Rockhampton

S

Shaneelastic

Hi all,

Doing a bit of research on this area and I have short listed it for a potential purchase over the next 12 months, so I will be dong alot of research ove rthe coming months. Funny it doesnt show up in searched on smersoft though???

In terms of population growth it looks ok, major industry is farming and tourism, my purchase would be looking at renting to this type of worker, I'm comfortable with farmng in Australia, however tourism I am a bit sceptical on.

That said, can anyone provide some further insight nto this area, any major negatives??

Thanks, I will try and keep updated this thread
 
rocky always has been a good area to buy good value plenty of tenants

research make sure to check flood zones etc and go for it
 
Shaneelastic said:
Hi all,

Doing a bit of research on this area and I have short listed it for a potential purchase over the next 12 months, so I will be dong alot of research over the coming months. Funny it doesnt show up in searched on smersoft though???

In terms of population growth it looks ok, major industry is farming and tourism, my purchase would be looking at renting to this type of worker, I'm comfortable with farmng in Australia, however tourism I am a bit sceptical on.

That said, can anyone provide some further insight nto this area, any major negatives??

Thanks, I will try and keep updated this thread
Click to expand...

No matter what people say about rocky its a perfect place for investment if you buy at the right price:

mining spinoff, cattle industry, meatworks, railway industry, tourism, light manufacturing industry, local business is always steady as she goes.

rockys population will eventually be overtaken by the capricorm coast, yeppoon area over the next 50 years without question but rocky will always be the hub for industry in this area.....the area for business and housing is quite stable and safe if you look medium to long term.

i have bought and sold over 20 properties in the area last 30 years so i can vouch the place is pretty good...its a case however of timing to enter/exit any market to maximize sell profits.

I am currently out of the rocky market totally, preferring to invest in darwin and the capricorn coast long term.
 
Thanks for the replies so far. Given me a few more things to think about.

I already have 1 investment property which I bought a few years ago in my home suburb - its turned out good though, and also just built a ppor 15 mins away, so im wanting to get out of my own area so to speak and into a new state.

Bloke at work who just moved to the big smoke has come from rocky, ive been chewing his ear about a few things so far and will continue to do so.
 
Rocky city has averaged 13% growth p/a for the past 10 yrs. I'd think that was worthwhile to look at. It has a decent size population, vast employment opportunities and plenty of renters :)
 
I bought and sold in Rocky a while back now - approx 7 yrs ago - and did very well. The interesting thing I found whilst searching for IP's was the high no. of furnished properties for rent. It certainly assisted with my depreciation schedule and saw the properties cost me nothing from day 1 to hold. It's a nice town but do watch out for the flood zones. I spent a few weekends up there, researching before I bought. I also invested in a flood zoning map from the council and overlaid this onto a map of the town. Assisted enormously in quickly identifying whether or not a house was in the danger zone.
Best of luck.
 
Q-100 flood map is available free here:

http://www.rockhampton.qld.gov.au/rccnet/showarticle.aspx?id=13125

Keep in mind most of Rocky is not flood prone...only low lying areas in Depot Hill, Lakes creek, Park Avenue, Wandal, Port Curtis...most of Rocky, say 80% is flood free so dont be put off.....a vast area of Brisbane is flood prone to which will surprise many when they have their next big flood......that will take in many new suburbs I guarantee...

Rocky and surrounding areas: 4700, 4701, 4702, 4703
 
Certainly seems to have a variety of employment opportunities according to the above posts. QLD tends to have cycles in the property market, is Rocky prone to this or a pretty level playing field?
 
wanelad said:
Certainly seems to have a variety of employment opportunities according to the above posts. QLD tends to have cycles in the property market, is Rocky prone to this or a pretty level playing field?
Click to expand...

Very cyclical market in Rocky. At the moment, it's on a downward spiral, I wouldn't say it's hit rock bottom yet by any stretch of the imagination, but I bought there a few months back and made an offer on another place on the northside last week. Still in negotiations. Both places CF+.
 
