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I’ve always been a believer that one should visit the area that you intend to invest in.
Poor ‘Launceston’ never seen it spelt soooo bad.Bit in all seriousness, Tasmania is a great place to invest for rental returns. If your after capital gains then Tassie isn’t the place for you.
Queenstown is on the West Coast and is very remote and isolated but, a lot of 1st yr teachers get posted to Queenstown for about 3 years and are usually given full time jobs for their efforts (they rarely want to call Queenstown home) Property values haven’t increased in that area for quite sometime.
Hobart and Launceston are the best city’s to invest in, then Devonport and Burnie.
Knowledge of the suburbs is a must. The area size are simular to Ballart in Vic or Parramatta in Sydney. The difference with gaining a great property with decent tenants is just a matter of one street and you could place yourself in an unfavourable area eg. Housing commission.
There are plans to develop Burnie and make it more appealing, it’s a industrial area with a sea port for tankers etc.You have just missed the huge capital gains of the last 2 yrs. Property in Tassie has just started to slow. This growth was very out of the norm and was just a follow on from the other States. 2 yrs ago, it was nearly unheard of for a property to be over $200,000 and could purchase a family home with everything you could think of for $150,000
Good luck in your search and like any investment, do you research – flights to Tassie are cheap these days!!
Yuck.. Wolli Creek is just that. A swampy marsh that smells. Knowing the type of culture of the area, it’s like mutton dressed up as lamb. Crime rate isn’t that fantastic either.
The people in the area can only afford suburban rental prices and these units are priced for inner city living? sum don’t add up.
However, there are great plans to have the area cleaned up and shops in place (not to mention a few more units, which are already blocking others peoples views). Once this happens the status of the area may lift and professionals may be interested in living in the area.
People do use the parklands (even in it’s current stinky state) Maybe you could use the ‘bad’ points to talk down the price or wait intil one comes up 2nd hand?
