Ipswich

It`s all debatable but I think it`s fair to say rents will increase in many areas over the next few years maybe more than they have the last few, although in an area where there is oversupply as you said it may not, it could in fact go down.
My house in Bundy Central which I paid $75,000 I have recently been told with $20,000 renovation will rent for $200 minimum, I nearly fell over and yet many people advised me against investing in regional areas.


There is some luck you cannot possibly forecast some conditions, seems people now pay more for Bundy close to town than Baggara simply because you are closer to services.
I think you just cannot depend on CG anymore you must find CF+ or close to it and be prepared to wait quite some time.
There is a lot of advise out there good and bad, you need to make your own educated decisions.
 
ippy last year

ok so you say you couldnt get a house in ippy for $106k last year.....WRONG!!!

134 Whitehil Road Eastern Heights $100k bought in Feb last year sold March this year $185k

31 Vineyard Street One Mile bought for $95k Feb last year still own, worth $180k good tenant paying $185/wk

7 Wentworth Street Leichhardt bought Jan last year for $84k, just gone unconditional at $159k.

These were sold to pay down new BIG mortgage on new house so yes they were available last year.

Someone asked not sure which thread about Raceview/Brassall which is best.

Brassall is the nicer suburb and has a new McDonalds in Haig Street, I own one there and its a good house in a good suburb. A new subdivision where I think the person was hoping to buy in is near the Warrego freeway which is great for access to and from Brizzy.

The Warrego/Cunningham freeway link on the west side of Ippy will also have a positive impact on pricing there.

New house and land in the raceview estate is $280k buy with $270-90/wk rent expected. Gee that sounds like a bad deal as it is only 5% return.

GO Ippy!!!

DD1
 
The whole point was I paid $65,000 and $75,000 respectively for my houses it was LATE last year, I paid the asking prices as they were fair market value at the time but yes that is cheaper than I would have thought in Ipswich but not cheap enough for my purposes at the time.
You did very well sounds like you have a good plan.
 
DD1 said:
Someone asked not sure which thread about Raceview/Brassall which is best.

Brassall is the nicer suburb and has a new McDonalds in Haig Street, I own one there and its a good house in a good suburb. A new subdivision where I think the person was hoping to buy in is near the Warrego freeway which is great for access to and from Brizzy.

The Warrego/Cunningham freeway link on the west side of Ippy will also have a positive impact on pricing there.

New house and land in the raceview estate is $280k buy with $270-90/wk rent expected. Gee that sounds like a bad deal as it is only 5% return.

GO Ippy!!!

DD1
Personally I wouldn't buy anything in the Raceview area. It's all black soil and I have seen so many cracked slabs and leaking pool problems due to the soil movement. A friend of mine had constant nightmares with his pool.

Regardless of having extra depth footings it still doesn't guarantee that a problem won't occur. There was a listing in Raceview about 6 months ago for a house near Grange Road that had half of the rear house sunk. It wasn't that old either and it was quoted $50k to repair.

Better off sticking to the Northside of Ipswich. Brassall and North Ipswich will benefit high on completion of the Riverlink Project. There is bridge plan to link Brassall to Nth Ippy. ;)
 
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Three towers bid near Queens Park
23.12.2004

By TONY MOORE
AN audacious plan to build a three-tower commercial and residential apartment complex right across from Queens Park has been lodged with Ipswich City Council.

The towers will be 12, 14 and 16 storeys high, with residential units, retail shops and office space.

The site is the block of land bounded by Milford, Limestone, Thorn and Brisbane streets at the main entrance to central Ipswich.

Architect Christian Skou said he had drawn the "three towers" proposal for Sydney-based developers, Caveco Properties.

Mr Skou said he had been to Ipswich several times to view the site and the aspect towards the city’s famous Queens Park.
"Absolutely. We have had many meetings with Ipswich City Council. It's been an on-going development for six to eight months," Mr Skou said.

The proposal was submitted on November 15. It has no approvals from council. The developers have been able to acquire all but one property on the city block.

Ipswich mayor Paul Pisasale said there would be a lot of discussion over the application.

"All I've said to them is to make sure that they continue the heritage aspects of the city and to make sure it gives a significant entry aspect to the city," Cr Pisasale said.

