Waterford, Springfield QLD

[Fester]

Came across this site: http://www.onsitedirectrealty.com/

The rent returns don't appear too bad for the property price.
What are these suburbs like?

The Fester

 

[Les]

G'day Fester,

We looked at a property in Waterford just 3 months ago - the major thing you would need to consider is the "flood maps". The particular property we were considering was due to go to Auction. Vendor was expecting around $250k (would have rented for $300 / wk (5 acres, set up for horses, vacancy rate non-existent).

Marketed as "80% flood-affected in 1974" - facts (from Council maps) showed that it was 100% flood-affected - where the house was built went 3m UNDER !!! in 1974. At that point, we offered $150k - then walked. Auction came, went, property still for sale (I guess.....)

So, with Waterford particularly, CHECK the Council flood maps. BUT, also, be aware that the Wivenhoe dam was built to PREVENT a recurrence of the '74 floods.... So don't ignore everything in that area, just be sure to negotiate based on your findings.

Springfield, I've never heard of (????). And, when chasing your link, I didn't see either mentioned .... ????

Regards,

 

[Fester]

Thanks Les. If you go to "buying" on that web site then "search" there are properties advertised at both Waterford and Springfield. I found that Springfield is near Camira, Forest Lake, so a fair way from Brisbane CBD!!

 

[darryl]

Springfield is a major Delfin? development similar to Forest Lake. The development is expected to last about 15 years and will include a new town centre.

 

[JPM]

Springfield is actually within the boundary of Ipswich City Council. BUT don't hold that against it. It has a magnificent Greg Norman design golf course with is about 1 year old and already rated as one of the best in QLD. Golf course is actuall in the Brookwater part of Springfield.

Springfield is split up into varios sections. Some good, some not so good. A colleague of mine is currently building a house for investment there. The land is hard to come by as they only release a few every month and they get snapped up.

Apparently they have a convernant in regards to rental properties in some of the areas. Not sure how they hold you to it once it's been resold but apparently the limited one's that are for rent go for good weekly rates.

Will try to find out more. Just ask if you need me to check anything out.

Regards,
Jason