Gladstone
- Thread starter recruit2
- Start date
Surprised there no one is talking about Gladstone.
They've had the third LNG project approved and the first once has actually commenced.
Speaking to local RE agents over the last couple of weeks, just about all stock under $400K got snapped over 2 weekends (70% apparently of one agents on the first weekend after final approval)
Vacancy rates are down and rents are already on the rise!
Any thoughts.....
Cheers
Dave
They've had the third LNG project approved and the first once has actually commenced.
Speaking to local RE agents over the last couple of weeks, just about all stock under $400K got snapped over 2 weekends (70% apparently of one agents on the first weekend after final approval)
Vacancy rates are down and rents are already on the rise!
Any thoughts.....
Cheers
Dave
Yes, I was wondering why no one is posting about Gladstone. Rents are rising quite quickly, a property that I rent out for $340 pw is now worth $400 pw and this has all happened over a few weeks. There are a couple of new Real Estate Agencies that have opened and the Real Estate Agents all seem to have smiles on their faces!
We have a contract on our old PPoR in Gladstone... Should settle in 2 weeks.
We ended up getting $380,000 for it.
If we had waiting could we have gotten more... probably.
The guy who is buying it is from WA and he has something to do with the LNP.
Wanted to get in before it all started so as not to pay a premium later on when he moves over this side of the country in 6 months time.
We ended up getting $380,000 for it.
If we had waiting could we have gotten more... probably.
The guy who is buying it is from WA and he has something to do with the LNP.
Wanted to get in before it all started so as not to pay a premium later on when he moves over this side of the country in 6 months time.
I'll second that. One of my properties has gone up $60 a week as well.
All are due for significant increase and my property manager has only 10 properties on their rental roll in total.
Decent land has all but been exhausted until further releases in the New year and my builder has been inundated with building quotes and contracts.
Looking good
Cheers
Rooster
Having lived in the region most of my life Gladstone has had its fair share of boom and bust cycles over the past 40 years...
For sure its all rosey at present but that can change fairly quickly in Gladstone...
Dont put all your eggs into one basket is all I will stress...spread your diversity.
Gladstone has their fair amount of itinerant workers....once the LNG infrastructure projects are completed that may change the landscape.
I like Gladstone as a town, but ask the locals, it does have its downsides also....especially in the r/e game...
There is more on the horizon for Gladstone than just the LNG project so I wouldnt panick for the next five years or so.....
In my opinion if rates keep climbing it is going to affect most towns no matter what projects are on the drawing board.
For sure its all rosey at present but that can change fairly quickly in Gladstone...
Dont put all your eggs into one basket is all I will stress...spread your diversity.
Gladstone has their fair amount of itinerant workers....once the LNG infrastructure projects are completed that may change the landscape.
I like Gladstone as a town, but ask the locals, it does have its downsides also....especially in the r/e game...
There is more on the horizon for Gladstone than just the LNG project so I wouldnt panick for the next five years or so.....
In my opinion if rates keep climbing it is going to affect most towns no matter what projects are on the drawing board.
Good info CSC.
As you are familiar with the region, in your opinion would there be better upside in Rockhampton (100 km away) however a larger city?
My thinking is that with a larger population base one may hedge the Gladstone volatility and fluctuations that you mention. Still not too far located for the drive to Gladstone however Rocky may have a better critical mass to protect property values if things change in Gladstone. Also still accessible to the Bowen region.
Appreciate your thoughts??
As you are familiar with the region, in your opinion would there be better upside in Rockhampton (100 km away) however a larger city?
My thinking is that with a larger population base one may hedge the Gladstone volatility and fluctuations that you mention. Still not too far located for the drive to Gladstone however Rocky may have a better critical mass to protect property values if things change in Gladstone. Also still accessible to the Bowen region.
Appreciate your thoughts??
Rocky talk up here about the LNG spinoff is all hype in my opinion although i have posted previously that gracemere will be having a building boom next year with one builder alone has 150 plus spec homes ready to start...i believe investors from the south are the buyers....
For sure the Rocky region population base is far larger than Gladstone, Rocky is not on the coast and doesnt have a huge industrial base compared to Gladstone in my opinion....Industry in Rocky is diverse but compared to Gladstone it chases a different target market except for places like Hasting Deering which is in Rocky and handles mine work.
