What’s going on with this place ??
the whole town appears up for sale!
Always there on realestate.com.au ‘and’ in the local papers, i had a look at the town, the places for sale are primarily fibro/tin houses ‘very’ old, the town is reliant on the coal and power station.A local i spoke to was also selling and leaving as no work/ oppurtunities for his daughter who had just finished High School.
On the positive its a beautful area, not to far from Bunbury, Australind and the coast and a lot of the locals have been building ‘new houses’ ( probally with the cash from investors coming in)
Population 9000
We left without making a purchase due to too many ‘what-ifs’ with the area- not the prices
Anyone else been an seen ??
REDWING
“The man that thinks at 5o as he did when he was 20 has wasted 30 years of his life”
My sister in law works in real estate in Bunbry and said over a 3 month period it just went beserk at Collie, there were +ve properties there and people became aware of it and it just boomed. Was front page news in the local Bunbury paper recently, the coastal location has attracted a few people who couldn’t afford Bunbury prices. HG
I was there once some years ago as a guest for their ANZAC Day ceremony. It was a friendly and pretty little town.
I also have a client who bought several properties there some months ago who raved about the place.
Cheers,
Simon Macks
Mortgage Broker
[email protected]
0425 228 985Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
My sister in law works in real estate in Bunbry and said over a 3 month period it just went beserk at Collie, there were +ve properties there and people became aware of it and it just boomed. Was front page news in the local Bunbury paper recently, the coastal location has attracted a few people who couldn’t afford Bunbury prices. HGUnless yor talking about another ‘Collie’, in WA I do not believe it is near the coast. More like 45 min drive.
We looked at Collie for a while too. Then decided the town was too reliant on the coal factor. Seems as though the town has reached a saturation point. Everyone has a job and a place to live and i can’t see many new job opportunities coming up. We couldn’t see anything that would inspire many people to pack up and move out there either.
C YA.Work smarter, not harder!.
Mortgage Hunter
“it is’ a nice place, large Dam nearby, not too far to the coast, i liked it, but like i say, a lot of very old properties (No depreciation?) “lots” of these properties for sale also, can’t believe there are that many tenants in the town and forsee a drop in rental $’s as the local real estate agent said a lot of outside and interstate investors had been in… pretty cluey guy, not long after TT aired and he was advertising the properties as + Geared [
]Also on my search for Ip’s i’ve noticed a few where it states “owner will rent back/ sign 6mth lease” possibly the cynic in me but i see things like this as an attempt to attract an investor to a ‘tenanted’ property, however after 6mths the owner moves out, no more tenants and the 6 month rent was built into the sale price [}
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Ya Think??REDWING
Redwing – it was 1996 when I was there and I didn’t look at real estate at all.
It isn’t the sort of place my purchasing strategy has me looking at. Just passing on my impression and my clients opinion.
By the way I am off to Lightning Ridge next week to visit my wife – will let you know what it is like there. I hear the rental market is bouyant [
]Simon Macks
Mortgage Broker
[email protected]
0425 228 985Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
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