Then what makes you think that you'll be shielded from it?
The price relationship between existing and newly built a few streets down the road or a few km away will always exist it doesn't matter which suburb you're looking at.
Gladstone – Bubble to burst very soon ??
- Thread starter sam_oz
- Start date
Then what makes you think that you'll be shielded from it?
The price relationship between existing and newly built a few streets down the road or a few km away will always exist it doesn't matter which suburb you're looking at.
Ah ... because people consistently avoid Calliope and prefer to live at Boyne/Tannum. Beaches, rivers, water sports ... minor matters like that.
As I said ... everyone we spoke to said stay away from Calliope including some that had property there to sell ... when they got talking.
Position, Position, Position !!
We really have no personal preference ... we live in Brisbane. But it would seem pointless to have made the trip and spoken to people and not listened to a constant message.
As I said ... everyone we spoke to said stay away from Calliope including some that had property there to sell ... when they got talking.
Position, Position, Position !!
We really have no personal preference ... we live in Brisbane. But it would seem pointless to have made the trip and spoken to people and not listened to a constant message.
I think buying at $600k is a risk, why not buy at $400k something older and in town? Downside is much smaller and the potential for growth off a lower base in probably much higher. Also number of people who can afford $800pw is much smaller than in town at say $450-$500.
When the construction boom finishes I would not want to be holding your property.
If you plan to sell in 2 years u should do well but imo not a great long term play.
remember 2006 boom , properties at bottom end grew the most and fell the least in correction.
my two cents
When the construction boom finishes I would not want to be holding your property.
If you plan to sell in 2 years u should do well but imo not a great long term play.
remember 2006 boom , properties at bottom end grew the most and fell the least in correction.
my two cents
Anyone who thinks Gladstone is going to burst let alone "soon" doesn't know the town's history or future.
Gladstone has already had significant growth when the Rio Tinto Alumina Refinery was built from 2000-1 and property prices averaged ~ $120,000 and a new block of land was ~ $35,000.
All the sprukers were saying once construction had finished that property prices would crash, unemployment would be high because of all the workers who left jobs in town to work on construction wouldn't have jobs to go back to etc.
Guess what ...... didn't happen.
House prices softened a little (~5%) during the GFC but to date have only risen ~10% since pre GFC prices and in my opinion are going to keep going a lot higher as very few workers have arrived in town yet and it is already next to impossible to get a rental house.
Last year Commonwealth Bank figures showed the average wage in Gladstone was just over $80,000. So even with a $500 per week average rent price it is only 1/3 of the average wage.
Other than the 2 currently approved LNG projects Gladstone has a lot of other projects and expansions in the pipeline.
Think Gladstone is going to "burst" ........ I think not.
Gladstone has already had significant growth when the Rio Tinto Alumina Refinery was built from 2000-1 and property prices averaged ~ $120,000 and a new block of land was ~ $35,000.
All the sprukers were saying once construction had finished that property prices would crash, unemployment would be high because of all the workers who left jobs in town to work on construction wouldn't have jobs to go back to etc.
Guess what ...... didn't happen.
House prices softened a little (~5%) during the GFC but to date have only risen ~10% since pre GFC prices and in my opinion are going to keep going a lot higher as very few workers have arrived in town yet and it is already next to impossible to get a rental house.
Last year Commonwealth Bank figures showed the average wage in Gladstone was just over $80,000. So even with a $500 per week average rent price it is only 1/3 of the average wage.
Other than the 2 currently approved LNG projects Gladstone has a lot of other projects and expansions in the pipeline.
Think Gladstone is going to "burst" ........ I think not.
Hi
can you also please comment on the discussions related to Calliope ?
is it something to avoid because it is away from city ?
I guess you live Gladstone
The biggest issue against Calliope is traffic.
Until the overpass at the Bruce Highway is built, Calliope will continue to have an increase in traffic at the already congestion crossroads intersection.
Calliope was up until ~ 5 yrs ago a less desired area however these days is actually preferred by many as it is a quieter, family area and has less coal dust etc than some areas of Gladstone, has new shops, parks etc and is ~ $75,000 less than for an equivalent house in Gladstone for only an extra 15 min drive.
As stated Boyne / Tannum is preferred by those who like the beach / coastal lifestyle however that comes with the extra price tag in property prices and rent.
Until the overpass at the Bruce Highway is built, Calliope will continue to have an increase in traffic at the already congestion crossroads intersection.
