Went through Wagga today returning from Adelade, anyone own property there? What's the market like?
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I have been looking at Dubbo for past month. I can get a decent 3 bedder for 250K mark, with yield of 6-7%. The vacancy rates hover around 1-2% mark.
What are your thoughts on that area?
I just posted this in another thread....knight or anyone keen to provide input?
http://somersoft.com/forums/showthread.php?p=1229208#post1229208
Originally Posted by rdbhalla View Post
I have been looking at Dubbo for past month. I can get a decent 3 bedder for 250K mark, with yield of 6-7%. The vacancy rates hover around 1-2% mark.
What are your thoughts on that area?
From what I hear there are parts of Dubbo that you definitelysteer clear of. Quite a lot of it, actually. You'd really have to make sure that you know the area you're buying into. Sorry, I've forgotten where the super-dodgy area is. They're trying to clean it up by selling it off.
I think Dubbo is still a gradual mover. Prices were really low about 3 years ago (of course) and it has gone up since then but still moving I believe. Put it this way - it has a long way to go.
Investar has the median LIST price of 3x2x2 in Bathurst at $326,500. Without more info hard to say much more than that. Send me a PM if you like.
FYI did a automated valuation today (AVM through CBA) find them to usually be a bit conservative. They can be used for lending purposes up to 80%.
$307,000.
Purchase price was $265,000 Nov 2012.
You saw the graph in the other thread?
8% for '12 and 7% for '13 1% for '14
So how you gonna use the 30k equity?
If you bought at end of '12 then you have outperformed the local market by a bit.
I believe slight UMV but don't we all
with rpdata, you can search based on owner name for a particular suburb and divide against total listing to get a percentage of HC
i think that prop you purchased is an absolute steal !!
a great buy indeed and would definitely reval 200+ these are the
buys that propel you forward .
port stephens and maitland council are expecting massive population growths
in the coming years . and are spending lots of $ to accommodate btw maitland city council in particular is very cashed up with the help of a 7% rate rise of 7 years ( ouch )
another great positive is the new maitland hospital located on metford rd metford. and massive extension to STOCKLAND green hills i strongly believe EAST MAITLAND and surrounds will be blue chip in less than 5 years and the places like raymond terrace wood berry tenambit metford stigma will drastically change