All Topics / General Property / Buying frenzy in Rockie……

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  • Profile photo of AlwayslearningAlwayslearning
    Participant
    @alwayslearning
    Join Date: 2003
    Post Count: 44

    [:)]Try and get hold of cheap property in Rockhampton the agents are hard pressed to find stock for investors up there ….

    Years in the doldrums it seems that investors are finnding good pickings as rent yeilds are quite high 8% plus not only that vacancy rates are a low 3 to 4%

    So while negative sentiment kicks in the inner city apartments in the south and auction clearances drastically drop. Queensland towns like Rocckhampton Harvey bay Gladstone Warwick Bundaberg cairns Yeppoon are enjoying exciting activity

    Profile photo of riffraffriffraff
    Member
    @riffraff
    Join Date: 2003
    Post Count: 68

    If the agents cant get enough properties listed would that not make it harder to get a good price?

    ie. heavy demand = sellers market
    over supply = buyers market

    What the mind of man can conceive and believe, it can achieve.

    Profile photo of richmondrichmond
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    @richmond
    Join Date: 2003
    Post Count: 831

    You could get yields of 12% or more for decent places in Rocky only 6 months ago… are you talking up Rocky cos you’ve just bought there alwayslearning?

    r

    Profile photo of ErikaErika
    Member
    @erika
    Join Date: 2002
    Post Count: 151

    Hi All
    I always thought a vacancy rate of 4% is getting on the high side. If Rocky is low at 3-4% what is it normally
    Erika

    Profile photo of AlwayslearningAlwayslearning
    Participant
    @alwayslearning
    Join Date: 2003
    Post Count: 44

    quote:


    You could get yields of 12% or more for decent places in Rocky only 6 months ago… are you talking up Rocky cos you’ve just bought there alwayslearning?

    r


    WISH I COULD HAVE GOT IN AT 12% YEILD RICHMOND I ENJOYED YOUR RECENT STATS ON ROCKIE AND YES I HAVE BOUGHT THEIR MYSELF AND SO HAVE SOME OF MY ASSOCIATES
    STILL THERE ARE BARGAINS AROUND IF YOU ARE PREPARED TO LOOK FOR THEM YEPPOON IS 30MINS AWAY GATEWAY TO KEPPLE ISLAND
    I HOPE SOMEONELSE HERE GETS A BARGAIN

    Profile photo of uncivilizeduncivilized
    Member
    @uncivilized
    Join Date: 2003
    Post Count: 38

    I have just had my offer for a property in rocky accepted. It is my first property purchase. My investment has a rental yield of between 6-7%, a little low, however I am happy . My property is not one of lower price ranged properties available in rocky, as I felt uncomfortable purchasing my first property at lower price range. It is more in the mid price range.
    I spoke to one property manager in rocky, who advised that it is taking between 2-4 weeks to lease out rental properties, and this time of the year is the quiet period, however it should pick up after christmas.
    If you look at my “termite” topic , I have a big decision to make whether I will proceed with the sale.

    matt

    Profile photo of mcollinsmcollins
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    @mcollins
    Join Date: 2003
    Post Count: 58

    Did you buy the hiuse in Abercadabre for $75,000 ?

    Profile photo of wannabe2wannabe2
    Member
    @wannabe2
    Join Date: 2003
    Post Count: 65

    hi guys in reply to richmond i recently bought a block of units in innisfail at 12% return and there are still a few bargains available but for how much longer i’m not sure,only problem is the rates are high,but as i said returns are still good[:)]

    Profile photo of Richard TaylorRichard Taylor
    Participant
    @qlds007
    Join Date: 2003
    Post Count: 12,024

    Buying a good priced IP is like anything else in business it takes time and research.

    We have over 20 homes in Rockhampton and thanks to the contacts of 1 decent real estate agent are still able to find homes that meet our criteria.

    Remember Rome wasn’t built in a day.

    Cheers Richard
    [email protected]
    http://www.fhog.com.au

    There is no such thing as a problem.
    Just a solution waiting to be found

    Richard Taylor | Mortgage Broker helping investors build their wealth thru property
    http://www.mortgagecapitalaustralia.com.au
    Email Me

    100% Investment Finance now available on selected properties. Email us for further information.

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