Does anyone have investing experience in Gagebrook TAS? There has been quite a negative feel towards the suburb over the past few years due to crime rates and it being at the bottom end of the socio-economic scale. I am curious as to whether that is still continuing or whether the standard of the tenants has been lifted in the area?
During the last 3 years there has been a 26% growth in house prices with an average annual over the last 10 years of 12.8%. Considering the socio economical factors which are much the same as you described, and demographics and the fact that it has had a growth spike in recent years, this is one I would stay away form personally.
http://www.realestate.com.au/property-unit-tas-gagebrook-106892093
I watched the link above for a while. I didn't buy but it's under contract now. What are people's thoughts on it as an IP?
I didn't buy because I couldn't come to terms with the area. Googling Gagebrook brings up "Gagebrook shooting" where one of the residents let loose with a shotgun on a vehicle on the exact same street!
onthemoney wrote:During the last 3 years there has been a 26% growth in house prices with an average annual over the last 10 years of 12.8%.Wouldn't this therefore make it a good area to invest in as the numbers stack up very well? great capital growth, good rental yield.
Remembering of course that you are not going to be the one to live there. You will of course have building and landlord insurance as well for the unforeseen crap that might occur.
House Call wrote:onthemoney wrote:During the last 3 years there has been a 26% growth in house prices with an average annual over the last 10 years of 12.8%.Wouldn't this therefore make it a good area to invest in as the numbers stack up very well? great capital growth, good rental yield.
Remembering of course that you are not going to be the one to live there. You will of course have building and landlord insurance as well for the unforeseen crap that might occur.
It could also possibly indicate that the area has made it’s run. The growth figures look impressive but the area is coming of a relatively low base – so even a small increase year to year can make the percentages look good.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone MeMortgage Broker assisting clients Australia wide Email: [email protected]
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