Calliope was up until ~ 5 yrs ago a less desired area however these days is actually preferred by many as it is a quieter, family area and has less coal dust etc than some areas of Gladstone, has new shops, parks etc and is ~ $75,000 less than for an equivalent house in Gladstone for only an extra 15 min drive.
As stated Boyne / Tannum is preferred by those who like the beach / coastal lifestyle however that comes with the extra price tag in property prices and rent.
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sound advice for property investment in general. Buying what the masses demand and can afford in any area is crucial.
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Does anyone know when the majority of workers will be needed or likely to arrive? We've seen all these new projects happening in the media but the hubby has been looking for work up there but has had no interest from the big companies/agencies. It seems what we hear in the media with regards to the number of workers needed either isn't happening or were looking in the wrong places..
Anyone work up there in the mining sector that can give us some REAL information??
Ems
Anyone work up there in the mining sector that can give us some REAL information??
Ems
Thanks Rooster,
Hubby is a welder. He was told about 4 months ago that more earthworks were happening and that would be the case for a while so more workers in that side of things would be needed. I guess the best thing to do is just keep in contact with the companies and see what comes of it.
It's hard not being up there and I'm sure the companies would go with a local over someone interstate/overseas but we can not move up without the work. Catch 22 really..
Hubby is a welder. He was told about 4 months ago that more earthworks were happening and that would be the case for a while so more workers in that side of things would be needed. I guess the best thing to do is just keep in contact with the companies and see what comes of it.
It's hard not being up there and I'm sure the companies would go with a local over someone interstate/overseas but we can not move up without the work. Catch 22 really..
Just keep on applying online. Most of the jobs are on seek.com but I imagine you are already looking at that. I don't believe the companies prefer locals over others, they are more interested in qualifications, tickets and experience. The place is getting a lot busier lately and I notice the motels rarely have vacancies. I was speaking with a lady looking for a place to rent the other day (quality tenant) and she says its hard to get a look in even though there are a few places on realestate.com.
The construction workforce won't really start ramp up until about Q3 this year once the initial civil works is at a stage to allow work on other areas really to start.
Locals get preference if they have the required skills etc as they don't require housing, living away from home allowance etc
Your best bet would be to find a job in town, move here then look at jobs on construction.
Locals get preference if they have the required skills etc as they don't require housing, living away from home allowance etc
Your best bet would be to find a job in town, move here then look at jobs on construction.
Calliope tradionally was where the "poorer' people lived, now when I say that I am including druggies and misfits etc, So we might say it has its more than its fair share of lower socio economically developed persons so historically it has had a bad rep for that reason. Naturally of course once rents rise enough many of those people will be forced to leave.
Also it is one very dry ugly barren looking place historically. We had the best wet season up here for decades last/This year so Calliope looks niceish in term of greenery, however if the rainy seasons don't stay then Calliope will revert.
I have a friend/aquaintance trying to do a 40 lot subdivision in Calliope and it is on hold momentarily, the costs are going up as well as the Council requiriements. Does not worry him to much as it is long time historical family property, however there are a number of subdivisions nearbye in the pipeline/development approval etc that ensures that many hundreds of blocks will be available in the next few years in Calliope. There are vast acreage properties in the area that could accomodate any growth requirment in the Calliope area.
The rent is getting much better In gladstone, Calliope, Tannum etc, but house prices have not yet reflected this significant increases in rent yet.
I live in the area and it is hard to imagine the area going bad unless you had a world wide depression type scenario that put an end to some of the projects planned by the incoming gas developments etc.
There is currently a lot of land available for subdivision and with some land repossessions in the planning by the local council their will for example be significant land available in the Tannum area, so there is and will be ooddles of land available to accomodate growth medium to long term.
Also it is one very dry ugly barren looking place historically. We had the best wet season up here for decades last/This year so Calliope looks niceish in term of greenery, however if the rainy seasons don't stay then Calliope will revert.
I have a friend/aquaintance trying to do a 40 lot subdivision in Calliope and it is on hold momentarily, the costs are going up as well as the Council requiriements. Does not worry him to much as it is long time historical family property, however there are a number of subdivisions nearbye in the pipeline/development approval etc that ensures that many hundreds of blocks will be available in the next few years in Calliope. There are vast acreage properties in the area that could accomodate any growth requirment in the Calliope area.
