Tamworth any potential

[parra1]

Been reading a bit about Tamworth of late. Appears to be going along quite nicely. Bit happening there in terms of infrastructure and just today the Mayor was putting his hand up for Immigration relocations. I saw a cheapie on the web with good rental yield.

West Tamworth looks good IMO :

Median price
$225,000

Quarterly growth
10.84%

12-month growth
12.50%

3-year growth
7.14%

5-year growth
18.42%

Average Annual Growth
3.23%

Weekly median advertised rent
$280 $245

Number of sales
103

Gross rental yield
6.47%

The place I saw was 250K renting for $320.... Am I missing something LOL

 

[jameso]

Give the local police station a phone call. They will let you know if it's worth buying in that area.

 

[bob shovel]

Give the local police station a phone call. They will let you know if it's worth buying in that area.

are you familiar with the area?

Use caution around west tamworth. it covers 2 serperate areas so to speak. The side closer to town you will find more expensive. the other side is notoriuosly the bad side of town.

I was looking at tamworth too myself and the yields look good and it is a nice town but not confident enough at the moment ill stick with elsewhere, but would be interested to know more about whats going on. i'd say theyll get the ripple of sydney though. Also armidale was on the radar but with online uni nowadays may change things up. pretty sure i heard an ad on the radio in WA for UNE online

To get more of an idea of what the tamworth area has been doing check growth and yields in south tam, north tam, east tam. plus westdale and calala.
Order of areas - east best, then north, then south, "good west" would sit with south. i think the yields would reflect that.

I lived out there a few years ago and not sure what is happening but the government is pushing for more people ot move regionally. so they may getting some infrastructure and cash thrown their way.

 

[jpcashflow]

Hi

Hi,

Population is no issue in Tamworth but even though the numbers look good just be aware of the following:

A couple of clients of mine who bought properties in Tamworth never had a issue in leasing the properties but the issue they constantly face is getting rent on time or actually receiving the rent at all.

 

[Brady]

New properties being constructed can often through out stats. I would be looking more specifically at actual properties that you're interested in, how they have performed.

 

[knightm]

Vacancy at 4% not my first choice.

 

[Truly Exotic]

you honestly got to be aware of the good and bad areas,

the bad areas a lot of investors go in looking at the figures and say WHOA

its higher for a reason, and if you are lucky, you will have no problems, if you are unlucky managing from afar will be a nightmare, depending on your expectations

 

[jkat]

In some parts of Tamworth the PMs won't manage your listing... best to be aware of those areas rather than buying a property and then not being able to get someone to manage it.

 

[bob shovel]

The moral of the story is look for the place with front door still on. Tamworth is a great city don't let it deter you. Just do your research!

 

[knightm]

The moral of the story is look for the place with front door still on. Tamworth is a great city don't let it deter you. Just do your research!

Agree its a great town nothing wrong with it, and no reason one can't make a profit their either. just be careful as per comments above.