Personally, I don't care. I'll be buying another one or two in Rocky this year. You can get rental yields of over 7.5% there.
Sure, they are crap houses, but there are be people that are willing to live in them.
Rockhampton, QLD Which Suburb
- Thread starter cnotoham
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Personally, I don't care. I'll be buying another one or two in Rocky this year. You can get rental yields of over 7.5% there.
Sure, they are crap houses, but there are be people that are willing to live in them.
There's also decent houses in Rocky with yields of over 7.5%. They might be harder to find, but they do exist. There's some genuinely ugly houses around Rocky, but it's a matter of differentiating between which ones are just poor taste and which ones have actually been neglected - lots of repairs and maintenance required.
I do agree about the point relating to people willing to live in crap houses. I was at one open house (both for sale and rent) in Rocky last weekend that was severely damaged by termites and had a leaky roof, but still had lots of potential tenants turning up looking for somewhere cheap to rent.
The problem with the Depot Hill house I linked to earlier is that the house is forever going to be inundated with water from floods if it isn't raised and requiring frequent repair work.
Hi Jen,
The article predicts a large rental and capital gain increase within a year (so by June 2013). Given you're active in the market, has this occurred?
The article predicts a large rental and capital gain increase within a year (so by June 2013). Given you're active in the market, has this occurred?
Good question, it would be good to see Jen's (or other comments) about what has happened and compare this to a report that is 12 months old. Just have to ask, if the rental and CG increase has occurred over the past 12 months, can it keep going?
I bought just under 12 months ago. In that time, rents seem to have risen marginally and prices stayed the same.
That's only the feeling I get though, not based on actual numbers.
Spent the day up in rocky susing out a few low price properties mainly in and around the city.
This is one rocky property, it's out of the flood zone on a one-way street. The property needs a lot of work but nothing that a good bulldozer wouldn't fix!
does have lane access at the back of the property!!
This is one rocky property, it's out of the flood zone on a one-way street. The property needs a lot of work but nothing that a good bulldozer wouldn't fix!
does have lane access at the back of the property!!
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There is good stock in Rockhampton. Go up one more price bracket, and in slightly better areas like Frenchville and Norman Gardens and you wont have to deal with rubbish houses that need too much work/flood etc. The yields will still be found with a good purchase.
Im not 100% savvy with RRC regarding development, however there are some saying there are DA in place, so they must be slightly proactive.
pinkboy
Im not 100% savvy with RRC regarding development, however there are some saying there are DA in place, so they must be slightly proactive.
pinkboy
Most of the ones being advertised with DA approvals seem to be in Berserker within the North Rockhampton Residential Consolidation Area, with a few also around Allenstown and in the Frenchville Residential Area. RRC planning scheme for Rockhampton City has mention of preventing the approval of lot reconfigurations within the Q100 area, yet some of the ones being advertised with DAs seem to be within Q100... go figure.
The reconfiguration of a lot code says that minimum frontage within the above mentioned areas has to be at least 10m, at least 20m deep and with a minimum area of at least 300m2. The lots in the older parts of Rocky that haven't been divided tend to be anywhere from about 550m2 right up to over 1000m2. There's also quite a lot of houses sitting on two lots. I've noticed there's quite a few corner blocks and blocks over 800m2 with 20m frontage getting divided here and there. Google Maps doesn't show the full story because it's out of date.
I was talking to one of the council planners today and this is the flood map she was referring too. rocky flood map
Finally taken another property to contract after pulling out of another purchase in Rocky about a month ago.
Congratulations, where abouts in Rocky?
Middle part of Berserker, just east of Northside Plaza on the eastern side of Berserker Street.
Good one! I think I might go up again this weekend for another look around. Just can't seem to find those 7 % yields unless your looking in the flood zone which is not where I want to be. There are a few opportunities but I'm just not keen on carrying something that's not positively geared from day one. I'm enjoying the search ATM.
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Hi , long time watcher of this forum , but decided to post so I've now joined. Have to admit a bit of a novice in investing in real estate. Although I've had some success. First - ex Sydney , moved from Sydney in 1990 after deciding I wanted to live near the beach. Couldn't afford Sydney beach prices even back in 1990 so decided to buy and now own and live in a house right on the beach in Blacksmiths NSW.
1998 decided to purchase first investment property. Back then Newcastle was untapped, so many areas , so much potential. Decided on a unit in Cooks Hill. Kept it till 2012 where I sold it for 200k profit. Same year decided to venture north for a new investment property and hopefully retirement home on the coast.
