Rockhampton, QLD Which Suburb
- Thread starter cnotoham
- Start date
What does your research tell you?
I've got a house in Gracemere. Performed well for me never been vacant longer than a week and rents continually increasing. Purchsed in 2004 for 180 and $160 rent, now worth 320 and $360 rent.
I think Rockhampton is a good place to invest, and have recently purchased in Rockhampton City itself.
As you are probably aware, Rockhampton is subject to flow on from Gladstone in terms of rent and future growth, but the economy is broader based than Gladstone, so it has more stability. Rocky also has good access to the mines with FIFO and DIDO workers based there, so consider somewhere with good access to the airport and the southern exit. My advice is to have a look at the flood map, as areas like Depot Hill and some parts of Allenstown do flood. Having said that, I believe Allenstown and surrounds is a good area to look at due to proximity to the hospital, city, airport etc and council plans for development. Also have a good look at the council zoning map.
In terms of the suburb itself, it really depends on how much you want to invest, and the sort of property you want to invest in. I prefer to invest in something I know I can add value to, rather than hope for growth, so my strategy involved looking for something with renovation, subdivision or development potential. Preferably all three! Having said that, getting tradespeople at a reasonable rate in Rockhampton is not an easy task as they are in high demand. In terms of where it is in the property clock, I would say that each suburb is different. Gracemere, for example, has been bubbling for a while. In terms of capital growth, it's hard to tell exactly what is happening from magazine data due to the time delay, but I like to use stock on the market, number of sales, days on the market, supply/demand data and rental data trends to give an indication of potential growth. Also have a look at price differential between neighbouring suburbs for an indicator of what is due for growth. John Lindeman has written a detailed analysis of Rockhampton's historical and potential future growth, which I highly recommend.
Good luck!
Jennifer
NQ Buyer's Agent
www.facebook.com/NQBuyersAgent
As you are probably aware, Rockhampton is subject to flow on from Gladstone in terms of rent and future growth, but the economy is broader based than Gladstone, so it has more stability. Rocky also has good access to the mines with FIFO and DIDO workers based there, so consider somewhere with good access to the airport and the southern exit. My advice is to have a look at the flood map, as areas like Depot Hill and some parts of Allenstown do flood. Having said that, I believe Allenstown and surrounds is a good area to look at due to proximity to the hospital, city, airport etc and council plans for development. Also have a good look at the council zoning map.
In terms of the suburb itself, it really depends on how much you want to invest, and the sort of property you want to invest in. I prefer to invest in something I know I can add value to, rather than hope for growth, so my strategy involved looking for something with renovation, subdivision or development potential. Preferably all three! Having said that, getting tradespeople at a reasonable rate in Rockhampton is not an easy task as they are in high demand. In terms of where it is in the property clock, I would say that each suburb is different. Gracemere, for example, has been bubbling for a while. In terms of capital growth, it's hard to tell exactly what is happening from magazine data due to the time delay, but I like to use stock on the market, number of sales, days on the market, supply/demand data and rental data trends to give an indication of potential growth. Also have a look at price differential between neighbouring suburbs for an indicator of what is due for growth. John Lindeman has written a detailed analysis of Rockhampton's historical and potential future growth, which I highly recommend.
Good luck!
Jennifer
NQ Buyer's Agent
www.facebook.com/NQBuyersAgent
Even though they are only a few kilometres apart, the suburbs across Rockhampton are very different in terms of housing prices, type and quality compared to say Gladstone where there doesn't seem to be much variation within many areas.
Suburbs like Allenstown and Berserker are littered with older Queenslanders, there are some grand old houses in The Range, and some of the growth suburbs/satellite towns like Norman Gardens and Gracemere are dominated by modern houses.
On a yields perspective, the suburbs closest to the centre of Rocky appear to have the highest yields, not too hard to find something higher than 7% at the moment. Due diligence definitely matters on the flood side of things... everyone knows Depot Hill floods, but there are also a few streets in Berserker, Park Avenue and Koongal that flood as well.
The rents in Rocky have been creeping up for a while, wonder how long it will be until it filters through into significant capital growth.
Major infrastructure going at the moment is generally on the south side: the Yeppen North bridge (Bruce Highway) duplication, Gracemere industrial estate and the Rocky Hospital expansions are the main ones going on at the moment I can think of.
Suburbs like Allenstown and Berserker are littered with older Queenslanders, there are some grand old houses in The Range, and some of the growth suburbs/satellite towns like Norman Gardens and Gracemere are dominated by modern houses.
On a yields perspective, the suburbs closest to the centre of Rocky appear to have the highest yields, not too hard to find something higher than 7% at the moment. Due diligence definitely matters on the flood side of things... everyone knows Depot Hill floods, but there are also a few streets in Berserker, Park Avenue and Koongal that flood as well.
The rents in Rocky have been creeping up for a while, wonder how long it will be until it filters through into significant capital growth.
Major infrastructure going at the moment is generally on the south side: the Yeppen North bridge (Bruce Highway) duplication, Gracemere industrial estate and the Rocky Hospital expansions are the main ones going on at the moment I can think of.
