A couple buying up in Gladstone's depressed market. http://m.gladstoneobserver.com.au/news/is-selling-the-only-option-you-have/2541549/
Gladstone QLD - How is it Going????
- Thread starter charlieandkath
- Start date
Looks like wrapping / vendor finance.
Good news is vacancy rates continue to drop, down to 4.9% from a high of almost 12%.
Same with stock on market, 1700 (Apr 13) down to 1290 (Dec 14). It was 800 throughout the height of the last boom period.
I don't expect a boom times to return for a while, but word on the ground from my PM's is that we have probably just passed the bottom. She is even looking to raise rents just a touch on some select properties.
Now Dec, please try to play nice. I'm sure the poor lady requires some pampering.
My house is a five minute walk from schools and shops and rented last week before the current lease had expired. Thank you Lord!
The good news is that my tenant has come off the island and still has a years' employment. The island's housing might be closing but not everyone on the island is leaving town. These workmen will have to go somewhere.
My house is a five minute walk from schools and shops and rented last week before the current lease had expired. Thank you Lord!
The good news is that my tenant has come off the island and still has a years' employment. The island's housing might be closing but not everyone on the island is leaving town. These workmen will have to go somewhere.
I was'nt being nasty, OP said they had listed at $420k and 10 minutes later RE.com had it at $415k.
Repeated discounting at that speed will get a sale, thats a fact.
Both my properties are in west gladstone right in behind the hospital. I am getting $315 and $350 per week for each property. The $350 is a long term tenant and $315 was the more recent house.
Vacancy rates Gladstone. Jan 5.2%. Feb 4.9%. March 4.4%
What are chances of rates dropping in line with the property process dropping?
http://m.gladstoneobserver.com.au/news/rates-should-drop-for-some/2566747/
Council increased rates during the boom to match property process but now they have dropped significantly and council aren't reducing rates to match movement.
I'd say property prices are back to 2009 prices. Based on entry level 3 bed house
http://m.gladstoneobserver.com.au/news/rates-should-drop-for-some/2566747/
Council increased rates during the boom to match property process but now they have dropped significantly and council aren't reducing rates to match movement.
I'd say property prices are back to 2009 prices. Based on entry level 3 bed house
Your are very lucky I just renewed mine at $40 less pw.. Its not getting any better and unless a major development gets the go ahead in the next 6 months things are only going to get worse.
Real estate sales hit five-year high in state
http://www.gladstoneobserver.com.au/news/real-estate-sales-hit-five-year-high-in-state/2578209/
Maybe, just maybe, there will be some flow on to Gladstone, but of course, us trying to get tennants will just love more properties being sold! Not!
Cheers,
James
http://www.gladstoneobserver.com.au/news/real-estate-sales-hit-five-year-high-in-state/2578209/
Maybe, just maybe, there will be some flow on to Gladstone, but of course, us trying to get tennants will just love more properties being sold! Not!
Cheers,
James
I will take luck if it comes my way.
That's what I'm hoping too David.. Here and chinchilla a lot of people have been burnt and are being burnt hopefully these places get a bad reputation for investing..
Still talk of this steel plant going ahead in the Gladstone observer, saying they would be aiming to start construction in 2016. Alot of jobs involved if it goes ahead. All the locals comment on there saying it has no hope of going ahead though, anyone on the ground there with any thoughts/insider knowledge?
Do they state why it wont go ahead? Whenever I read any comments by locals, they are generally like nasty brats poo pooing anything and everything for the sake of being negative.
