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Good points PJevans the more views to hear the better. This is how I see it from my research and stepping foot in TV. If you are after an established suburb I think you can’t beat Kirwan which is the biggest and probably the most popular suburb with families. Its out near Lavarack Barracks, the Uni, Hospital etc with many schools, large shopping centres and the ring round nearby. I also found it hard to change my way of thinking as to the makeup of large regional cities as say opposed to Sydney, Melb etc. There is almost nil public transport as the motor vehicle rules. Living close to townsville CBD I believe does not hold that many advantages for residents as many do not work in the CBD. Believe me the ‘cbd’ is not what I would call a city centre such as major capitals in fact I found it to be quieter pedestrian and traffic wise than the outer suburbs of Townsville. Directly across from Hermit Park on the eastern side of the Ross River is ‘the village’ oonoonba which is 3K’s from the CBD. The new land lots are not really any more expensive than say north shore, Bohle Plains Kalynda chase or Mount Low. This is in contrast to large capital metro cities which you pay a premium to be near the CBD or inner suburbs. Also the same goes for the beaches of Townsville price wise are not like other big cities. Go swimming there and you may not come out again?. But you will pay a premium to buy a new land lot around a man made lake say Idalia (fairfield waters) which has many walking/bike tracks right around the lakes attracting a certain lifestyle which you will pay for if you have a water view.
Obviously the town has grown dramatically over the decades and the council has pushed most of the new development toward the north west corridor as you can see on google maps toward bushland beach, burdell etc. The actual city centre as such is pushing west where the majority of people will live and have access to everything at a short driving or walking distance. Whilst I drove around TV the traffic in the afternoon from the army barracks heading west on the ring road was extremly heavy combined with the Uni. All heading west and north away from the CBD area not due to cost but land availability and easy access of the bruce hwy and airport.
Some 4000 new arrivals are making their way into TV every year, each and every year for a long time. They are not keeping up with new houses and accommodation for these people even though many brand new apartments built in the CBD remain unsold as they are looking for new houses to buy and rent. This people include thousands of FIFO’s who only need to access the airport and have no need to go into the CBD area. I would suggest you make a trip their first and look around before buying. Townsville as a whole will no doubt get good capital growth over time as long as the suburb or area is a quality suburb with good access to everything be it close to the CBD or 20 minutes out of the CBD. Many 1st home buyers can get into the market for under $400K new house and land and many more are probably happy to rent. But at some stage the land price will increase as houses are built a long way from access to the large employer hubs and the airport. good luck with your venture.
Hey PJevans. I can’t specifically help you with the suburb of Hermit Park. Looks central with mater hospital, large shopping centres around and close to city. I don’t think you can go too wrong with Townvsville in general but it would pay to ring a few different agents in TV to make sure the suburb is not full of Dept of housing etc. It all depends on exactly what your are after in investing?. For me rental returns are not at this time a priority but more so capital growth. You will normally see yields increase with capital growth. Many regional areas can have positive geared property but it doesnt mean it will go anywhere in the future. Without capital growth you are going to find it hard to continue investing in further property if thats what you are after. I will also recommend stockland North Shore to you as I will get a referral gift if you buy there, Ha Ha. What I use to gauge growth is major property players in certain localities especially in QLD.
A couple of days ago stockland bought another shopping centre in Townsville for $35 million. Look at all the new estates in Townsville V Cairns?? Look at sunshine coast and toward ipswich with every major developer busy in the mix. Every big player is at work because they know the developments will sell because of increasing populations and good growth factors continuing for the foreseeable future. This can’t be said for NSW and VIC. I don’t know much about Cairns other than holidaying there but I would be very hesitant to buy purely in a tourist hub. For me buying into North Shore Townsville new house/land package with everything you ever need at your fingertips is hard to beat and if thats in your price range you would be mad not to consider it.
regardsno worries I wil muck around with the profile set up later tonight. I was looking at augustine heights next to sprinfield in brisbane. massive infrastructure happening in sprinfield new train station 2013 etc etc etc but others will spear you toward mining towns and dismiss brisbane so little unsure as to what risk factor im looking at? also sunshine coast has some promising things happening around the new $2b unvirisity gold coast hospital. Not sure what other employment factors are around but the population is heading toward half million from 330K which is massive demand in general.
Yeah, you can still lodge the intent to claim rebate with the QLD OSR by just signing a holding on the land I believe but you must have the full contracts submitted by end of August. The rent @townvsville would be $410-430 perhaps 450 with a larger 4 bed house in lieu of smaller invester style 4 bedder. If you need more advice on Townsville you can contact me direct. All I need now is to find the next investment somewhere else in QLD?
good point mjbluue with north shore each stage is a staggered released locked at max 28% investor per stage on initial purchase. usually the smaller lots are better for investor packages which sit alongside the larger owner occ dwellings. i looked at kirwan at willowbank estate a few lots left. close to willows shopping and central location but no of the same standard set by north shore development. this was obvious by when driving around. good spot and popular as close to barracks, uni, hosp. north shore is a 10-15 year project by stockland who use this model elsewhere check out sunshine coast brightwater estate (smaller version). they are very good rolling out the infrastructer first which draws the people rather than the other way around.
