miles or chinchilla
- Thread starter tgan
- Start date
Do you know what they are mining around there?
If not then I suggest you go and do a lot of reading
Try and identify your own hot spots by doing your own research , not by watching TV shows and reading magazines
The herd was piling into these two locations at least two years ago probably more. I would now consider it high risk as prices have already risen
Good luck
If not then I suggest you go and do a lot of reading
Try and identify your own hot spots by doing your own research , not by watching TV shows and reading magazines
The herd was piling into these two locations at least two years ago probably more. I would now consider it high risk as prices have already risen
Good luck
.
Surat Basin - Gas
( QGC, Arrow, Origin )
.
http://mines.industry.qld.gov.au/assets/coal-pdf/new_csg_cc.pdf
.
Surat Basin - Gas
( QGC, Arrow, Origin )
.
http://mines.industry.qld.gov.au/assets/coal-pdf/new_csg_cc.pdf
.
Sounds like Teagan is doing research by asking those questions.
I would consider magazines and tv an okay research tool as long as they aren't your only form of reseach. The internet is great, you can give the local council, real estate agents and property managers a call as well.
I have invested in Chinchilla I have a 3 year old 4x2x2 house leased to a company returning a 6.9 % yield excluding a good deprecation. So I'm pretty happy. As Strongy mentioned it would of been great to get in two or so years ago. I think the major risk in Chinchilla is an oversupply of properties which is probably the major risk at most good investment regions. Gladstone has many vacant apartments here at the moment yet developers are still selling apartments with high demand and 9% yield? Be very carful of getting information from developers.
I would consider magazines and tv an okay research tool as long as they aren't your only form of reseach. The internet is great, you can give the local council, real estate agents and property managers a call as well.
I have invested in Chinchilla I have a 3 year old 4x2x2 house leased to a company returning a 6.9 % yield excluding a good deprecation. So I'm pretty happy. As Strongy mentioned it would of been great to get in two or so years ago. I think the major risk in Chinchilla is an oversupply of properties which is probably the major risk at most good investment regions. Gladstone has many vacant apartments here at the moment yet developers are still selling apartments with high demand and 9% yield? Be very carful of getting information from developers.
Yes I was probably a bit harsh but I'm sure there are plenty of people who have invested in these towns and there research consisted solely of what they were told by the salesman selling them then the property who also happens to be making a nice commission.
Just didn't want another added to that list
Jenko in regards to over supply of property I'm slowly coming to the conclusion that the more remote the mining town (Newman, headland) the better the investment as it is out of most developers comfort zone.
Maybe chinchilla is too close to Brisbane?
I note that you have done well out of Weipa where I imagine development would be minimal?
Just didn't want another added to that list
Jenko in regards to over supply of property I'm slowly coming to the conclusion that the more remote the mining town (Newman, headland) the better the investment as it is out of most developers comfort zone.
Maybe chinchilla is too close to Brisbane?
I note that you have done well out of Weipa where I imagine development would be minimal?
I think I agree with you Strongy. Maybe I'll invest in STO and ORG instead. Atleast I don't need $400K to get on board!
Yeah Strongy I think you have nailed it! I think the easily accessible towns that are getting publicity as a good investment are getting hammered by developers.
Weipa has no land available so should never have a oversupply. Touch wood!
Foxleemoo, I think I know where ORG is but any hints on STO?
Weipa has no land available so should never have a oversupply. Touch wood!
Foxleemoo, I think I know where ORG is but any hints on STO?
lol,, sorry mate I meant the stock market. They are ticker codes. STO is Santos ,, ORG = Origin..
How long ago did you buy in Weipa? I had a job interview there last year.. didn't quite get the site visit tho, would have been good to use it look around for investment opportunities.
How long ago did you buy in Weipa? I had a job interview there last year.. didn't quite get the site visit tho, would have been good to use it look around for investment opportunities.
hahaIt seems like the rental market is very strong in Chinchilla and Miles, But not sure about sales. This could be a good thing though,, if investors stay away, then rents might continue to go up.. hmm.. might make it hard when it comes time to sell.. but in 10-15 years who knows what will be happening...
Plenty of upside still for the region, just set up a google email alert for 'surat basin' and you'll get an idea, and watch this video:
http://www.suratbasinhomes.com.au/t...e-surat-basin-economist-brian-haratsis-video/
http://www.suratbasinhomes.com.au/t...e-surat-basin-economist-brian-haratsis-video/
Sounds good however I would like to see some actual figures. Like what is the forecasted population growth? How many new houses and units can the area sustain? Seems to be a lot of property development in the Surat Basin will be an oversupply like Gladstone at the moment. I'm pretty sure developers will keep supplying properties until people stop buying because the market is oversupplied.
Chinchilla has more land available for development, and more supply of new units. Miles has less land and less supply, and close to a lot of the future action. I bought an older house there 8 months ago for 350k, just had it valued this week, came in at 370k. DA is through and building 2 X 4br units at the rear of block shortly. Original house is rented for $850 pw. Have seen forecasts for populations growth but cant find the link now, maybe others do?
Miles
First time poster - but thought I'd add an observation only.
I've been investigating Miles as well - obviously being the highest yeilding location attracts a lot of attention.
In my research I found that there is a large development aka man camp (expected to be finished in June/July) that is currently subletting (catering for about 200 people) in McNulty St. It has a pool and many mod cons to appeal the miners staying there.
When I saw this it really put me off as I figure (maybe wrongly) that this will flood the rental market of this tiny town and drag prices down.
http://www.realestate.com.au/property-unit-qld-miles-409450031.
Besides this issue the current properties available are $495/week to $850/week. This is a mix of un/furnished properties. There was one renting out for $3500/week (dorm house with 5 rooms at $100/day/room).
There also is a number of estates selling off new houses which have higher rent expectations.
First time poster - but thought I'd add an observation only.
I've been investigating Miles as well - obviously being the highest yeilding location attracts a lot of attention.
In my research I found that there is a large development aka man camp (expected to be finished in June/July) that is currently subletting (catering for about 200 people) in McNulty St. It has a pool and many mod cons to appeal the miners staying there.
When I saw this it really put me off as I figure (maybe wrongly) that this will flood the rental market of this tiny town and drag prices down.
http://www.realestate.com.au/property-unit-qld-miles-409450031.
Besides this issue the current properties available are $495/week to $850/week. This is a mix of un/furnished properties. There was one renting out for $3500/week (dorm house with 5 rooms at $100/day/room).
There also is a number of estates selling off new houses which have higher rent expectations.