NRAS property in Churwar, Ipswitch, Qld

[rabbit2011]

Hi All,

Has any body hear about NRAS properties in Churwar, Ipswitch, Qld. We were told by the agent that this is a good suburb in Ipswtich.

However, the NRAS properties cash flow is not positive. This is because:

1. PM fee is 11% over the Market Rent + the $12.83 compliant fee weekly

2. Rent received is 25% less than Market Rent

Please offer your view on this situation?

Thanks

 

[Meandering]

Chuwar is actually an outer suburb of ipswich, but a decent area. Its semi rural and blocks are larger than normal (generally). It's flood free and not too far from amenities. Karalee shopping centre is just a few minutes drive and Ipswich CBD is about 10 mins drive.

I'd DYOR and purchase on your own rather than through some sort of half arsed "package deal" that will be trying to rip you off.

 

[rabbit2011]

Chuwar is actually an outer suburb of ipswich, but a decent area. Its semi rural and blocks are larger than normal (generally). It's flood free and not too far from amenities. Karalee shopping centre is just a few minutes drive and Ipswich CBD is about 10 mins drive.

I'd DYOR and purchase on your own rather than through some sort of half arsed "package deal" that will be trying to rip you off.

Thanks very much for the reply.

I take you regard "NRAS" as a form of "packag deal"? By "purchase on you own" do you mean buy outside of NRAS?

I would really appreciate your view on potenial CG in the Churwar area? Also how do Chuwar, Coomera and Pimpama fare against each other in terms of CG potentials?

Many thanks in advance.

 

[Meandering]

I don't think there is much CG in store anywhere in Australia for the foreseeable future.

 

[mystery]

A little off topic, but we have had a property for sale in the Ipswich shire (non flood position) for a little while now with no success. We are about to take it off the market. We have received plenty of interest and several offers, but they are all around 2007 prices which is too low for us.

A very subdued market .... we will re-list when the cycle moves up in the future after a cleanup/reno.

Just thought it may be of interest

Mystery

 

[rabbit2011]

Thanks for sharing the information. Is it near the Chuwar area? Currently the NRAS properties tend to be built around amenities as we observed.

 

[JDI]

When doing calculations have you taken into account the federal and state government combined rebate at the end of the financial year that is tax free? This will easily offset your initial 25% rebate even allowing for interest lost if you'd invested the money elsewhere.

There are quite a number of very informative NRAS threads floating around that would be worth a look if you haven't already

 

[Beau Miller]

Hi Rabbitt,

Meandering is spot on in explaining the Chuwar area.

Chuwar is a much lower priced area in comparison to Coomera and Pimpama.

We purchased two investments in West Ipswich Suburbs and have had no CG in the past 4 years, if anything we have gone backwards.

Our last long term tenant in our 2 bedroom One Mile house moved out to a NRAS home because for $20 per week more she was getting 2 extra bedrooms an extra bathroom in a brand new house. Great for her, not so good for me. It then took another 7 weeks to find a tenant.

Personally I am concerned that the NRAS scheme is not helping the CG growth for investors in the Ipswich area. I would only buy another one if I could afford to sit tight for another 10 years. We tried to move one of our houses this year to get some gain but turns out the gain we made we have lost since the flood.

Just thinking out loud, but I think you would find a tenant quicker in the Chuwar home than the Coomera and Pimpama property but probably get more growth from the Coomera and Pimpama market.

-Beau.

 

[JTBT]

There are also NRAS properties in the Red Bank Plains area. Devine are the builders with prices starting at $360K for a 3 bedder. Also, from August 1st there is a $10k building bonus included by the government.

 

[live_1991]

apart from NRAS, what do people think about ipswich now for an IP

coming from darwin, and only been to ipswich 5 year ago.

if you could would you get an IP in ipswich now