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Wanna buy a house with good returns? Tennant Creek is a little hotspot not to be overlooked! A double brick home can be bought in Tennant Creek in the Northern Territory for under 300k and offer huge returns of 7.8% plus in a very secure government lease.
Tennant Creek once had Australia's highest gold and bismuth copper production and many mines are opening up again now that the price of gold has risen and it is now worthwhile to mine again. This renewed industry adds pressure to the housing supply which is already in desperate demand and 0 vacancy.
The area is largely Government based employees supporting a mostly Indigenous population. Housing is leased from private owners and sub-tenanted (given freely) to employees such as Teachers and Police to attract/recruit them to the area. If there were more houses they would be instantly snapped up for 'head-leasing' but the cost of building there due to distance makes new houses very expensive. There are double brick, 3 bedroom homes with huge well fenced yards up for sale now that are getting $450+ a week rent. And leasing to the Government is guaranteed. No tenant? you still get paid. Damage? It gets repaired. The longer the lease, the higher the return!
And what great places to visit on the way to checking on your investment. Kakadu, The Gorge, Kings Canyon, Devils Marbles, Uluru, Darwin – cheap flights from there to Bali…Perfect addition to anyone's Investment portfolio!
Not quite Metro, but places like Tennant Creek in the Northern Territory offer huge returns (7.8% plus) for a double brick home under 300k.
Tennant Creek once had Australia's highest gold and bismuth copper production and many mines are opening up again now that the price of gold has risen and it is now worthwhile to mine again. This renewed industry adds pressure to the housing supply which is already in desperate demand and 0 vacancy.
The area is largely Government based employees supporting a mostly Indigenous population. Housing is leased from private owners and sub-tenanted (given freely) to employees such as Teachers and Police to attract/recruit them to the area. If there were more houses they would be instantly snapped up for 'head-leasing' but the cost of building there due to distance makes new houses very expensive. There are double brick, 3 bedroom homes with huge well fenced yards up for sale now that are getting $450+ a week rent. And leasing to the Government is guaranteed. No tenant, you still get paid. Damage? It gets repaired. The longer the lease, the higher the return.
And what great places to visit on the way to checking on your investment. Kakadu, The Gorge, Kings Canyon, Devils Marbles, Uluru, Darwin – cheap flights from there to Bali…
Wanna buy a house with good returns? Tennant Creek is a little hotspot not to be overlooked!
