Deniliquin

[keenas]

Hi

Anyone considered buying or have already bought property in Deniliquin NSW ?

regards

keenas

 

[Propertunity]

Anyone considered buying or have already bought property in Deniliquin NSW ?

Considered it for about 1 milli-second. Then said "no" because:
30% single parent households
Most income earners there make $26-40K
Less than 10,000 people live there

Yes, prices went up by 10% last year. This is more of a 'slow and steady wins the race' type of long term buy & hold IMO.

 

[keenas]

The rice mill which closed down 2 years ago is about to reopen employing 100 people.

You can buy an older style home in deni for around $120,000 that will rent for $200 a week. Demand for rentals is strong and exceeding supply. Isnt this a combination for good Capital Growth ?

Good opportunity exists for renovations to add value or sub divide - most houses on large blocks.

Its hard to know where to put your hard earned bucks. Deni just looked like a good bet to me.

 

[Propertunity]

The rice mill which closed down 2 years ago is about to reopen employing 100 people.

....and if it closes down again?

You can buy an older style home in deni for around $120,000 that will rent for $200 a week. Demand for rentals is strong and exceeding supply. Isnt this a combination for good Capital Growth ?

Nope not really. The trade-off for high yields like that is low(er) CG. You can't normally have both. The vacancy rate in deni is currently 2.6% - nothing to write home about.

Good opportunity exists for renovations to add value or sub divide - most houses on large blocks.

Now you might be onto something here.

Its hard to know where to put your hard earned bucks. Deni just looked like a good bet to me.

It's your money - you bets it where you want to.

Personally, I favour areas that have high sales demand where supply is low and people are high income earners.

 

[keenas]

I spoke to Management from Sunrice today and was assured that there was enough water in the catchments to keep the mill open for another 5 years even if they dont get another drop of rain during that time.

Rental vacancy rates are presently below 1% according to the 3 agents that I phoned.

Im 2 hours away from deni but am planning a trip over to check it all out and get a feel for the place.

Will let you know how I go.

I will be taking my cheque book with me

keenas

 

[Rooster]

Rental vacancy rates are presently below 1% according to the 3 agents that I phoned.

They are lying to you......

http://www.sqmresearch.com.au/graphs/graph_vacancy.php?postcode=Deniliquin+&t=1

Cheers

Rooster

 

[recruit2]

The rice mill which closed down 2 years ago is about to reopen employing 100 people.

You can buy an older style home in deni for around $120,000 that will rent for $200 a week. Demand for rentals is strong and exceeding supply. Isnt this a combination for good Capital Growth ?

Good opportunity exists for renovations to add value or sub divide - most houses on large blocks.

Its hard to know where to put your hard earned bucks. Deni just looked like a good bet to me.

Lol 100 people! They probably already live there and are currently unemployed

 

[keenas]

Hey thanks for that link Rooster.

I am going to have fun with that great research tool.

got anymore ?

Keenas

 

[Propertunity]

great research tool. got anymore ?

There are plenty more, all of which indicate you should leave your cheque-book at home (sorry to rain on your parade )

http://www.myrp.com.au/showProductDetail.do?reportTypeId=1&propertyId=

http://www.investsmart.com.au/property/search.asp