Mr Skou said he was aware the site had to blend with the Queens Park area.

"Very much so. That is very important and has been given a lot of consideration," he said.

The architect said his design incorporated the historic stone wall that ran down the small park along Limestone Street in texture.

"We are hoping to open up the front facade, opening it up into the park."

The Department of Main Roads has to be consulted because both Brisbane and Limestone streets are state-controlled roads. The application comes a month after the green light was given for the 15-storey "Aspire" apartment block in Darling Street.

http://www.qt.com.au/storydisplay.c...localnews&thesubsection=&thesecondsubsection=
 
Nature Park said:
Personally I wouldn't buy anything in the Raceview area. It's all black soil and I have seen so many cracked slabs and leaking pool problems due to the soil movement. A friend of mine had constant nightmares with his pool.

The building inspector I use for my Ipswich purchases (who is a long time local) adamantly states he wouldn't touch anything brick on a slab in a Blacksoil area. He told me most brick houses and units he inspects show signs of movement that will only get worse with age. He reckons best to stick with houses on stumps and you won't go wrong.

Nat :)
 
Property For Sale

I'm not sure if I have the right thread here, but I will have a house and an adjoining block of land for sale in North Ipswich in @ 3-4 months time.

If anyone is interested let me know and I will post pics. High up on a hill with great views near the radio station.

Cheers,
Duncan
 
Council staff to do CBD revamp
12.01.2005

By DANIEL SANKEY
IPSWICH City Council will begin its upgrade of the Ipswich Mall in March, with council's day labour force to undertake the construction work.

The final designs for the new-look mall and d'Arcy Doyle Place construction project are a merger of the most popular aspects of the three options displayed at Ipswich Art Gallery and in the River Heart office last year.

The $7.9 million phase one of River Heart has been funded by the state government ($3.3 million) and Ipswich City Council ($3 million), with $1.6 million coming from CBD landholders through the CBD levy.

Work is expected to start on d’Arcy Doyle Place in August, and along with the mall, will be completed in November.
The massive increase in building activity in the Ipswich region forced the council to reconsider plans to outsource construction work.

Ipswich Mayor Paul Pisasale said huge increases in labour costs in the building industry had convinced council to use its own skilled labour.

"They (council workers) do a fantastic job. Using our own staff will ensure the quality of the works and it will help us maintain close consultation with traders throughout the River Heart Phase One works," he said.

Cr Pisasale said more than 100 responses to a River Heart design questionnaire had been received, with the overwhelming view being that the most popular aspects of the three options displayed last year should be included in the final plan.

The main features of the final plan for the Ipswich Mall include:

A "City Mall Lawn" featured in a more open mall design;

The retention of the existing heritage-styled rotunda;

Flower tubs as a feature along the mall;

Shade trees outside the Commonwealth Bank building;

The relocation of the obelisk to Queens Park;

The relocation of the Police Beat and Safe City Monitoring Centre to the Pender Arcade in the mall; and

Reconstruction of the pavement using a variety of surfaces.

As detailed in public displays, the design for d'Arcy Doyle Place involves levelling the ground from Brisbane Street towards the sail structure to create a "Gallery Lawn".

Cr Pisasale said the enhancement of open space would create a more family-friendly, vibrant CBD.

Works on d'Arcy Doyle Place include:

Moving the fountain sculptures to the Limestone Street end of d'Arcy Doyle Place;

Moving the fig tree at the Brisbane Street end to the new river parklands;

Restructuring pavement at Brisbane Street to improve ac-cess from St Paul's Church;

Installing theatre lighting to enhance use of the Gallery Lawn in the evening; and

The opportunity to relocate the Blackall Monument in the future.

The River Parklands project will be undertaken as a separate project to other elements of River Heart Phase One.

"Feedback from the community gave a strong vote in favour of the 'River Terraces' option for the River Parklands," Cr Pisasale said.

"The braided patterns of the water-side plantings and curved timber boardwalks, which reflect the moving ripples of the river, proved popular with the community.

"The boardwalk varies in elevation to provide access to the different levels of the water terraces and allows close inspection of the wetland plants and water edge treatments."

