I have found some properties in a VERY rural area that meet the 11 Second Solution requirements, but have found out that the town (of just over 2000 people) is mostly retired. Does anyone know how this will affect the liklihood of long-term vacancies?
Crafty.
The question I’d be asking myself is “Are they dieing and therefore the population decreasing (meaning vacancies are likely to occur) or are there enough new retirees entering the town to keep the population stable?”
Fortune Favours the Bold.
Thanks Purplekiss,
My next question is:
Where can I go to find out if the population is increasing or decreasing?Hi Crafty and welcome to the forum
Hmmmmm i would assume the council would have same form of record, and if not ask them who has.
Regards Bear
Thanks Bear, I’ll check it out. [
]HI Crafty,
try typing the towns name in the google search and see what it brings . I find it to be a very good tool for researching small rural towns. Also try a few key words with the towns name such as population or infrastructure etc.I thought I was wrong once, but I was mistaken !
Hi Crafty
firstly, personally i wouldn’t be interested in as very rural twon that was largley retired and only (by the sound of it ) just meeting the 11 sec rule.
secondly, try the abs site http://www.abs.gov.au
regards westan
I find +ve cashflow deals in New Zealand which I sell to other investors. To be on my database send an e-mail to [email protected]
I am finding that the Australian Bureau of Statistics are now charging for a lot of their publications,
Anyone living in Sydney is however able to look at their publications in their library free of charge !!
They are (were ?) at the back of the Sydney Town Hall.
Pisces
I guess it depends on how smart these retirees are.
Dumb, if they are like a relation of mine who sold in Manly and bought in Gosford. The, now widowed, wife can no longer afford to move back to Sydney.
Smart, if they rent in the small town, keep their present house and rent it out at the higher rental.
Pisces
Hey Pisces, I’ve got a friend whose ex-mother in law (are they still mother in law if your spouse is deceased?) did exactly the same thing. Although it might not have been Manly, but it certainly rings a bell. Thankfully I think she’s happy enough up there – her son followed her up there anyway so that he could continue to scavenge.
The further she stays away from Canberra the better[}
]Cheers
MelDoes anyone know… with the ‘older generation’ are they more likely to rent, or, are they more likely to ‘purchase’ in the area they move to ?? does an older populatuion mean less or more Tenant base ?? HMM
REDWING
“The man that thinks at 5o as he did when he was 20 has wasted 30 years of his life”
Interesting question Redwing.
Anybody that I know who’s ‘retiring’ to other than where they live have generally been selling up in one place, to buy their retirement home. Although that is not to say that ‘everybody’ is doing that, just those that I know.
I think it’s the older generation who really believe in owning your own home, and tend to instil that belief in the younger ones coming through.
Cheers
Mel
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