Now, Beenleigh, on the other hand…
Actually, this is interesting… up to 350 new construction jobs in the Kingaroy area if this goes through. They’re hoping for a 2017 start of construction. Kingaroy township only has a population of about 8,000 people , and is currently returning about 5.81% . What would those extra jobs do for property values and rents in the region?
Further to my previous post, the proposed new coal mine near Kingaroy is preparing its environmental impact statement, and the proposed new wind farm near Kingaroy is having its environmental impact statement assessed. If either goes through, it means lots of jobs for Kingaroy (what will this do for rents and property values?). Lots of property currently for sale there, and even now returns well over 5% (http://www.realestate.com.au/invest/house-in-kingaroy,+qld+4610). Worth a look, methinks.
Well, things look like they’ve jumped at Canungra. Thought so. :P Still achieving 4.8% returns (1), and only 2 properties currently for sale and not under offer listed under $400,000, though one does look like they’re chasing substantially more (2). Properties there have been going under contract in days.
Oh, I was on about Kingaroy before. The Coopers Gap Wind Farm nearby got their environmental approval (3). Has to be good for the area. Looks like jobs could be on their way there!
So for the last few years Kingaroy has hovered around 400 houses for sale on http://www.realestate.com.au, with 10-20 under contract. Just recently it’s dropped to only 356 for sale, and 330 not under contract (http://www.realestate.com.au/buy/property-house-in-kingaroy%2c+qld+4610/list-1?includeSurrounding=false&persistIncludeSurrounding=true&misc=ex-under-contract&source=location-search). I notice that in addition to their planned coal mine and nearby planned wind farm, they’ve got a Bunnings awaiting development approval (https://www.southburnetttimes.com.au/news/hardware-franchise-lodges-kingaroy-development-app/3188004/). And currently still yields over 6%! (http://www.realestate.com.au/invest/house-in-kingaroy,+qld+4610)
Further to that, there is now more info on the planned Kingaroy Bunnings.GregBParticipant@gregbarlowgmail-comJoin Date: 2017Post Count: 8SarahParticipant@sarahlouiseJoin Date: 2017Post Count: 10
Great tips Adam. Thanks :)BuyersAgentParticipant@knightmJoin Date: 2005Post Count: 330
Haven’t seen many updates to this thread recently.
I have a recent client deal that looks to be our strongest cash flow deal this year – purchase price negotiated at $650k, current rental (house plus legal/approved Granny Flat both tenanted) combined at $810pw for around 6.48% gross yield. That will drop to 6.4% or just under as a few repairs are required but no major renovations needed.
The best thing is this is in the Wollongong/Illawarra region – so a decent capital growth region. The buyer definitely benefited from a motivated seller moving away being willing to negotiate. They paid over $700k some yrs ago.
How are people going finding positive cash flow deals in 2019?