DaviddanaeMember@daviddanaeJoin Date: 2005Post Count: 64
Recently I have been looking closely at the Kalgoorlie market. Could anyone advise if they have had any experience with this region? Both positive & negative, would be appreciated
DavidcrusherParticipant@crusherJoin Date: 2002Post Count: 186
I have had an investment unit in Kalgoorlie for about 18 months and it has given me strong captial growth and positive cashflow. It is on a renewable 2 yr lease so I haven’t had any vacancy issues. It is more difficult to get CFP properties now but I believe capital growth will be still strong for a while because of the resource boom. My experience has been all positive so far.
http://www.freepropertyhelp.com.auDaviddanaeMember@daviddanaeJoin Date: 2005Post Count: 64
If anybody else have any feed back it would be greatly appreciated.
DavidPurpleKissParticipant@purplekissJoin Date: 2003Post Count: 580
I have never bought in Kalg but live in WA and have investigated the market several times.
What I have found is that when resources and doing well so does Kalg. When resources are not doing so great then often you’ll need to reduce rents to get tenants or you’ll ahve periods where the property is not ntenanted and the porperty doen’st appreciate duirng these times. However, if you’re holding for the long term then the good times probably outwiegh the “not so good” times. When it comes to selling though, you’ll want to do that in a “good time”.
I don’t believe prices drop in the bad times but often houses sit on the market for a long time without growth in the bad times.
It could be a good place to invest, just go in with your eyes open and be open to considering who rents the type of property you’re looking at. If it’s suitable for single accomodation only and the resources boom busts then who do you rent it to? On the other hand if you buy a unit or house then perhaps you can tap into the family market or something, rent may not be as high as renting to the miners during the good times but it gives more options. It’s only a suggestion, you need to make up your own mind on this.