Icarus said:
Very cyclical market in Rocky. At the moment, it's on a downward spiral, CF+.
Click to expand...

you waffled on last week about this?

what downward spiral are you referring to?

i think your dreaming or hoping buddy..the market is quiet but the bum of it hasnt fallen out...

please post some informed opinion with stats to back up your claim of downward spiral?
 
Waffled on about this last week? What are you talking about? Are you sure you have the right person?

The downward spiral I mentioned was in terms of the valuations of the properties I currently own in Rocky, and of the valuations of the properties I have been looking at buying.

Specifically, I picked up a 2br unit 3 months ago for $133,000k, up to this point they were selling for around the $150k mark or more. Bank valued it at $130,000 on purchase. A good mate bought a similar 2br one in same complex in late 07 and it was valued then at $150,000.

I also have a 3br in that same complex which was valued at $180k in early 09, last val came back at $165k. That was completed 4 months ago.

I've made offers on 2 more places in the last week and have received counter offers back at significantly reduced prices from initial asking price. One, even lower than the $133,000 mark I paid for my 2br unit 3 months back - for a comparative property.

I said downward spiral, nowhere did I say bum had fallen out of it. I'm not dreaming - or hoping. Quite the opposite, I'm very pro Rocky. That's why I continue to invest my money there.

I'm happy to be proven wrong, please show me some examples of where the market in Rockhampton is increasing at the moment.
 
fair enough.............market has maybe dropped max 10% but that isnt across the board.............

units have dropped for sure..........but @150k value what type of units are you buying? they must be in poxy parts of rocky..........

your not buying those units on rockonia road are you? cluster type housing?
 
High end of the market has taken a hit too. Mate in Frenchville is having a tough time selling his place (purc $570k in 07) even for $520k. 10% is a fair drop! I've been looking at mid-range properties and they are in the same boat - selling (when they finaly do) for 07 prices or less.

Yep, talking about the units on Rockonia Rd. They've always been cf+ and never without tenants for more than a week. Townhouse design - had a lot of international and mine rentals - hence my comment a couple of months back about losses of tenants in these areas when GFC/low meat prices hit.

I didn't think the low end of town would be affected as much, but saw that little 4br house in the city (on Cambridge St I think?) listed at $135k. Haven't seen anything that cheap listed since at least '06.
 
rockonia rd units, good luck there...hope you dont own the one where a murder was committed several years ago....its a dodgy area

each to their own but that unit area is definitely not my cup of tea for investing and obtaining quality appreciation....sure you will get someone to rent to cover yourself but cant see a huge monetary increase over 5 years from herein ...rockonia road is not exactly a desirable location...still its an investment...

07 really top of the boom here...most will struggle getting a premium as they purchased over inflated homes with price...

sometimes you have to cop a loss and move on...

cheaper to build currently up here than buy established in my opinion for houses $400-600k in a good area...

i have a good builder if you ever want one...no one will beat him in price and value for money...
 
That incident happened years back, even well before I went to uni - and I have a few more grey hairs than I'd like to admit!

I'm sure that if you dug deep enough you could uncover the dirtiest of deeds in even the flashest suburb or street in any town in Australia. Why would you even bother to bring that up?

I'm not going to discuss my personal investment strategy here, and everyone is entitled to their opinion. All the best with your investments. Only time will tell if you're correct.
 
yep, got it in one with that pic.....

as i say each to their own but absolute no chance i would buy one of those units.......cheap for a reason.
 
Icarus said:
Why would you even bother to bring that up?
You forget Rocky is a small place, memories run very deep here, people dont forget nothing up here

I'm not going to discuss my personal investment strategy here, How am I to learn your thinking then if you dont share you knowledge
Click to expand...

Look Im not taking the pi$$ or anything but there are far better buys if your patient around the place than rockonia road area..........get in sweet with 3-4 agents and wait, dont be in a rush..
 
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