I've been told there are some locations near Broken Hill with $120 house available, part of a government/community project to stop ever-dwindling populations. Does anyone have any further information?
I remember seeing something similar on one of the current affairs show a few months back. Pretty sure their not available to city investors looking for CF+ deals
You're right though, they were about boosting population levels – I can't remember the exact requirements or eligibility criteria.
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After a place to call home, not a CF+ IP. I hope this IP market burns itself out and people can afford to live in city properties once again. My workmates just bought a $800K house and are not even thrilled with what they got – an okay house in an okay area … 'ok' isn't what we should get for $800K.
$120 seems worth living in a desolate town for, maybe we can make something good happen there.
Broken Hill is a long way from everywhere though. There are plenty of regional areas a lot closer to major cities, sure you won’t get a place for $120 but there is a lot better value if you are looking for a place to call home. We had a 4 bed, 1 study, 2 bath, place on a 1000m block in Albury, walking distance from the city centre – got it for $230k. Only trouble is we had to move back to a capital city as my husband’s job is rather specialised.
Now in Adelaide and we would never find a place like it for that price
Oh well
Bumping for new leads
Elizabeth in SA has some good deals. I just missed out on a duplex yesterday. Both sides of the duplex all up 1150sqm of land across two titles in an area seeing some encroaching development. $270K renting out for $400 ($200 each side). I was in a meeting and submitted my offer at 10am and an offer had been made at 9am and accepted. Another will come along I am certain.
Wynyard wrote:My workmates just bought a $800K house and are not even thrilled with what they got – an okay house in an okay area … 'ok' isn't what we should get for $800K.Geez, $800K for an 'ok' house in an 'ok' area? Where did they buy? I'd be very thrilled if I could afford to live in (ie. not buy and rent out as an IP) an $800K house.
Thornbury, actually they seem pretty happy with the house, just not the location.
Wynyard wrote:Thornbury, actually they seem pretty happy with the house, just not the location.Well, they could have done a lot worse. Buying at $800K hoists them well out of the first home buyer territory, the sub-$500K houses that many first home buyers are either desperately trying to buy, or hoping to afford. I don't know Thornbury well, but it is near other 'trendy' suburbs and Thornbury will hence become trendy also in no time. Close to parks, public transport (train stations) and expensive suburbs. What's not to like?
Wynyard wrote:Bumping for new leadsShoalhaven.
Fast growing area.
coastal
2 hours from Sydney and Canberra
Cheap houses( nowra area)
great for families
I live there so thats a big plusShoalhaven seconded. Margaret Lomas is a fan of Nowra too as I recall. She rarely makes a bad call. (I actually don't know of a one.)
My recent experience;
Feb 2011 settled on 3×3/1/1 villas, single title. Brand new. Cashflow positive after a rent increase. Maybe neutral after a couple of repairs. Strata titled and revalued in Jan 2012 for an extra $115k. Gives me almost enough equity to buy another one just like it. I would buy again in Nowra but my strategy insists I don't put too many eggs in one basket.
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