G'day again…
Is Tassie that bad? I have read quite a few books and plenty of magazine articles and internet articles and the focus on investment properties seems to skip over tasmania. I have 2 IPs that I am happy with but wondering whether I should look elsewhere for the 3rd property? I love Tassie and plenty of people do, so can I afford to buy a 3rd IP in Tassie? Any help from Taswegians or people with IPs in Tassie would be great…cheers
tuggerwaughYour the one that said that Tassie is bad that might be the way you feel about the place not everyone else. I have been down a few times love the place to death could I live there, maybe not just yet reminds me of the home country in Scotland . I am quite close with an ex Federal MP (no names) who is now involved in state politics down there and they think the place is a goer what else could they say. What about gunns has that been good for Georgetown I know that there is a water problems in Tassie beleive it or not , the company I work for will be approaching the govt to help them with there water distribution needs which will bring employment and tenants. Judging by the way lifestyle trends are going with the retirement set, greenys, eco tourists et al Tassie will be attractive in the long term as a lifestyle place and will eventully be include in the map of Australia. Having said all that I am sticking to SEQ for IP's.
Hi Guys,
I live in Hobart now, however George Town is my home town,
I have never seen the town so divided as they are now over the pulp mill. I know the RE Agents in the town are flat out at the moment with all the interstate enquiry.
Cheers,
PeteNope. Prices are not really much less in Taswegia now than the 'mainland'. Growth is 'steady' – what else do you need I reckon. I think you will find some of the problem is not much sales data has really been available for Tassie, making it hard to know what really is going on over there. .A lot of the guys like rp data (could have changed since I last looked) don't do tassie post codes I notice. It was great when API magazine started including Tassie in the house and unit price date every few months.Last months had one. One of the few places you can get the info. The REIT has a bit of guff 'for sale' but it is very generalised.
All the best.
CheersI'm not saying Tassie is bad at all… I am originally from Tassie and plan to return there in the next 3-4 years to settle down. The properties I have bought sold approx 6 years ago for about half of what I paid and the suburbs, Sandy Bay and Kingston Beach, are continuing to show steady growth. I'm sure the more publicity Tassie gets the better it will become for the investors. Cheers
tuggerwaugh
Good point v8ghia.
I think Tassie gets left off the map in a lot of things. A lot of reports you see on TV rarely include Tassie.
RPData still don't have Tassie postcodes.
Tuggerwaugh, I don't think you will go too far wrong investing in Tassie. I'm doing nearly all my investing here and I'm quite confident that the market's going to hold up quite well.
One website that is great for past sales, title info etc in Tassie is http://www.thelist.tas.gov.au
Terry Ryder used to have a report on hotspotting.com.au featuring the 10 top Tassie spots. I don't think it's there any more.
Cheers,
Pete
Good one Pete…
I love Tassie and I would prefer to do as much investing there as possible as it is my home state and I think there are some great suburbs in and around Hobart that should perform well. I had a look at the REIT report yesterday for June 2007 and things look like they are still going strong but then reading Michael Yardneys book tells me to invest anywhere but Tassie…. think i'll stick with the heart on this one…cheers
Hi Tuggerwaugh,
Sandy Bay is blue chip so you should always get steady growth there and due to the uni you should never have problens getting it rented. I used to have a 1 bedroom unit in Battery Point and found the best time to rent it out was in January when all the students were looking for accommodation.
Kingston & Kingston Beach are going crazy at the moment. There is so much development there. Again I think there is a lot or room for growth.
Cheers,
PeteGood one Pete…. the sandy bay property is in quayle street so it neighbours battery point and the kingston house overlooks the beach and derwent…. where are your investment properties? Are there any other good suburbs that you are prediciting to do well over the next 5-10 years? Those REIT reports are sometimes dodgy because they are based on a minimum of 3 properties being sold so the capital growth can be good on those suburbs… but it is only based on such a small number of properties being sold. cheers
tuggerwaughI have some acres down there and I love the place, only visiting in January this year. It has growth written all over it, especially Hobart if you can still buy cheap…
Hi Andy,
I think I talked to you on Somersoft and mentioned we had bought Miles Mini Storage.
We are in Hobart. Where abouts is your land?
Regards,
PetePete&Jackie wrote:Hi Andy,I think I talked to you on Somersoft and mentioned we had bought Miles Mini Storage.
We are in Hobart. Where abouts is your land?
Regards,
PeteWow..thats a bit of a coincidence…the land is in New Norfolk (well, Lachlan to be exact…) about 7 minutes from town…hoping that the 30/40min commute to the CBD, or the 20min or so to Glenorchy will be a selling point in 20 years or so….
No doubt that Tassie is beautiful. I love place. In terms of investing however it is worth considering the future population growth and therefore the demand that creates for housing. Bureau of Statistics suggests Tassie is not a growth area. it is worth checking out these statistics at the BOS to assist you in making your decision.
Can you elaborate how the BOS "suggests" no growth?
tuggerwaugh wrote:Good one Pete…. the sandy bay property is in quayle street so it neighbours battery point and the kingston house overlooks the beach and derwent…. where are your investment properties? Are there any other good suburbs that you are prediciting to do well over the next 5-10 years? Those REIT reports are sometimes dodgy because they are based on a minimum of 3 properties being sold so the capital growth can be good on those suburbs… but it is only based on such a small number of properties being sold. cheers
tuggerwaughHi Tuggerwaugh,
The unit I sold was in Bath St at Battery Point. I bought it in 1995 when I first moved to Hobart for $56000. Off street parking and views of the Casino and yacht club. Sold it last year for $210000. We have a rental in Lindisfarne with DA for 2 units on the back, a house in Mowbray with DA for subdividing 820m2 off the back, some land in Sorell and Glebe Hill where we plan to build some houses/ units, and a couple in Queensland.
George Town (my home town) in the north could be worth a look due to the nearby pulp mill being approved. Sorell and Brighton are both quite fast growing municipalities. That is one of the reasons we have bouth the land at Sorell.Andy,
Keep an eye on my storage sheds for me! We are renting them out through Peter Vowles Real Estate. They have been really good to deal with. We have a few empty at the moment. Any suggestions who we can target to fill the sheds up?I know Lachlan, I finished a house off at New Norfolk and sold it earlier this year. Very pretty spot.
Cheers,
Pete
G'day Pete…
Yeah I would love to get into the land and building aspect of investment but having bought our first 2 IP this year I think I've still got a lot to learn before I venture off down the track of buying land and building units/townhouses. My parents have just given me a 3000m2 block of land in Geilston Bay so hoping to build our PPOR there and maybe down the track look to subdivide or sell off as a potential development block. Like the idea of Sorrel as it is a bit of a gateway to the east coast. cheers
tugger
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