The future of Emerald Qld.
- Thread starter JT7
- Start date
Good
Yes Villas on Hillcrest. Well spotted !
It's well underway now.
Cheers
Yes Villas on Hillcrest. Well spotted !
It's well underway now.
Cheers
It's reasonable to assume that increased supply will meet demand however, this is a healthy sign. The Central Highlands has a huge projected increase of population over the coming decade. Therefore, development is a healthy indicator that the town is growing at a good pace. Would you develop in a town were the population is decreasing and business is leaving? No.
When these new products are released demand will soak up supply and the rental market will tighten. Land values are increasing quickly in this region and it is becoming increasingly expensive for developers to built which increases property prices.
Normal cycle in a smaller market.
I have been watching Moranba, Dysart, Emerald and Nebo recently to see how developments are trending. Many new of the plan sales going on in these towns right now.
Plenty of investors taking up the offering for new build units.
Anyway just Wanted to gauge peoples thoughts regarding these large scale developments and the impact it may have on demand and supply in these areas.
My thoughts are if investors now have a lower entry buy in option over a house, will this inadvertently reduce interest in existings housing sales?
On the other hand these developments need to remain appealing on a mass scale to investors so would appear leasing deals with mining companies need to be put in place almost as rental guarantees for investors.
I am currently weighing my options.
Any advise from those living in these towns would be appreciated.
Plenty of investors taking up the offering for new build units.
Anyway just Wanted to gauge peoples thoughts regarding these large scale developments and the impact it may have on demand and supply in these areas.
My thoughts are if investors now have a lower entry buy in option over a house, will this inadvertently reduce interest in existings housing sales?
On the other hand these developments need to remain appealing on a mass scale to investors so would appear leasing deals with mining companies need to be put in place almost as rental guarantees for investors.
I am currently weighing my options.
Any advise from those living in these towns would be appreciated.
Hi there
I've just gotten off the phone to a couple of property managers in Emerald and it seems that there is a lot of supply and not too much interest from tenants in picking up tenancy in the Mayfair Ridge area.
This is a concern to me as I have just received the contract to purchase a block of land in stage 10.
Does anyone else have any information first hand on what's happening there? I'm not sure whether this lull in tenancies is temporary or whether there will be a glut of new houses sitting there unrented.
Regards
Matt
I've just gotten off the phone to a couple of property managers in Emerald and it seems that there is a lot of supply and not too much interest from tenants in picking up tenancy in the Mayfair Ridge area.
This is a concern to me as I have just received the contract to purchase a block of land in stage 10.
Does anyone else have any information first hand on what's happening there? I'm not sure whether this lull in tenancies is temporary or whether there will be a glut of new houses sitting there unrented.
Regards
Matt
Yep, my new IP in stage 7 settled earlier this month and has been languishing on the market awaiting interest. The rental market was going crazy a month ago pushing standard 4-2-2s up around $850-$900/week, but our agent advised there have been some companies pulling their people out of tenancies in favour of the camps which has added to the glut in the market along with the other stage 7 houses now reaching completion.
I too have a contract for another in stage 10 and have started to worry, however their completion dates may see these houses in a very different market 4 months down the track as the various project demands come and go.
I too have a contract for another in stage 10 and have started to worry, however their completion dates may see these houses in a very different market 4 months down the track as the various project demands come and go.
My stage 10 lot just came back with a soil classification of E-D! Narrowly missed the H2-D that next door has. Be wary of Mayfair Ridge soil types - there have been some builders and buyers caught out by this who have had to have rectification works done. Even the council's entry road is undulating.
My builder is local and considered by some the best around town, so choosing to remain optimistic I'm pressing on with mine (with a suitably upgraded foundation design).
Has anyone experienced their own issues with such shifting soils?
My builder is local and considered by some the best around town, so choosing to remain optimistic I'm pressing on with mine (with a suitably upgraded foundation design).
Has anyone experienced their own issues with such shifting soils?
Hi Padawan
I Personally have not experienced this issue, a close friend of mine did but not in Emerald. E-D is an extremely reactive soil with deep (>3m) moisture changes. You can still get around it with appropriate footing design however it will definately cost you thousands. I would recommend you to get your builder to warranty it for at least 20 yrs.
By the way, you would know from my previous posts on this thread, I will be building a 4-2-2 house in Emerald QLD by the end of this year. COuld you please share your builder info.?
Which builder are you using on your Stage 7 & Stage 10?
Are they both 4 bedders?
What are the building cost?
Construction time?
general issues?
etc...
Please PM me if you do not wish to share it publicly.
Thanks
Was just in Emerald as have a prop there - older house close to town - thankfully didn't flood!
Emerald was very busy - had to wait 30mins for a coffee at a local coffee shop
Talked to quite a few agents - most agents are not very clever....anyway, seemed to be saying that yes, market has cooled, both for rental and sales but expect strong growth. Glut of props came on market, mostly sold to investors hence cooling. Does worry me a bit re potential capital growth as there is still a lot of land for a lot of new estates! Can't see huge cap growth with this happening - to late to be worrying about that for me, will have to ride the wave.
Trying to get tradies is DESPERATE - and our prop manager is usesless - any recommendations would be great.
Emerald was very busy - had to wait 30mins for a coffee at a local coffee shop
Talked to quite a few agents - most agents are not very clever....anyway, seemed to be saying that yes, market has cooled, both for rental and sales but expect strong growth. Glut of props came on market, mostly sold to investors hence cooling. Does worry me a bit re potential capital growth as there is still a lot of land for a lot of new estates! Can't see huge cap growth with this happening - to late to be worrying about that for me, will have to ride the wave.Trying to get tradies is DESPERATE - and our prop manager is usesless - any recommendations would be great.
Was just in Emerald as have a prop there - older house close to town - thankfully didn't flood!
Emerald was very busy - had to wait 30mins for a coffee at a local coffee shop
Trying to get tradies is DESPERATE - and our prop manager is usesless - any recommendations would be great.
Hi RachF,
Who are you with in relation to your property management?
Jack
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HI Every One,
Just wondering what the Emerald market is like at the moment. I have heard that it is cooling down. Would it be still worth investing there now?
Just wondering what the Emerald market is like at the moment. I have heard that it is cooling down. Would it be still worth investing there now?
Check out the latest issue of SPI, we spotlighted where Emerald is at! Currently on newsstands, but some interesting bits and pieces in it.
In the process of adding a heap of Aerial Photos of Emerald taken today to my Facebook page. Showing some of the new developments.
Cheers
Cheers
emerald and surrounding areas are looking promising again
What are your thoughts James.... How so....
Hi James, do you have any updates on said projects? The Emerald rental market is still very flat right now...several large projects rumoured to be starting around march
in the bowen basin region
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