I very much doubt many will travel daily from rocky to Gladstone, still a few may but on teh whole that isnt really viable in time or cost......Its only an hrs drive but an hour in the country you can chew the fuel...
Rocky gets way more buisness from Blackwater, Emerald, middlemount area than it will ever get from Gladstone...mackay is in the same boat for teh Western Mines..
Gladstone in my opinion generates its own business locally as a norm.
They have some terrific engineering workshops and fabricators down there who have looked after the ship industry for many years.....
Cheers
Good insights
Grateful for those distinctions, csc2.
From what you've outlined it seems Gladstone can hold it's own business wise and obviously its industrial attractiveness is bolstered by the coast/port.
Still remembering your earlier comments though about a quickly turning R/E market there, I'm guessing it would be a very very long term hold to ride out fluctuations or shorter to medium term trading proposition.
Timing and milking rent and cap growth on the back of infrastrucutre and industrial projects, then (not being too greedy) getting out sometime before the peak. Not saying it's that easy, but that may also be a plan
Food for thought Thanks again
Grateful for those distinctions, csc2.
From what you've outlined it seems Gladstone can hold it's own business wise and obviously its industrial attractiveness is bolstered by the coast/port.
Still remembering your earlier comments though about a quickly turning R/E market there, I'm guessing it would be a very very long term hold to ride out fluctuations or shorter to medium term trading proposition.
Timing and milking rent and cap growth on the back of infrastrucutre and industrial projects, then (not being too greedy) getting out sometime before the peak. Not saying it's that easy, but that may also be a plan
Food for thought Thanks again
I treat the r/e market like share trading....difficult to actually pick the top with 100% confidence so all i do these days is make a decision to sell while the market has a little left...this makes selling more easier to offload properties and it still looks attractive to investors not really interested in the market of crunching numbers when the market actually slides...
im actually cashed up currently with just a set of units in Darwin, partnership in and building a home at the coast...
I think there will be some excellent bargains around over the next 12 mths in my area,,,so far nothing decent return wise due to cash investments rising...better right now for me to leave cash in the bank hastle free rather than spend weeks crunching numbers on something that may or may not be ok long ter,
If you looking up this way, sit and wait, they will come but get yourself in tight with a few agents as anything decent rarely makes it onto R/e.com.au they are snapped up beforehand and all you will see is "under contract: promoting the agents as a good place to flog a house when punters look at r/e.com.au
I still like Yeppoon as a great long term growth prospect.............
Cheers
im actually cashed up currently with just a set of units in Darwin, partnership in and building a home at the coast...
I think there will be some excellent bargains around over the next 12 mths in my area,,,so far nothing decent return wise due to cash investments rising...better right now for me to leave cash in the bank hastle free rather than spend weeks crunching numbers on something that may or may not be ok long ter,
If you looking up this way, sit and wait, they will come but get yourself in tight with a few agents as anything decent rarely makes it onto R/e.com.au they are snapped up beforehand and all you will see is "under contract: promoting the agents as a good place to flog a house when punters look at r/e.com.au
I still like Yeppoon as a great long term growth prospect.............
Cheers
Gladstone - tick tick BOOM!!
the time has come to jump back into this market, very short window to get in.
many have been waiting for signs of life, the rentals have dried up and the price started to move.
i have a few there already so won't be buying anymore but if i didn't i would be loading up and then perhaps sell a couple in 12 months and invest that elsewhere
the time has come to jump back into this market, very short window to get in.
many have been waiting for signs of life, the rentals have dried up and the price started to move.
i have a few there already so won't be buying anymore but if i didn't i would be loading up and then perhaps sell a couple in 12 months and invest that elsewhere
Gladstone is on the move
Some snippets of info here:
Courier Mail
http://www.couriermail.com.au/news/gladstone-prices-up-10pc-in-a-month/story-e6freomx-1225965707098
The Australian
http://www.theaustralian.com.au/nat...al-seam-gas-boom/story-fn59niix-1225965401983
Cheers
Rooster
Some snippets of info here:
Courier Mail
http://www.couriermail.com.au/news/gladstone-prices-up-10pc-in-a-month/story-e6freomx-1225965707098
The Australian
http://www.theaustralian.com.au/nat...al-seam-gas-boom/story-fn59niix-1225965401983
Cheers
Rooster
