Geraldton? What are your thoughts???

Well from personal experience of growing up there, let's just say that in going there you'd be in no danger of learning French.
 
Dont get sucked in by the cheap houses and good rents. DO NOT buy in Rangeway or Spalding.

I was looking at Mahomets Flats, Mount Tarcoola and Tarcoola Beach (and eventually bought there) Wonthella has some big blocks.

Agents also sell others agents listings and split the commish - if you want the name a good honest agent, just PM me
 
i thought i heard something about Atlas teaming up with FMG for this railway?

must the bumper profits they're making out of those Wodjina tails.
 
Area in Geraldton to buy IP

I am a newbie here and looking to buy an IP in Geraldton. Would be much appreciated if anyone can suggest suburbs or streets that i should avoid. I notice Dazz and a few other locals mentioned a few areas.

Thanks

TDLUU
 
I'm a Sunset Beach boy from my younger years. Lived in Beachlands before that (at Separation Point Caravan Park, no less). Sunset Beach was definitely more upmarket :)
 
I live in Gero now and am currently thinking about buying an IP. My advice is that I would avoid Rangeway Utakarra & Spalding, lots of social problems in those areas (a generalisation, there are plenty of people who live in these places and have no problems) and from personal experience the first thing new people to town are told is not to rent or buy in these areas.
Lots of people seem to be attracted to Mt Tarcoola, Wandina area which is nice, but you will pay for it. Bluff Point seems to be a good investment point, just across the highway from Spalding but doesn't suffer the same stigma, close to schools, town and shops so well located. Also look at the closer to the city suburbs like Beresford (older houses but well located). For brand new houses, a bit futher out of town but great for executive style living in pretty new areas is Drummonds Cove.
 
Having purchased multiple properties in Geraldton over the years pre boom :) I have owned properties in rangeway, spalding, beachlands, waggrakine and karloo.

Sold 6 of them some years back in the more problematic areas of rangeway and karloo and 1 in spalding. I basically kept the best properties and locations within my portfolio, still have properties in spalding, have had the same tenants there in 2 of the properties since I settled back in 2004, never paid a day late and look after some of the maintenance themselves. Wish all tenants were like this.

Also have my beachlands and waggrakine homes that have been good renters over the years.

I would say rangeway, karloo, utakarra and some parts of spalding are more problematic than the other areas but they are also a much cheaper entry price.

All in all Geraldton , and the lower end homes in rangeway, karloo etc have been good to me in terms of growth so cant complain.
 
SKA for Gero

Guys looking in Gero still- the SKA has been shared between us and South Africa- better than nothing which is how it lookes a month ago! Also heard yesterday the SA part going ahead depends on there being absolutely no fracking within a certain range of the telescopes for obvious reasons but that a fracking project had been given the go ahead near to where they are setting up in SA- go figure?? May end up awarding the entire project to the Murchison site. Anyways all good news for Gero!
On the Oakagee front- postponed til next budget by state govt- not surprising really and wont change the massive level of shipping going on at the current port- it is only increasing.
As far as suburbs to go for- only stick with Mount Tarcoola, Wandina, Tarc Beach, some parts very centrally, some parts of Beresford and Bluff Point. Sorry for anyone thinking of investing in other cheaper suburbs- but go and look for yourself. And Belbo I think you could learn some French in Rangeway- as in Pardon my French perhaps???
One thing to look at is rents are booming- good rentals are hard to find and in high demand- Mount Tarcoola is a HUGE favourite with renters as people can walk to the best local govvy school. Good properties get signed up before even completing the building.
New props would def be getting close to pos cash flow esp if another rate reduction.
 
IP in Geraldton

Hi fellas,
First post here. I just signed a contract on an IP in Geraldton. Have been researching this area for a long time, lets hope my research proves me right!

Tim
 
Hi fellas,
First post here. I just signed a contract on an IP in Geraldton. Have been researching this area for a long time, lets hope my research proves me right!

Tim

Good luck

I own an IP in whyalla which is in a similiar position to Geraldton in a few ways.
I havn't heard any new news about Oakajee for ages except the Chinese want to influence the positioning of the rail system. Hopefully Mitsubishi pulls there finger out.
Anyway might prove a good time to buy

What sort of yields are you looking at over there?
 
Geraldton rental yield

Strongy, It'll be about 5.8% yield. Not really using this house as an income stream, I have a house in Rockhampton and Gladstone for that! As it is a brand new house, after the depreciation and other tax deductions it will cost me nothing to own, so I just sit and wait for either the rents and/or capital value to rise. :)

Happy to share more details of my purchase if you wish to know more...
 
Hi All,

Just wondering if any anyone could give me an idea on how the real estate market is in Geraldton at the moment.

I am from Sydney but I have some ip's in Wonthella.

Any feedback is appreciated.
 
DDDKEFather not a Gero local (but was born there) but my Mum and Grandma both live there and both trying to sell their houses at the moment (for different reasons). Both properties seem to be pretty static from when they were purchased 4-5 years ago.
 
Jodes92 I wonder how much an effect the mining downturn in WA has been on Geraldton. Even though Geraldton is not a mining town in the same sense as other WA regional towns.
 
For what it's worth

geraldton.png


geraldton.png
 
hahahaha - i think that's the date I did my R Codes seminar to sales agents in Geraldton....
 

Attachments

  • geraldton.png
    geraldton.png
    20 KB · Views: 41
Back
Top