All Topics / Help Needed! / API MAGAZINE FIGURES

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  • Profile photo of as41as41
    Participant
    @as41
    Join Date: 2005
    Post Count: 108
    October 31, 2006 - 4:13 am

    I everyone,

    I religiously read the API magazine monthly and belive they give out some great info. However this time they had a segment on boo towns across the nation. So I thought I would investigate rentals and IP prices and yields etc.. in these areas. One of the one i did was Armadale in Perth. API said median house price of under $200K. I could not find anything reasonable for under $300K and the rental ields seems very low. $220-250p.w for average 3br 1bath house. Am I missing something here? Either the boat has sailed or I need to do some more digging? Anyone have any experiences to share???Other boom towns they mentioned were Karratha and Newman, Ravensthorpe and Esperance….[inlove]

    OH, just out of interest, when people find an IP interstate, how do they do the finance thing. Do you have mney available vefore hand or organsie everthing from away from home?[inlove]

    Snowflake

    Profile photo of fivetalentsfivetalents
    Member
    @fivetalents
    Join Date: 2006
    Post Count: 11
    October 31, 2006 - 5:24 am

    Hi,

    In terms of Armadale, it has had a 44% capital growth in the last year, so you may have missed the boat and rents havn’t kept up.Karratha has had a high median house price for the last five years (>300K) although rents are high, so you may have missed the boat there too. As far as I know there is a shortage of housing so high rents. They may still be good places to invest as they are still growing, but not if you want a positve cashflow property. I’ve a sister in Port Hedland and the prices here are more reasonable with still high rents. You would have to research the growth there etc though. MIning is booming in WA as you probably know, so these towns are booming- what does the future hold though? I don’ t know.
    Esperance is a beautiful place , but it is a fair drive from Perth (6-7 hours)
    These are my thoughts- good luck!
    I also think some of the figures in these magazines are strange. I read one thing in the paper and another in API, and get another idea from speaking to people. I suppose it depends on where they get their data from. Sometimes it’s better to speak to locals- maybe ring some agents in the area to get a better feel.

    Therese

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