Would like to know peoples thoughts in investing in Rocky at the moment. We bought a IP in 2003 and sold in 2006 with a nice gain and are looking to get back into that market for long term hold.
Things are pretty slow in Rocky atm, Teys aren't killing/exporting as much beef as they have previously done due to the high AUD$ against the USD$. Many of the OS workforce have dissipated (who were taking up a large proportion of the north side rentals). Mining hasn't really kicked in again yet.
We've still got one IP there and should mention that we haven't had any worries getting tenants over the past few years. I had two different lots of abbetoir workers living there for a while, but they moved out and a local family moved in.
Was searching around there late last year and made a few offers on possible dev't blocks, but ended up buying in Toowoomba instead.
There were some good bargains on offer in Rocky when I was looking, depends what you are chasing I suppose. One large investor was/is selling out a large chunk of his portfolio there according to a local REA, so possible bargains to be had there?