Springfield / Springfield Lakes, Brisbane

[SliderC]

Hi guys,
Thought I would ask about Springfield, Brisbane.

Its in the Ipswich Eastern Corridor, now with access to train stations, numerous schools, the lakes, parklands and the new Water Park (forget its name)...

Seems a lot of money has been put into this suburb yet the prices are still reasonable (~400k for 4/2 on decent block).

Capital growth being the motivator over the next 10-15yrs.

 

[Bantam Roosta]

I don't really know that area, but one of my initial concerns would be the vast amount of land available for expansion. How long will it take for this to be soaked up?

From a livability perspective, I have a friend who has built his PPOR in Springfield and he loves the area. As you have said, there are some decent attractions.

BR

 

[Cargs]

Research I've done points to it being a desirable are to live, my concern though is capital growth may be hindered by the abundance of future land releases

 

[Gateway]

Exactly, I have done a lot of reading on the area. Plenty of supply, struggle to get CG. I went to North.

 

[Coota9]

Gateway,

How far north?

 

[D_One]

As far as capital growth goes, my parents have two there they built about 3/4 years ago, before the train went there. They built for roughly $355k, so now it's prol worth $420k. Is that enough growth? For some ppl, it is, for others, it isn't. I wouldn't invest there.

 

[BuildingBlocks]

I was in the area last weekend.

My general observations...

Positive:
- Loads of new shopping centres/supermarkets etc.
- Many roads which will take a lot more traffic than they currently get.
- Additional infrastructure such as schools are in place in many areas or under constructions already.
- Was only about 45mins from the airport (it was 10pm at night though).

Negative:
- You quickly go from the built up new developments to the old worn out suburbs.
- There is still some crime travelling into the area. "People coming from Redbank" was one comment that I heard.
- Vacant land galore only a couple of minutes drive away. It will take a LONG time to build out which I would expect to hinder demand.

 

[RPI]

I am of the same opinion on the supply issue. That doesn't mean that other factors won't help growth or that individual properties are a good buy, there is just an abundance of land around.

 

[nhg]

I'd live there but too much land available to invest there atm IMO. Tho have heard of people making a tidy profit in the past.

The entire site is simply one mega investment. Purchased for $7M relatively recently, now worth $B's and won't be done till well after the developers passing.

The man isn't simply an investor. He is a visionary.

 

[Gateway]

SliderC,
Try researching Braden hills and the neighbourhood. You will find the areas have potential in the long term, nice family area.cheers

 

[chindonly]

Gateway - you mean Bracken Hills?

Council has plans to build a new pool and sport / rec centre there.

Election promise apparently.

 

[Qlds007]

Yes the areas infrastructure is owned by one man who happens to be my next door neighbour....

Not sure i would be rushing in to invest there as slightly oversupply.