SamAus 74 for your info i’m back from Townsville and liked very much what I saw. Bought a land lot in Stockland North Shore development and putting 4 bedder on it. all up @ $406 plus stamp duty for 214sq new dwelling on 500sq good placed lot @$419 with stamp but i wil bank the $10K qld rebate in my morgage instead. check out north shore site on web for flyover of development. I checked out all my research during my 2 day adventure and basically struck off each one on the way. i did a full circle and had no problems putting a hold on this place. great spot townsville its got everything you need and very easy to drive around. you can see why so much growth is happening here/? Numerous new estates underway and popping up to accomodate 4000 new people every year but they will run out of premium space at some state as areas push way out of town. public transport does not exist as its easy to get around in a car which everyone does. As mentioned you want get the high reward high risk results like some smaller mining based towns but you will get good growth with better security over time. If I didnt want to use the spread your assests principle I would happily buy another property in townsville.
regardsThanks for info on local issue about north shore. good to know. If thats the worst issue so far thats a good thing.
SamAUS74. Let me say I am certainly no expert invester or near. This will be my 1st IP on my own and I have been furiously locked to this computer driving myself mad trying to understand things. You are right to keep properties in different areas as I would like to buy 2 in townsville but would not take the risk. Thus looking at Augustine Heights near ipswich with MASSIVE development into next suburb on springfield, “check it out” from what Ive heard brisbane will take off again in about 24 months so good time to get in with h/l package in cheaper area. You can buy into northshore townsville for the price you mention. It may be a 3 bedder but I dont think that is such a big deal as people dont seem to have large families like they used to. Also if you rent do you really want to look after a 600-700 sq meter block of lawn and garden every week? You can do many things with neg gearing and cash flow set ups if you have know a very good financial advisor/broker. You can legaly set up accounts where your rent payments go into your own morgage offset account to reduce bad debt. I have been informed you must run interest only on all your investments including own morgage and hope to achieve max capital growth to keep purchasing. I like the look of nRAS on paper for pos gearing but other more informed are telling me to stay away. I will post when i get back from the north on monday and let you know how much of the banks money i have spent. remember the 10K qld grant can be put straight into your own morgage. nice little earner
regardsThanks for the post Anthea. It reaffirms my weeks of studying Townsville as a solid long term place to invest. I am from Sydney and would steer very clear of NSW and VIC as both States are broke, new GOV and private investment in bugger all and affordability is dire. With mining boom mark2 about to begin you will see the majority of this money flow into QLD and WA and this can only be good for infrastructure spending and continued strong growth and large towns/cities.
SamAus74. Well I have done a lot or research on this market now to the extent my finance broker says i have analysis paralysis. As a market itself it has no been designated qld’s 2nd capital city by the Governement with almost 200000K people and growing with 4K people every year. It is bigger than Darwin. What I really like about TV is that it has about 5 seperate but equally important economies that make up about 13% of the economy in each category, defence biggest army base in Aust, Lavarack barracks, Raaf base, James Cook Uni, Agriculture rich industries, mining, massive port facilites the export center for mount isa etc, strong retail establishment. So it has a strong mixed base NOT JUST MINING. Tourism about 5% so when downturns occur take a lot at Cairns. Best water supplied city in Australia only negative the occasional cyclone. Looking at the property location side of things I am sticking with a new 4 bedder house land package. I have looked at fairfield Waters (idalia) not much left overpriced, the village oonoonba (lack of detail available could become ghetto with unit blocks being build in precinct although close to cbd. From what I understand many people do not work in the cbd so distance is not such an issue like big cities in other states. I am now looking at the stockland North shore development which is $1billion over 15 years 1000 hectares 15 thousand residents with everything at your fingertips. In fact flying up tommorrow to check it out. You can choose you own builder or take house and land from mid to high threes to early fours. For long term capital growth i think this is sensible. Yields will follow capital growth and are not my priority. this development only allows 28% investors in each stage release which keeps yields stable and an ownership within the community. be careful of some developments with do not have caps as you will have 10 new houses for rent at the same time ie bushland beach. At @$400K for a package with $10K QLD stamp duty refund I will probably take it if I like what I see. I will also look at buying a h/l package near springfield brisbane in a SMSF trust next couple months. Not sure about NRARS as lenders do not like it and it could limit your lending ability for purchasing more properties down the track with equity. Every Fed Gov scheme often ends in disaster. You can pay a premium and get into Gladstone, mackay, chinchilla and the alike for a quick buck $$$$ but thats not for me. Long term strategies in good economic cities with forseable growth. good luck
Hi there,
I’m completely new to this forum and property investment generally. I am interested in buying into a property max @$430 inc stamp duty in the Gladstone through Mackay, emerald area. Living in Sydney this money would be lucky to be a typically serious overpriced very old one bedder unit on the northern beaches with high annual strata rates.
I am looking for long term capital growth up to 20 years with good yields second to that and have found myself looking toward the above areas where most of the investment is happening on the east coast. Can someone give me some advice or reassurance of why I should buy a place say in Gladstone or emerald to hold for 20 years as a good investment. At this price should I be looking at a newer place on a small block or older house on large block or apartment?. I also have to remember if investing in a self managed super fund SMSF I can’t negative gear the property so a newer place may give better yields but no depreciation to use for tax.
Any advice would be greatly appreciated
grant
