Buying frenzy in Rockie...... - PropertyInvesting.com

Viewing 9 posts - 1 through 9 (of 9 total)

Alwayslearning
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@alwayslearning
Join Date: 2003
Post Count: 44
November 27, 2003 - 2:05 pm
[]Try and get hold of cheap property in Rockhampton the agents are hard pressed to find stock for investors up there ….
Years in the doldrums it seems that investors are finnding good pickings as rent yeilds are quite high 8% plus not only that vacancy rates are a low 3 to 4%
So while negative sentiment kicks in the inner city apartments in the south and auction clearances drastically drop. Queensland towns like Rocckhampton Harvey bay Gladstone Warwick Bundaberg cairns Yeppoon are enjoying exciting activity
riffraff
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@riffraff
Join Date: 2003
Post Count: 68
November 28, 2003 - 12:32 am
If the agents cant get enough properties listed would that not make it harder to get a good price?
ie. heavy demand = sellers market
over supply = buyers market
What the mind of man can conceive and believe, it can achieve.
richmond
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@richmond
Join Date: 2003
Post Count: 831
November 28, 2003 - 12:47 am
You could get yields of 12% or more for decent places in Rocky only 6 months ago… are you talking up Rocky cos you’ve just bought there alwayslearning?
r
Erika
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@erika
Join Date: 2002
Post Count: 151
November 28, 2003 - 3:08 am
Hi All
I always thought a vacancy rate of 4% is getting on the high side. If Rocky is low at 3-4% what is it normally
Erika
Alwayslearning
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@alwayslearning
Join Date: 2003
Post Count: 44
November 28, 2003 - 1:39 pm
quote:
You could get yields of 12% or more for decent places in Rocky only 6 months ago… are you talking up Rocky cos you’ve just bought there alwayslearning?
r
WISH I COULD HAVE GOT IN AT 12% YEILD RICHMOND I ENJOYED YOUR RECENT STATS ON ROCKIE AND YES I HAVE BOUGHT THEIR MYSELF AND SO HAVE SOME OF MY ASSOCIATES
STILL THERE ARE BARGAINS AROUND IF YOU ARE PREPARED TO LOOK FOR THEM YEPPOON IS 30MINS AWAY GATEWAY TO KEPPLE ISLAND
I HOPE SOMEONELSE HERE GETS A BARGAIN
uncivilized
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@uncivilized
Join Date: 2003
Post Count: 38
November 28, 2003 - 1:55 pm
I have just had my offer for a property in rocky accepted. It is my first property purchase. My investment has a rental yield of between 6-7%, a little low, however I am happy . My property is not one of lower price ranged properties available in rocky, as I felt uncomfortable purchasing my first property at lower price range. It is more in the mid price range.
I spoke to one property manager in rocky, who advised that it is taking between 2-4 weeks to lease out rental properties, and this time of the year is the quiet period, however it should pick up after christmas.
If you look at my “termite” topic , I have a big decision to make whether I will proceed with the sale.
matt
mcollins
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@mcollins
Join Date: 2003
Post Count: 58
November 28, 2003 - 6:16 pm
Did you buy the hiuse in Abercadabre for $75,000 ?
wannabe2
Member
@wannabe2
Join Date: 2003
Post Count: 65
December 1, 2003 - 6:10 am
hi guys in reply to richmond i recently bought a block of units in innisfail at 12% return and there are still a few bargains available but for how much longer i’m not sure,only problem is the rates are high,but as i said returns are still good[]
Richard Taylor
Participant
@qlds007
Join Date: 2003
Post Count: 12,024
December 1, 2003 - 7:03 am
Buying a good priced IP is like anything else in business it takes time and research.
We have over 20 homes in Rockhampton and thanks to the contacts of 1 decent real estate agent are still able to find homes that meet our criteria.
Remember Rome wasn’t built in a day.
Cheers Richard
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