Gladstone QLD - How is it Going????

[Bigtone]

OK you Gladstone Gurus who have posted above. I have read a lot of threads re Gladstone and have come up with below 3 properties that are for sale.

What do you guys think? Any comments would be appreciated on location etc, value for money and anything else. I want to join you guys in owning something in Gladstone. Thanks in advance.

http://www.realestate.com.au/property-house-qld-gladstone-106754693
16 Mercury Street, Telina, $395,000

http://www.realestate.com.au/property-house-qld-gladstone-107301103
22 Waratah Street, Kin Kora, $449,000

http://www.realestate.com.au/property-house-qld-gladstone-107445431
5 Fergusson Crescent, West Gladstone, $499,000

no guru but my opinion is this:

in the last boom the bottom priced properties increased the most, units especially so if buying a house i would buy at cheaper end.

having said that if i had to choose between those three i would choose the 3rd and most expensive option, don't like waratah area and don't like first property in telina at all.

the third one if furnished would get a massive rent, you would be competing with all the new stuff but would have the advantage of being closer to town and not in the new estates that will suffer regional gridlock as population grows. That property will also have scarcity value where the new estates will have none.

 

[charlieandkath]

no guru but my opinion is this:

in the last boom the bottom priced properties increased the most, units especially so if buying a house i would buy at cheaper end.

having said that if i had to choose between those three i would choose the 3rd and most expensive option, don't like waratah area and don't like first property in telina at all.

the third one if furnished would get a massive rent, you would be competing with all the new stuff but would have the advantage of being closer to town and not in the new estates that will suffer regional gridlock as population grows. That property will also have scarcity value where the new estates will have none.

Thanks Bigtone, I like the third one the best aswell - being the most expensive it will stretch the friendship with my finance the most but saying that it would probably have the best yield especially if furnished.

The one in Telina has had a lot of views so obviously a lot of other people do not like it either.

When you say you don't like the Waratah area are you saying that street and surrounds in the Kin Kora area or are you talking a different area?

Thanks again for your feedback.

 

[Tebby]

When I was looking to buy in Gladstone late last year I saw the Telina one advertised. It is still not sold - I wonder why.
I ended up buying a high set queenslander in West Gladstone next to a primary school. Cruising along nicely so far.

 

[Tebby]

the 3rd property seems like very good value. I would choose that one out of the 3.

 

[charlieandkath]

the 3rd property seems like very good value. I would choose that one out of the 3.

Thanks Tebby for the input above. The one in Telina must have something majorly wrong with it. Good to hear you bought up there and everything is cruising along nicely.

Flatout81 - welcome to the forum. Great to see you are on the ground up there. If you had 450,000 to buy a house in Gladstone or surrounds where would you buy?

 

[flatout81]

OK you Gladstone Gurus who have posted above. I have read a lot of threads re Gladstone and have come up with below 3 properties that are for sale.

What do you guys think? Any comments would be appreciated on location etc, value for money and anything else. I want to join you guys in owning something in Gladstone. Thanks in advance.

http://www.realestate.com.au/property-house-qld-gladstone-106754693
16 Mercury Street, Telina, $395,000

http://www.realestate.com.au/property-house-qld-gladstone-107301103
22 Waratah Street, Kin Kora, $449,000

http://www.realestate.com.au/property-house-qld-gladstone-107445431
5 Fergusson Crescent, West Gladstone, $499,000

I don't want to criticize anyone's property personally but I would recommend you research the areas some more rather than taking advice off someone on the internet.

However I will point out that some areas close to the hospital have significant older housing commission houses which would hold back your property value IF you were to purchase in that area.

 

[flatout81]

Thanks Tebby for the input above. The one in Telina must have something majorly wrong with it. Good to hear you bought up there and everything is cruising along nicely.

Flatout81 - welcome to the forum. Great to see you are on the ground up there. If you had 450,000 to buy a house in Gladstone or surrounds where would you buy?

$450K Should get you into the lower end of the 4Br / higher end of the 3Br in the better estates depending on land size, extras etc.

Travel isn't a big issue as you can cross the town in 10min so don't get caught in hype about "inner city" unless you want to develop units.

The southern western areas are less exposed to the industry fallouts coal dust etc and in general have less housing commission however it isn't quite that clear cut hence my suggestion to research the area before you purchase.

Although even a bad buy in Gladstone will do better than good buys in many other areas over the next few years.

 

[flatout81]

Here is a property that would be worth inspecting -

http://www.realestate.com.au/107511343

It's in an older but not "bad" area, very good value for a lowset brick 3bd in todays market and IMO with a renno would get some quick equity and be a good cheaper end of the market rental.

P.S - I have no affiliation with the sale or selling of this property, only providing another option to the question from charlieandkath.

 

[sam_oz]

Here is a property that would be worth inspecting -

http://www.realestate.com.au/107511343

It's in an older but not "bad" area, very good value for a lowset brick 3bd in todays market and IMO with a renno would get some quick equity and be a good cheaper end of the market rental.

P.S - I have no affiliation with the sale or selling of this property, only providing another option to the question from charlieandkath.

http://www.realestate.com.au/property-house-qld-gladstone-107509999

It looks like under quoted!!

May be because it is too close to Aluminium refinery?

