Hi
We have the opportunity to buy in Upper Burnie Tasmania 4 units all with seperate titles. currently rented for $110 each pw. potential of $130 price is about $328,000. Wondering if this is a good area for capital growth. Does anyone know whats happeing in Burnie…have had so many different opinions….
thanks[
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JmerlsApparently Devonport and Burnie have a bit of a rental shortage at present which is strange considering the majority of purchases have been made by mainland investors in the past year.
Has seen heavy buying activity from interstate with many real estate agents having standard orders to buy anything within certain price ranges. Several interstate investors have purchased up to 30 properties each, driving a buying frenzy.
If you can buy in that price range and get a reasonable return well done, although 130pw rental sounds high for a unit unless freestanding in a v.g area with garage and private outdoor area.
I’d check with some locals as they are on the ground so to speak.
Merlo,I was in Burnie two weeks ago. Is this deal being marketed by the professionals? If it is the same property, it was listed for $280,000 two weeks ago and was a laughable deal at that price.
Burnie and Tassie has been saturated with mainlanders inflate the prices. Beware!
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