What are the current thoughts on Kalgoorlie?
It seems to have reasonable prices with good rental returns.Is it a good choice for my first investment property or am I better off spending a bit more and going more metropolitan?
Thanks
RLHi I have a friend who lives in Kalgoorlie and they have had massive growth in their house (as with all WA) and it is a booming area. As long as mining is booming it would be a good move I think
Therese
Hey Red,
I currently have a few property’s out here and the growth of late has been quite good. If you are seriously looking at purchasing in Kal I would recommend a 4 by 2 as currently there is not too many available for rent. Also look at buying in Hannans or Lamington.
ps i live in Kal[cigar]David
Hi David,
I’ve been looking at Kal for a few weeks now and was glad to find your post. I have had a bit of trouble finding a dedicated property manager out there as most just want to sell to the booming market. Do you use a property manager?
I’ve also seen a few commercial properties out there for sale. Have you noticed many vacant commercial properties and if so do you think it is because of an oversupply or just investors taking profits?
I’d love to hear a locals point of view.
Cheers
Mark“Be a Meaningful Specific rather that a Wandering Generality”
Hello – This is my first post (horah!). The signs with WA, particularly with areas inflated by the mining activity are tipped to have a down turn at some stage. BS Shapnel / residex etc info.
Hello all,
I am also currently looking at Kalgoorlie and surrounds for an I.P. and, as this would be my first venture out of Vic, I would like to know streets /areas to avoid if possible and if units or houses are more in demand as rentals. ?
There seems to be alot of “for sale” properties available, would like to know if rentals are easy to let, or if long vacancies are common. ?Any info. from other investors or locals would be appreciated.
Looking at low maintence, not a “reno” because of distance.Thanks,
Feet first.[cowboy2]
As an ex Kalgoorlie resident and an investor….
Avoid:
Boulder
Victory Heights
SomervileBuy:
Central Kalgoorlie
Lamington
HannansUnits are more in demand as shift workers dont want a yard to look after. Helps to be dog friendly as many tenants have a dog and you would prefer they told you than they lied.
Happy to answer any other questions you have.
I own 2 properties in Kalgoorlie/Boulder. The first one (in Boulder) comprises a 3 bedroom house + separate 2 bedroom granny flat. It cost me $188k last year and rents for $385/week. I just told the agent to get me something that returned 10% and that’s what she turned up. This is my best returning residential property. I also bought a commercial property in Kalgoorlie. It has 2 units and cost me $280k last year. I had some hiccups getting a second tenant, but it now rents for $675/week. If you are looking for a straight forward subdivision/development project, there are plenty of good value quarter acre blocks in Boulder that you can do a simple subdivision with and put a 2 storey unit or duplex on the back (I am currently doing that with a property in Tasmania (believe it or not).
Paul
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