Hi all,
Has anyone looked at investing in towns close to Gladstone such as Calliope or tannum sands etc? The purchase costs are less here and the rent returns are good. But these will be the first to go if things quiet down up there. Just thought someone may have done a bit of research into these areas. Any feedback would be great – Thanks
Thommo
Hi Thommo,
youre correct, they will be the first to go. Question is, will this area ever be quite again due to mining?
I have a lot of knowledge in CQ as I have a lot of investments there and have lived in Emerald for a number of years previously.
If you follow my Blog (address below) I will be travelling and extensivelly researching all of these areas and assessing them for investment. If you have any questions just ask.
Cheers
Hi Tommo,
I work in Gladstone and live at Tannum Sands.
Gladstone, Tannum and Calliope are different property markets but feel most/all of the effects of the growth in Gladstone.
Calliope market initially grew due to locals moving out from Gladstone due to price, but also for more of a country feel and bigger blocks as Gladstone grew. Now Calliope is attracting investors as returns are great and prices are cheaper. Longer term if things dont go to plan, yes I would expect this market to tank. Also returns will pull back once supply of houses in Gladstone catches up which it will eventually, theres plenty of land available in Gladstone.
Tannum is completely different. Most Gladstone residence aspire to live at Tannum as it is only 25km from Gladstone but is on the beach, and its a quality beach too. Property in tannum has always been more expensive then in Gladstone by a fair margin, however with what is happening in Gladstone and the fact that Gladstone is the only place most investors look, prices have closed considerably, even meaning some types of property are now cheaper at Tannum/Boyne Isalnd then Gladstone.
I believe this market will always be strong, families will always want to live near the beach and out of Gladstone which is after all an industrial town. Long term, no matter what happens in Gladstone, Tannum Sands and Boyne Island will be growth areas, purely based on locals wanting to live there.
When all of the construction of these industries is over in 10 years and most of the workers have left, it will be the families that will be left, those who like the lifestyle, not just the big money, and where are they going to want to live?
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