Thoughts on Richlands, Queensland?

[NZGirl]

Hi

I would be interested in knowing others thoughts about Richlands, Queensland as a suburb to purchase in?

It has a train station (30 minutes commute into the CBD), it has a new supermarket complex and looks to have other amenities being built. I've also read that its considered a 'growth corridor' by the Brisbane City Council, and there is a neighbourhood plan being finalised for the area (I've downloaded and read it, but found it a bit vague in terms of detail).

On the downside, its located next to Inala which I have heard is not a very nice suburb.

Do you think this is a worthwhile suburb to purchase in over the long term? Positives, negatives? Are there any websites or reference information you've found particularly useful when researching suburbs (I've looked at so many different sites and suburb profiles, but wondering if there is one that is considered the 'best' or most recommended).

Thanks - I'd really appreciate your thoughts (as I'm a relative newcomer to Brissie!(

 

[RPI]

I think it is one of those suburbs that has a mixture of people, some who would make great tenants and some who would make terrible ones. If you buy in an area like that you need to make sure that you get the sort of property that appeals to the former, rather than the latter.

Would assume that there is higher crime, unemployment, welfare etc than other areas a bit closer in or further out, but does not have same stigma as Inala. Some investors do great in Inala.

It is entirely possible that Richlands could be gentrified by all the development, it is also entirely possible that it doesn't change. If you weigh it up, come down on the side of the former and are right the capital growth could be outstanding. If the other happens then who knows.

Good luck with the investigating.

 

[Angel]

It has a train station (30 minutes commute into the CBD),



Yes,, I know there is a train station being built there, but is it connected to any other stations? Who told you that it is a 30 minute commute? The salesman or did you go to Translink?

 

[NZGirl]

Hi

Thanks for your comments - useful feedback and questions to think about as always on this forum!

I did my own research to check re the station using the Translink website (and have even traveled the journey just to be sure!). The station is part of the Ipswich/Richlands line - its approx a 32 minute journey into the CBD.

I've tried to research the suburb as much as I can, and have been out there driving and wandering around as well to get a feel for it. I've found this site to be a great resource, so thought I'd post on here to see if there were any thoughts or other information that people had that I haven't already considered

Thanks again!

 

[dyjeeon]

Hi NZGirl,

I am now looking into the same area as well with similar research findings so far.
However, I never actually been there. How did you go with the research? Did you decided to buy there?

I am looking at an offer of off the plan IP, townhouse (3 bed, 2 bath, 1 car) at around 340k. Not sure if it is reasonable yet.

 

[Angel]

Please excuse my scepticism about the train line. I had driven past just a few weeks earlier and it wasn't operational at that time.

 

[dyjeeon]

Did you ended up investing in that area?
I have just been there last week to check out the area. It reminds me a lot about Blacktown, NSW, in the early stages.

One thing I notice is that there are a lot of land release in the area and new townhouses complex. Not sure if that is a good sign or not. There are some woolies at around the back as well.

I am still trying to convince myself if the area actually have a lot of potential.

 

[Heinz57]

Annastacia Palaszczuk country.

 

[jerryparker]

Richlands can be excellent

Here is how to approach Richlands.

The infrastructure most exciting is the rail link.

So proximity to the train depot will capture the higher wage earning in the city.

Product wise, there are some nice new townhouses in Richlands, around $300k. or lower. The will rent for over 300 per week and give a positive return.

This price range gives an future capital gain. The cashflow supports a large loan thus requiring minimal deposit. Mortgage insurance even pays for itself and gives a nice tax deduction.

I have a third party analyst report on the area, you cam PM me and Ill send it to you.

Cheers,

Jerry Parker

 

[Mr T]

Just compare the price with neighboring 'family friendly' suburb of Forest Lake.

It's beside Inala as well - and see how its done historically.

Based on that -Richlands has potential , if possible go for H & L (preferable).

 

[ABC01]

It's nearly 2 years old thread.

Richlands is an industrial area, close to Inala, and also there is a train station which can be easily used by gang members from Logan to travel to the area as well.