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I’ve just come back from Mackay last week (parents are cane farmers) and have seen the ads for Keswick Island. Be aware that reliable and easy access to the island is important – technically Keswick Island is not in the Whitsunday Island group (which are readily accessible via ferries from Airlie Beach/Shute Harbour, 1.5hrs drive north of Mackay). The access I saw for Keswick mentioned a 15 minute light aircraft flight. Not a big deal for owner/occupier maybe but as a renter could be a different story.
Classy beachfront/ocean view property is fetching nice money for a city with a population under 100k with a tight-ish economy.. struggling sugar industry. (The ads I’ve seen have ranged from 400k-1mil). It was interesting over Christmas to see the locals up there all abuzz with talk of property prices, 2 years after it hit us in Sydney, when previously it was never given a second thought.
I think there’s CG potential on Keswick but do your due diligence and check on the holiday/owner occupier side of things. Also have a look at Hamilton Island real estate (sorry can’t remember who the agency is) to give you a general ‘island’ land benchmark. Newish apartments there are going for about 350k++
Good luck, Mackay is a lovely area.
That’s my 2 cents!
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Cheers
KimThanks for those links (and the first list). We’ve recently bought in the Hawkesbury, and have also heard ‘hot tips’ since then that our suburb is expected to go through the roof. I’m not entirely sure given the cooling market, that it will happen this cycle, but its certainly one of the few Sydney regions that is hovering under the median house price. Its a beautiful place to live: no smog, lots of space and 1hr and a bit to the city. Come on over everyone – I’d like some more equity in my house!![
]Rickyw, I agree with Redwing. We took the leap and bought our PPOR (in Sydney) and got it under value. I haven’t lived at home since I was 13 (boarding school, interstate for uni and now Sydney – originally from Nth Qld) so I was craving a little stability and a patch of dirt to call mine. I think when you’re younger (I’m just 23) there’s a huge pull to get out and prove yourself (that’s how I feel anyway[
]). But we decided at the end of the day we both wanted something that was ours. The rest will come with patience and perseverance…no right or wrong answer, get yourself a PPOR if it feels right. If you want that IP, get it instead! []Hi everyone! I’m a newbie but have been following the threads with great interest. My partner and I have just bought our first PPOR in Sydney [
] at almost 10% undervalue (anxious vendors and a relatively untapped suburb). We’re now sitting tight and watching the market, although not by choice! Champing at the bit to get going… We only settled 1 month ago and have just had 2 other similar houses in our street go up with different agents for 70k more than we paid. So we’re excited and dreaming about that LOC and the equity in our PPOR – we’re aiming that in the next 12-24m we’ll be ready to make our move towards financial freedom!
Keep the good advice coming guys, I’m loving the learning!Cheers
Kim
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