The rent is getting much better In gladstone, Calliope, Tannum etc, but house prices have not yet reflected this significant increases in rent yet.
I live in the area and it is hard to imagine the area going bad unless you had a world wide depression type scenario that put an end to some of the projects planned by the incoming gas developments etc.
There is currently a lot of land available for subdivision and with some land repossessions in the planning by the local council their will for example be significant land available in the Tannum area, so there is and will be ooddles of land available to accomodate growth medium to long term.
Finally up here in Gladstone now , experiencing the same as you said .
Lot of land available for new development even in inner city suburbs like Clinton , New Auckland and Eden. Looking eye on some land areas near by New Auckland , interestingly it is cheaper ( empty land ) than Calliope
I am wondering Calliope is considered as a second choice for Gladstone due to massive rent hike or whatever happens in Gladstone , we don't bother we want to live in Calliope because we liked it !! What local feels ?? Ideally now no difference or difference is very minimum buying house in Calliope or in the city
A few of the bigger companies ahve even been looking to buy up Motels as far south as Miriam Vale area to ensure accomodation now and relatively quickly.
Some of the van parks are upgrading, as they will be throwing the previous tennant out when they can and renting to the big companies. These sorts of things are allready on the go.
God knows why anyone would buy in Calliope when for similar money you could buy in Gladstone. What I wll say about that is that you can buy bigger blocks out Calliope way, so those who want a bit more land may go out there.
A friend of mine who is real estate agent in Calliope is telling me that the average new rental now is 490 bucks a week at the moment. 3-6 month leases are the go as the landlords know that every 3-6 months with the continuation of the current demand they can put the rent up 50-100 bucks.
The good jobs in gladstone at the likes of the Port Authority are earning 100 grand plus, so it will be interesting to see what happens when rents start climbing to that 7-800 dollar mark, assuming they do of course, becasue event the better paying jobs will be stretched.
If I was a worker in the area, I would head to the likes of Bororen and Miriam Vale. These areas are 50-60ks south of Gladstone but you can still buy blocks of land for under a hundred grand no problem. You can still buy 5 acre blocks that are subdivideable for around the 150 grand mark.
A lot of ifs and buts for those who want to take the chance.
A friend of mine in the Police in Gladstone is saying that they are looking to increase staffing by 30 odd police over the next few years but they don't know how they are going to do it. The average second year constable would be on about 60 grand, so you can imagine if that person has a family and is forcibly transferred to Gladstone(They are the only ones they would be able to forcibly send there) how they hell they are going to live. If you have to pay 500-600 bucks a week and more for rent then there won't be much living being done.
The government is going to have to step into the market and secure cheap accomodation in some way for their workers and or give them extremely generous housing benefits.
No doubt this would apply to all government agencies.
Some of the van parks are upgrading, as they will be throwing the previous tennant out when they can and renting to the big companies. These sorts of things are allready on the go.
God knows why anyone would buy in Calliope when for similar money you could buy in Gladstone. What I wll say about that is that you can buy bigger blocks out Calliope way, so those who want a bit more land may go out there.
A friend of mine who is real estate agent in Calliope is telling me that the average new rental now is 490 bucks a week at the moment. 3-6 month leases are the go as the landlords know that every 3-6 months with the continuation of the current demand they can put the rent up 50-100 bucks.
The good jobs in gladstone at the likes of the Port Authority are earning 100 grand plus, so it will be interesting to see what happens when rents start climbing to that 7-800 dollar mark, assuming they do of course, becasue event the better paying jobs will be stretched.
If I was a worker in the area, I would head to the likes of Bororen and Miriam Vale. These areas are 50-60ks south of Gladstone but you can still buy blocks of land for under a hundred grand no problem. You can still buy 5 acre blocks that are subdivideable for around the 150 grand mark.
A lot of ifs and buts for those who want to take the chance.
A friend of mine in the Police in Gladstone is saying that they are looking to increase staffing by 30 odd police over the next few years but they don't know how they are going to do it. The average second year constable would be on about 60 grand, so you can imagine if that person has a family and is forcibly transferred to Gladstone(They are the only ones they would be able to forcibly send there) how they hell they are going to live. If you have to pay 500-600 bucks a week and more for rent then there won't be much living being done.
The government is going to have to step into the market and secure cheap accomodation in some way for their workers and or give them extremely generous housing benefits.
No doubt this would apply to all government agencies.
