All Topics / The Treasure Chest / TASMANIA’S UNREAL ESTATE BOOM

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  • Profile photo of truebluetrueblue
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    @trueblue
    Join Date: 2003
    Post Count: 142
    August 14, 2003 - 4:16 am

    This title is taken directly from Jennifer Mead’s article in this week’s BRW. For anyone thinking about investing there, have a read. Also read John Stensholt article in the same magazine for a different perspective. Very confusing, to say the least.

    Profile photo of aussierogueaussierogue
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    @aussierogue
    Join Date: 2003
    Post Count: 983
    August 14, 2003 - 5:09 am

    hey trueblue (sounds like the start of a song)

    any chance you can tell us the crux of the article

    im guessing it suggests the market has been swamped by mainlanders looking for investments and holiday shacks and thus pushing up the prices.

    and the other one says tasi still represents good value because the mediun prices are still well below the mainland???

    cheers

    Profile photo of MelanieMelanie
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    @melanie
    Join Date: 2003
    Post Count: 382
    August 14, 2003 - 5:29 am

    I think this was a week or two ago and basically yep aussierogue (sounds like a spoof of Crocodile Hunter [:D] you are spot on. I recall there were comments like Melbournites paying $300K for inner city units with high vacancies that are worth much less etc. Ouch.

    Friends bought in the 1-2 hours outside hobart range 6 months ago and have done really well though so again it’s just a case of doing your homework.

    [:)]
    Mel

    Profile photo of truebluetrueblue
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    @trueblue
    Join Date: 2003
    Post Count: 142
    August 14, 2003 - 5:32 am

    Good guess, aussierouge.Basically the 1st article stated Tasmania’s population has declined from 4.5% in 1901 to 2.4% now. Over the past 15 years, Hobart has recorded the lowest rise in residential property prices – less than 1% than any other capital cities. Also population trend is to move towards the warmer areas.

    The second article estimate 1/3 of sales being from the mainland. Annual yields of bet 8% – 10% being the major attraction. Everything in Tasmania is good value!!!!!

    So what’s your bet?

    Profile photo of aussierogueaussierogue
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    @aussierogue
    Join Date: 2003
    Post Count: 983
    August 14, 2003 - 5:39 am

    hi melanie – its 11 c here in melbourne so my khaki shorts are hibernating for a few more months.

    hey trueblue – i reckon returns were 15-20 pct 1 year ago. i need 15 pct as a buffer againsts a population that is shrinking

    also reckon capital gains will be good for next 12 mos atleast as the property market continues to bubble along.

    [:D]

    Profile photo of MelanieMelanie
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    @melanie
    Join Date: 2003
    Post Count: 382
    August 14, 2003 - 6:19 am

    It’s 25 deg C in Brisbane [:D][:D], and I’m about to take my mutts for a walk in the park with all the ex-Tasmanians wearing, you guessed it, shorts and T, then come home and prep for novice property investing group meet at our house tonight with Tassie investors I mentioned, might have more tomorrow on their deals … !!

    Re margins, totally agree after reading about 3/4 of Steve’s book so far today, happily aiming for the stars at 20% on residential and 30% on commercial … now where did I put the keys to the Landcruiser …!

    [:)]
    See ya,
    Mel

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