Collingwood Park

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There are certainly opportunities in the current 2019 market to pay less than the prior selling price.
But is there really such a thing as buying a bargain when it comes to property? And where are they?
This series of articles looks are specific examples of sale price or asking price falling. 
We take a look at where and if possible why this is happening.
We came across this property for consideration.
A three bedroom Collingwood Park, Queensland house located 12 kilometres from Ipswich CBD has seen its listing reduced by $60,000 over 400 days before finding a buyer.
In February 2018 the vendors sought $329,000, however after reducing the asking price three times they finally accepted $269,000, a price slightly lower than what they had purchased the property for in 2015.
Four years ago, in 2015, the property traded for $275,000, up on what it sold for in 2007 when it transacted for $250,000.
Judy Eddy of Action Realty marketed the listing.
Situated at <a href="https://www.realestate.com.au/sold/property-house-qld-collingwood+park-129971938" target="_blank">64 Goss Drive</a>, the three bedroom, one bathroom home features an open plan living arrangement and a new kitchen.
Set on 686 square metres the listing said, "this home is cheap as chips and perfect for a first home buyer or investor".
Last listed as a rental in 2012, it sought $310 per week.
An increase on the asking rental price in 2010 of $285 per week and the listed rental price in 2007 and 2008 of $250 per week.
According to the listing, the rental return on this home could be $310.00 - $320.00 per week.
<img src="https://www.urban.com.au/images/2019/7/10/Collingwood%20Park%202.JPG" alt="">
Property Observer advise that it is up to you to determine if the offering is a truly beneficial bargain.
Remember buying at the bottom of the cycle is fraught – as you can't really precisely pick the bottom nor know just how long until you see some price growth.
Be aware you could be buying a poor quality property in an area with ongoing issues of oversupply of stock.
The oversupply could be also putting downward pressure on rents.
Other price declines could be because the vendor needs a quick sale or paid way over the top on its last purchase chase.
Property Observer suggests property purchasing really does need to be a very well considered proposition with a long-term mindset.
As a part of this series, we've already had a look at properties in <a href="/expert-insights/buying/bargain-property-at-mount-eliza-home-at-2-million-discount">Mount Eliza</a>, <a href="/expert-insights/buying/bargain-property-in-central-geelong-sale-price-dips-after-one-year">Central Geelong</a> and <a href="/expert-insights/buying/bargain-property-in-east-perth-near-new-apartment-makes-150-000-loss">East Perth</a>.
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Bargain property in Collingwood Park? House sold for a small loss

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Almost $4 million in sales have been counted at the Collingwood Park-based Woodlinks Village,  with construction of the first stages of the community now complete.
Nine homesites in stages one and two have sold with prices ranging from $185,000 to $205,000 for lots ranging from 435sqm to 624sqm.
Five of eleven home and land packages have also been snapped up, with the remaining six homes now complete and ready to move into, priced from  $352,900 to $393,900.
Sam Burgess, Queensland development manager of The Village Building Co.  said it was no surprise the first stages of homesites and house and land had sold so quickly.
"WoodLinks Village is ideal for young couples starting out, who are looking for an opportunity to get ahead and purchase a brand new homesite or home at an affordable price with flexible deposit terms," he said.
"WoodLinks Village is centrally located with bus interchanges,  train stations and arterial roads providing easy access to the Brisbane CBD, which is just 30km away, so it's an ideal address for those who want city convenience without paying city prices."
For more information about WoodLinks Village, <a href="https://www.woodlinksvillage.com.au" target="_blank">click here</a>. 
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