Research points to Richlands as place to get your money’s worth
$682,000 $510,000 $375,000 $322,500 $318,000 $280,000 $200,000 $280,000 40.8% 35.2% 28.7% 26.8% 21.1% 21.0% 19.0% 17.7% MATTHEW Dyer looked around for about nine months before he committed to buying an investment property at Richlands.
Mr Dyer was keen to buy a property which was included in the National Rental Affordability Scheme and checked out a few different suburbs around Brisbane during his search for a property.
The first suburb where he looked at properties was Richlands and after checking out other areas he ended up coming back to it.
Figures from RP Data reveal that Richlands has the best growth for five years and 10 years.
Its values went up 53.8 per cent over five years and 15.3 per cent over 10 years.
The current median house price in the suburb is now $480,000.
‘‘My reasons for investing in Richlands were due to its proximity to major infrastructure and other amenities,’’ Mr Dyer says.
‘‘It’s close to three highways, public transport, schools and shops and is within 30 minutes of both the Brisbane CBD and Ipswich CBD.
‘‘Also Brisbane City Council has a lot of retail and commercial development planned in the area during the next 10 years.’’
Mr Dyer has bought a threebedroom townhouse in the suburb which is about a 30-minute drive from Brisbane.
The townhouse has two bathrooms and a double garage.
He says there seems to be a lot of residential development happening in the area.
Mr Dyer said he was able to get more for his money by buying a little further out from the city.
The sale of the property in Villaggio, a new AV Jennings community in Richlands, settled in January and it is now rented through the NRAS scheme.
Mr Dyer said he believes the Richlands area, as well as his new rental property, have all the right elements for good future capital growth.