Hi Guys,
I'm looking to purchase my third investment property and I am particularly looking at Rockhampton due to recent rental rises, overdue growth and close proximity to overvalued (In my opinion) Gladstone. Does anyone have any ideas on how they think Rockhampton in general will fare for capital growth over the next year or two considering you can easily purchase a house in a middle rung suburb for around 250K?
Any help appreciated
Hi Mickstuth,
Did you end up investing and how did you go?
Henry
I'd also be interested in your experience, had a couple of SMSF property deals in the area in December (my clients), have a trip to QLD in Feb and will ensure I visit. Would be great to hear if you experience is positive
Redwood | REDWOOD | SMSF | PROPERTY | FINANCE
http://redwoodadvisory.com.au
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Hi Henry,
I did a lot of on the ground research, inspections and attended auctions for around three months specifically targeting Wandal, Berserker and Park Avenue. I was looking for a renovator. At the time (pre election), It was a real buyers market and there was plenty of scope for negotiating. Yields were around 6%+ as well. My situation changed whereby I couldn't get up to do a lot of the work (3 hours away) if I bought and the rental demand lightened suddenly due to mining industry changes. I still like the town as an investment target but will be looking at Bundaberg now as it is closer to Agnes Water. There's heaps of older places there with scope for improvement and good yields. Just do due diligence regarding flooding of course
Hi guys
After a few trips to rocky and plenty of research on the ground, I can report that anything out of the flood zone, fairly priced is selling quickly.
Twice I got pipped at the post when putting an offer in.
One was for a clean two bed duplex, the other a three bedder returning just under 7% yield.
yes there has been a slight softening on rents, but this is on the back of some hefty rises, and the yields are still strong.
Five months ago on my first visit, there was more quality stock to pick through, this has quickly thinned out. With only flood prone or high maintenance properties sitting stagnant on the market.
I also found rocky to tell a different story each side of the river, with frenchville, norman gardens and parts of berserker ticking along nicely, whilst allonstown and west rocky seemed to be a slower market.
Will defiantly be back up to secure another IP in the next few weeks.
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