Rockhampton still looking pretty good.

[BoatBoy]

So you wouldn't buy a standard home in neat and tidy condition purely just to hold anymore.

We have already got few of these. For us we need that bit extra to get us goin'.

After having a taste at small development and buying at wholesale or less, we now feel this strategy serves us better, and it's one that we're looking to repeat. Not necesarily in Rocky though.

But there are some lovely homes that still appear good value, just not what were after, and I really think you need to be up there to have a good result thesedays.
BB

 

[see_change]

After having a taste at small development and buying at wholesale or less, we now feel this strategy serves us better, and it's one that we're looking to repeat. Not necesarily in Rocky though.


BB

We toyed with doing a development in rocky , but the wait for builders put us off. We bought in the 80's and have now sold the last one .

See Change

 

[BoatBoy]

We toyed with doing a development in rocky , but the wait for builders put us off. We bought in the 80's and have now sold the last one .

See Change

Geez seech, they would have been free houses back then.

BB

 

[BoatBoy]

Old Queenslander sells for $1.15 million, not on water , no water views.

Seem's it's still all good in Rocky.

Sure, not to flash if trying to get in now, but to those that did'nt sell......

http://www.themorningbulletin.com.a...localnews&thesubsection=&thesecondsubsection=

We were alway's amazed that the Locals hadn't cottoned on to the gold that was in their own backyard.

Tommorrow I/we hope to sign a contact on another block on seperate titles for a couple more small lot house's.

Maybe trade in some of our 12 mth old stock and hang on to these.

Fingers crossed.

BB

 

[YLC]

We have already got few of these. For us we need that bit extra to get us goin'.

After having a taste at small development and buying at wholesale or less, we now feel this strategy serves us better, and it's one that we're looking to repeat. Not necesarily in Rocky though.

But there are some lovely homes that still appear good value, just not what were after, and I really think you need to be up there to have a good result thesedays.
BB

I will be in Rocky next month. 6 months later, do you think there is still good value? Which areas should I look in?

Cheers

 

[YLC]

3 level walk up unit site that close to the CBD in Townsville???

Going on the current feeding frenzy for stuff up there I would have thought it not bad, and the fact that it's now under contract would probably prove my point.

We personally will stick with our Rocky stuff seeing as the returns over the last 10 year's have been better than Townsville and most of Cairn's , and having got in on a flock at half that price help's in our decision of course.

BB

If you have to buy today, will you still buy in Rocky instead of Townsville and Cairns?

Cheers

 

[BoatBoy]

I will be in Rocky next month. 6 months later, do you think there is still good value? Which areas should I look in?

Cheers

Depend's what you want, and I would advise that your own research is essentual.

Compared to other part's of Oz it look's reasonable still.

To a lot of local's, and us to a degree, the prices seem unsustainable, like most mining areas, but with no let up in the coal sector for a while yet it may still have value.

Good luck

BB

 

[BoatBoy]

If you have to buy today, will you still buy in Rocky instead of Townsville and Cairns?

Cheers

Like I said above, I have a tough time thinking that the current prices are sustainable, but saying that we want to buy more, but we also don't want to get caught holding the bag if thing's go a bit pear shaped.

We feel safe[ish] with what we have as they owe us bugger all compared to val and return on $$$.

If we could still buy and get 8%+ we would probably jump in.

We would feel less safe buying for $300k getting $300/week rent.

Out of the above 3, you'll have to do the number's on what work's for you, we can't get into anything easily at the moment unless it easily pay's for itself, which leaves all 3 out for us.

We have to change our strategy and get more cashflow.

BB

 

[YLC]

Like I said above, I have a tough time thinking that the current prices are sustainable, but saying that we want to buy more, but we also don't want to get caught holding the bag if thing's go a bit pear shaped.

We feel safe[ish] with what we have as they owe us bugger all compared to val and return on $$$.

If we could still buy and get 8%+ we would probably jump in.

We would feel less safe buying for $300k getting $300/week rent.

Out of the above 3, you'll have to do the number's on what work's for you, we can't get into anything easily at the moment unless it easily pay's for itself, which leaves all 3 out for us.



We have to change our strategy and get more cashflow.

BB

I was looking at the above 3 markets and comparing them. They all had good growth in the past 2-3 years, not so much Cairns. And you may be right that it's not sustainable but then if you look at Mackay, I am not so sure.

If I can get something with good growth and at least 5% yield, I wouldn't mind.

Melbourne is just crazy since the start of the year. Not enough good stock and too many buyers for the same thing. The yield is so low that it doesn't make sense unless you are earning six figures income and want to pay less tax.

 

[BoatBoy]

House this for a bit of REA hype just sent down the line to me.

I'd reckon it's got merit though.

Following are some very interesting newspaper articles on the current property in Rockhampton and Central Queensland. When you compare Mackay's median house price of $380,000 with Rocky's of $260,000 we can see the next 18 months rapid growth of around 20-30% conservatively. Now is the time to buy into the last affordable regional centre in the booming mining belt of north Queensland. The last article about a new super mine in Clermont exactly half way between Rocky and Mackay, is to illustrate where all the mines are and their relationship to Rocky and Mackay. Remember that these miners will live in Mackay and Rocky and commute out to the mines on a five days on five days off basis. Mackay grew at a rate of 40% for two years in a row and the third year did 19%. Rockhampton is only just one year into this similar growth cycle.

If I could figure out how to put all the clipping's on as well I would, but it is a strange file type.

I could fwd the email if wanted.

BB