Redbank Plains, QLD

[parlayman]

Hello,

Anyone here familiar with Redbank Plains area in QLD?
We're in the process of getting an IP from a new estate called Henderson Chase.

It's a brand new duplex (3-2-2) with a total area of 154.2 sqm for $336,400.

Any thoughts would greatly be appreciated.

Cheers!

 

[PropertyValuer]

If you are purchasing off the plan be very careful in South East Queensland. For that sort of money you can purchase a modern 4+2+2. In general terms, land appreciates, building depreciate.

 

[PropertyValuer]

Just a quick note, since May 2011 there has been 18 house sales in the Redbank Plains area between $330k and $550k. The lowest $300k and the highest $435k with a median of $323k. The large majority of these are semi modern to modern 4+2+2 houses. If you need some further assistance please contact me via my web site www.thepropertyvaluer.com I have carried out valuations and buyer agent work in these areas for years. Hope the above information helps.

 

[parlayman]

Thanks for your thoughts PropertyValuer.
It can be considered off the plan as it's nearing completion and not ready for tenancy just yet. Are you thinking that this property might be over-priced?

 

[Andrew_A]

If you are purchasing off the plan be very careful in South East Queensland. For that sort of money you can purchase a modern 4+2+2. In general terms, land appreciates, building depreciate.

Yes indeed.

Tread very carefully parlayman and have a close look at the vested interest of the people helping you in the transaction.

 

[Pa1nter]

I know the area and a couple of years ago some houses were having trouble with falling down the mines.
We put a contract on a house in Redbank Plains and luckily we saw the underpinning remnants of a previous fix.
Not saying there is an issue where yours is,just the same suburb,

(I believe there would be better buys out there also )

 

[Cam1]

Henderson Chase is located in Redbank as opposed to Redbank Plains. The boundary between the two suburbs runs along Eagle Street - just south of the estate.

I've pointed out some of the infrastructure improvements for the area in another thread http://www.somersoft.com/forums/showthread.php?t=72742&highlight=Goodna

The Goodna Creek Bikeway (stage 2) is going to be built close to Henderson Chase & connect with Redbank Plaza & Redbank Railway Station. The map I have seen shows a link from the bikeway across the creek towards Henderson Chase.

The mining subsidence that caused some cracking in houses a couple of years ago was in the adjoining suburb of Collingwood Park. The affected houses have been bought by the Queensland Government. You can check to see if a property in Ipswich is located over or adjacent to former mines by checking for constraints at http://pdonline.ipswich.qld.gov.au/pdonline/masterplan/enquirer/default.aspx?page=search

It is a buyers market at the moment. I wish that I was in a position to buy further properties in the area.

 

[parlayman]

Putting aside the purchase price for a minute, can we expect a decent capital growth for this area where Henderson Chase is located?