Gladstone QLD - How is it Going????
- Thread starter charlieandkath
- Start date
even though I am quite pro risk, mining towns is something I would never buy in unless its at the very very start, which is hard enough as it is
For those that buy at the very top of the cycle, and expect, $2000 per week rent in a shack (yes exagerrating) I think its investment suicide,
especially those that follow the herd, and either buy the HL packages or when the market is flooded with them,
sure in the long run it may be a good investment, but if I knew there was going to be falling/stagnant prices for the next 1-5 years, id simply buy in west syd or brisbane at this point time, at least this way you are guanrateed some CG in the short term
For those that buy at the very top of the cycle, and expect, $2000 per week rent in a shack (yes exagerrating) I think its investment suicide,
especially those that follow the herd, and either buy the HL packages or when the market is flooded with them,
sure in the long run it may be a good investment, but if I knew there was going to be falling/stagnant prices for the next 1-5 years, id simply buy in west syd or brisbane at this point time, at least this way you are guanrateed some CG in the short term
We bought our IP in Toolooa about 6 years ago, sold end of last year, settled earlier this year.
Only made a small profit overall, wasn't really worth the hassles and risks in the end, but glad we got out when we did. Win some lose some, our other properties have done much better.
The huge amount of land released, the volume of H&L packages being sold and the workers accommodation sites just stopped the price rises and killed the rental increases. Now the population isn't there to support it, hence all the vacancies, rent drops and price falls.
Good luck to anyone who bought more recently, I (genuinely) hope you can survive the next period, no doubt in time conditions will stabilize and improve
Only made a small profit overall, wasn't really worth the hassles and risks in the end, but glad we got out when we did. Win some lose some, our other properties have done much better.
The huge amount of land released, the volume of H&L packages being sold and the workers accommodation sites just stopped the price rises and killed the rental increases. Now the population isn't there to support it, hence all the vacancies, rent drops and price falls.
Good luck to anyone who bought more recently, I (genuinely) hope you can survive the next period, no doubt in time conditions will stabilize and improve
-> http://somersoft.com/forums/showpost.php?p=1080739&postcount=825
Is it too late for Western Sydney? I was looking to buy two places out there 2 years ago now and build granny flats and I hear it's pretty hot now. I wish I had have done this rather than the Gladstone ones but live and learn.
Good one, I did similar. My tenants wanted the rent to drop from $660 to $560 or they would move out. My PM advised that it would probably be best to drop the rent to what they wanted. I have sad $600 or move out! See what happens now..
Be interesting wont it
Not as if they dont have plenty of choice
Gladstone.
Showing 1 - 20 of 687 Total Results
Still, I admire your bravado.
Be interesting wont it
Not as if they dont have plenty of choice
Gladstone.
Showing 1 - 20 of 687 Total Results
Still, I admire your bravado.
Is that huge modern 4x2x2 houses in town or does that number include mass produced houses out at calliope & mass produced units in town?
We'll see..
Is that huge modern 4x2x2 houses in town or does that number include mass produced houses out at calliope & mass produced units in town?
We'll see..
Jenko, I'd definitely tread lightly here. Last thing you want right now is to have a vacant property until the new year. In our street in New Auckland, there have been 3 properties that have been available for over 3 months now, and one has only now got a tenant after dropping asking rent from $560 a week to $420 a week.
Unless it's a prestigious or executive home, I don't think $600 a week is a realistic expectation in the current market.
Yeah I guess your right..
687 for rent
How accurate is this?
I did a search on some of Gladstone inner suburbs and there were only about 10 for rent
So what % of the vacancies are in estates? I'm guessing 80 - 90?
How accurate is this?
I did a search on some of Gladstone inner suburbs and there were only about 10 for rent
So what % of the vacancies are in estates? I'm guessing 80 - 90?
gladstone townhouse
just dropped my rent from $350 to $310 to get a tenant (& repainted & recarpeted as well!)
just dropped my rent from $350 to $310 to get a tenant (& repainted & recarpeted as well!)
This isn't really anything new. The US is starting to build up its own LNG industry as well, and so there have been a flood of new LNG projects entering the playing field. It has been expected for a while that the fourth LNG project in Gladstone wouldn't proceed.
Perhaps, but it certainly isn't going to help those that bought in and are currently experiencing a 12%(?) vacancy rate that will most probably continue increasing in the near future.
http://www.sqmresearch.com.au/graph_vacancy.php?postcode=4680&t=1
Are they still building all those new estates and spekkies up there or has that all finally stopped?
I might get another lot of photos early in the new year to put things into perspective. There are entire sections of new estates (around Kirkwood Road, and down in Boyne Island/Tannum Sands) that are nothing but brand new streets and empty lots with not a house under construction in sight.
