TAS Hobart is absolutely flying

Discussion in 'Where to Buy' started by Inov8ive, 16th Feb, 2017.

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  1. VB King

    VB King Well-Known Member

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    There's a time to talk percentages and a time to talk absolutes.
     
  2. Inov8ive

    Inov8ive Well-Known Member

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    No. You invest the same amount of money in Hobart as you do in Sydney in the last 3 months and you get a better return, period.
     
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  3. Pier1

    Pier1 Well-Known Member

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    Absolute rubbish. 3 months is not investing
    If you say speculate then yes you are correct
     
  4. Pier1

    Pier1 Well-Known Member

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    Exactly.
    No absolutes in any of the "Hobart Leads The Way" hyperbole.
     
  5. Inov8ive

    Inov8ive Well-Known Member

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    ?? Ah what? In the last 3 months, Hobart has seen more growth than Sydney or Melbourne. This is fact. Nobody is suggesting that you invest in property for only 3 months, just stating the facts. You decided to somehow compare a 1 million dollar investment against a 300k investment for some unknown reason. My point is, 1 dollar invested in Hobart property over the last 3 months gives a better return than any other capital city in Australia over the last 3 months. :cool:
     
  6. Pier1

    Pier1 Well-Known Member

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    All good mate not going to argue or compare.
     
  7. See Change

    See Change Well-Known Member

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    So if you're not going to do that why did you say ...

    You make that point perfect in your own. post .....

    At 200 K you can get a 6-7 % return , whereas if you buy a 1M house you're not going to get close to 6-7 % return so the holding costs on that 1 M dollar house are going to me significantly more as a % of the purchase price

    Solution is to buy several of those 2-300K houses . Spreads the risk in terms of vacancies.

    Most of our properties in Ipswich / Goodna cost us less than 1-2 k / year to hold and combined their work significantly ore than 1 mil.

    Pier1

    You decided to post on a thread on Hobart making negative comments . Do you have any idea on what the market is like down there ?

    I do . We spent 220 on a block of 4 units in Hobart in the early 2000's . Rent at that stage was 440 and now close to 900 . It's our Best Buy . It's in New Town ( which is a very nice inner ring suburb ) . At the time we bought it , some members where quick to ridicule the chances of growth in Hobart.
    Not sure what it's worth at this stage as have no intention of selling it , but a quick search of units in New Town only shows one for sale . A fairly tired looking 2 bedder for 239 in a 6's red brick block , and not in a "character " block like the block we have .

    There is a member on the forum who has generated more cash flow and capital growth from one property in Hobart than the vast majority of forum members will make in their life time .

    Tassie can be a gold mine . All comes down to timing and now is a good time to be buying in Tassie .

    Cliff
     
    Last edited: 13th Mar, 2017
  8. legallyblonde

    legallyblonde Well-Known Member

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    I agree that you need to compare apples with apples! Especially when assessing return on investment. Also, like @See Change pointed out... Properties in Tassie are probably going to have a rental yield double that of Sydney. Mine rental yields are currently 5.5% and 7.8% (but will go back to 5.9% in June).
     
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  9. Pier1

    Pier1 Well-Known Member

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    All good mate, not going to argue or compare......
    However, never once made negative comment about Hobart or its investment potential, more so about the quality of the media reporting and their use of statistics.
    I know a little about Tasmania, have spent at least 2 weeks there on holidays each year since 2005 (love the hiking down there).
    I know a little more about Hobart specifically (We lived in Sandy Bay 2009 - 2011)
    Speculators I know on the ground have been selling into this "Boom"
    Investors I know on the ground are invested and continue to do so and collect their rents.
    Happy investing in Hobart, I love the place
     
  10. Konrad K

    Konrad K Member

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    Plus the food down in TAS is UNBELIEVABLE from what I hear. Fresh, local and full of love.
     
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  11. FlossyB

    FlossyB Member

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    My husband and I have just gone under contract on our first IP in West Launceston. I'm pretty excited. It's a 1950's brick, 7 mins from the city and getting a good rental return. Needed something low maintenance as we live in Bris. We love Hobart but it's already out of our price range for investing so we looked to the next biggest city. Just something to sit on for our retirement, let's hope some good capital growth occurs over the next 20 years!
     
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  12. FlossyB

    FlossyB Member

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    Also there's quite a bit of movement in Launceston at the moment, lots of properties going under contract before they hit the market and buyers going above asking price. Hopefully it's a good sign for us...
     
  13. See Change

    See Change Well-Known Member

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    Nice to hear . Though our Launnie purchases are long term holds . ( personally I want Goodna and Ipswich to double so we can sell and pay our Launceston IP's off ...)

    Is that mainly in the middle , or in the "outer " parts , even Ravo ?? !!

    Cliff
     
  14. FlossyB

    FlossyB Member

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    Sorry I'm not sure about Ravo and other suburbs as we were mainly looking at East, South and West Launnie. Things have been moving pretty quick inner city so could be a good sign for your properties too. We bought for long term too
     
  15. See Change

    See Change Well-Known Member

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    we don't have any in Ravenswood . Ours are in south and west Launceston , just ravo's at the bottom of the heap so ? the last to move .

    Clifl
     
  16. See Change

    See Change Well-Known Member

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    Just posted this reply in the Brisbane thread , but it's the reason why our last purchase was in Hobart , not in Brisbane . So probably more relevant here .

    Didn't say that .......It's moving but booming ?

    You can have fought over auctions at any time in the cycle for the right property .

    Main reason I don't think we quite in " Boom " phase is that stock levels aren't trending down strongly . Some places are moving down , but some places have gone down , gone up a bit and plateaued . For a boom , I'd expect the majority to be at the lowest levels for the last 6-7 years and that's not the case.

    Go to sqm free research and put in a few suburbs in brisbane and then put in 7008 ( New Town ) , 7009 ( Moonah - where we tried to buy ) and 7011 ( Claremont - where we just bought ) . You see that all of those are trending down strongly and are at their lowest levels for the reporting period ( last six years ) . All of those charts have a similar pattern with a trading range and a break below that around a year ago .

    The graphs for Launceston aren't as impressive but some appear to have broken down around six months , while others have had a recent blip up

    I'm still expecting Brisbane to boom at some stage , but I think Hobart is booming ( just into it ) and that's why we bought our last one there , rather than another in Goodna .

    Cliff
     
  17. strongy1986

    strongy1986 Well-Known Member

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    That sqm stock on market chart is awesome. Never knew it existed.....
    Very powerful analysing tool

    Cheers
     
  18. See Change

    See Change Well-Known Member

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    One of my go to tools though only really kicks in once the market starts moving , but it's a good confirmation tool as per Hobart now . We wanted to buy in Moonah / Glenorchy but couldn't find reasonable deals . When I saw the chart for Claremont , I was happy to buy there , though it's not quite as crazy , though the chart looks just as good

    I tend to use that and the 10 year averages on realestate.com as my main tools now days.

    Check out the chart for 2095 ( manly ) and 2770 ( Mt Druitt ) certainly appear to have bottomed .

    Cliff
     
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  19. Bozley

    Bozley Well-Known Member

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    SQM free research site is very useful. The Asking Prices option is also a good leading indicator of early price movement
     
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  20. radson

    radson Well-Known Member

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    Our little place in Sandy Bay has gone up 15.7% in the year since we bought.
     
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