So whats happening in the large regionals??
- Thread starter TMNT
- Start date
and how have they gone/done?
i guess its hard without a valuation, the best you could do is compare recent sales
CBA AVM val has Bathurst property increase by $6k, looking at comparables which is more accurate I see this to be about right. Property was purchased Nov 2012 hasn't been vacant for a single day (Touch wood) including a rental increase... Which reminds me will be due soon which I'll likely increase again.
Bathurst was purchased for $265k and rents for $340p/w likely will go up to $350p/w
Wagga bit early to tell recent purchase, price $216,000 rent $315p/w tenanted first day after settlement.
Both have good long term growth drivers.
Toowoomba
Just about to settle on a two bedroom unit in Toowoomba. Block of 6, Ground Floor SLUG. Paid $176k will rent for $250/wk. Not yet advertized for rent and there a waiting list already. Coal Seam Gas, Airport Extension, really happy and expecting big things in the near future.
Cheers Bullfrog
Just about to settle on a two bedroom unit in Toowoomba. Block of 6, Ground Floor SLUG. Paid $176k will rent for $250/wk. Not yet advertized for rent and there a waiting list already. Coal Seam Gas, Airport Extension, really happy and expecting big things in the near future.
Cheers Bullfrog
I wouldn' t say that quite yet
This happened 12 months ago, where all the low end normally struggling to sell at about 120k all started to have high demand at auctions for as high as 140k
Fast fwd 6 months all the prices were back to normal and agents struggling to even get peoole registering to bid
Although they did sell most after auction immediately
Now all the lower price has gone o assume due to end of year
But I am hoping it will be the start of something
Hi all,
It's been a while since this thread. Just wondering if anyone has anything to add about our biggish Regionals? I've just been pre-approved for around $400,000 and looking for something with a decent yield - 7%??
Considering Tamworth or Armidale, or maybe Gunnedah (although I know it's not a biggish).
Any ideas would be greatly appreciated
Allgood
It's been a while since this thread. Just wondering if anyone has anything to add about our biggish Regionals? I've just been pre-approved for around $400,000 and looking for something with a decent yield - 7%??
Considering Tamworth or Armidale, or maybe Gunnedah (although I know it's not a biggish).
Any ideas would be greatly appreciated
Allgood
Hi all,
It's been a while since this thread. Just wondering if anyone has anything to add about our biggish Regionals? I've just been pre-approved for around $400,000 and looking for something with a decent yield - 7%??
Considering Tamworth or Armidale, or maybe Gunnedah (although I know it's not a biggish).
Any ideas would be greatly appreciated
Allgood
Should be able to get something in South Tamworth or the north part of Coledale returning above 7%. Not great areas but certainly not the worst.
Wow, looks like a good rental return. No Negative gearing there. I want to invest in a large regional too and need to find something thats neutral to positive cash flow because im on a lowish income.
Maybe I should buy over east and get a buyers agent to buy for me I dunno.
I have a lot of homework to do.
What is SLUG ? thanks
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I know it as Single Lock Up Garage (SLUG) and Double Lock Up Garage (DLUG)
Allgood, .... take a look at Goulburn. I currently live in the town and it's proximity to Canberra has seen growth steadily increase. I would say it's definitely moved 8%-10% in the past 12 months and rentals are in high demand. Shouldn't be a problem finding something with a 6%+ yield.Hi all,
It's been a while since this thread. Just wondering if anyone has anything to add about our biggish Regionals? I've just been pre-approved for around $400,000 and looking for something with a decent yield - 7%??
Considering Tamworth or Armidale, or maybe Gunnedah (although I know it's not a biggish).
Any ideas would be greatly appreciated
Allgood
There is a growing population of Canberrans moving into the area and cummute to Canberra each day. The property prices are a fraction of those in Canberra and it's only a 50min to 1 hour drive on the Hume Hwy. I've been told that between 2,000 to 3,000 commute each day.
The town has been promoted as a growth spot by many experts in the various property mags the past couple of years and has a large workforce in Wind Turbine industry and Some mining as well. Population around 23,000.
There are quite a few empty shops in the main street and Big W pulled out of a huge redevelopment about 8 months ago due to retail downturn, but the town always seems to be busy. It has a Woolies and Coles and Target etc plus the NSW Police Academy and the prison (don't let that put you off ... it's a great employer for the town and doesn't seem to cause any issues).
Bunnings built a 20 million trade store that opened 12 months ago and they tend to do there homework before developing in an area.
Splitter blocks are around but the builders/tradies seemed to have caught on that they can make good money by buying and developing them. We have just received a DA and CC to build another house behind ours ... the council was very slow processing our application, but they are very pro-development.
Campbelltown is only 1 hour 20 min drive away and Sydney Airport about 1 hour 30 min. Southern Highlands about 45 min to an hour. The high speed train from Sydney is back on the agenda again, but don't hold your breath as it's been discussed for about 20 years now and still nothing, but if it ever did come in then I would expect the town to take off.
Oh before I forget ... the water supply issue has been sorted and the town no longer has supply issues due to a pipeline development a few years ago.
Anyway ... just food for thought.
Mystery ...
I found this old thread
http://somersoft.com/forums/showthread.php?t=78864&highlight=wadonga
What do you guys think of Ballarat?
This one is renovated, and very affordable. I have no idea though about whether or not its located in a nice area or what the neighbours are like. It says walking distance to cbd. I guess that means walking distance to south Ballarat. Again i have absolutely no education or have done any research on Ballarat. I would have to research. Ballarat seems to be more affordable than Bunbury thats for sure.
http://www.realestate.com.au/property-house-vic-ballarat-115036271
http://somersoft.com/forums/showthread.php?t=78864&highlight=wadonga
What do you guys think of Ballarat?
This one is renovated, and very affordable. I have no idea though about whether or not its located in a nice area or what the neighbours are like. It says walking distance to cbd. I guess that means walking distance to south Ballarat. Again i have absolutely no education or have done any research on Ballarat. I would have to research. Ballarat seems to be more affordable than Bunbury thats for sure.
http://www.realestate.com.au/property-house-vic-ballarat-115036271
ah ok thanks
We also have one in Orange and have dropped our rent by $20pw to get a good tenant. However, a recent reval has shown a value increase of 17.9% from the last one just over 2 years ago.
Little confused but did not question the val.
