Gladstone QLD - How is it Going????

[R377]

I checked 3 days ago, there was 1 @ $380 and 2 @ $400. All are now under contract.

These 3 don't look to be anything special and they are asking $450-$490 per week...

http://www.realestate.com.au/property-house-qld-gladstone-405315807

http://www.realestate.com.au/property-house-qld-gladstone-404955642

http://www.realestate.com.au/property-house-qld-gladstone-405315425

 

[Ausprop]

Just something for interest sake so this is written down with a date on it.

On realestate.com.au there are 930 properties for sale in Gladstone and 77 for rent. This is including the surrounding suburbs. The suburb rating is 37 out of 100.

There are 634 for sale in Gladstone and 51 for rent if you take the tick off surrounding suburbs.

Will be interesting how the above changes over time. I know that more land can be released etc creating more properties for sale and there would be a lot of variables in this but if someone had these figures for a year ago it would be interesting to see.

1 month later, tick off, 668 for sale, 51 for rent

the problem for cap value is that I cant see a major inhibitor to supply

 

[goondog]

I've just had two standard timber unit's in a duplex style go from $190 per each side to $350 per week each side all with in 18 months. bring it on i say !

 

[Lawry]

16 June:

My PM has today recommended a rent increase on my 3 bed older style IP in Gladstone by $40 from $350 to $390pw on 6 month lease, after it went from $320 to $350pw six months ago. Seems to be no shortage of tenants. Value of the property seems to be increasing at about the same rate, i.e. 20% pa -ish and accelerating. Have had the property for about 4 years, did well initially then dropped back a bit but has more than picked up in last 12 months. Expecting good rents and more growth thru 2012-2013 at least.

damn, so in the space of 1 month, before we can even implement the new rent starting mid August, (60 day notice) the rental market has gone up another $50/ $60pw...? wonder where it will be at lease renewal in 6 months?

 

[Bigtone]

1 month later, tick off, 668 for sale, 51 for rent

the problem for cap value is that I cant see a major inhibitor to supply

aus it will never have the inhibitor to supply like port H and other parts of WA however the ability to get new places built will so down new places coming on the market massively.

current wait to get a quote from a tradie on an IP maintenance issue is 30+ days.

wages available on the big projects mean the builders and other tradies are much better off working on those projects than on building new properties.

the thing about gladdy is the prices while they had a quick spurt in ovt/noc on back of the major announcements they have not really moved much at all since. had a friend buy a 3 bedroom house yesterday for $350k. There will be a big jump and soon. It is following the exact same pattern as last boom, its not too late to get in. Belbo get ur act together quickly.

 

[Rooster]

$650 week

New build completed last week and had a new tenant move in the next day at $650 a week.

Not bad for a total land and build cost of $430k.

The writing has been on the wall for the past year.


Rooster

 

[Belbo]

There will be a big jump and soon. It is following the exact same pattern as last boom, its not too late to get in. Belbo get ur act together quickly.

Oh God, oh God, oh God . . . . Just settled on my second place in PH 2 wks ago, not a brass razoo left in the kitty, rents are skyrocketing in Gladdy, and there's gonna be a big price jump up there soon? Where's my Head of Intelligence?!!!

 

[Bigtone]

There will be a big jump and soon. It is following the exact same pattern as last boom, its not too late to get in. Belbo get ur act together quickly.

Oh God, oh God, oh God . . . . Just settled on my second place in PH 2 wks ago, not a brass razoo left in the kitty, rents are skyrocketing in Gladdy, and there's gonna be a big price jump up there soon? Where's my Head of Intelligence?!!!

http://www.somersoft.com/forums/showthread.php?t=67454

perhaps u should have read this thread last year!

 

[Belbo]

There will be a big jump and soon. It is following the exact same pattern as last boom, its not too late to get in. Belbo get ur act together quickly.

http://www.somersoft.com/forums/showthread.php?t=67454

perhaps u should have read this thread last year!

That's not going to save HoI's job. Applicants!

