain breaking in half, so if you're going to lose sleep over it then it's not for you.
Facts are that Ipswich IS one of QLDs fastest growing areas, but if you want capital growth out here you've got to look at the suburbs close to the city (cough cough) of Ipswich itself. Any of the newish developments have hectares of vacant land all around them in every direction. You buy something out there because someone sells you on the idea of all the deductions you can claim on your new place, then you find yourself a year later having to sell for some unforseen reason. Meanwhile, the developers are putting in another street of new houses every day and selling them for the price you paid for yours – or even less because of the excess stock. You find yourself upside down on your mortgage because you can only get $300 000 now and your debt is $350 000 and you have to call in a vendor finance expert such as myself to get you out of the mess!!
I know this sounds extreme, but if you buy the wrong property in a new development anywhere, it happens more regularly than the locals out here bathe!
If you're buying in Ipswich, buy a solid established house in the 4305 or 4304 postcodes – at least ten years old and probably more like 50!. Do not cheap out on your pest and building inspections. Check out the old mine plans on the council website. Consider getting soil stability tests. Think really hard before buying a brick house. Old houses can lose one stump and just bend a bit and they're fine – brick houses just crack in half and fall over!
Also, think hard about your timing. At the moment the inflated FHOG is keeping prices up out here. When the FHOG deflates and interest rates increase, do you think that could have an effect on prices??
Work hard and expect success!!
Andrew
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