Gladstone QLD - How is it Going????
- Thread starter charlieandkath
- Start date
Coming from someone who's bought property in Gladstone and Chinchilla in the last few years if I remember correctly? I think you've listened to the spruikers a little to much mate. Maybe if I say yes you WILL buy in Gladstone again!
I don't own any property in Gladstone. I've just been watching the market closely here the past 3 years (deciding not to buy due to many reasons being brought up NOW 3 years TOO LATE), and feel I have some more local insight compared to interstate members, and more insight into LNG operations and its operational employment figures than someone running an air conditioning business.
Like I said in my last post -
I'm not telling anyone BUY NOW - I won't be - just saying look further than what you read in the paper or hear from the property "experts" and spruikers because they don't look in depth and they are often wrong - they didn't see the crash coming did they? Gladstone could be closer to the bottom than you think.
I realise my first two posts in this forum have both mentioned positives for Gladstone but I thought it was due as no one seems to be mentioning any of them, it's all been negatives the past 6 months on here (and fair enough, the market hasn't performed). Rather than be a jerk and call me a spruiker you could leave it with a fair debate/discussion like edge81.
Yes your right I have listened to spruikers and bought in both of those places. I done my DD at the time and thought that everything added up. I bought well before the writing was on the wall. Unfortunately because of my inexperience only been in the game for 5 or so years. I took for granted that other people would do their own DD and not just listen to spruikers and continue to build for the next couple of years flooding the both towns with properties. I'm not totally disappointed with my choice of locations and properties. I know that a lot of people will get burnt in both of those areas buying mass produced H&L package most will learn the hard way and will never invest in those areas again. I'm pretty confident that building will slow and population growth will mend both markets overtime.
I didn't call you a spruiker mealy asked. You seem to have some very positive thoughts about Gladstone however avoided questions asked about it.
I don't think a spruiker is a bad thing I spruik on the forum about Weipa and Scarborough. I share my thoughts on both areas. They are my opinions though and people have to do their own DD and make their own decisions. I would like to add I do have IP's in both areas so my money is where my mouth is.
Im sorry if you took offense to the comment, I didn't mean to offend.
I didn't call you a spruiker mealy asked. You seem to have some very positive thoughts about Gladstone however avoided questions asked about it.
I don't think a spruiker is a bad thing I spruik on the forum about Weipa and Scarborough. I share my thoughts on both areas. They are my opinions though and people have to do their own DD and make their own decisions. I would like to add I do have IP's in both areas so my money is where my mouth is.
Im sorry if you took offense to the comment, I didn't mean to offend.
I have learnt a good lesson to what listening to "well known experts" may deliver. Gladstone was on top of the Hotspot list when I signed the contract in late 2012.
Since then, my IP has declined at $130,000 in value. I had it leased out on a $550/w yearly contract which is due to expire in a month's time. My Property Manager has advised me that the tenant is offering $410/w.
Since then, my IP has declined at $130,000 in value. I had it leased out on a $550/w yearly contract which is due to expire in a month's time. My Property Manager has advised me that the tenant is offering $410/w.
I have lived in gladstone for my whole life my father has lived in this town for 35 years. gladstone is not a mining town it is a process plant town. dont get confused about what is a mining town and what isnt a mining town.
i was in a position to purchase a property in gladstone in 2010 but after seeing so many boom and busts decided not to buy, i concluded this on the amount of land that developers had cleared and are are vacant blocks with not houses on them. people are being burnt here very hard with losing over 100k+ just to bail out of the town. vacancy rates are at 6.2% with more house still being flogged up and more units still being built. 6.2% + more houses still being built + alot of land sitting there waiting to be built on= massive disaster. i cant see any investors taking the risk here in buying now for along time to come. greed has caught alot of people with not many potential investment opportunities back in 2010 so gladstone was there place to go after so much spruking.
They are the facts.
sorry but if you have a house in gladstone be prepared to get hurt alot more
i was in a position to purchase a property in gladstone in 2010 but after seeing so many boom and busts decided not to buy, i concluded this on the amount of land that developers had cleared and are are vacant blocks with not houses on them. people are being burnt here very hard with losing over 100k+ just to bail out of the town. vacancy rates are at 6.2% with more house still being flogged up and more units still being built. 6.2% + more houses still being built + alot of land sitting there waiting to be built on= massive disaster. i cant see any investors taking the risk here in buying now for along time to come. greed has caught alot of people with not many potential investment opportunities back in 2010 so gladstone was there place to go after so much spruking.
