Search results

When I looked at the history of the area I came to the conclusion it's just very volatile. So while it's in the dumps now it can quickly change and be a boom again. Very hard to see it at the moment after 3 years of being in the dumps but 2 big announcements and it's all on again...

Finally some good news! I hope the reef will be OK... 1000 construction jobs (4 years worth) then 300 permanent operational. Vacancies back up again this month to 5.3%.

Finally some good news! I hope the reef will be OK... 1000 construction jobs (4 years worth) then 300 permanent operational. Vacancies back up again this month to 5.3%.

Agreed. Happy it's found a floor and hopefully a 5% clawback in prices this year.

Interestingly, the 'Matusik Property Pick' email I just received is now spruking Gladstone developments... I'm not sure what to make of it, it's obvious he makes kickbacks on the sale of new developments, but I've always thought Matusik was pretty solid. Does Gladstone really have good...

Stock on market back down to 1,263 (from a April 13 high of ~1,800). Last time stock was at this level was around Oct 2011. Rents up 6% in the last quarter. Hopefully the doom and gloom mindset continues (and the reality over swings back to a rental shortage).

Looks like wrapping / vendor finance. Good news is vacancy rates continue to drop, down to 4.9% from a high of almost 12%. Same with stock on market, 1700 (Apr 13) down to 1290 (Dec 14). It was 800 throughout the height of the last boom period. I don't expect a boom times to return...

I mean, how do you feel they are in regards to managing the tenant requests for repairs and maintenance (do they vet them) and selecting tradies (are they good value tradies or do you feel you are getting ripped off). e.g. I was charged $600 to clean a house that was already clean to make it...

Hi Avatar - how are Gladstone Property Plus with regards to expenses? I'm having lots of troubles with mine with expenses averaging $100pw in the last FY.

I bought Matusiks Gladstone report. FYI It was written earlier this month, so the news is up to date. It should be useful for anyone who is wondering if they should buy or should sell. I don't want to rip Michael off by telling you what is in this report, but I'm going to hold my two after...

Good update Norwoodman, kudos. I wonder when his $50 report came out and if it's useful? He seems pretty keen on Gladstone. Tell you what, wish I paid todays prices for what I have there now. It easy to be too doom and gloomy on the area, it's great to have data on the future.

Agree totally. Some parts of new Auckland are really nice and homes still selling for 550 - 650k.

With the current over supply and 10%+ vacancy I have no idea why anyone would build!

I agree Neil. Not only do I think it will overshoot I think it has. There still seems to be loads of activity in the area now and in the pipeline. It may even be getting close to a good time to buy. I certain would not build a H&L package, regardless of NRAS or whatever, anyone considering...

Yes, it's interesting. In the same way everybody thought the boom was going to last forever, I can't help everybody is too doom and gloomy and will also overshoot the downturn. A look at Gladstone's history will show you the area is very voliatie. Demand for LNG will only ever grow...

-> http://somersoft.com/forums/showpost.php?p=1080739&postcount=825 Is it too late for Western Sydney? I was looking to buy two places out there 2 years ago now and build granny flats and I hear it's pretty hot now. I wish I had have done this rather than the Gladstone ones but live and learn.

Yep. Ouch. Would be great if people stopped building H&L packages :)

Wise words. Everybody gets spooked thinking whatever happened in the last 6 months is what will continue to happen forever (booms and busts). Look at the history of Gladstones house prices, it's very boom and busty, but the long term fundamentals are solid. To say it's 'crashed' is an...

I'm just signing up a new tenant - $750pw for 12 months - 8yo 4/2/2 on 1/4 acre with pool. It's not all that bad :)

When is this going to happen though, if ever? Surely with this mind boggling level of activity this city will keep pumping for decades to come?