All Topics / Help Needed! / South Kempsey and By pass

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  • Profile photo of lpool05lpool05
    Member
    @lpool05
    Join Date: 2007
    Post Count: 7
    April 5, 2011 - 11:58 pm

    Hi Guys,

    I am looking to buy a property in regional town. Obviously this been my first regional town buy, I hear a lot of negative sides of buying in regional town.
    I have been looking closely at South Kempsey and Kempsey generally.

    Currently there isnt a property to buy below $125k and there isnt any property available for rent for even @ $350 per week in South Kempsey. This is really surprising me. 

    1: Is this because of the bypass project which is currently happening?
    2: Is there such a demand for rental in South kempsey.
    3: Will the demand remain when the project finishes.
    4: Does anyone see growth in the town.
    5: Is kempsey bypass a positive.

    I know there are some street which are really bad but even they are not seeing high vacancy. The yeild is strong. One could look at more than 10%. Populate is aorund 28000 which means the town isnt going to disappear. It is a major hub for other regional towns.

    What do you guys think? Would it be wise to buy a property in South Kempsey?

    Profile photo of muzzermuzzer
    Member
    @muzzer
    Join Date: 2011
    Post Count: 1
    June 9, 2011 - 5:45 am

    i have really been thinking of this area too i have a mate that owns one in west kempsey, he said they will go up with the bypass
    he is also looking for another 1 in this area

    myself im looking to buy another property but im looking for a positive geared as the interest rates are bad for cash flow

    Profile photo of JPCCMJPCCM
    Member
    @jpccm
    Join Date: 2010
    Post Count: 42
    June 11, 2011 - 5:41 am

    I know of 1 person, that owns a fair bit of property and makes a huge return and bought some under $50,000. Your not researching or investigating hard or far enough.

    Ive found properties in St. Claire and North St. Marys, that are under $170,000. And probably cheaper.

    Profile photo of DolamootDolamoot
    Participant
    @dorrace
    Join Date: 2016
    Post Count: 17
    February 7, 2016 - 11:55 pm

    Oh lord I’m looking at the dates on these, if only it was still the case nothing under 400 in at marys or anywhere around there unless it’s close to housing commission. Right now kempsey looks promising I’m buying something there this week.

Viewing 4 posts - 1 through 4 (of 4 total)