Final designs can be viewed at the River Heart office at d'Arcy Doyle Place.

http://www.qt.com.au/storydisplay.c...localnews&thesubsection=&thesecondsubsection=
 
Land values double
05.02.2005

By TONY MOORE
PROPERTY valuations in the Ipswich region are likely to double when figures are released by the state government next month.

Real Estate Institute of Queensland Ipswich zone chairman Peter Mendoza said values in some areas had tripled in months.

"Certainly across the board, the land values have more than doubled in the last 18 months. I don't think there is anywhere that hasn’t doubled."

Esk Shire finance manager Geoffrey Smith said a block of council-owned vacant land was recently sold for three times the expected price. Property valuations for Queensland will be released by the Department of Natural Resources on March 29.

The 2005 valuations will be the first to take into account the rising real estate market in Ipswich for the past two years.

All councils in Queensland use the valuations as one measure to set their rates.

A dispute last year that led to a strike by state government valuers, prevented councils using up-to-date valuations.

Ipswich mayor Paul Pisasale said the valuations would be Ipswich's biggest challenge for this year’s budget.

"But it is also our biggest excitement," Cr Pisasale said.

"It would mean that we will be making our 'rate in the dollar' closer to Brisbane."

Traditionally Ipswich and its neighbouring regional councils charge a higher rate in the dollar on their areas' lower property valuations to generate income, while Brisbane City Council can charge a lower rate on the highervalued land in its area.

http://www.qt.com.au/storydisplay.c...localnews&thesubsection=&thesecondsubsection=
 
article in today's Fin Review

There's an article about Ipswich in the Fin Review today -sorry I haven't the link.


gniks
 
Ipswich vs the rest ?

Hi guys

I would like to point out I like Ipswich and in fact currently live and invest in a "kind of" nearby suburb Karana Downs. We go to Bunnings at Booval for all our reno stuff, shop infrequently in the Mall and do our banking there with the world's last friendly bank Heritage Building Society. The Council is dynamic and progressive (certainly in comparison to *any* other council in the SEQ corner)

However looking at the figures and returns quoted here, I wonder why people would invest in Ipswich versus (say) Red Hill or Kedron (ie. within 5 kms of Brisbane CBD). My focus is strong CG with reasonable rental returns, and low vacancies.

I understand the likelihood of finding future subdivisible land is higher in Ippy, and there is lots of heating up 'cos of the proposed SEQ Plan. A recent Courier Mail article (granted not always the most informed paper) asked something like "The SEQ Plan is all well and good but will this many people really WANT to live in the Western corridor ?" I'm sorry I can't remember the specifics, but I think they were pushing the barrow of the corridor between Brisbane and the North and South coasts.

Anyway I watched the 'shockwave' from the boom come out our way then past us, and to me the Ipswich area has grown out of whack compared to the likely future returns, IMHO.

I lived in Sydney for 3 years and I believe Ipswich in liveability is very much like Parramatta (I was lucky enough to squat in Auburn in the late 80's, and survived the odd attack with garden implements, car theft and ate really bad kebabs every night). Its nearly exactly the same distance from the CBD, there's a similar rail line and the roads are equally crappy :) The demographic is similar, and in some circles so is the 'stigma' associated with it.

My concern with IP's in Ipswich would be the quality of tenant and the increasing competiton, and rapidly diminishing returns. I would have worn that risk 2 years ago when you could buy a sub -$70K house on land and rent it for $140 pw. But based on the figures quoted earlier in this thread, its all a bit too close to the edge for me.

Interested to see what those active in Ipswich think ?

Cheers
TryHard
 
Ok its cashflow isnt great but the CGains are.

I gave specific examples of 3 houses earlier in this thread about IPPY and they were then. This is now, and with the current rental returns of 1/1 ratio or 5% it is easy to see that the lollies you could get for $70k with $140/wk rent are definitely gone.

All you have to do is read the links for this thread to realise there is big bikkies being pumped into the ground here in infrastructure that will sustain growth for many long years to come.

Ok 1 x 15 storey is approved. 3 new ones are before council now, riverlink, goodna road expansions, one mile bridge redevelopement(its very pretty too) and then you add in all the industrial and job expansion happening you tend to wonder if you have been listening.

NO there is no 10% residential left, yes there is a massive wave of developement and change happening, YES the residential properties are more likely to be 5% return for a while until rents catch up with growth, but guess what, if you are a serious investor and have found your niche, whats the problem. We are all here to make money and help each other get there. If us promoting the wonders of the west force you to jump up and down then so be it.

