Gladstone
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Which Gladstone?
Gladstone SA is just full of positively geared houses and new infrastructure going in.
Gladstone SA is just full of positively geared houses and new infrastructure going in.
I think it's the QLD Gladstone....
If it is, I tell you what, that place freaks me out...it's so industrial as you approach, the whole town/city feels like a big industrial centre to me...
If it is, I tell you what, that place freaks me out...it's so industrial as you approach, the whole town/city feels like a big industrial centre to me...
Sounds like Whyalla. The main entrance in from the north passes the BHP (or whatever its called now) factory before you get to the town itself. And that really isn't a pretty sight.
Yep i was meaning gladstone qld, and yep shes an ugly town on the approach lol... I called in there and visited some mates a few months ago and didnt think much of it as a place to live but there seems to be a lot of industry booked... And then i came across an article in Dec " your investment property " mag. Got me thinking. Cheers.
I use to visit Gladstone ( and Mackay) as gateways to the mining industry 03-05 back then I thought there was opportunity. Especially due to housing shortages in mining towns within 2hrs drive - many were forced to commute.
Yep it is ugly BUT that also means it has alternative industry so not just dependant on mines staying open, there is port facilities, farming, some tourism ( not as much as Mackay) and a genuine lack of accomodation ( well there was then). Hence buying there all your eggs are not in the one basket.
However as you know when they write about it in API usually the moment has moved so it maybe better to look at what has moved the Gladstone market and looking at other areas to see if you can get in on the ground floor.
Hope this helps
Jane
Yep it is ugly BUT that also means it has alternative industry so not just dependant on mines staying open, there is port facilities, farming, some tourism ( not as much as Mackay) and a genuine lack of accomodation ( well there was then). Hence buying there all your eggs are not in the one basket.
However as you know when they write about it in API usually the moment has moved so it maybe better to look at what has moved the Gladstone market and looking at other areas to see if you can get in on the ground floor.
Hope this helps
Jane
Just be careful not to assume that articles you see written in either API or YIP are always completely "independently" written.
Both the articles run in these magazines have featured quotes and info from people who have a vested interest in the promotion of the region.
I'm not suggesting that they are not factual but they do require you to keep an open mind.
Gladstone does have a bright future with the ear marking of several huge projects but currently it has yet to take off again.
A lot of these new estates are targeting "down south" investors.
Gladstone definitely hasn't moved yet. There is an excess of stock on the market and a huge excess of rental stock available at the moment.
Generally yields of 5% have been common place but those figures have eased substantially over the past 3 months after Rio Tinto placed their rental stock back on the market. That was 350 houses instantly back on the rental market.
Blocks of land can still be picked up in several new estates for around the $170k mark and a new 4/2 could be built starting from around the $220k mark.
There will be a shortage of housing once construction reaches full steam but that is a while off yet and for now the yields don't stack up imho.
Cheers
Rooster
Hence me saying "All I know is..."
Our old PPoR that is now an IP is in Emmadale.
12 months ago we were getting $350 rent and we got a valuation for CGT reasons done. It came in at $365,000.
12 months later, we had to put the rent down to $330 to even get a tenant in, and the bank has valued it at $325,000.
I know the CGT valuation and the banks use different methods for valuations, but it still looks bad to me.
Can't wait for the town to pick up again...
12 months ago we were getting $350 rent and we got a valuation for CGT reasons done. It came in at $365,000.
12 months later, we had to put the rent down to $330 to even get a tenant in, and the bank has valued it at $325,000.
I know the CGT valuation and the banks use different methods for valuations, but it still looks bad to me.
Can't wait for the town to pick up again...
There are a gargantuan number of projects slated for Gladstone, but the vast majority have still not been formally approved by their various proponents. However, if even 10% of them get up, then hold on to your hats!
I work in the oil and gas sector and I'd expect that at least one and probably two of the CSG to LNG (Coal Seam Gas to Liquified Natural Gas) projects gets up at about $5-10 billion a pop. And LNG is just one of the industries poised to fire in the Gladstone area.
