which is why I would recommend sticking to the state capitals.
Whyalla
- Thread starter Whishy
- Start date
which is why I would recommend sticking to the state capitals.
Nothing to do with a slow down in the mining boom
It's called over development - it was in anticipation for Olympic dam expansion
The council dropped their guard
The biggest mining based employer in whyalla is Arrium and they have been expanding for the last year
There is no other real mining employment to talk of , never was
I'm still tipping there will be one day though. In the meantime happy to wait and sit on a neutral property which I can easily subdivide.
It has nothing to do with captials.
It's why you should stick to diversed industries, there are many regionals with these.
Seminar selling property...
I could almost say that's as bad, if not worse than all the spruikers flogging the other mining areas in QLD and WA. Well overpriced. Those yields are quite low as well for Whyalla. I suspect these could be ones in parts of Whyalla Norrie and Whyalla Stuart that have had semi's knocked down so they could build.
These would be in the higher end for prices in the Whyalla market and that part of the market is quite soft. Rental supply in general has gone up too in recent times.
Pretty much nothing has happened with most of the proposed developments and no change in sight in respect to those, but at least in the last couple of weeks, Mitsubishi has announced they're going to go ahead with a $110m diesel import facility at Port Bonython, and Defence announced the $80m upgrades for Cultana. Probably won't do much for prices but at least some stuff is going ahead.
Whilst that wasn't their only agenda it was a big part of it. Multiple companies under one roof offering loan restructures, finanacial planning etc etc. One company offers a product which is benefited from the next etc etc.
I assume as one of the companies is a developer that they just use this to off-load stock whilst the other part convince you of the benefits of investment properties as a whole etc etc.
That is a rubbish yield for out there. The last ones I looked at were in the 8%+ gross range. That was a little while ago, they were everywhere a year ago.
I know.
Like somersoft
?first thing I did was search for information here, where there is always biased and unbiased external information
I know.
Like somersoft
first thing I did was search for information here, where there is always biased and unbiased external information
The general calibre of user on this forum continues to astound me. There are some very significant investors, many many multiple property owners and many professionals (who also invest) willing to share their own specialised knowledge.
There are not huge numbers chasing regional options though, bigger pool of experts in the capital cities (as it should be).
Whyalla wouldn't be my first pick as an investment if you are looking across the wide brown land, its got quite a bit going for it but you need to have a really long timeframe to see it all come to fruition. There are other more diverse regionals that would be safer in the short term.
The only thing with regionals they are CF IF that's what's your after in the interim.Towns solely based on mining have a use by date.That said though,there are regionals that are diverse par mining.
Again that said though,CG's are long term BUT a crystal ball,small CG's at that imo.
Cheers Spades.
Again that said though,CG's are long term BUT a crystal ball,small CG's at that imo.
Cheers Spades.
Spruikers love selling this junk. Look at what's on the market and you quickly realise how poor these properties will perform.
