I am thinking of buying 5 houses in Rocky in the $250K range. Good yields. Seems very good value ??
I don't mind Rocky at all and in fact until recently seemed to own half the town with a variety of buy & holds, wraps and couple of developments etc.
Never going to see prices in the town accelerate in leaps and bounds but at least you will get good steady long term returns.
Just watch for your low lying areas but at those sorts of prices you can't go too far wrong with the right property.
Cheers
Yours in Finance
Richard Taylor | Australia's leading private lender
I think the returns are very good. prices are up 120-150% in the last 10 years all whilst yields are 7-8% so basically the gains came free.
As Richard said, be wary of the low lying areas, a lot of undesirable people living in certain parts. Want to make sure you steer clear of them.
mcollins wrote:I think the returns are very good. prices are up 120-150% in the last 10 years all whilst yields are 7-8% so basically the gains came free.RPData trend shows absolutely flat as a pancake since 07 so I'm mystified where you get 120-150% cg from
Graphs below are from Domain
This is fairly generalised data but the price growth trend is fairly loud. The big drivers of price growth have largely dissipated in the Rocky region. I wouldn't expect to see price growth return to pre 07 levels any time soon.
RPData trend shows absolutely flat as a pancake since 07 so I’m mystified where you get 120-150% cg from
I’m in the process of researching my first IP that fits within a reasonably small budget (compared to some people around here anyhow) and I’ve been considering a few areas around Rocky including the Pineapple Patch.
It looks to be run by Ron Bakir which seems to be a positive but I guess I have a lot more research to do yet!
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This reply was modified 10 years ago by
Chris_A.
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