The 2017 Guide To Building Inspections In West Brisbane
The prediction for 2017’s property market in Brisbane’s west is for solid growth in housing. Apartments aren’t expected to experience the same rise due to below average growth in the population and the massive multi-dwelling building boom which has oversaturated the market. Want to know more before you buy in 2017? Here’s your must-read guide to what building inspections are revealing in west Brisbane.
Get on board in the ‘year of renovations’
Growth in the west is partially assured thanks to another boom in renovations, spurred on by home renovation television. 2017 has been dubbed the ‘year of renovation’ in some real estate circles, as the trend towards buying ‘fixer uppers’ and flipping them continues.
Channel Seven News recently reported that renovated properties in South East Queensland are likely to be the most popular properties to come to the market in the year ahead, with Queenslanders spending a whopping $7 Billion on renovations in 2016. The 2017 prediction is even bigger at $8 Billion.
What this means is plenty of fun to be had if you’re a fan of DIY, and plenty of exciting housing options on the market if you’re keen to buy this year. But be warned – this also means the potential for renovations to be completed by amateurs who are keen to save money and maximize property values.
This is where buyers need to take caution. The shine of a newly renovated home in the western corridor can easily distract the eye from shonky DIY renovation work. That’s why it’s essential to carry out building inspections on all west Brisbane properties.
West Brisbane hotspots for 2017
Before you get too excited about renovations, you’re likely wondering where the gems of the 2017 market will be found in Brisbane’s west?
Toowong has been mentioned as a front runner due to it being close to good schools and the University of Queensland. It has good infrastructure and is still an affordable suburb close to the CBD.
Neighbouring suburb Taringa is also said to be a good pick because it has access to all the same conveniences as its blue chip neighbours but offers better value with a mix of newer and older style homes.
Further out towards Ipswich both Raceview and Redbank Plains are predicted hotspots, primarily due to their increased sales volumes in 2016.
Considered the Ipswich Corridor?
Although you’ll find colonial homes in suburbs like Sherwood, Chelmer and Toowong, many of these have already had the renovation treatment in recent years. In these areas, you’ll be paying a premium to enjoy restored character homes in prime suburbs.
But don’t feel as though you’ve missed the colonial renovation boat. Take a quick 30 minute drive down the Ipswich Motorway to the heart of Ipswich and you’ll see untouched beauties with exposed weatherboard and other vintage features crying out for a complete overhaul – and at a very reasonable price.
Alternatively, this is a region where you’ll find plenty of renovator’s delights with strong shells but perhaps in need of a restump or new tin roof. There are also plenty of retro gems that are simply stuck back in the 70s or 80s and are in need of a good interior update.
In line with the 2017 renovation theme, Ipswich’s historical buildings in the city centre are also getting facelifts. These include the Goleby & Sons building, built in the late 1800s, and the City View Hotel, built in 1908. The former fire station in Limestone Street has recently been converted into Firestation 101, a hub for innovators, start-ups and entrepreneurs.
And while Queensland’s oldest provincial city is being restored back to life, new developments have already taken shape or are on track to start.
Late last year final designs for the $150 million redevelopment of the Ipswich CBD were unveiled. A new Mater Hospital opened in Springfield, new schools have opened their doors, the state government has been awarded a tender to build a $190 million railway maintenance centre in Wulkuraka, and a $550 million Dusit Thani Brookwater Golf and Spa Resort hit the market last year. To say this is a growth area is an understatement!
Could it be that many business owners are catching onto the fact that Ipswich not only has history but loads of potential? Strong and more stable job figures in Ipswich are also said to be a force encouraging growth in the area. Combine these factors and Ipswich certainly looks not only like a renovators dream location, but a future growth spot for real estate.
Go west for big opportunities
Let’s face it, not everyone is up for renovating or living in an old home with all its eerie sounds, imperfections and maintenance requirements. That’s where Ipswich creates opportunities for both tastes – the old and the new. Springfield Lakes has been a long-time favourite for home buyers and investors but with its house prices predicted to plateau, new master planned developments such as Ecco Ripley and Providence in South Ripley, just ten minutes down the Centenary Highway from Springfield Lakes, are hefty competition. Jane Pinder of the Courier Mail supports this with her report that South Ripley is an emerging suburb hotspot due to its 26 percent population increase in just three months at time of reporting in September 2016.
Before you consider buying in west Brisbane, read this.
It all sounds very promising, doesn’t it? There’s no doubt that the western corridor has always had potential, but be sure to do your homework. If you’re looking at a renovator or a property that has already been renovated, have a professional experienced in building inspections in west Brisbane suburbs do a check of your potential home or investment. It’s simply peace of mind and a smart way to invest.
The same goes for new properties, too. West Brisbane and Ipswich experience erratic weather. The climate can present extreme dryness which can be followed by heavy rainfall. This can have a negative impact on properties, leading to drainage problems, pest infestations and moisture damage. What’s more, fast repairs following an insurance claim risk not meeting the latest Australian building codes and standards. Don’t take a risk! Always book an inspection.
We’re excited about the 2017 property prospects but our main goal is to ensure that your purchase this year is a positive one. Choose expert building inspections in West Brisbane and surrounds for complete peace of mind.