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The entry level still scares the hell out of me, close to $1M thats alot of eggs in one basket that is reliant on mining industry??
Hi Venno
Its your call, however in current climate when many investors are bailing, I would be asking why??
Cheers MTR
Havne't been follwoing too closely since I moved away from K-town about two years back but:
There isn't much/any new land being released in Karratha now, is there? Baynton West is pretty much finished and I think that's it for now. So supply exceeding demand may just be a temporary phenomenon.
Rents are definitely down...but I heard next year was likely to be better. Had a look on the Pilbara Dev Commision site to see if there was enough upcoming projects to justify this, but still not really sure where this is heading.
Personally, I wouldn't sell now....I think more likely to head up again than crash.
My Karratha IP in Nickol West is still rented out at $1950/week for a yield of 17.04% (before RE fees and other expenses) - long may it continue!
Ausprop
Do you think karratha has bottomed? From memory you have a few props in the pilbara?
I am not aware of all the drivers, but it has suffered a setback from the highs a couple of years ago?