I for one am suggesting to investors that if they have a few cashflow positive and are now looking for good cap gains. Buy the 5%ers in IPPY, hold your breath and wait for the big $$ returns you will get in a few years.

If you are fixed on regional cashflow, go right ahead none of us will stop you. I'm just happy we all get a say on a wonderful and intelligent a resource as this website. Houses in Tassie give return but you cannot get great cap gains for a few years there, townhouses in Logan area are good once a reno is done for cashflow, and sure Rocky and Cairns are still ok for some areas for cash too.

My money for good cap returns are on the humble dwellings of IPPY and I do not have all the time needed to reiterate reasons here, but rest assured that Brenda, Sunstone and those of us converted to IPPY time will not now adjust our watches.

Main thing is to enjoy investing and appreciate we are all individuals and choose differently those things we do. Good Luck and happy hunting.

DD1
 
Dear TryHard,

DD1 has made some good comments.

Those $70k brick houses that were renting for $140/wk, if you bought well are now renting for $210/wk and have doubled and in some cases tripled their values on conservative bank valuations.

A lot of good information has already been posted.

Would recommend you read:

http://www.somersoft.com/forums/showpost.php?p=92524&postcount=7
http://www.somersoft.com/forums/showthread.php?t=19446

Enjoy the journey, and don’t miss the diamonds. ;)

Cheers,

Sunstone.
 
Yippy Ippy

Hi DD1 and Sunstone

Thanks for the replies. I should point out I wasn't trying to be anti-Ippy - as I mentioned I only live up the road. I was just wondering what the common-sense-o-meter says about Ippy versus similar purchase prices in Inner City stuff. I totally agree those $70K house I mentioned have doubled or tripled in the last couple of years.

I'll go read those other threads, Sunstone, cheers.
TryHard
 
Dear guys,

More recognition of how important train stations are as transport hubs.

Cheers,

Sunstone.


Transport tune up
22.03.2005

By BRAD WEIER and BRIGID SIMEONI
AN overhaul of Ipswich's public transport system will introduce new bus routes, longer operating hours and a bus and rail link between selected train stations.

The $4 million upgrade was announced yesterday by Transport Minister Paul Lucas.

It will include a new three-digit route numbering system, more early morning, evening and Saturday services and a direct bus route from Springfield and Springfield Lakes to Goodna train station.

Ten new air-conditioned Westside buses will come into service in Ipswich by September and five of them will be wheelchair-accessible. ...........

http://www.qt.com.au/storydisplay.c...localnews&thesubsection=&thesecondsubsection=
 
info a gogo

Hi again guys, thanks for adding the info Sunstone as the rail link and bus routes are a nice addition to the infrastructure picture being shaped.

With all the added people due to inhabit the area it would seem that the roads will become ever more conjested with greater emphasis on these public transport links and changes.

The medium density housing nearer trainlines is already attracting brizzy workers out west(with air conditioners in tow), due to affordability and land sizes still larger than inner city blocks.

Lets face it, the larger toe mortgage the closer to town so with cheaper houses out in Ipswich and the Ippy town centre pretty up underway in Doyle Street near the cinemas its all go ahead for investing.

Our current strategy is to beg borrow or steal so we can hold onto our properties there as its just a small wave building now and the crest is a few years off, but we see a very cosy retirement if we hang onto the 7 we have there.

Sunstone, I'm in brizzy 1st 2nd 3rd April for a course so maybe we could have a coffee in the cty if that suits.

DD1
 
I have been offered house/land package in both these suburbs (Raceview and Brassal) for around 280/290K (4BR, DLG, etc) for a rent of round $260/$280.

Hmmm, why would you bother when you have returns like this 5 min from Brisbane's CBD:

http://www.realestate.com.au/cgi-bi...0&p=30&t=res&ty=&snf=rbs&ag=&cu=&fmt=&header=

($275 p/w in St Lucia for a 2 bedroom unit going for $210). A healthy 6.8% yield and that's without factoring in a bargain price.

Better returns, stronger capital growth and low vacany periods (think uni students) - Ipswich doesn't even compare.
 
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