The future of Emerald Qld.
- Thread starter JT7
- Start date
Hi smy7484,
I first purchased in the Emerald market early 2010, and have recently increased my holding in Emerald by buying a new build.
In relation to whether new or old, I guess it depends on your strategy and how much you have to spend.
The new properties are more likely to attract the company tenants. There is more opportunity to fully furnish these types of properties also, although I'm sure there may be an opportunity to fully furnish older type properties now because the rental market is so extreme at the moment.
One of my investing buddies recently purchased an older style ex-housing commission type property in the old town area. His strategy is to have the option of perhaps putting a duplex on the land in the future. We purchased at the same time for approximately the same costs but slightly different strategies.
What ever way you decide to go I don't think you can't go to far wrong because of the fundamentals of both Emerald and the economy into the future.
Hope this helps mate.
Jack
Thanks Jack
I have done my reserch on regional qld, Emerald appears to be one of my three most desirable areas to invest.
Absolutely right, investment strategies, budget and investment goal should be the first step before even looking into a specific type of property.
Once I got that, my next step to move forward is
1. to contact some RE agents in the area and find out which part of the area is preferred, which property type is in higher demand etc.
2. Select one of the most suitable property based on the recommendation from RE agents and Realestate.com.au website.
3. Appoint local services to conduct building inspection, etc.
4. Proceed to buy
5. Comparing leasing manager and appoint one to lease it out.
Any comment on above? anyone?
JT7, would like to know how you first started to buy your first regional qld investment property.
Thanks.
JT7, would like to know how you first started to buy your first regional qld investment property.
Thanks.
Well....it had all to do with developing a strategy. I wanted to identify somewhere with strong fundamentals for the future and with strong CF to enable me to continue investing which is now paying off.
I completed a huge amount of researching and developed further strategies and habits that I continue today when deciding on where to purchase. I read constantly and this includes publications like the Australian Financial Review. The AFR is an excellent source of information that provides an insight into where our economy is headed.
I find it's not only just identifying particular new mining developments but goes deeper than that. IMHO it's about reading the shift in the economy not only Australia's but global demand. We're hearing about it more and more lately...'The Asian Century.' The move away from socialism and development to a more capitalist model. The purchase of Australian arable land to secure food security into the future. Emergence of a middle class. The AFR is one source of information that keeps me aware of these massive shifts. All these developing fundamentals tells me that demand of hard coking coal and thermal coal is going to continue to rise into the future.
Governments can talk till they're blue in the face about solar energy and wind power being the preferred source of energy but these 'sustainable' forms of energy aren't going to build a city the size of Brisbane every month are they?!?!
Obviously India don't think so that's why Aldani bought into the Galilee Basin, rail and port infrastructure!
There's bulls and bears in all markets. I've developed my own thesis in relation to this global shift. I have no doubt someone will have a different opinion but hey.....that's what investing is all about isn't it. I guess we'll see in 10 years.
You sound like you are doing the right thing mate....contact the REA's. Don't believe everything they say but confirm through your own DD. Be careful not to purchase in the flood zone and you should be right. Study the Queensland Government sites in relation to population shifts and what stage these particular developments are up to...
Jack
Thanks Jack
I have done my reserch on regional qld, Emerald appears to be one of my three most desirable areas to invest.
Absolutely right, investment strategies, budget and investment goal should be the first step before even looking into a specific type of property.
Once I got that, my next step to move forward is
1. to contact some RE agents in the area and find out which part of the area is preferred, which property type is in higher demand etc.
2. Select one of the most suitable property based on the recommendation from RE agents and Realestate.com.au website.
3. Appoint local services to conduct building inspection, etc.
4. Proceed to buy
5. Comparing leasing manager and appoint one to lease it out.
Any comment on above? anyone?
JT7, would like to know how you first started to buy your first regional qld investment property.
Thanks.
You missed a step. Book some flights and go have a look. Asking agents to tell you where in town to buy having never been is like asking your poker buddies whether your cards are any good when they are at the table wanting your chips.
Check this as well
http://www.qldreconstruction.org.au/interactive-map/
http://www.qldreconstruction.org.au/interactive-map/
the info is great here, lots of quality first hand experience I have learned much from, I have and still am learning a lot every week here. stick around, tell us how you go if you buy a place up there. thats how we all get better at this ip caper.
Well said mate. Exactly right...we all learn from each others experiences good or bad.
