hi all
my first post here. great to see such a vigorous forum dealing with property investment. i kind of wish now that i read a few of the comments regarding investing on the west coast of tassie before buying.
so yes ive just bought a 3bdr in q’town. on a good note, the vendor will lease back the premises for $120 p/w for the next 12 mths. the numbers show that the investment will cost me $4.37 p.w. that doesnt include any maintenance. its the proceeding 12mths that concerns me. there seems to be quite a lot of negative sentiment on these forums about investing on the west coast.
this investment was always intended to be a long term, hold position. i am concerned though about long term values given that the population there is so tied to a mine that is run by a company that recently crawled out of liquidation. i hear that the ecotourism market is growing.
i would love to get the forums long term views (+10 years) on the area, particular of you that live on the west coast.
cheers
Eric
Hi Neo
As i have previously stated i am originally from tassie on the north west coast(Burnie). personally i would have stayed away from Q’town, yes the house was probably cheap but the number of possible tenants in the area is pretty stagnent and as you said yourself the mine barely escaped liquidation, this has alarm bells ringing for me straight away. However, tourism Tas has been promoting the whole state big time and one of the main draw cards is Q,town so with any luck the population will pick up, as for the price they have rose significantly in the last 5 years so you may be on a good thing.
Anyway good luck
Ty
hi ty! thanks for your feedback and wishes. appreciate your view.
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