I am currently considering investing in a house & land package in Dalby, Queensland.
On the positive side, the economic outlook for the area (Surat Basin) appears extremely positive (coal; coal seam gas; ethanol; gas & missing link railway to Gladstone being constructed; existing agriculture). Population is expected to increase by 50% in the next 5 years. Facilities in the town are also developing (with a new $50milln shopping centre being constructed)
Yields seem to be around 6%+ (pretty good). There also seems to be a scarcity of new homes available for rent or for sale (most existing homes in the town are much older/smaller). The package I was looking at is in an estate around 3 minutes from town centre on 1 acre with a new quality home to be built.
My concerns - the possibility that the availability of new land may oversupply the market, therefore limiting prospective capital growth. A search on real estate.com brings up about 107 results for land in Dalby, most pretty close to the town itself.
Has anyone had any experience of the area or have any comments/suggestions?
thanks
On the positive side, the economic outlook for the area (Surat Basin) appears extremely positive (coal; coal seam gas; ethanol; gas & missing link railway to Gladstone being constructed; existing agriculture). Population is expected to increase by 50% in the next 5 years. Facilities in the town are also developing (with a new $50milln shopping centre being constructed)
Yields seem to be around 6%+ (pretty good). There also seems to be a scarcity of new homes available for rent or for sale (most existing homes in the town are much older/smaller). The package I was looking at is in an estate around 3 minutes from town centre on 1 acre with a new quality home to be built.
My concerns - the possibility that the availability of new land may oversupply the market, therefore limiting prospective capital growth. A search on real estate.com brings up about 107 results for land in Dalby, most pretty close to the town itself.
Has anyone had any experience of the area or have any comments/suggestions?
thanks