So, if you are a risk-taker, you might want to jump in now. The local REAs are saying that sales and enquiries are through the roof, starting about the same time as those articles in the mags. Evidently there are buyer's agents from Syd/Mel very active in the city. But, there are still a lot of properties for sale, and there are still an awful lot of IPs without a tenant, so be careful.
Alternatively wait and watch for the final investment decisions and then move quickly.
I work in the oil and gas sector and I'd expect that at least one and probably two of the CSG to LNG (Coal Seam Gas to Liquified Natural Gas) projects gets up at about $5-10 billion a pop. And LNG is just one of the industries poised to fire in the Gladstone area.
So, if you are a risk-taker, you might want to jump in now. The local REAs are saying that sales and enquiries are through the roof, starting about the same time as those articles in the mags. Evidently there are buyer's agents from Syd/Mel very active in the city. But, there are still a lot of properties for sale, and there are still an awful lot of IPs without a tenant, so be careful.
Alternatively wait and watch for the final investment decisions and then move quickly.
I grew up in Gladdy and last visited in summer of 07/08 and believe me it is a LOT nicer to look at now then it was 20 years ago, and a hell of a lot cleaner. I can still remember some really nice suburbs though with nice houses and gardens.
Giving this thread a bump. What's happening on the ground in Gladstone? Still seeing plenty of properties for sale and vacant despite the big projects slated to happen.
My PM in Gladstone has passed on that things are starting to move again with rentals.
There is still a glut of rentals, courtesy of Rio Tinto, but apparently there has been an increase in enquiries and lettings.
All my places are rented up there at the moment but are still yet to get back to what they were returning a year ago.
The builder i'm building with in Gladstone has also said that since the new year they have had an increase in contract sign ups.
Hope that helps.
Rooster
There is still a glut of rentals, courtesy of Rio Tinto, but apparently there has been an increase in enquiries and lettings.
All my places are rented up there at the moment but are still yet to get back to what they were returning a year ago.
The builder i'm building with in Gladstone has also said that since the new year they have had an increase in contract sign ups.
Hope that helps.
Rooster
How far off the highs are we with rent in Gladstone at the moment?
Best Estate in Gladstone
Hi
Does any one know anything about the different new estates in gladstone?
Which one is the best to buy/invest in and why?
How far developed they are?
So far i've found
Emmadale
Little creek
Stoneybrook
Vantage(cant even find the location exactly of this one)
Any feedback would be greatly appreciated.
Thanks
Hi
Does any one know anything about the different new estates in gladstone?
Which one is the best to buy/invest in and why?
How far developed they are?
So far i've found
Emmadale
Little creek
Stoneybrook
Vantage(cant even find the location exactly of this one)
Any feedback would be greatly appreciated.
Thanks
Two of my properties which came of leases during the very slow period last year, and immediately following Rio Tinto dumping 300 houses back on the rental market, are still 10 - 15% off where they were.
In saying that, i reduced the rents at lightning pace to meet the rental market in order to minimise any vacancies.
I had to explain my reasons to my relatively "green" property manager!
Cheers
Rooster
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In order of the cost of the blocks from cheapest to most expensive, they would be:
Vantage
Little Creek
Emmadale Gardens
All 3 are off Kirkwood road and within 3 minutes drive of each other. They do however differ greatly in block sizes.
Vantage estate's blocks are generally smaller than the other two and that is probably why they seem to be slightly cheaper. This is the newest subdivision of the 3. Blocks are around 650sqm.
Emmadale is the most developed estate so far and is up to about stage 5 i believe. This is where the majority of builders spec homes are located. Blocks from 600sqm to over the 1000 sqm.
Little Creek appears to be the best value for money with regard to block size and price. Flat, levelled blocks that are retained where needed and are set out in a picturesque entrance. Blocks start from 800sqm up.
No one estate is the best to invest in. Only you can decide what suits your budget, investment goals and strategy for getting to where it is you want to go.
Hope this helps.
Rooster