I am hoping to invest in rural Queensland and I have been looking at Kingaroy as I want to spend under $250,000 and have a good rental return. Does anybody out there have an opinion about Kingaroy or any other rural town in Queensland.
uaic3 wrote:I am hoping to invest in rural Queensland and I have been looking at Kingaroy as I want to spend under $250,000 and have a good rental return. Does anybody out there have an opinion about Kingaroy or any other rural town in Queensland.kingaroy is a fairly rural town ,well set out with all the basic services ,only thing that i think is a drawback is it has one major employer and that is swickers abbatoir .tarong powerhouse also employs a lot of people .good base wage town .you could pick up a fairly decent house for your $250,000 and if it was in some of the better class areas get a decent rental return
Thanks Tony. I am also considering Toowoomba as an option as there seems to be a few houses there that are in the same price bracket and potential return. What do you think about Toowoomba?
uaic3 wrote:Thanks Tony. I am also considering Toowoomba as an option as there seems to be a few houses there that are in the same price bracket and potential return. What do you think about Toowoomba?toowoomba is a completly different kettle of fish ,going back 8 months the place was dying from lack of water .now a pipeline has been connected from wivenhoe dam and their dams are up to 18 percent full/empty .a bit better outlook for toowoomba and still good quality buys to be had
ohh and its Tom
Thanks Tom (and I am so sorry !!)
Three big drivers for Kingaroy:
$1 billion wind farm
$500mil Kunioon coal mine
UCG project and 400mw power station
It has averaged 12% growth per annum for the last 10 years, vacancy rate around 2%
Hi uaic3,
Kingaroy is a lovely town not overly far from our base (farm at Kilkivan but we make a crust as Builders, mainly in Gympie, and property investors both in SE Qld and interstate). I myself have only been in Qld for 2 years, my partner has been here about 6. Having heard some of the hype around Kingaroy I spent some time researching, talking to local real estate agents and property owners and at this stage decided it seems in between, ie., has had some good growth to about 2008, seems to be currently stable and in the longer term further upside but to us there are currently more attractive areas to invest. I look for towns with in excess of 15,000people currently, multiple industries, proximity to both commerical and lifestyle facilities – ie., close to options for people to work and the coast.
Kingaroy isn't completely off our radar but with land prices more expensive than larger towns closer to the coast with multiple industries – I think we may have missed the boat for now. ie., by the time a place is nominated as a 'hot spot' it has possibly already had its most substantial growth for some time.
There does seem to be some undervaluing in the established properties in central Kingaroy on large blocks where you may have the option to develop further (ie., check with council about the options of second dwelling and obs corner blocks could be more attractive for this).
Kind regards
Meg
You must be logged in to reply to this topic. If you don't have an account, you can register here.
