Where's Hay (2711) ?

[MTR]

Just thought I would post this link, sure its only 3 months stats, however Hay 2711 has recorded the highest growth in the last quarter... 34.7%, how did that happen, I thought areas in the sticks did pretty much nothing, this is a town with population just over 2000. I suppose Nathan has been buying up for his clients???

The link includes other stats for all States in Oz for those interested in viewing this.

http://www.news.com.au/finance/real...-you-expect-them/story-fncq3era-1226920342856

 

[tobe]

farmer wants a wife television series skewing the figures?

 

[Peter_Tersteeg]

Most of my personal experience is over 20 year old. I spent many summers in the general area working on or near farms with my Dad.

As I recall, Hay is a farming hub in regional NSW. It primarily services farms producing wheat, rice, beef, sheep, etc, from the surrounding districts. There could be some mining in the area these days but I don't know.

I doubt there's much of any significance to promote sustainable capital gains and there's no real growth inhibitors either. I imagine the rental return is reasonably good, which may be what's pushed prices up.

A population of 2000 isn't helpful for providing reliable statistics.

 

[underdev]

Its a skew in the data set. There is not enough sales to produce reliable figures in particular a median needs a large data set to produce anything of value. Have a look at sold homes in the last 3 months, figures vary significantly and some are quite strange.

It makes a good headline. DYOR whenever news.com is reporting!

 

[WattleIdo]

farmer wants a wife television series skewing the figures?

haha or they might've started up a new course at TAFE?

 

[BayView]

We used to travel up to Hay to play golf from where I lived...just another small country town centred around farming.

The town was so small that the golf course had "sandscrap" greens, and not much grass anywhere else - minimal groundstaff and dollars for maintenance...gives you an indication.

I can't see it ever going ahead - probably slowly backwards like so many others like it.

 

[nhg]

Hay is a tiny town in the Riverina. Nothing special. No mining just agriculture.

Cootamundra has the railway line. I worked there for 8 months. First time anybody I knew aluded to positive geared property.

A colleague had purchased the bank/resi building for a bit over $100k. Bank was offloading to make up a budget. Massive multiple rents. Got me curious.

 

[INVSTOR]

Got a smashed windscreen there. Had to go to hardware store and buy plastic to tape in place of it and drive to a bigger town to get replacement.

 

[Banawarra]

Hay has been dead for years, certainly since the drought. I used to live near there and spent a bit of time there and have a family member that owns commercial property there which has been been a good returner for the last 15 or so years. Cotton has become a lot more popular crop there now and they are building a new gin in town. I think this is the main reason for the growth. It is probably the first positive thing to happen to hay for 10 years or so.