Not sure about rental inquiries increasing. Have just been advised to drop my rent by half! Hence registering for this forum ... I feel your pain. Obvious question is how long to hold out and how much faith to put in the promise of population growth. Will the vacancy rate really come down to a respectable level anytime soon?
I'm the same boat but not as severe
We have a 2 bed house In whyalla , had to drop rent from 330 to 250
Still a 5% yield on a subdividable corner block but definitely didn't turn out the way we planned
If you took out developers im certain we would of seen big capital gains, as the rentals available went from 20 in 2012 to around 180 today
Chinchilla has suffered a similar fate, over developed and a pretty small population 10k?
Did you buy existing or in an estate?
If your going to buy in these places you really have to minimise your risk, buy a cheap house in a desirable area which can be offloaded to a local if required.
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