i have been offered some House and land deals in gladstone at a substantial discount to market. I can't take them all up so if anyone is interested please send me a PM. They will be eligibile for the $10k government incentive as well. IMO these resource areas kill traditional resi real estate investments. If all I had ever done was buy/sell/invest in karratha I'd be a lot better off today!
Gladstone, QLD
- Thread starter Ausprop
- Start date
Hi Matt and Sanj - have replied to you both. Hobo the yield (and some Gladdy experts could confirm or deny this) is circa $600pw. The packages are $489k less $10k rebate, so 6.5%. It doesn't set the world on fire but you pick up $30-50k equity on completion I should think and the rent should cover most of the interest whilst rents can go and hopefully rise??
do you think this is sustainable or is it just a short term thing whilst the newcomers arrive? It's a pretty quick payback on the furniture
Yes, as long as vacancy rates stay below 1%, this will be the minimum return for fully furnished. Companies that are moving employees to Gladstone to work and signing up on corporate tenancies would rather have fully furnished and there is a significant shortage of them in the market.
Hi guys,
Hope someone can clear this up for me. Doing my due diligence and looking at the potential rental incomes...
I havent really seen comparable $600-800pw rents for a lot of the properties in Gladstone. Given most of them are unfurnished but even those are around the 450-500 mark. I'm looking at some of the suburbs like west gladstone. Am i looking at the wrong suburbs? Which suburbs are companies looking rent?
EDIT: Nvm....found those properties
just noticed that there is a decent divide between unit and house rental
Hope someone can clear this up for me. Doing my due diligence and looking at the potential rental incomes...
I havent really seen comparable $600-800pw rents for a lot of the properties in Gladstone. Given most of them are unfurnished but even those are around the 450-500 mark. I'm looking at some of the suburbs like west gladstone. Am i looking at the wrong suburbs? Which suburbs are companies looking rent?
EDIT: Nvm....found those properties
just noticed that there is a decent divide between unit and house rentalLNG companies are apparently pretty picky and go for newer properties. I have been advised that they prefer less than 5 years old.
The types of properties Ausprop is referring to are brand new 4x2 standalone houses in Gladstone, rather than older houses in West Gladstone.
I have seen older houses, which were nothing special, but fully furnished rent for $800-$900 and newish fully furnished 3 bed townhouses like this one renting for $800 per week. It was on the market about 18 months ago for around the $365k mark. http://www.realestate.com.au/property-house-qld-gladstone-403535065
This 4x2 furnished property has an asking price of $1300 per week, not sure if they will get it, but good on them if they do.
http://www.realestate.com.au/property-house-qld-gladstone-405369717
The types of properties Ausprop is referring to are brand new 4x2 standalone houses in Gladstone, rather than older houses in West Gladstone.
I have seen older houses, which were nothing special, but fully furnished rent for $800-$900 and newish fully furnished 3 bed townhouses like this one renting for $800 per week. It was on the market about 18 months ago for around the $365k mark. http://www.realestate.com.au/property-house-qld-gladstone-403535065
This 4x2 furnished property has an asking price of $1300 per week, not sure if they will get it, but good on them if they do.
http://www.realestate.com.au/property-house-qld-gladstone-405369717
I think the fully furnished option is more appropriate for the newer 4x2s...
we have an older style 3 bedder, unfurnished - probably more appealing to locals/ non LNG workers - rent went up significantly (+34%) at last 6 month renewal, but not sure if the demand is there for it to be fully furnished, and if that would justify a further big rent increase, but maybe that will change if things get tighter...
17 August Galdstone Observer
http://www.gladstoneobserver.com.au/story/2011/08/17/qgc-housing-strateg-alleviate-pressure/
John Fieldus, principle of real estate company Ray White Gladstone, said "...Gladstone had developed a 2-tiered housing market, where expensive rentals were taken up by big companies, while houses for "mum and dad" renters of around $400-500 per week were in desparately short supply."
we have an older style 3 bedder, unfurnished - probably more appealing to locals/ non LNG workers - rent went up significantly (+34%) at last 6 month renewal, but not sure if the demand is there for it to be fully furnished, and if that would justify a further big rent increase, but maybe that will change if things get tighter...
17 August Galdstone Observer
http://www.gladstoneobserver.com.au/story/2011/08/17/qgc-housing-strateg-alleviate-pressure/
John Fieldus, principle of real estate company Ray White Gladstone, said "...Gladstone had developed a 2-tiered housing market, where expensive rentals were taken up by big companies, while houses for "mum and dad" renters of around $400-500 per week were in desparately short supply."
hi all
do they want 3 br 2 bath or 4 br 2 bath what is the highest demand
aus are these house normal brick construct or whats the construct being used
489 whats the land component price
and are they inc gst or plus gst
and have you got an interest in the developer/seller
just to make sure I see the cards if you know what I mean
do they want 3 br 2 bath or 4 br 2 bath what is the highest demand
aus are these house normal brick construct or whats the construct being used
489 whats the land component price
and are they inc gst or plus gst
and have you got an interest in the developer/seller
just to make sure I see the cards if you know what I mean
yeh brick GR. Land around $245, balance house. Inc GST. No interest other than I know the guy and he does some work for us.
Building in Gladstone could work very well right now. Have just been there for 2 weeks and its def a hot market. Just be aware that the locals are all saying the builders are cutting corners on materials to keep per sqmtre rates reasonable (wages aren't atm).
Warning: gratuitous plug to follow.
Have you considered a solid (lick brick and tile hardwood frame) older home that has been renno'ed?
2nd Warning: Here it comes.
Check out my recent renno project just listed on re.com
(41 Edward Boyne Island) 30 yrs old, was orig tile job and kitchen, redid everything except the bathroom which had been done just before I bought it 7yrs ago.
...well this is caveat emptor...
...yes I am happy to answer questions and discuss the pros and cons. No I won't get offended. Yes I have been a member for some time but off the grid making babies for a while so been very quiet on the forum. Looking forward to being back.
Edit: sorry i stuffed the link u will haf to copypaste
Warning: gratuitous plug to follow.
Have you considered a solid (lick brick and tile hardwood frame) older home that has been renno'ed?
2nd Warning: Here it comes.
Check out my recent renno project just listed on re.com
(41 Edward Boyne Island) 30 yrs old, was orig tile job and kitchen, redid everything except the bathroom which had been done just before I bought it 7yrs ago.
...well this is caveat emptor...
...yes I am happy to answer questions and discuss the pros and cons. No I won't get offended. Yes I have been a member for some time but off the grid making babies for a while so been very quiet on the forum. Looking forward to being back.
Edit: sorry i stuffed the link u will haf to copypaste
