Forum Replies Created
Look at the lower end below £300k. Like Simang says, anything over £400k and you might as well buy a new one -negative cash flow. NRAS has nothing to do with it. Those properties are in less desirable areas like Condon, Rasmussen and Kelso. Your best bet for positive cash are Annandale, Aitkenvale, Douglas and Cranbrook (riverside of Ross River rd not the other side that heads into Vincent/Kirwan). You want your IP as close as possible to the Hospital, Army barracks and University. You get good decent people – normally a transient workforce in the areas because it is close to work. They will normally stay for 2 years before either moving away or buying themselves in the 450+ range.
At under £300k the only way is up really!!!!
I have one in Cranbrook at went up by 4% in a year. Townsville is about to get a new “competent” mayor that I pro business and the federal government is doing something about the high insurance rate in North Queensland. All things considered, I’m happy I’ve got two up there.
Key is to be close to the hospital, Uni and Army barracks
Be careful of insurance cost and rates in this regional area. On a $260,000 house you will pay around $3,000 annually and rates are around the same. That’s $6,000 before you even get started! Insurance for flats/apartment is even higher. The government has put a taskforce together to try and workout how to address the unsustainable insurance levels in the region. MOST INSURERS WON’T TOUCH THIS AREA DUE TO CYCLONES!
