No, I don't think flooding would be an issue and mozzies not worse then any other place in Gladstone. Might be pretty noisy that the eastern end of the airport runway though.
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Gladstone QLD - How is it Going????
- Thread starter charlieandkath
- Start date
No, I don't think flooding would be an issue and mozzies not worse then any other place in Gladstone. Might be pretty noisy that the eastern end of the airport runway though.
Well my 12 month lease is up in May and the nice tenants are not staying.
$650 per week they were paying.
I'm trying to re-lease at $550 per week, for a 4/2/2 furnished in Kirkwood. Long way from $940 I was getting 18 months ago! Sheesh!
Anywho, thoughts about trying for $550?
Cheers,
James
$650 per week they were paying.
I'm trying to re-lease at $550 per week, for a 4/2/2 furnished in Kirkwood. Long way from $940 I was getting 18 months ago! Sheesh!
Anywho, thoughts about trying for $550?
Cheers,
James
http://www.realestate.com.au/property-house-qld-kirkwood-412962799
This one is also in Kirkwood for $420.
Is you IP a larger house? Our was it one of the small houses on small blocks of land? You may be able to get away with a larger asking price if you have the larger block.
Having a larger block won't make much difference to the rent. Unless it is an executive property, the modern 4 bedders are generally going between $400-450 a week.
Our tenants lease will expire at the end of May. They are currently paying 380 a week (3 bed weatherboard house on Toolooa Street) and have offered to pay 330. Agent is advising we take it. This time last year they were paying 480 and soon to be 330. I hope it doesn't go down any further..
Time for the contrarians to enter the market soon I think now that the herd has disappeared.
Good buying now you think Norwoodman?
It isn't without risks given the high vacancy rates (which could go higher yet once the LNG workforce winds down) and postcode lending restrictions currently applied on 4680, but there are a lot of distressed listings starting to pop up asking massive discounts. Might watch this space for a while.
Matusik's thoughts in this recent article echo my thoughts and sentiment on Gladstone - plenty of distressed listings and not much competition for buyers:
http://matusikmissive.com.au/2014/06/12/gladstone-market-outlook/
http://matusikmissive.com.au/2014/06/12/gladstone-market-outlook/
Good update Norwoodman, kudos. I wonder when his $50 report came out and if it's useful?
He seems pretty keen on Gladstone. Tell you what, wish I paid todays prices for what I have there now. It easy to be too doom and gloomy on the area, it's great to have data on the future.
Just re-let at $410 pw
Forced to re-let to new clients for $410 p/w for 4/4/2 furnished in Gladstone.
Had to take it really, puts me in the hole for $7000 p/a - a long way from the $12K positive of the hay day!
Serves me right for not buying in a capital city
Any other on-the-ground updates guys?
Cheers!
Forced to re-let to new clients for $410 p/w for 4/4/2 furnished in Gladstone.
Had to take it really, puts me in the hole for $7000 p/a - a long way from the $12K positive of the hay day!
Serves me right for not buying in a capital city
Any other on-the-ground updates guys?
Cheers!
Forced to re-let to new clients for $410 p/w for 4/4/2 furnished in Gladstone.
Had to take it really, puts me in the hole for $7000 p/a - a long way from the $12K positive of the hay day!
Serves me right for not buying in a capital city
Any other on-the-ground updates guys?
Cheers!
Here's what I've noted on the ground here in Gladstone.
There are quite a few distress and massively discounted sales starting to pop up now - an older 3 bedroom house that would have fetched over of $350k 18 months was listed at $290k and sold for $230k recently. There's another townhouse nearby that was bought off the plan back in 2010 for $380k and now listed for $295k.
Rental decreases are still occurring but have slowed - the vacancy rates are very elevated but gradually dropping since beginning of the year.
Lot of fish went for the Gladstone lake a couple of years ago, now quite a lot are floating up to the surface.
I have been seeing the same thing norwoodman. Also new houses are still popping up that were purchased off the plan a while ago and the owners are now forced to either build or loose thier deposits. The way things are now loosing the deposit may be the better option.
Quite a few houses have gone up in Forrest Spring, the back of Kirkwood and Oasis over the last couple of months.
Edit: Quote fail.
Some of those larger estates around Kirkwood, Glen Eden and Boyne Island are only partly complete. I know Little Creek Estate in Kirkwood is only half complete, and Riverstone Rise at Boyne has barely completed the first couple of stages (out of some 2900 houses).
There is still civil work going on in some of these estates - a lot of empty lots (and empty streets for that matter) but not much new housing being built on them.
There is more downside yet as the projects to do with gas etc that were expected to by now be substantially letting staff go have not yet made the substantial layoffs as the timeline for completion of many projects has been pushed out. The report I read earlier in the year indicated serious layoffs starting in the second half of the year , however friends in the gas game advise me that projected completions etc were pushed out at least another 6 months.
Have a look at Tannum Sands as prices on the beach side have dropped substantially. I even get tempted myself as I sometimes think to move there if I have to stay in the area and without a doubt prices are down many tnes adn hundreds of thousands of dollars.
Have a look at Tannum Sands as prices on the beach side have dropped substantially. I even get tempted myself as I sometimes think to move there if I have to stay in the area and without a doubt prices are down many tnes adn hundreds of thousands of dollars.
