TAS Hobart is absolutely flying

I checked out a 3 acre property in Brighton over the weekend. 4 bed 2 bath 3car garage.

8 Redside Drive Brighton Tas 7030 - House for Sale #125804430 - realestate.com.au

It has mountain view and needs little work. I can get it for $390k. Rental appraisal is $ 390-420. Agent said neighbor is raising sheep in the paddock and maintaining the fence. This would help reduce maintenance cost.

It is in rural living zone and can't be subdivided. But I guess it could worth a lot if it's rezoned in the future.

Any thoughts on this? @See Change @Pat @legallyblonde

 

hi @Mark

i thought about brighton last year but my main concern was that there is a lot of subdivision and new housing being built, so definitely no land scarcity. I did not do any due diligence, but having a quick look now, the days on market have dropped dramatically in the past 9-12 months, and at the same time vacancy rates have dropped to approx 0.5%. my only concern would be how much growth you would get. it is still a fair drive from the CBD (for hobart people, 30 mins is a long time!!).

you could consider dual income by agisting the land separately. There is always a market for horse owners to have good land for their horses or livestock and it is a bonus if the neighbour is maintaining the fence.

 

Thanks. I would not buy a house on a standard block. The attraction of that property is 3 acres. If it is rezoned to general residential, I think its value will go up a lot as I can possibly divide it into close to 20 blocks.

 

Sorry , rural blocks , green field subdivision is not my area of interest . Too much like hard work .

Cliff

 

We are interstate and I have been searching for an acreage in Tassie. Prices are pretty high and there is a fair bit of crap left. Any ideas about who to leave my details with for acreage south or north of Hobart?

 

When the market is booming and they have 5-10 offers within a few days , they're not going to have time to ring you back . Why should they ?

You have to ring them , each week if necessary .

Once you've talked to them a few times then they might tell you about the one coming on the market next week . We picked up our Best Buy in Launceston that way . Talking to agent and he said , well I've got one coming on next week ....

Cliff

 

My main concern would be that there is no lack of land out there. My family owned blocks in Bagdad a couple of suburbs further out and from memory it took maybe 18 months and many price drops to move them.

 

Good observation. Agents are a bit like that from a long memory. All over you when they have no buyers and ignore customers when its a hot market. Don't you just love the real estate industry.
You are spot on with your suggestion though. Will do.
Just wondering if you are aware of a site to advertise that I am wanting to buy?

 

Ditto. Talking, meeting is the best approach - shows you're serious. Putting a name on a website could be seen as a fleeting interst. @MTR, as well as other IP investors, posted a lot about talking to and understanding the REAs. The ball's currently in their court (or so they think).

 

'Hobart could be the next Sydney'

Hobart could be the next Sydney, says property market analyst - Smart Property Investment

 

I am having a break from buying but I always look online. I thought this little place was cute and a fair price. And on a nice quiet area on the end of the road. 44 Paringa Road Glenorchy Tas 7010 - House for Sale #125662422 - realestate.com.au

Plus nice block! nearly a bush block

Could be cf+ for the right price.
no affiliation just thought it looked nice, very tempted to email the agent....

 

There are lots of land. However, the suburb is quite nice as most houses are quite new. I do have concern of capital growth. I checked Brighton Town Centre Local Area Plan and found that the house I am interested in is not in the proposed rezoned area.

 

Has anybody bought a property in Chigwell? Is there many tenant issues? I checked out some properties in Chigwell and find there are lots of rundown weatherboard houses.

 

It was very rough when I lived there. I would suspect poor quality tenants. It was known for unemployed, druggies and the like. Not sure if the area has improved in the past 15 years.

 

Thanks, Pat. Some streets closer to water have lots of brick properties but they are much higher in price. I am not sure whether the streets filled with weather board houses will gentrify soon.

 

there are not really any signs of gentrification out that way at all. claremont is a bit better than 15 years ago, but only marginally. it would be much safer to look at berriedale, rosetta or some parts of glenorchy.

 

I would not recommend buying in Brighton (Tas ) my neighbor bought a 3 bdr house there 9 years ago and it has hardly moved in value or rental return . Too far away from the CBD it hasn't got a lot in the way of lifestyle drivers. It also is extremely cold and frosty area - 9 C compared to -1 C in Hobart ! As mentioned before lots of new starter homes and no scarcity doesn't help capital growth.

 

Chigwell is a very low income area ( not a lot of growth on future rental return) i can personally say as my mom has relatives living there that it has not changed since the 1980's when i was a kid. no young urban professionals moving to Chigwell !
Moonah , Rosetta and Montrose are good areas.

 

Thanks for the advice. How about Berriedale?

 

Our last buy was in Claremont . We passed on chigwell . We’ve bought in bogan areas in queensland . Tassie bogans are a class in their own . We met a couple who were tenants in invermay and Mowbray and those are a couple of steps up from places like the lower levels of chigwell.

Cliff