Investors ask: Springfield, Queensland
"I’ve found the suburb I want to buy in, but it has a high crime rate and I’m concerned about the risks associated with that. What precautions do I need to take to ensure my property is safe?"
YOU’VE MISSED the boat. Prices have increased and the discounts on list price are virtually zero.
Brisbane’s done for those who are going to make great money, but you’ll make ‘okay money’ if you buy there.
In Spring field, you’ll want to stay away from the streets near the train line. They ’ve had issues with cracking on the walls. I would stay closer to Spring field Lakes than Spring field.
The demographics are completely changing, and will change over the next five years as people working in Brisbane move out to the suburbs. You’re going to see some fantastic growth through there – it is a 25 minute drive from the city and about the same on the train line. You’ll see that whole section change.
Spring field Lakes is about a quarter developed, so they’re expecting triple population growth in the next few years.
You will make money, but you’ve missed the first 20 per cent – don’t expect to get a ‘deal’.
That said, it’s still a great suburb, great things are happening and the potential’s out there: the shopping centre expansion is happening, the university is going out there, they’re going to make a CBD and there are plans for the Spring field area to break away from Ipswich and start their own shire.
Todd Hunter, director, wHeregroup
