Geraldton? What are your thoughts???

Discussion in 'Where to Buy' started by kerod, 23rd Feb, 2012.

  1. kerod

    kerod Member

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    Hey guys,

    Im thinking of getting into the WA market to take advantage of the mining boom. Places like karratha and port hedland are out of my price range so I was thinking of Geraldton. The place is supported by several other industries and it looks like oakajee might go ahead. Then there is the 2.5 billion observatory that could be awarded soon. Do you think this is a good place to invest?
     
  2. Ergophobia

    Ergophobia Member

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    I would buy there if I could... Gero isn't dependant on mining but will benefit from it... Mitsubishi are now actively involved in magnetite mining in the mid west as well as opr, so big things are on the way.
     
  3. Jake D

    Jake D Hi Vis CAD nerd.

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    Would have been good to buy 3 months ago when Oakajee confidence was down. But still got some potential in my opinion.
     
  4. Mr Investor

    Mr Investor Member

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    Stick To Mining Towns In Qld

    Have been in north qld for many years - its closer and still booming
     
  5. Aaron Sice

    Aaron Sice Seldom Seen Kid

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    closer to who? are you suggesting WA isnt "booming"?

    because from where i stand, no where in this country is "booming".....
     
  6. mrsswan

    mrsswan Member

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    Hey kerod- this morning there were seven ships waiting in line to get into the port- even if oakajee doesn't go ahead the mining side of things is absolutely cranking. Hubby working on the major development at the existing port at the moment and there are hundreds of millions being spent. You just need to drive around town and see how many mining cars are here now compared to a few years ago(and audis!).
    The exciting thing coming up in April is the ska announcement- could be awesome! How cool to have such a huge project driven by science and technology rather than mining. Here's hoping- it really would put Gero on the map if it came through:cool:
     
  7. Ergophobia

    Ergophobia Member

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    im 99% sure the SKA will go ahead... We are already planning projects to avoid the SKA and designing them within the noise specifications in areas close by.

    I heard a funny quote the other day "instruments have not yet been invented that can measure the noise we arent allowed to emit" :)
     
  8. Dazz

    Dazz Banned

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    Born and bred in Gero.

    Humble beginnings in the suburb of Rangeway, a few years back listed in some property rag as the worst suburb in the whole of Australia.

    I'd have to agree. :)
     
  9. mrsswan

    mrsswan Member

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    Hey dazza rangeway is pretty dodge but hey i can think of heaps worse! I grew up in mount tarcoola so we probably went to the same high school. Ergophobia your work sounds interesting- what do you do?
     
  10. Ergophobia

    Ergophobia Member

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    I am working on a number of magnetite mines outside Gero, trying to get the numbers to stack up to make oakajee viable.
     
  11. mrsswan

    mrsswan Member

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    Well Ergo keep working hard and get those numbers happening! :D
    Kerod-Let me know if do decide to buy and what you are after- have some newly built props in good area if interested-or more than happy to give local opinion on any potential props you may have your eye on;)
     
  12. PCS

    PCS Member

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    Pcs

    Hi Kerod

    Have you decided whether or not to invest in Geraldton.
     
  13. Peter Parker

    Peter Parker Member

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    Only if the yield is sufficient to outweigh all the extra holding costs associated with having a more distant property AND you consider it better value than a capital city IP.
     
    Last edited by a moderator: 20th Apr, 2012
  14. Belbo

    Belbo Moreover a misfit

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    Nah. Waggrakine was definitely more depressing. I lived in both!
     
  15. HotRod

    HotRod Rental Liverofferer

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    Geraldton, Australia's nursery for property investors. :D
     
  16. DDDKEFather

    DDDKEFather Member

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    Opr

    Hi All,
    I was over in Geraldton in Jan 12 there is quite a lot of work going on around Geraldton, I'm from Sydney.
    A couple of questions I have for the Geraldton residents.
    I have been trying to find out what the latest news on oakajee was. Does anyone know if it is going ahead?
    I'm looking to buy an ip in WA but I'm trying to decide between Perth and Geraldton. I have some ip's in Wonthella which I bought about 8 years ago and I'd liked to invest around the Geraldton area again if oakajee is going ahead.
    Something else I'd like to know is how confident are people around Geraldton that the ska will be built in WA?
     
  17. Ergophobia

    Ergophobia Member

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    Mitsubishi are trying to get opr and jack hills off the ground and are taking a long term view on the project and prospects in the mid west.

    An investment decision is still a long way off tho, 1 year at best, probably 3.
     
  18. DDDKEFather

    DDDKEFather Member

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    opr

    Thanks for the info Ergophobia. Since my first post I found a link http://australianminingreview.com.au/?p=115 which goes into a lot of detail of the proposed mining projects around the mid west of wa, a lot of the projects hinge on the opr. I think geraldton has a good chance of going big time if all these projects happen. What are your thoughts, with you being closer to things over there?
     
  19. INVSTOR

    INVSTOR O+

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    I tried to buy a unit in Rangeway just before Perth boomed. 6yrs ago possibly. I offered $130k on a 2 or 3 bed villa, the asking price was $135k. The vendor wouldn't accept my offer and got offered $135 a few days later. I drove up there a few years later, and thought, so glad my offer didn't get accepted. I think it may definately be worth a visit there before investing. It's very different to investing in a capital city.
     
  20. foxyleemoo

    foxyleemoo Member

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    Hi,

    Rangeway has come onto my radar, based on getting a fair discount to asking/market price and receiving a good rental return.
    I've never been to geraldton/rangeway but from my research i'm pretty sure rangeway is a less desirable/lower socio economic area of geraldton.
    Does anyone, maybe locals have some info regarding the kind of tenants i'd expect to have in rangeway?
    Any experiences, good/bad or otherwise, investing in geraldton/rangeway?
    Any comments would be greatly appreciated.

    Thanks

    Dave