 

[R377]

I got my leased renewed a few months ago with only a $10 increase to $300 per week for an average 3bdr in Fletcher St, West Gladstone. ( My rent has remained firm even when we had the downcycle )

Do you think today if renewed it should be worth $350 per week ?

 

[mattnz]

An update on the rentals to jobs ratio in Gladstone:
was 15.9, now 21.7!!
60 rentals available vs 1303 jobs

Also whoever bought this property which was recently for sale around $500k got a steal if they can command the $1100 pw rent they are now seeking
http://www.realestate.com.au/property-house-qld-gladstone-405310346

Most likely renting it while getting their DA through council to put units up, 1100 sqm site in cbd location, cha-ching $$$

 

[Bigtone]

I got my leased renewed a few months ago with only a $10 increase to $300 per week for an average 3bdr in Fletcher St, West Gladstone. ( My rent has remained firm even when we had the downcycle )

Do you think today if renewed it should be worth $350 per week ?

yes if not more.

on another related note i have booked a flight to go for a visit in a couple of weeks, perhaps should have booked accomm first, not a room to be found on any internet site, there are only vacancies on weekends, will have to call a few smaller ones not connected to the booking websites and hope for some luck

there is so much money to be made in this town it is scary, resi property will be a winner again no doubt but there are fortunes to be made in many others areas if u can get them right

 

[cleverproperty]

Gladstone scares me a little...

I was there a month ago, chatting to multiple agents. I accept there is about to be an avalanche of infrastructure and projects hitting the town soon. It was really those kind of headlines that made me visit the place.

I saw many DA approved and potential unit development sites still on the market from 12 months ago (perhaps they are asking too much). I saw huge estates which might have moved half a stage in 12months in both Gladstone and the surrounding regions. I also saw estates formerly for 'owner occupiers only' sold out to investment property companies... (who were in turn selling 130sqm homes to WA investors...?).

Then you have the generous rise the Gladstone property market has already recently had and compare the prices there with Rockhampton and Mackay...

I just couldn't pick the market...? It has had a healthy rise in value - there is a surplus of available properties, and the comparative regions nearby have bargains in comparison.

I am not normally cautious - but I am saying be careful.

 

[brianna]

Mattnz where are you getting those job vacancy figures from? If it is from seek the numbers are for gladstone/central queensland combined. I strongly disagree with the figures you are throwing out there. I live in the area and there isn't the glut of jobs available here (for the normal person) that everyone thinks there is.

There are a few idiots on re.com asking for these huge rents ($1100pw). They aren't getting them as of yet - eventually maybee.

 

[flatout81]

Gladstone scares me a little...

I was there a month ago, chatting to multiple agents. I accept there is about to be an avalanche of infrastructure and projects hitting the town soon. It was really those kind of headlines that made me visit the place.

I saw many DA approved and potential unit development sites still on the market from 12 months ago (perhaps they are asking too much). I saw huge estates which might have moved half a stage in 12months in both Gladstone and the surrounding regions. I also saw estates formerly for 'owner occupiers only' sold out to investment property companies... (who were in turn selling 130sqm homes to WA investors...?).

Then you have the generous rise the Gladstone property market has already recently had and compare the prices there with Rockhampton and Mackay...

I just couldn't pick the market...? It has had a healthy rise in value - there is a surplus of available properties, and the comparative regions nearby have bargains in comparison.

I am not normally cautious - but I am saying be careful.

I don't follow your point in this post.

Are you saying things have not developed as fast as you expected?

If so that is more of a reason to invest as the influx of people increases, lagging development will mean housing will be in more demand and rents will rise with the demand.

As I have said previously things are only trickling along at the moment. The next 6-12mths will be when things are really starting to happen.

Fortune favours the brave AND the prepared.

 

[mattnz]

Mattnz where are you getting those job vacancy figures from? If it is from seek the numbers are for gladstone/central queensland combined. I strongly disagree with the figures you are throwing out there. I live in the area and there isn't the glut of jobs available here (for the normal person) that everyone thinks there is.

There are a few idiots on re.com asking for these huge rents ($1100pw). They aren't getting them as of yet - eventually maybee.

http://www.seek.com.au/JobSearch?DateRange=31&Keywords=gladstone&nation=3000&SearchFrom=quick

I have seen fully furnished properties in Gladstone which were nothing special going for $900-$1000 per week. I don't think we are too far away from this becoming the norm.

 

[R377]

just spoke to my property manager today. 3 bedroom houses start at $400 per week and they are re-evaluating them each day !!!

Could very well go to $450+ in the next few months she reckons....

 

[Tebby]

my PM just told me we are going to increase the rent from $380 to $440. It was a 6mth lease - pretty crazy if you ask me.

 

[Belbo]

This is not good! I'm tapped out, and something's going ballistic here - I can just feel it. Good on you if you can get in, you *******s!

 

[mattnz]

just spoke to my property manager today. 3 bedroom houses start at $400 per week and they are re-evaluating them each day !!!

Could very well go to $450+ in the next few months she reckons....

Its already happened, this search shows the cheapest 3 bed house in Gladstone that isn't already under contract is $450 per week.

http://www.realestate.com.au/rent/with-3-bedrooms-in-gladstone,+qld+4680/list-1?activeSort=price-asc