They are the facts.
sorry but if you have a house in gladstone be prepared to get hurt alot more
It has been awhile since I have visited this post. Many of you helped me avoid a new development in Gladstone at the time. Thank you!! I would like to monitor what happens in Gladstone in the future and seek your advice as to the three most desirable/ livable suburbs of Gladstone or surroundings for me to look at overtime to explore the Rental/ price changes that occur.
Not sure how the rest of the gladstone investors are going but I'm tired of losing sleep wondering if i should hang on & ride out the storm or cut my losses? The problem is I don't even see selling my 25y/o inner city 2 bed furnished apartment as an option!
So interested in knowing if anyone has had any luck putting the property on the market recently & getting a sale? Gladstone observer article out today says market has stabilized to "normal" with av. days on market between 70 & 90 days, thats a far cry from the 150+ from other sites such as Home Price guide!
Every 3 months the hassle of trying to retain or seek new tenants is killing my cash flow & a massive stress I could do without! Very interested in knowing if anyone is lucky enough to be securing tenants on 6-12month leases?
Just read Chinese Industrial Production slowed to 6.9% & likely to bring down the GDP to around 7%, Iron Ore crashing to $82!.. The upside is the Aussie dollar is finally doing what it should & follow commodities lower! Really hoping this is "The more pain on the way" that Gladstone needs to hurry up & bottom out!
So interested in knowing if anyone has had any luck putting the property on the market recently & getting a sale? Gladstone observer article out today says market has stabilized to "normal" with av. days on market between 70 & 90 days, thats a far cry from the 150+ from other sites such as Home Price guide!
Every 3 months the hassle of trying to retain or seek new tenants is killing my cash flow & a massive stress I could do without! Very interested in knowing if anyone is lucky enough to be securing tenants on 6-12month leases?
Just read Chinese Industrial Production slowed to 6.9% & likely to bring down the GDP to around 7%, Iron Ore crashing to $82!.. The upside is the Aussie dollar is finally doing what it should & follow commodities lower! Really hoping this is "The more pain on the way" that Gladstone needs to hurry up & bottom out!
Stock on market from nov 13 to nov 14 has decreased 14.7%. Vacancy rates have dropped from 9% to 5.2%.
I have owned a property there for a number of years, prices go up and down. I think they have now bottomed out. I have just settled on my second property there and got a tenant virtually straight away.
I have owned a property there for a number of years, prices go up and down. I think they have now bottomed out. I have just settled on my second property there and got a tenant virtually straight away.
Yep, all indications I'm seeing and hearing from those still on the ground there is that things have settled down a fair bit now. Still a fair bit of excess land around on the market (or being held on to), but established housing on the improve.
Not expecting a boom any time soon, but there certainly look like some good buying prospects about for the counter-cyclical investor.
http://m.gladstoneobserver.com.au/news/bechtel-sheds-150-workers/2516307/
150 Bechtel workers given notice. Interesting times ahead.
150 Bechtel workers given notice. Interesting times ahead.
Hi, we have received an application for 12 months for a brand new tenant who works as a cryogenic lagger. Can the locals tell me please what job prospects he would have for the next twelve months. I understand that just because one refinery has gone to operational stage, the others are still being constructed. Any comments?
A cryogenic lagger installs insulation and cladding around the cryogenic lines of the gas plant, they are usually brought on site towards the end of the job as otherwise the cladding would be damaged by other work activities.
Depending on which site they are employed on they could be there anywhere from 6 months to 18 months, do you know who they were employed by?
Depending on which site they are employed on they could be there anywhere from 6 months to 18 months, do you know who they were employed by?
They must be at "lagging stage" as there are heaps of advertised for them.by the sounds around 12 months work.
I think if you had an application you should take whoever you can get!
There are for sale/lease signs in every street in town! I'm working with council and get around a bit! I heard there are a thousand properties foot sale/lease...but this is rumor town!
I think if you had an application you should take whoever you can get!
There are for sale/lease signs in every street in town! I'm working with council and get around a bit! I heard there are a thousand properties foot sale/lease...but this is rumor town!
Hey R377, what sort of rental vs price paid are you getting for your latest property there...? And what area?
If you don't mind sharing, I'm just interested to compare.
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James
Investment property leads - delivering consumers looking to purchase IP.
