Re­search points to Rich­lands as place to get your money’s worth

The Courier-Mail - Property - - INFOCUS -

$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.

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