I have read in property magazines and also have been told by various property investors that tas is experiencing a boom in the residential property market.. with positive cash flow and solid capital growth… I am seriously considering buying a residential property there.
Could anyone who has had experience in tas property advise me which areas to look for and what should one be paying for an average 3 bedroom house/ unit close to major towns.Before doing anything, I’d be asking myself whether the capital growth is being driven by the fundamentals of population growth/household formation or due to transient demand from mainland investors.
If the latter, consider where your future supply of tenants will come from, and given their high unemployment rate and low average incomes, how they will pay your rent.
Yes some people have done very well out of Tassie, but it might be a bit harder now than 2 years ago before the magazines got wind of it.
Before taking the plunge it might be worthwhile to look at other high-yielding areas but with positive pop growth and prospects of doing well in the future.
Peter
Thanks Peter….
I guess most of the new investors like myself, who have started buying investment properties not so long ago find it quite hard to select areas that would deliver consistent growth…without investing over $300,000.
I have bought 2 apartments in inner melbourne over the last 12 months and looking for a third property, however to get good capital growth I am aware that it has to be a house or a unit with strata title.. any suggestions where the next property boom might be…?
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