Forum Replies Created
Hi,
I work as a building rep in that area and there is still so much development & inferstructure to go into it. You sit this one out for a while and it will turn to gold. There are 20,000 people to move to the Gold Coast area within the next 12 months, add to this the developement of that area and the fact that the land is running out. You have a good invesment. Developers will sell new 3 bed houses for over 400k this year if they arent allready. There are big increases in the cost of building coming and this will have a big affect on prices in your area. Stick it out it will be worth it.
In saying that, the days of a 30% gain in a year are gone in SE QLD, Addordability has caught up. You will find that you have done fine in the two year period. Hold on for 5 and you will see a nice gain also your allready heathly rental yeild will improve further in the comming months. Check with your agent to insure you are still receiving the market rate.
Rick…..In my veiw the Bowen Basin is hot. You wont get 30% growth in Brisbane again. I wouldnt sell if i was in the market. Id use the equity to purchase a cheaper place in SE QLD growth coridor. I am trying to consider myself wether to invest up there or buy in SE QLD. My Concern is i have missed the boat. 18months ago I had the oppertunity to buy a 1/2 acre block on the beach at Horse Shoe for 460k. I didnt and now im kicking myslef. (I prefered house and land investment) Just comming back to the market now, it would be worth over 650k, maybe more. Some are going for a mill down there!
Would you invest in Bowen itself or Elswhere? I consdider Mackay to be a safer invetment?Any recomendations?
Thanks
RickHi,
I am now looking at Morayfeild and Surfers Paradise. I am currently in the process on reasearching the forcasts for the Surfers Paradise areas. Particuarly small one bedroom appartments with water veiws. There are still some available under 400k. They have really impressve yeilds also. One I have come accross is 100m from the beach with water views @ 365k renting for $310 per week. With 20,000 new people forcast to stream to the Gold Coast in the next 12 months water veiw investments under 450k will have to disapear wont they?
My problem is (A good problem to have) I purchased a IP in Elwood close to Melbourne back in July. I got it for what I estimate to be about $20,000 under market value. Looking at what is for sale now in the area of simmalar quality I beleive it has appriciated approximatly 15% on the bank valuation of 335K leaving it in the 380-390k mark. Bringing me to the debate of which areas will see the best growth and wether to stick with this investment or take a quick profit and move on? My original intention was to have this property for a 5 year period with a look to off loading it at around 460-80K
I beleive Melbourne will face affordability issues which will effect price growth. I can afford to buy the Surfers Paradise appartment and hold both properties only for 6-8 months, in which case I can take a profit on the Elwood property and keep the Surfers Paradise Property for further increases in price.
Does anyone have any experiance investing in High Dencity Apartments? What kind of capital gains are available and how would they differ from your standard residential unit or house? Keeping in mind water views would be present and rental yeild is good.
Rental Yeild on the Gold Coast is also much higher than most Melbourne Suburbs although this is begining to change.
Look forward to hearing from you all.
Thanks
Rick