Yes check out the flood maps. I posted some links earlier this year to my FB page with a heap of aerial photos I took during the floods.
Trying to show that the vast majority of Rockhampton is flood free. In terms of flood affected homes it is a very small percentage indeed.
The general perception is that "Rocky" floods. Given the town has been flooding since settlement, anything reasonably new is well out of the flood zone.
I might be biased, but with my travels around CQ, Rocky and Yeppoon and Gracemere seem sot be "safe bets". They are not subject to the volatility that seems to exist in a lot of the resource-based towns.
Gracemere now seems very popular given its proximity to Gladstone and the mines for the DIDO market and it is cheap to get into a brand new home.
Trying to show that the vast majority of Rockhampton is flood free. In terms of flood affected homes it is a very small percentage indeed.
The general perception is that "Rocky" floods. Given the town has been flooding since settlement, anything reasonably new is well out of the flood zone.
I might be biased, but with my travels around CQ, Rocky and Yeppoon and Gracemere seem sot be "safe bets". They are not subject to the volatility that seems to exist in a lot of the resource-based towns.
Gracemere now seems very popular given its proximity to Gladstone and the mines for the DIDO market and it is cheap to get into a brand new home.
also, be aware of insurance costs, ive had quotes ranging from $8k-$12k for a $90k property in a flood zone for flood cover, ouchy!
LOL, less than $2k is the norm on properties at double the value in flood areas.
Who gave you those quotes and who in their right mind would accept them?
I've got two in Rockhampton, one in Berserker and one in Park Avenue. Definitely check out the flood maps and buy well out of the flood zone - luckily as someone mentioned, most of Rocky is not in a flood zone but do your homework. The council has flood maps on its website:
http://www.rockhamptonregion.qld.gov.au/Our_Region/Disaster_Management/Floods_and_Flood_Maps
http://www.rockhamptonregion.qld.gov.au/Our_Region/Disaster_Management/Floods_and_Flood_Maps
Been researching and talking to a few locals on the ground in Rocky. The boundary between what gets flooded and what doesn't is a little iffy/not completely clear cut in a couple of suburbs of Rocky. There are a lot of properties around Berserker and Park Avenue that are technically in the flood zone and did get wet in the last couple of floods, but the houses themselves have not been flooded since they are on stumps/stilts. Insurance is a bit hit and miss in these areas and varies significantly between insurers.
Getting close to taking ownership of a not so flash but otherwise solid old Queenslander in the northern part of Berserker not far from Stockland and North Side Plaza... about time I stopped talking and actually got going in investing.
Hi soccer,
Have you looked at the feasibility of developing in Rockhampton? I was looking into doing a small development last year and couldn't see how any profit could be made. The reason being that the build costs are as high as Gladstone but the selling prices are much lower. The build costs will drop as Gladstone cools down so that developments can be done with sufficient profit however this could take some time to happen. Personally I don't like the concept of waiting for markets and conditions to change.
I'd be happy to be proven otherwise on my analysis.
No doubt Rockhampton has proven to be a good place for capital growth.
Congratulations!
just wondering if people could give me their opinions
im looking at a few in berserker
near pricness/berserker st areas
my research shows that 3bdrs on 1000sqm blocks sell for between 120-160k
after renovations it could be worth anywhere between 180-220k
obviously being in a flood affected areas,
in terms of future growth potential I am confident it will do well
the concerns I have is flood prone
im looking at a few in berserker
near pricness/berserker st areas
my research shows that 3bdrs on 1000sqm blocks sell for between 120-160k
after renovations it could be worth anywhere between 180-220k
obviously being in a flood affected areas,
in terms of future growth potential I am confident it will do well
the concerns I have is flood prone
Some of those properties have an interesting mouldy sort of smell, even the renovated ones. The houses don't tend to get flooded, but the properties certainly do. I tried to get building insurance quotes for a few properties in that part of Berserker and most either refused or gave expensive numbers. There are some properties in the area that have been on the market for months... a couple I have watched over several months have dropped from around $250k right down to $190k! Yields are hard to beat though.
I'd stay north of Charles and Mason Streets to avoid insurance and reselling issues, but that's just me. Even outside the flood zones there's insurance issues (in particular with the insurers who have outright banned insuring postcodes 4700 and 4701 even though 90% of Rocky doesn't flood...), but not quite as bad. Also, watch out for properties where illegal additions/alterations have been made under the Queenslanders, I've seen quite a few of those around in Rocky.
ahh thanks norwoodman
what would you say about this one
http://www.realestate.com.au/property-house-qld-berserker-111806447
60cm above block in the 2011 floods, original kitchen, was thinking about repainting and new kitchen and rent out at 290pw, as the cheapest 3bdr seems to be 300 pw
http://www.realestate.com.au/property-house-qld-west+rockhampton-113993687
and this one, flood free apparentyl
what would you say about this one
http://www.realestate.com.au/property-house-qld-berserker-111806447
60cm above block in the 2011 floods, original kitchen, was thinking about repainting and new kitchen and rent out at 290pw, as the cheapest 3bdr seems to be 300 pw
http://www.realestate.com.au/property-house-qld-west+rockhampton-113993687
and this one, flood free apparentyl
