What's doing in Rocky?

I

Icarus

I bought a unit there on the weekend, things have been VERY slow over the past few months; but things are starting to pick up again now. The agent I was dealing with has put 4 houses under contract in the past week aparently; he is jumping for joy as he said that he was lucky to do that number in a month previously.

Teys seem to be employing a lot of their overseas workers again and the push from the mines in Blackwater/Emerald is just starting to be felt again.

There are some REALLY good bargains out there at the moment!
 
Notaxez

Notaxez

I was wondering the same thing as you can get some decent positive cash flow properties up there. My friend lives there and has 2 properties. She dosent know why there are alot on the market but just that there are some good prices around. anyone else got any other info on rocky?
 
mattnz

mattnz

Why would you invest in Rockhampton with Gladstone, the certain boom town just an hour down the road and with far less stock to be cleared.
 
H

HappyCamper

mattnz said:
Why would you invest in Rockhampton with Gladstone, the certain boom town just an hour down the road and with far less stock to be cleared.
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Looks like there's plenty of stock in Gladstone too - 627 on realestate.com.au. High vacancy rate and low yields to boot.

I haven't decided on where to invest. Still weighing up the options.
 
I

Icarus

mattnz said:
Why would you invest in Rockhampton with Gladstone, the certain boom town just an hour down the road and with far less stock to be cleared.
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Because Rockhampton has good long term growth, low vacancy rates and is CF+ now. No need to count your chickens here, unlike Gladstone. Plus it is a much larger centre (population/size wise) than Gladstone and is the main "shopping" place for towns like Emerald, Blackwater, Duringa as well as Gladstone to some degree.

Look at median house prices compared to Gladstone. You can pick up 2-3 properties in Rocky for the price you'd pay for one in Gladstone - I know what I'd prefer to buy; but everyone's investing strategy is different.

P.S. Nothing's certain but death and taxes! :)
 
P

Path2Paradise

I think the market is making a 'correction'. I know of a few properties for sale that are selling at the same or below 2007 prices.

I would agree with Icarus, it is the main 'shopping' provider for the CQ area, Gladstone people go there to shop for furniture and clothes etc. Rocky doesn't seem to rely on the mining industry as much as Gladstone does.

I think for the price of some properties the return on investment is good. Now, off to find that money tree....
 
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