Forum Replies Created
There is still a lot of hope for Moranbah! Have a read peoples!
Seems to me Urilla that although you have some background in the field, you may need someone to step you through the entire development and who can equip you with the information you need to then amplify this on a larger scale once you have mastered something like a duplex development. I am working with a company who is stepping me through this process for the first time in QLD and only charge a small fee for service while they can educate you in all things property developing like appraising the land, showing you the initial feaso through to timelines on the entire process that takes you through the fees like headworks, survey, strata, council permits, DA approval process, then into building quotes and do the entire management for you from start to completion. Not a bad start to your developing career when you get experts to help you through it. I am doing one in Mackay at the moment and loving it. They are the guys at Portfolio Property Investments. If you are looking for a larger developing experience then not sure.
Yes JT7 in amongst other investments. Still pretty happy with it also but like my privacy, ha ha.
Also found this link illustrating approvals within the Alpha region. This is the information that effects the short and long term viability of Emerald QLD as a place to invest. They cant house everyone required for these mines around Alpha within the campsites. Emerald will have at least 15% of these forecast workers living within the city for the next 33 years minimum.
http://news.ninemsn.com.au/national/2012/10/17/17/22/eis-released-for-qld-coal-project
The signs are looking better now out of China and with the share prices from BHP and RIO lifting substantially today, I think we are all optimistic about the potential economic stabilization currently forecast and intern increased spending by the miners in the Australian market. Great outcome for those central QLD mining areas re jobs, housing market etc!
Josh,
I would image this announcement a few days ago by the Federal Government (on the same day as BHP releases to the press that they are not proceeding with the expansion of Olympic Dam in SA) is going to continue to build interest around Emerald given the requirement to house these new workers? 4000-6000 (or more) required and min 25% living in Emerald augers well again for continued long term growth within this hub?
http://www.mineweb.com/mineweb/view/mineweb/en/page72068?oid=157534&sn=Detail&pid=102055
Hi Josh,
I have had a look at Emerald recently and seen that the rental prices have dropped from the lofty heights of $950 per week and now look like $700-$750 (which by the way is still a good rental yield).
I understand those prices may not have been attainable for a long period of time but as I am looking to buy again I am treading cautiously, so keen on your feedback. Also do you have any exclusive stock available for me at around $460K for a 3-4 bedroom house and land?
Josh,
I have been told rental prices are starting to grow already after speaking with some local estate agents.
Geting $1300 for 3 bedroom units/houses and $1600 for 4 bedrooms right now (not rented out to BMA) and the BMA strike discussions with the unions are still not resolved?
With the market demand slightly down now due to these strikes, flooding issues a while back, all coupled with the fact that families looking to sell up while the market was hot was creating an over supply of housing…… would you assume that now might be a good time to buy in a market like this before all of the strikes are completely resolved and the prices start to soar again?Wakebrownb,
Where was your first IP? If you arent in around the mining region in QLD then I think you should right now. If you can afford it get into somewhere like Emerald QLD where the yields are 7-9% and the demand is only set to continue.
# large mines opening up in the next few years in Alpha and the FIFO workers will all have revised rental support from the mining companies up to $2000 a week to rent. They will all do this in emerald as its only 100km East of Alpha so I would suggest if you want both CG and high yield for cash flow, look no further. I can recommend who you can buy through as I have done this and it has been great.michmich wrote:Hi Josh, my partner and I were about to purchase in Emerald however our insurance broker who deals in mining prop..around Qld advised us not to proceed with the purch. Insurance apparently is very high, and Emerald is extremely flood prone. Is this correct? Were you affected in the last floods? He did however say that he agreed that all the no’s def. stack up in Emerald making it a very attractive invest.
MichMichmich if I were you I would be looking to tap into the expertise of Josh and his business as I purchased a while ago in Emerald and already looking (and able) to re-invest again. He has walked me through the entire process helping me get a renter in the property and now I have re-engaged to purchase again. He has exclusive stock in Emerald that isn’t even flood affected from the heights of 2008 and 2010 floods so I’m pretty comfortable with where its at.
Not that I am expecting the current rental prices to remain as they are, but have you seen what a 4 bedroom house can fetch in the current climate in Emerald? These properties might net you yields of 6-10% depending on the timing of settlement date and if you have them furnished. They are also still pretty cheap for a large mining hub/town with 4 large projects still gearing up to be opened in and around Alpha…. so cap growth on current purchase prices is almost a dead certainty.Adrian,
As far as I can tell after speaking to some local real estate agents in Moranbah, a lot of locals are cashing in now and selling and moving to Mackay. I am in the market to buy in both Moranbah and Mackay (if I can afford both) and I am finding the prices are going up substantially in both still but especially Mackay. I was told a lot of this (outside of its natural drivers due to the 2 major ports and servicing the entire northern Bowen Basin hub) is because of this migration from the residents in Moranbah, Dysart and other smaller mining towns.
I am still convinced that Moranbah and Mackay are still good investments for the short to medium term and Mackay/Emerald in the medium to long term. Has anyone had a look at property in Emerald of late? Its almost impossible to get any decent investments there. Its like the demand has outstripped the supply and they are not producing enough residential housing to accommodate this demand.
Your thoughts on this situation Josh?
