Raceview, Queensland
- Thread starter Cody
- Start date
Hi Cody...did you end up finding out more about Raceview ?....I'm interested as well...for 300k one can get a quality house, not like the shitty ones one can get for twice that price closer to the city....some reports show that Ipswich is set to grow in the long term...what have your findings been ?
Cheers
a.
beeen slow growth
ok rental rtns
Some "low priced" buying opportunities
what attracts you ?
ta
rolf
ok rental rtns
Some "low priced" buying opportunities
what attracts you ?
ta
rolf
Huge population growth slated for the area in general; Transport infrastructure; Development of essentual services to the area; Increased job opportunities; Affordable housing with plenty of room for increased CG. Good CF. Things to be mindful of is the Ipswich area is subseptable to flooding so check the maps through the council website; Watch the black soil as it is reactive in particular areas so a building inspection is essentual into the integrity of the structure of the property.
Hope this helps a little.
Jack
Hope this helps a little.
Jack
I was in Ipswich yesterday; the place is improving rapidly. Gentrification anyone?
I'm sure that there are better places to invest than Raceview. Anything that is within 15km of Brisbane CBD is pretty good bet.
I'd have to disagree if you're going down the old buy 'anything' 10-15km from a major city argument........
I'd also disagree on the factors already expresssed above in relation to the Ipswich LGA - Huge population growth; transport infrastruture development and investment; huge investment in infrastructure and services; affordable housing with prospects for CG; Good CF and products that attract a large demographic of tenants looking for value and affordablilty.
Sure Ipswich may be a bit of an 'Ugly Duckling' but it's on the move and improving fast and it's these 'drivers' that will support growth.
What makes anything 15km of Brisbane CBD a better investment....?
Projected population growth in SEQ 2011-2031:
1. Ipswich: 286,521 (21,6%)
2. Gold Coast: 254,252 (19.2%)
3. Brisbane: 186,658 (14.1%)
It seems to me that Ipswich is a better option than Brisbane.
I'm looking for my first IP. Been looking around Brisbane only so far. Can't bring myself to accept the shitty houses you can get for 400k !
Fundamentals are strong in Ipswich, but I don't know the area.....will start inspecting soon....what suburbs would you recommend ?
Cheers
A.
1. Ipswich: 286,521 (21,6%)
2. Gold Coast: 254,252 (19.2%)
3. Brisbane: 186,658 (14.1%)
It seems to me that Ipswich is a better option than Brisbane.
I'm looking for my first IP. Been looking around Brisbane only so far. Can't bring myself to accept the shitty houses you can get for 400k !
Fundamentals are strong in Ipswich, but I don't know the area.....will start inspecting soon....what suburbs would you recommend ?
Cheers
A.
Raceview is very popular for first home buyers. As someone else has already said, keep an eye on the blacksoil as it is common for the area. From what I've seen it's a fairly neat and tidy suburb, lots of young first home buyers or young families. It's cheaper than other Ipswich suburbs because of the soil, size of the houses, age of the houses and it has a lot of busy roads running through it (in my opinion).
it will also depend on the supply/demand of the housing market. just because it has faster population growth does not necessarily mean it will increase in value quicker.
i completely agree with Nth Brisbanite, anything 15km close to Brisbane CDB is definitely worth it and in my opinion a better option. also a crappy house has the potential to add value by doing renovations and therefore gives you the potential to borrow more money in the future to purchase further IPs.
Not saying Brisbane is a better area, it really depends on the actual investment, but i think its a safer investment option.
I dont disagree necessarily that raceview is a good place to invest but;
where are these figures from? What makes these projections more solid than someonelses musings? even if they turn out to be true, just because population grows at a faster rate, doesnt mean property or rents will increase proportionally.
With a regional centre, increased population growth might just mean spread. why pay extra for your house when there are greenfield developments 5 minutes away?
New broad acerage land subdiv is possible In Ips, and not quite so simple in either Brissie or GC
ta
rolf
What is blacksoil? Are there any maps?
Only if the new house didn't have the correct foundations.
Building inspection will tell if the house is moving or had subsidence. Those small cracks can tell a builder if you should expect further damage.
I was in Bundy last week and saw a 10yr house with huge cracks in the brickwork that you could put your hands into. Expensive to repair. Maybe issues to chase later. Foundations at fault.
But on this forum, one person sees repair nightmare, another person sees discount and profit.
Building inspection will tell if the house is moving or had subsidence. Those small cracks can tell a builder if you should expect further damage.
I was in Bundy last week and saw a 10yr house with huge cracks in the brickwork that you could put your hands into. Expensive to repair. Maybe issues to chase later. Foundations at fault.
But on this forum, one person sees repair nightmare, another person sees discount and profit.
Yes that's true, if there's any market at all for the sale of a house then you can factor issues into the buy price. Even property that flooded completely in Brisbane seems to sell quite well, I'm surprised by how little discount you get sometimes for property that will still be at future risk. If you are looking for bargain discounts then you could do quite well by targeting termites, people are terrified of them, would think there's an easier market there than targeting properties that need underpinning
In one word: No.
There are only 2 regions in greater brisbane one should avoid : One is ipswitch and the other is logan.
