Hi all, has anyone purchased any properties in Kalgoorlie?
Any information would be appreciated.
ThanksHi Marisa,
best to talk to or pm Redwing, hes from WA, but hes pretty spot with, the yields and what type of investments deals and properties that are in most WA areas…
Great fella to talk to. [strum]
Cheers,
sisMarisa,
Was there 2 weekends ago. A place I would consider as long as you realise that the yields go up and down with the mining industry ie: if mining industry is booming, your yields will to, if mining industry not booming then yields drop.
A vast range of housing types available so pays to actually check them out. Also, a waste treatment plant is in planning stages for Kalg (to replace the one in Bookdale, near Armadale in WA that was closed down due to illness that surrounding people said they were getting from the plant. Not proved, but it was closed anyway due to public demand). Kalg residents are now up in arms about it, so whether it will happen or not I don’t know, but if it does I believe it is planned to be behind the airport somewhere, so it may pay to keep well away from the airport.
Redwing may be able to help more with actual yield figures.
Regards
PKThanks Still at School ,
Calling on the expertise of REDWING to tell all on Kalgoorlie – Boom times at the moment – but what about the future….I settled on a property in hannan street about a week ago. 105k and $240 per week. The figures looked good and I believe the place has a future.
Spider
Hi Marisa,
Being a mining town Kalgoorlie does have significant movements in property cycles. At the moment it is experiencing an upswing largely due to the signifcant improvements in the nickel price and a simalr steadying in the gold price. Aligned with these movements is the upswing in exploration activity.
Kalgoorlie is largely built on clay based soils and double brick homes need extensive foundations to help alleviate any cracking caused by soil movement – make sure any reticulation systems spray away from the house.
There is considerable difference in property prices across Kalgoorlie. The elite area of Kalgoorlie is found in the Hannans and Racecourse subdivisions with the airport area around Boulder having sigificant building activity over the last 10 years. Old Boulder and the area around O’Connor are areas that tend to experience more than their share of social problems and under no circumstances buy property in Adeline. Central Kalgoorlie and the area around Picadilly street are fairlt ‘safe’ areas and are close to most facilities.
Believe it or not land is in short supply in Kalgoorlie/Boulder due to mining tenements and Native Title rulings, as such there can be delays in having new land released.
For this reason there has been considerable ‘battle axe’ developments in the city and many of the huge backyards are now taken up with rear homes.
Derek
Thanks Derek, very interesting information…. will look at the areas you suggested.
Cheers.Derek,
Whilst ideally there should be no gardens directly on the exterior walls of any house, it can be advantageous to have reticulation to regulate the moisture content of clay soils. Walls crack when the soil is dry and then drenched causing expansion and can occur with normal climatic changes. This does of course then raise the problem of tenants turning reticulation off to save on excess water charges. One house we fixed had cracks large enough to put a hand through following 24 hours of heavy rain after a long dry spell. If reticulation was installed this would not have occurred.If I knew then what I know now……….you know how it goes
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