Hi all, let me say what an informative site this is, congratulations to the webmaster and all those that contribute. My question is has anyone invested in property at Roxby Downs ? I’m looking for my first IP, and am staggered by the apparent ROI that seems on offer at properties in Roxby. I’ve never been there but it seems the town is expanding rapidly, is there anyone that can offer some insight ?
Thanks in advance.
Ms Elvis may know the area a little I suggest you read her post on SA Mentors and email her direct.
hi
well i don’t know the area except that it is a mining town. however afer some research i can tell you that it has a population of just over 5000 and about 38% of the population rents with 30% purchasing and only 23% fully owned.
http://www.homepriceguide.com.auyou might also want to look here
http://www.roxbydowns.comhttp://www.wmc.com/sustain/olympic/social.htm
do some research and see what you come up with. sorry i can’t help you more.
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]Thanks for your advice Ms Elvis, much appreciated. I’m off to check your links out right now!! If not sooner [
]Gidday tig1961,
We have over time known people that have lived and worked in the area. There is a high turn over with ongoing mine shutdowns and further developement in other areas. We have also watched with interest a number of properties come onto the market recently. There seems to be more since the SA government announced the possibility of a low level radiation dump in the Roxby area. A lot of the available property is located in the caravan park. They then operate as a caretaker facility for your building etc. If you go this way watch out for the fees as they don’t apply a percentage of rent for management but usually it is a fixed fee per week. This could be as high as 25% of your gross return. Do lots of homework.
Good luck,,,Spider /
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/Hi tig,
Becareful, some basic fundamentals for consideration when making your decision where to invest. Remember Broken Hill was a mining town that is now slowly dying. It is extremely risky investing in towns where there is only one source of employment in this case its the Roxby Down mine which is in the middle of no where, what happens if the mine closes the town ceases to exist, not that I’m suggesting that it will close in the near future. A good rule of thumb to stick to is dont invest in towns that have less than 15,000 population and or rely on one industry alone for its employment, and leverage of the companies who are experts in determining current and future demographics such as McDonalds, KFC and shopping centre developers as they have done extensive due dilligence before they invest their money in areas.
Hope this helps
Regards
Johnd
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