Hi Guys,
Wanted to get your thoughts on Mackay, QLD or Singleton, NSW? I was in Mackay last week and will be heading to Singleton next week to look at properties, I’m looking at 4 bedroom properties in both locations – new build, fully furnished – high rental returns. But with the potential quickly sell and avoid CGT as I would make them my primary residence.
Look forward to hearing your thoughts
Not sure how much you will get with 60k? Did you mean 600k?
Sorry…should have been more specific, I've got $60,000 cash and are looking at properties valued between 380K-420K.
For anyone who hasn't seen this blog from Josh – another member – read it today – fantastic info!!
http://ppiqldtour.blogspot.com/Where in Mackay were you looking to invest – suburb, estate???
Which builder were you looking to build property with?
Looking at house+land, or buying land then choosing builder?
Fully furnished?I live in Mackay, and I can help you a little should you need any questions answered , or I could point you in the right (generally right) direction.
pinkboy
Dcwwood, I agree with your first comment Josh’s blog on Gladstone is the most detailed I’ve seen. He has informed us of some more to come and Mackay is one of those. I would wait to read that and pose some questions back to him. I’m lookig at either Emerald or Mackay at the moment to buy! Both look set for long term growth and aren’t just reliant on the mining boom for thsi growth. That’s what I like about them both!NSW is really long term growth and low yields!
I'm definitely leaning towards Mackay, its a real muscle town offering so much more that just coal-seam gas projects.
Pinkboy, the estates I'm looking at are Plantation Palms, Avalon and Mountain View. Do you have a preference – based on location to CBD, surroundings, costs, potential for growth etc? Will most likely be doing a H&L package.
katmat wrote:Dcwwood, I agree with your first comment Josh’s blog on Gladstone is the most detailed I’ve seen. He has informed us of some more to come and Mackay is one of those. I would wait to read that and pose some questions back to him. I’m lookig at either Emerald or Mackay at the moment to buy! Both look set for long term growth and aren’t just reliant on the mining boom for thsi growth. That’s what I like about them both!NSW is really long term growth and low yields!No doubt the Bowen and Galilee Basins are going to create some real opportunities for investors in the coming years. I have property in Emerald and I like it’s growth story however, there are some things to like about NSW which I think get forgotten about, and who could blame anyone after the performance of the last state government regarding infrastructure planning and the like.
The Hunter Valley is interesting. Some massive investment being poured into the port in Newcastle off the back of this resource boom. New mines opening up and existing ones being expanded. Diverse economy: Tourism; Wineries; Agriculture; Horse Studs; 1.4b investment in transport infrastructure re: Hunter Expressway; future population boom and of course mining.
Yes, agree might not be as explosive as Central Qld but perhaps this is a good thing……
Good yields to be had in Muswellbrook.
dcwwood wrote:I'm definitely leaning towards Mackay, its a real muscle town offering so much more that just coal-seam gas projects.
Pinkboy, the estates I'm looking at are Plantation Palms, Avalon and Mountain View. Do you have a preference – based on location to CBD, surroundings, costs, potential for growth etc? Will most likely be doing a H&L package.
Of those 3, I believe Plantation Palms will be the performer. Good mix of parklands, close(er) to shops, new approved school in the estate (with cyclone proof hall), all underground services including gas and broadband, 50/50 mix of owner occupied/rentals. To me, the other 2 estates have less potential, and are further out (but not by so much anyway). They will be more 'rental' properties, and have less vibe. You still have to crunch your numbers.
Buy land (pay less stamp duty too) and then source a builder. Otherwise you will be paying quite a premium for the house+land package. In your price range you are going to find building a 4/2/2 pretty hard with prices hovering around $1500/m2. That is around 160m2 house.
If you can save a little more for deposit, Id be looking at Premier Gardens or Cuttersfield and build a slightly bigger house, which will give you a little better growth and rental return.
I am using a couple of builders currently building spec type homes, so if you want any names and numbers for builders, PM me.
pinkboy
Thanks pinkboy, will PM you now!!
Agree Land purchase, then secure the builder is the way to go.
Does anyone have any info on the Blacks Beach Cove development whether its got good rental potential? I'm still unsure on whether to invest in Gladstone or Mackay, we are buying as an investment property to rent out.
Also been looking at Calliope??
Nicki73 wrote:Does anyone have any info on the Blacks Beach Cove development whether its got good rental potential? I'm still unsure on whether to invest in Gladstone or Mackay, we are buying as an investment property to rent out.Also been looking at Calliope??
Hi Nicki73
Plenty of info on Blacks Beach and also Calliope, pm me and I can help you out.
Mackay has the edge over Singleton although you should get good growth over the next 5 years at both towns
Check out Adani mining…..
proposing to build a new coal mine exporting 60mtpa (create new qld town west of Moranbah), railway and port at MackayI have recently moved to Rockhampton after living in Mackay my whole life. My personal opinion would be to stay on the South side of town, there are some new estates growing rapidly in and around Ooralea. Brand new shopping complex currently being finished which contains Woolworths, close proximity to indsutrial sector in Mackay and adjacent to Peak Downs highway which runs west to the Bowen Basin mines. I think the growth in Mackay will be steady. I don't think there are too many opportunities to invest under $500k for 4×2 H&L though.
Gladstone is growing very very quickly, I think there is another couple of threads on here pertaining specifically to it, but I think getting into Gladstone now will see better returns in both rental and capital compared to Mackay.
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