Why is this pocket of Eight Mile Plains (Brisbane) so cheap?

[jerrybee]

Most of EMP sells for quite a premium. But recently I've noticed a number of houses in this little pocket at around the 500k mark:

http://www.realestate.com.au/property-house-qld-eight+mile+plains-119888409

It's close to the free ways, but then again so are many other (expensive) parts of EMP. Anyone know what's wrong with the area?

 

[Bran]

Most of EMP sells for quite a premium. But recently I've noticed a number of houses in this little pocket at around the 500k mark:

http://www.realestate.com.au/property-house-qld-eight+mile+plains-119888409

It's close to the free ways, but then again so are many other (expensive) parts of EMP. Anyone know what's wrong with the area?

This is cheap? For only 450m2? I'm truly surprised.

 

[jerrybee]

This is cheap? For only 450m2? I'm truly surprised.

Yes, that's cheap.

 

[jerrybee]

I figured it out. Looked on google maps. Looked across the street. Slowly backed away.

 

[twistedstats]

Ha....I took a look out of curiosity. Google street and satellite view is my favourite tool for due diligence from afar.

 

[jwu2]

The property was sold for $580K on a 850 m? block with subdivision opportunity in June 2014.

It?s now selling for $450k +but only for half of the block (450 m?), this should also explain the reason why it is ?cheap?!

http://www.realestate.com.au/property-house-qld-eight+mile+plains-116725995
http://www.realestate.com.au/property-house-qld-eight+mile+plains-119888409

 

[MWDB]

Its just a sub station - whats the issue? I know this area quite well though.

 

[jerrybee]

The property was sold for $580K on a 850 m? block with subdivision opportunity in June 2014.

June 2014. The market has moved quite a bit in the last 12 months.

 

[datto]

I was at EMP at Xmas '13. Seemed like a nice place. Stayed at a motel on a corner across from a shopping centre.

Down the road there was another shopping centre with a huge asian population. What I noticed was heaps of space, big blocks and wide streets. Not cramped in like Sydney.

 

[jerrybee]

I was at EMP at Xmas '13. Seemed like a nice place. Stayed at a motel on a corner across from a shopping centre.

I assume this is what you're referring to:

https://www.google.com.au/maps/@-27...m2!1skBn9oSQUejfisBAMdSFlsg!2e0!6m1!1e1?hl=en

Down the road there was another shopping centre with a huge asian population.

And this:

https://www.google.com.au/maps/plac...44d90414fbcb:0x92ccd6eb69a94ff9!6m1!1e1?hl=en

 

[MWDB]

Eight Mile Plains has a major shopping centre called Westfield Garden City - I am a local around here and it has recently had a major extension. Down the road there is Sunnybank which is an Asian centre with heaps of great food and a distinctly different culture. Its actually a really good place as Eight Mile Plains is literally the crossover for 4 directions of highway. To the airport or to Ipswich along the gateway, or to the goldcoast/city along the pacific. It also has a technology park and the last stop on the express bus-route. This route takes you direct to the city or you can interchange to other routes. You also get free travel from this station to Suncorp when the footy is on.