Drove from Sunshine Coast through Gympie and then onto the coast. Went through Tin Can Bay ( too isolated) , Hervey bay ( what's there apart from whales?), Bargara ( nice but employment ?) Moore Park ( nothing there), Agnes Water/ 1770 ( no infrastructure), Tannum Sands ( very nice but over priced) Gladstone ..( polluted industrial swamp) and then Yeppoon...(Bingo)!!!
Now I have to admit my criteria was that I wanted a house that I could live in when retired. It had to be a warm climate with a ocean view. I had 400 k to invest. I also wanted in the next 10 years solid capital growth with good rental potential in an area that was expanding...Yeppoon ticked all my boxes.
Found the house, great view even without the planned upper level and had it rented out for $400 p/w
20 minutes from Rocky ( ok driving fast) Rocky and Yeppoon ticked all my boxes. Rocky with its diversified economy ( not just mining) with the Alpha development still hopefully a goer appeared to me reasonably priced compared
to Mackay s humidity, cyclones, sea wasps , exorbitant home prices and to the South - Gladstone's ground zero ...what a dump !
Thus I guess the purpose of my post is this and hopefully I'll get a few replies- .....If you believe Rocky has great investment potential thru ongoing rental increases and capital gain then why not Yeppoon? I based my investment at Cooee Bay on rental return, long term capital gain and location. I believe if say Alpha Mine took off many mining families would be moving to the CQ area. Most families I thought would want to live where its a a bit cooler, where they can swim on the coast. Thus why I chose Yeppoon over Rocky.
Anyway thanks for reading and look forward to your replies.....
1998 decided to purchase first investment property. Back then Newcastle was untapped, so many areas , so much potential. Decided on a unit in Cooks Hill. Kept it till 2012 where I sold it for 200k profit. Same year decided to venture north for a new investment property and hopefully retirement home on the coast.
Drove from Sunshine Coast through Gympie and then onto the coast. Went through Tin Can Bay ( too isolated) , Hervey bay ( what's there apart from whales?), Bargara ( nice but employment ?) Moore Park ( nothing there), Agnes Water/ 1770 ( no infrastructure), Tannum Sands ( very nice but over priced) Gladstone ..( polluted industrial swamp) and then Yeppoon...(Bingo)!!!
Now I have to admit my criteria was that I wanted a house that I could live in when retired. It had to be a warm climate with a ocean view. I had 400 k to invest. I also wanted in the next 10 years solid capital growth with good rental potential in an area that was expanding...Yeppoon ticked all my boxes.
Found the house, great view even without the planned upper level and had it rented out for $400 p/w
20 minutes from Rocky ( ok driving fast) Rocky and Yeppoon ticked all my boxes. Rocky with its diversified economy ( not just mining) with the Alpha development still hopefully a goer appeared to me reasonably priced compared
to Mackay s humidity, cyclones, sea wasps , exorbitant home prices and to the South - Gladstone's ground zero ...what a dump !
Thus I guess the purpose of my post is this and hopefully I'll get a few replies- .....If you believe Rocky has great investment potential thru ongoing rental increases and capital gain then why not Yeppoon? I based my investment at Cooee Bay on rental return, long term capital gain and location. I believe if say Alpha Mine took off many mining families would be moving to the CQ area. Most families I thought would want to live where its a a bit cooler, where they can swim on the coast. Thus why I chose Yeppoon over Rocky.
Anyway thanks for reading and look forward to your replies.....
That's not true, 9m is in the flood zone, and the lower third of Berserker is considered part of the Q100 flood area (a 10.1m flood, equivalent to the 1918 flood). Similar case for Park Avenue as well. Back in 2011, a fair bit of Berserker did go under water... but only a handful did early this year.
In the 2010/11 floods, the water generally didn't enter into many houses but it has affected the stumps on many of the high set houses - a lot of them have woodrot, significant settlement or have had to be restumped. A lot of them also have the offputting mouldy smell still lingering.
Lakes Creek Road is at an elevated position, so while it is closer to the river it is the areas immediately to the north that go under and not the road.
If you do decide to purchase within the Q100 areas, good luck with your insurance premiums.
Bunnyman. My thoughts exactly. I don't see why Yeppoon won't continue to grow in the longer term.
TMNT - yes that end of Berserker St will have water in it. Not up to the floorboards of a highset, but certainly through the yard and under the house.
TMNT - yes that end of Berserker St will have water in it. Not up to the floorboards of a highset, but certainly through the yard and under the house.