 

[thamask]

Hi guys have not done a heap of research into gladstone but started to look up to the 380ish mark any hints on:

area's to avoid or area's to target?
Who is the best p/m in the area?
etc etc

All help appreciated

 

[Lawry]

jump

16 June

My PM has today recommended a rent increase on my 3 bed older style IP in Gladstone by $40 from $350 to $390pw on 6 month lease, after it went from $320 to $350pw six months ago. Seems to be no shortage of tenants. Value of the property seems to be increasing at about the same rate, i.e. 20% pa -ish and accelerating. Have had the property for about 4 years, did well initially then dropped back a bit but has more than picked up in last 12 months. Expecting good rents and more growth thru 2012-2013 at least.

20 July... so 1 month on, now our property is according to agent/ realestate.com.au worth $470 pw... up $80pw in a month or +$120 what is was 6 months ago..

 

[mattnz]

I really feel for the couple in this article who had their wedding plans cancelled by the hotel, but from a property investing point of view it is incredible....

It seems that all of the major hotels in Gladstone are now booked for the next 12 months, with extensions available to companies like Bechtel for a further 4 years!!

If any locals wanted to open a B&B, they should be able to get around $250 per night and be close to permanently booked... not a bad money spinner.

Short-term rentals could also be a great money maker if hotels are fully booked.

http://www.gladstoneobserver.com.au/story/2011/07/20/no-room-visitors-only-industry/#commentsList

An excerpt....

This was Shirley Maddin’s attitude after she discovered the hotel reservations she had made for her son’s wedding, booked two months in advance, had been cancelled only two weeks prior to his big day. When demanding a reason as to why her reservations were given the boot at the last minute, Mrs Maddin was told Bechtel had booked out the entire establishment for a one-year minimum at an offer the hotel couldn’t refuse.

“My son has multiple sclerosis and is confined to a wheelchair so (he and his fiancee) had to look long and hard to find a venue for their reception which had good wheelchair access,” she said. “They finally found the Club Hotel who could cater to all their needs, and we decided to book two rooms the night of the wedding so in the morning it would be no problem getting the relatives to the airport in time.”

It wasn’t until July 4, 12 days before the couple were due to be wed, that Mrs Maddin received a phone call telling her that her rooms were cancelled.

“I started ringing around immediately to find another room only to find that other hotels had been made the same offer,” she said.

“Thank goodness Gladstone is not trying to promote itself as a welcoming tourist stop as people would not be able to find any accommodation.”

Ian Witt, manager of the Club Hotel, said Bechtel had indeed booked out all of the rooms for a period of 12 months, with an option to continue their agreement for a further four years.

 

[thamask]

Thanks for all the replys lol...Im heading up tuesday for a couple of days, good luck finding accom very very difficult.

 

[Lawry]

Hi guys have not done a heap of research into gladstone but started to look up to the 380ish mark any hints on:

area's to avoid or area's to target?
Who is the best p/m in the area?
etc etc

All help appreciated

Hi thamask, for Rental Mgt of our IP, we've been happy with Dannielle Naylor, LJ Hooker Gladstone

 

[Rooster]

Thanks for all the replys lol...Im heading up tuesday for a couple of days, good luck finding accom very very difficult.

Either it's laziness or your clueless, but i'd say the reason you didn't get many replies to your first post was because people assumed you hadn't bothered to try the search function first.

How about this thread for starters:

http://www.somersoft.com/forums/showthread.php?p=757886#post757886

Rooster

 

[thamask]

Cheers lawry i will keep her in mind.

Rooster how did you guess you got me in one, All i was after was any updated information exactly like i got from lawry, i read your post and all the threads prior to asking so next time you want to be a ****** just keep it to yourself

 

[Rooster]

Cheers lawry i will keep her in mind.

Rooster how did you guess you got me in one, All i was after was any updated information exactly like i got from lawry, i read your post and all the threads prior to asking so next time you want to be a ****** just keep it to yourself

Rude and lazy?

Fair enough.

Rooster

 

[mattnz]

Looking at current listings, in the next couple of weeks, the bottom of the 3 bed standalone house market will be $500, the market is moving up rapidly.

 

[Belbo]

Any vendors in Gladdy willing to take an IOU?

 

[Ausprop]

sounds like it's going the way of karratha...all tourists cancelled, essential services too expensive to deliver. There will be 1 pizza shop selling $5 pizzas for $25.