Absolutely correct... I am really enjoying learning something new everyday. I have made some phone calls to REA, the conclusion from 3 of the REA are
a. Very tight market, not many properties available for sale
b. Corporate tenants are preferring newly properties, but will secure older properties in good condition or whatever they can get in this tight market.
c. 4 beds + 2 bath + 2 cars house is the most sought after. In tight market, everything will go.
d. 6% to 8% rental yield
e. furnished or unfurnished is optional.
Couple of the REA is pushing for Mayfair Stage 7, house and land package. It's not under floor areas. Any comment?
Thank you.
a. Very tight market, not many properties available for sale
b. Corporate tenants are preferring newly properties, but will secure older properties in good condition or whatever they can get in this tight market.
c. 4 beds + 2 bath + 2 cars house is the most sought after. In tight market, everything will go.
d. 6% to 8% rental yield
e. furnished or unfurnished is optional.
Couple of the REA is pushing for Mayfair Stage 7, house and land package. It's not under floor areas. Any comment?
Thank you.
I am just receiving the selling info. from REA, e.g Ray White & CD ADAM incl. villas and Mayfair 7 houses.
Interestingly, the prices on house and land package at Mayfair from Ray WHite have dropped around 2% comparing the first one received weeks ago and the last one received few days ago. ***Note: Pls don't quote me on this as I did not talk to the REA to clarify it. The prices difference might be due to the size of the land and house and location or even the design itself.
Anyone thought of the current market in Emerald?
Correction: Blackwater in Queensland is a town with a population of about 6,000 people and is a major coal mining town of Australia with six open cut coal mines. Producing more tonnes than anywhere else in Queensland Blackwater has developed its reputation as the “Coal Capital of Queensland”.
http://www.welcome2australia.com.au/queensland/blackwater/
So I can't see Blackwater closing down. My take is either Emerald or Blackwater should be good due to the fundamental shift in Asia that JT7 mentioned. All I can add is if you're not in QLD you may not be aware of the "time is of the essence" clause in real estate contracts. As I understand it, basically if you don't meet the settlement date the seller has the right to cancel the contract and keep your deposit. You can search for cases on the net where people have built over a year or two and thought they had good capital gains only to lose their deposit and have the builder sell the house on market as the purchasers weren't ready to settle. So it's worth being thoroughly prepared before settlement.
Good luck!
http://www.welcome2australia.com.au/queensland/blackwater/
So I can't see Blackwater closing down. My take is either Emerald or Blackwater should be good due to the fundamental shift in Asia that JT7 mentioned. All I can add is if you're not in QLD you may not be aware of the "time is of the essence" clause in real estate contracts. As I understand it, basically if you don't meet the settlement date the seller has the right to cancel the contract and keep your deposit. You can search for cases on the net where people have built over a year or two and thought they had good capital gains only to lose their deposit and have the builder sell the house on market as the purchasers weren't ready to settle. So it's worth being thoroughly prepared before settlement.
Good luck!
Hi everyone, first poster here.
Hopefully theres a good future for Emerald because I'm purchasing an IP there right now, the contract is with my solicitor.
I did alot of reading around and this site and a few others came in very usefull so thanks to all the posters and their wealth of knowledge.
I'm new to this property game and yet Emerald seemed like an obvious choice to me.
Dosent seem to be alot to choose from in Emerald lately, everything I've liked over the past 3 months has sold almost instantly . . . or has the potential to be water frontage on occasions.
Also have a townhouse in Fremantle WA, I've had it for about 6-years and its doing ok (up 100K and $575/week rent) but I expect Emerald to be a better performer.
Anyway we'll see if I'm wrong.
Thanks
Hopefully theres a good future for Emerald because I'm purchasing an IP there right now, the contract is with my solicitor.
I did alot of reading around and this site and a few others came in very usefull so thanks to all the posters and their wealth of knowledge.
I'm new to this property game and yet Emerald seemed like an obvious choice to me.
Dosent seem to be alot to choose from in Emerald lately, everything I've liked over the past 3 months has sold almost instantly . . . or has the potential to be water frontage on occasions.
Also have a townhouse in Fremantle WA, I've had it for about 6-years and its doing ok (up 100K and $575/week rent) but I expect Emerald to be a better performer.
Anyway we'll see if I'm wrong.
Thanks
Hi Rigpig
Welcome here.
Emerald should be performing well in the future as a town center with alot of things happening there.
I am in the process of looking for an IP in Emerald now. How did you go with your purchase in Emerald?
cheers
Similar threads
