Hi I would like to find out where most people obtain their research such as population trends, rental expectations and future growth aswell as previous growth recordings. At the moment my research provides pretty limited info. If anyone can suggest a websight or publication that would help please let me know. At the moment Im looking at Geraldton WA which is 500k north of Perth but has very good rental returns. I just want to make sure Im not setting myself up for a loss…[
]benno,
go to google.com and type in “geraldton population” and go to “australia only” site. thentype in “geraldton rental” or geraldton median value” or whatever. Think of every combination of words for things you want to know. You could just type in “geraldton” and everything written about the place will come up. There’s no quick answer to these things. you probably have to spend hours trawling the net to read up all you want to know.
kay henry
That reminds me that a service like Residex is worthwhile to subscribe to.
They publish reports and, yes, there is a charge for them.
Go and have a look at http://www.residex.com.au/
Cheers,
Pisces133
Hey Benno
Myself, PeterP and a few others have been briefly talking about Gero on one of the other pages, check it out if you want to it may help a bit.
https://www.propertyinvesting.com/forum/topic.asp?TOPIC_ID=6098
Scott
“Together we combine our strengths and eliminate our weaknesses”
Hi Benno,
I have just returned home from
geraldton, (2 hours ago ) and yes i did come home with 2 more investment properties. You need to be quick as everything seems to be sold as soon as it hits the market. The government is spending a lot of money on the foreshore and removing the eye sore railway line ,and im told also there putting a artificial reef at mohamets and knocking down some of the sand dunes for ocean views. I bought 2 ex state housing commissions in rangeway and spalding for 63000 and 76500 . Both 3×1 and have been fully revamped .Positive gearing houses are very scarce there now as investors have been in and i know of one invester that bought 24 properties and another bought 19 so rental demand has fallen . Still a few in spalding and rangeway but you had better hurry, the prices are rising so fast its unbelievable. Both these areas are known as the less desirable areas , but if its positive gearing your after there isnt much choice, desirable areas such as bluff point, sunset etc getting to exspensive for any good pos return. Hope this helps , and here is a link to a lot of info including houses for sale in Geraldton. http://www.realestatehouse.com.au/frame.htmPeter M: For Geraldton I got a list of recent sales for $22 from http://www.dola.wa.gov.au/corporate.nsf
It’s called ‘Data evidence’. You can get it faxed for $14 or emailed for $22. The fax has 70 properties, the email version 110 sales.
Definitely money well spent!
Risky: Very interesting on sales moving quickly.
While I was phoning things seemed slow. You’d phone at 4:30 or 4:50pm and found they’d knocked off for the day!
My duplex half in Bluff Point was on the market for 2 mths for $82k before I got it for $78.5k in early September. I’m only getting 8.3% rtn, so it’s no great cash cow but other aspects like location and tenantability were appealing.
Just curious re the likely rental yields in Rangeway now. When I was looking a few months back, I was going on $90-100pw for a 2br villa and $120-140pw for a house, ie a return of around 9%. I probably wouldn’t accept 9% in an area like Rangeway, but it sounds as if even getting that would be a battle.
Also do you know if the big investors you mentioned were buy & hold or wrappers?
Regards, Peter
Hi benno,
Have a look at this site A.B.S
http://www.abs.gov.au
Regards Steven[email protected]
http://www.mobilemortgagemarket.com.au
Ph:0402483216
Victoria>>It’s called ‘Data evidence’. You can get it faxed for $14 or emailed for $22. The fax has 70 properties, the email version 110 sales.<<
UNfortunately it isn’t quite as straightforward as that as, more likely than not, the sales are reported perhaps as much as two months late.
It takes time for a sale to settle and for the sale to be entered into the sales book at council so there is normally a two months lag between the time the contract was entered into and the toime the sale appears in either council’s sales book or the land title’s records.
Pisces133
HI PeterP , not sure if its previously youve been ringing but im talking only of the last 8 weeks that
geraldton has been moving, just check the realestate.com and see 80% of houses under 130000 are under offer, Not sure of the system the large investers are using, but fairly sure its not wrapping. Probably buy and hold my guess, will be interesting to see how the market goes in the next 6 months. Im hoping to get 120-130 pw in rangeway and about the same in spalding.Giving me app 10 % return , not to high but getting hard to find positive investments with a chance of cap gain.Risky – I did my ringing around July/August and was there in early September.
When I was there a buyer had bought about 20 cheap houses <$70k, and I bumped into property investors in the tourist bureau and library.
So it seems the bottom end of the market started moving first, and the interest is now moving towards middle-priced properties.
Peter
Sorry about the long delay to respond Peter P but i can never remember what posts ive posted in (such a busy forum it changes hourly) . Yes your defiantely right about the lower end of the market moving first. I noticed when i was there a new area called Wandina , very impressive and real nice houses being constructed with most overlooking the ocean . Land is still reasonably cheap with ocean views. I could see Wandina being a sort after area when it gets a little more developed. Geraldton Just needs a little more industy to get the population increasing.
]
You must be logged in to reply to this topic. If you don't have an account, you can register here.
