Townsville - gone ballistic?

Great posts guys.

I am considering investing in Qld. I am one of those fortunate WA investors who has seen his equity rise above all expectation. I have recently sold one of my 3 IP's to pay out all my PPOR debt. This decrease in monthly loan commitments coupled with a big pay rise has seen my fortunes change dramatically for the better. I am now cashflow heavy. :) But not as optimistic as my WA colleagues as to where the WA market is now going.

I recently viewed a RE paper from the Cairns area and couldn't believe the rental yields (anywhere in WA is 2 - 3%) and how comparatively cheap prices were. The WA market has left no coastal area unturned.

I have marked out my "where to from here" options. This includes buying into a less overheated market.

I will only buy into Towns / Cities that have say a 20,000 plus population.

Could someone please be kind enough to tell me which QLD places met this category (Brisbane, Cairns, Townsville, Rockhampton?, ...) and a brief view on each of these places.

I may use QLD for a buy and hold strategy - but would like a little initial growth to wipe out purchase costs and a decent rent yield. I only look to buy houses - not apartments or duplexes.

Many thanks.

Regards

Keen
 
RichardC said:
The Townsville Bulletin today tells us the median house here has risen 15% Y on Y.

Still own here Seech?
Click to expand...

Yep....;) . Sold all in rocky , but will be keeping our one in Townsville.

Eventually I will get up and finally see it. Will have to go out for a fish.

See Change
 
Hey Thommo

Will it be OK to pick your brain for some good reliable tradesmen in Townsville come closer to June/July in 07.

We're looking at coming up to do a full renovation, but only have 4 weeks annual leave, so we may need some tradies to finish off.
 
An interesting post from my point of veiw. Like Keen, we have seen our equity go through the roof on the back of the WA property boom and plenty of servicibility left with rapidly rising incomes. However, whilst I still think there is good steady gains left in SW corner of WA (Perth to Augusta) the rent yields have fallen well behind (I'll post separately on this subject).

So having spent most of my life in the Whitsundays and therefore being very familiar with both Townsville and Mackay, I recently started researching these cities as possible alternative investment locations. Re Townsville I have been very impressed with the transformation of the city over the last decade (never used to like it much). It has heaps going for it and I'm convinced it is well on the way to establishing itself as the "capital of the north". Previous posts about prices and rents agree with my own research. My personal preference would be for a relatively new property around Kirwan - higher rent and depreciation benefits. My main hesitation is that I'm not yet 100% convinced that I could get average 8% CG in the future which I believe I can get in SW WA. However, I'd also like to diversify my portfolio so I'd like to be convinced...I'll watch this post with interest.

Re Homehill and Ayr...both towns are almost solely reliant on the sugar industry which is far from healthy. Tourism is not as strong as in other NQ towns as they just don't have as much going for them. Both towns are actually located a short drive away from the coast so no picturesque seaside veiws from town. I don't really see any significant growth prospects for either town which will limit scope for CG and rent growth.

Flatout
 
RichardC said:
eeerr. Good tradesmen? Available? Would something easier like a few good market tips do instead? :D
Click to expand...

I probably could do with some market tips, In fact I'm sure I could as its not my forte but I remain a bit distracted from the sharemarket at the moment.

Just finished another IP Reno and finally getting back to doing our PPOR. It's well oerdue, I promised we'd finish it after we completed building the Holiday house IP that's at least four years ago.
Hmmm, Priorities.... ;)

Four weeks aside for a complete reno might be a bit of an ask, We'll see.

I'll check with the PM for a plumber and electrican closer to June.
 
which suburbs in townsville

I am looking to buy in Townsville, and came across with this thread. would appreciate if townsville investors can give an update on this market. what is your view ? and what suburbs to look for or advoid : kiran, deeragun, burdell, kelso, kingston park...
thanks hips
 
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