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Yet another setback.....lending limits imposed for the postcode.
Perhaps I was overreaching if I needed to borrow as much of purchase price as possible. Back to the drawing board.
Hey guys
i haven't read the whole thread, so apologies if already covered. If you're looking into Karratha, Hedland, Newman note there's quite a few initiatives by the department of housing to deliver more affordable housing to these areas.
They are re-furbishing homes and delivering new homes (built in Perth) to ease the pressure on rents. See articles below. The average price of these homes is 480k to 520k
http://www.dhw.wa.gov.au/news/Pages...-worker-housing-shortage-in-Port-Hedland.aspx
http://www.southhedlandnewliving.com.au/
We're just going through some due diligence work ourselves...
The chinese transportable houses ended up coming in more expensive than domestic solutions. t.
Any idea as to how much these cost? I'm curious.
can't really recall now... I think the house and lands were about $800k, so the house was probably around the $500k mark. It's the cost of freight, cyclonic fencing, cyclonic store rooms, quality air con units, heat pump hws, concrete etc that pushes the price up
Listening to Macca on the ABC Radio this morning (Sunday) and a local from Karratha stated that things have slowed down over there which was evident by the amount of Industrial Equipment (e.g. excavators and large mine vehicles) being held in the local hire companies yards that was once all out on projects/mines in the area.
He also mentioned the large amounts of properties that were for sales in town and how once it was impossible to find rentals or too expensive to buy a place but now it is so much easier to obtain accommodation in town. He stated he lived under a bridge just out of town when he arrived in the area but now that's not required.
Interesting how this will impact on those with IPs who paid top $$$$ thinking the bubble would not burst.
My short cul de sac in Karratha currently has 3 vacant houses. One has been vacant for 4 months.
The Fertiliser plant is well underway, with ground work almost completed.
Makes you wonder how they can build so cheap in comparison in places like Gladstone, Mackay, Townsville, Cairns, Darwin etc.It's the cost of freight, cyclonic fencing, cyclonic store rooms, quality air con units, heat pump hws, concrete etc that pushes the price up
Makes you wonder how they can build so cheap in comparison in places like Gladstone, Mackay, Townsville, Cairns, Darwin etc.
All these places have freight, cyclonic fencing, cyclonic store rooms, quality air con units, heat pump hws, concrete etc as well and manage to do it.
I think its greed by the builder and or acceptance of gouging by the mug paying the bill.