Ipswich Hot property

D

DCI

Hi all just interested to find out particular areas that people have invested in, around Ipswich. Some pretty big stats on four page story in Australian Property Investor about amazing population growth for Ipswich. Population growth estimated at 9000 people per year for the next decade and 11 billion worth of development taking place within Ipswich. We bought in Woodend Ipswich CBD a couple of years ago, but curious to know where others have bought:) and if it has been a good investment for you?
 
I have IPs in North Ipswich & Tivoli, purchased Aug 07 & Feb 08. Nth Ips purchased for $230000 worth $270000ish now, Tivoli purchased $290000,not sure if value has changed only been a few months.
I hope prices stay strong with the huge improvements planned by State Govt.
 
We brought in Raceview Aug 07 (in a hot market)& it has increased around $30k since then.

With all the growth happening out there & all the write ups in mags like API etc saying Ipswich will become the equivalent of Sydneys Parramatta, it is looking like a nice little buy & hold area.

Good luck in your search.

Cheers
Stella
 
Considering how much money the government & the local council are investing in the area, it has to be a good thing for the region to go ahead after being neglected for so long.
I think the 'dodginess' associated with Ipswich will diminish over time as the region develops and the area is seen as a viable alternative to Brisbane.

The Ripley Valley development is just down the road as well and is supposed to be huge - another Springfield type of development.

The only concern I would have is the amount of vacant land surrounding Ipswich however this doesnt seem to have affected prices so far?

Cheers
Stella
 
I think our current mayor has a good vision. The "old CBD" face will change with the new highrise Aspire apartments which have recently completed. Also, where McMahons swim factory is, that whole block is going to be a townhouse development. I predict most of Darling St will have old run down houses knocked down to make way for trendy apartments and townhouses. This will provide lots of fresh new customers looking for cafes and trendy shops.
I definitely think the city is on the move.
 
I own a couple up that way and it looks to me like prices peaked a few months back. Anecdotally, demand has dropped off sharply recently with a corresponding drop in prices. Looong term looks fine tho.
 
Yes I agree Evand, prices have taken a breather but I think this is across board at the moment as most of Brisbane is the same. We bought in Woodend which is half a klm from the Ipswich CBD next door to three private schools and transport. The base prices on many properties there are low and most areas surrounding have a good rental yield, large land component and great potential for future CG with all the future development scheduled to take place.
We are just happy to hold for the long term.
 
Also what are peoples thoughts on the lastest announcement of the Queensland government fast tracking the development of land sites within Ipswich in order to help new land to come onto the market for first home buyers?
I'm not to certain it will help affordability, but I can definately see it driving population growth and current infrastructure within the region at a greater rate.
Lets wait and see:rolleyes:
 
angela: I have IPs in North Ipswich & Tivoli, purchased Aug 07 & Feb 08
stella: We brought in Raceview Aug 07 (in a hot market)
Butters: Bought IP at Raceview as well this year.

Buying at the top?
Well just a few months kiddies, this one is sweeping the world.


NEWSTATESMAN England
Crash: The housing crisis is just beginning

http://www.newstatesman.com/economy/2008/06/house-prices-housing-british

As Britain wakes up to the nightmare of negative equity, we are facing a housing recession far worse than that of the early 1990s. Iain Macwhirter has a warning: don't buy a house now, at any price. Just say no. You have been warned


This story is being replicated in every city in the country as the housing crash gathers momentum. In areas of Manchester and Leeds, and even parts of London, thousands of new-build flats are being offloaded at auction for 30 per cent less than they cost to buy

Analysts such as Morgan Stanley think there could be a 25 per cent decline in two years. The International Monetary Fund estimates that British house prices are overvalued by 30 per cent. A crash is defined as a 20 per cent fall over two years, so fasten your seat belts.

Get the future here...
http://www.housepricecrash.co.uk/forum/index.php?showforum=22
 
We have a plan to hold ours for the very long term, so stagnant or falling prices don't concern us too much in the short term. The out of pocket expenses are easily managed by us, and rents are slightly undermarket at the moment, so will be increased when leases are renewed. We have excellent tenants in both properties, who have indicated they want to stay for the long term. Our interest rates are fixed for five years, and we have a decent buffer if we ever need to use it. If there is a crash in prices, so be it, we have planned for the long term and feel confident that we will survive it, and hopefully pick up some bargains along the way. :)
 
We too are in for the long run and have secured 5 years fixed.
I believe at the moment property is in a stabilzation period of the cycle and believe as high levels of migration continue with limited stock we will see a quicker than usual property cycle occuring.
I think investers looking at the current market need to look at value adding strategies and future development in the pipeline, that would indicate substantial growth. When we were looking at our first IP we were looking in Brisbane , but prices were just to high to factor in a great deal of CG over a period of time with high loan repayments, increasing holding risk and managability.
When the state government started implementing and commiting to major
infrastructure for the Ipswich CBD and Western Corridor we new that base prices on properties there still had growth left in them, and from a former historical coal mining town I believe it will become a definate diamond hold in the very near future.
 
Like Angela, we have an excellent tenant in the place, who have also said they want to stay long term.
Our interest rate is I/O & fixed & we have a good buffer at our disposal (around 2.5 yrs of repayments - unless we use some for a deposit on something else) If there is a crash in prices, we have planned to hold for the long term and are confident that we will survive it, and are currently looking for bargains in other areas.....

No on the other hand, if we had a car loan or two and credit card 7 other personal debt we may be a bit concerned - but not at the moment - its steady as she goes.....

Cheers
Stella
 
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