This title is taken directly from Jennifer Mead’s article in this week’s BRW. For anyone thinking about investing there, have a read. Also read John Stensholt article in the same magazine for a different perspective. Very confusing, to say the least.
I think this was a week or two ago and basically yep aussierogue (sounds like a spoof of Crocodile Hunter [] you are spot on. I recall there were comments like Melbournites paying $300K for inner city units with high vacancies that are worth much less etc. Ouch.
Friends bought in the 1-2 hours outside hobart range 6 months ago and have done really well though so again it’s just a case of doing your homework.
Good guess, aussierouge.Basically the 1st article stated Tasmania’s population has declined from 4.5% in 1901 to 2.4% now. Over the past 15 years, Hobart has recorded the lowest rise in residential property prices – less than 1% than any other capital cities. Also population trend is to move towards the warmer areas.
The second article estimate 1/3 of sales being from the mainland. Annual yields of bet 8% – 10% being the major attraction. Everything in Tasmania is good value!!!!!
It’s 25 deg C in Brisbane [][], and I’m about to take my mutts for a walk in the park with all the ex-Tasmanians wearing, you guessed it, shorts and T, then come home and prep for novice property investing group meet at our house tonight with Tassie investors I mentioned, might have more tomorrow on their deals … !!
Re margins, totally agree after reading about 3/4 of Steve’s book so far today, happily aiming for the stars at 20% on residential and 30% on commercial … now where did I put the keys to the Landcruiser …!
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See ya,
Mel
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