"Southerners" buying up big in Rockhampton

[phm]

Hi there.

According to a mid week Morning Bulletin, the Southerners are buying up big in Rocky. Apparently they are buying three properties at a time, sight unseen, and all under the $100K mark. Property investing seminars are advising them to buy in Rockhampton.

If you are one of the "Southerners" thinking of buying, I'd suggest an investment in a topographical map as there are cheap areas that go under water. Also these properties sound like the ones that you can hand your neighbour a cup of sugar through your window and they can reach it from theres.

Due diligence as usual.

 

[Jean]

Rocky!

Heh, heh heh. Always was a one-horse town then someone shot the mayor (the locals should appreciate that one).

Who paid for those seminars?


Oops, I'd better apologise in case someone gets upset......

 

[see_change]

A one horse town that has some 50 thousand residents and flights from Virgin and Qantas.

See change

 

[Harris]

58,000 to be exact..

 

[Jacque]

Hmmm. Interesting....
I'd like to know which seminar is promoting Rocky as an area and what angle it's coming from. Does anybody actually know?

As for flood zones, well the simplest way is to ring up Rocky council and get them to send you a flood zoning map (Q100) in the post- all there in black and white for you at less than $10. Bargain! Don't wait until the contract cooling off period to discover you've bought a dud. As for buying sight unseen, it's a personal choice. I wouldn't, unless I'd been there or had a trustworthy acquaintance or buddy in the town.
Anyway, do yourself a favour and fly up north! It's beautiful this time of year- especially if you drive out to Yeppon and Emu Park.

 

[Jean]

ABS stats report Population 1859 to 2001:

"The largest decreases in population in Queensland were recorded in the mining areas of Duaringa (Shire) and Mount Isa (City), down 1,600 and 1,200 people respectively between 1996 and 2001. The City of Rockhampton recorded a decrease of 1,100 people, largely associated with an emerging trend for people to reside in the adjoining shire of Livingstone Shire."

The 1100 was possibly sea change drift to Yeppoon, Emu Park (Livingstone Shire).

Probably the uni helped Rocky but like some other provincial centres it's a bit hard to put a finger on what industry etc could be encouraged to go there. Some of these cities and towns cannot hold/attract young people through lack of opportunities.

Some other regional centres like Townsville have been strong - army. Gladstone has industry.

Hope this helps. I have no interests in any of these regional centres.

 

[kierank]

I would be interested to hear if the scaling back of the Aust Magnesium project just outside of Rocky has had any impact on property prices in Rocky. It was being predicted that prices might go down. Can any of the locals comment??

 

[Jean]

Kierank
Qld Dept Local Govt and Planning has recently released this:

"Projections prepared by the Department indicate that by
2006 the expected population of Rockhampton City will
be between 58,400 and 59,800 people. By 2021 this is
expected to change to between 56,000 and 60,700
people (Low and high series)."

Maybe those advisors encouraging 'Southern investors" there could put a case.

 

[see_change]

Jean , Kierank

I am not aware of any advisors / seminar promoters who have been promoting Rockhampton , however there are several members of this forum who have been investing up there, some starting up to six months ago .

I have my reasons which I will share ( once I've finished buying )

To the best of my knolwedge AMC has had minimal impact on Rockhampton. The project has been on the bubble for several years and was not employing that many people at the time it was put on hold. Talking to agents there where some units and a few upmarket houses which had leases broken as a result of the closure , but apparently they were good properties and quickly re let.

I see no sign of prices falling , in fact completely the opposite.

I had no problems renting my first purchases, with one being rented prior to settlement , and the next within two days of settlement , both at the upper end of expectations.

see change

 

[kierank]

Thanks Jean and Sea Change

 

[Jean]

Thanks See_Change,

I sincerely hope there is good news for Rocky. Central Queensland has been getting the rough end of the pineapple for years. Technology advances didn't help.

Australia needs stronger regionals.