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QLD How is Gladstone going?

Discussion in 'Where to Buy' started by Angel, 22nd Jul, 2015.

  1. Angel

    Angel Well-Known Member

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    Has anything happened in the last two months?
     
  2. Azazel

    Azazel Well-Known Member

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    I haven't heard anything recently but I'm interested to know as well.
     
  3. norwoodman

    norwoodman Well-Known Member

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    The vacancy rates in Gladstone are gradually dropping again, seems to be a lot less movement in rents and prices over the past 6 months than the previous couple of years (i.e. not really dropping any more).

    One of the LNG plants has basically wrapped up construction, a couple of the others aren't too far off doing so either from the looks of things.

     
  4. Samten

    Samten Well-Known Member

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    Was up there 2 weeks ago and talking to locals things may get a little worse before they get better. As Norwoodman said construction has wrapped up and the rest of the plants are laying off locals first before the fifo's, seems strange but that is what they are doing. Could be a bit of mortgage stress coming as there is little other employment there, other ancilliary industries , electricians, engineering also laying off as a flow on effect.
     
  5. Timkot

    Timkot Member

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    Mate of mine in Gladstone went to ANZ bank in the last month for a house loan and was told by them that they consider Gladstone to be a 'mining town' and as such he would need 30% deposit.
    So who knows what is happening other than pain and heartache for many
     
  6. Jenko

    Jenko Active Member

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    With 30% deposits required I can only see the prices heading one way
     
  7. edge81

    edge81 New Member

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  8. Neil Richardson

    Neil Richardson New Member

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    Extremely quiet from my perspective. Gladstone used to keep me pretty busy with a visit every fortnight at times for tax and new construction. Now I have nothing on the books there. Very little new construction happening for obvious reasons.

    The lack of depreciation work is pretty consistent with the virtually down to Nil purchasing of properties by investors. Unless Scott tells me he's busy....

    Agents say that its mainly owner occupiers buying now and that they often boot tenants out to get the new owners in ! It's not like there's nowhere for the tenants to go!

    Cheers

    Neil Richardson
     
    Last edited by a moderator: 23rd Aug, 2015
  9. robbo2621

    robbo2621 Member

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    Another drop in rent for me, currently have a 3/1/2 house renting for $310 a week, tenants have said they will sign a new 6 month lease for $250 a week. PM reckons thats what comparables are going for, I've gone back with $280 a week, will see what they say, fml.
    Early mistakes that keep kicking you in the guts..... anyway, on with it
     
  10. Depreciator

    Depreciator Moderator Staff Member

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    I missed this one. We're doing a few jobs in Gladstone, but they're not recent purchases. We did one recently for a bloke who has had a new house for 2 years and only just heard he could claim this 'thing called deprecation or something'.
    Scott
     
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  11. Azazel

    Azazel Well-Known Member

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    Hehe, good stuff.
    Is he able to claim back to the previous year from now?
     
  12. Depreciator

    Depreciator Moderator Staff Member

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    He was going to have to amend last year's tax return, but it was worth it for a $9,000 deduction.
     
  13. Azazel

    Azazel Well-Known Member

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    Definitely, a bit of a pain, but fortunate for him he realised.
    Is there a time limit on it?
     
  14. Depreciator

    Depreciator Moderator Staff Member

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    It's very easy to amend 2 prior returns, possible but not as easy to go back further.
     
  15. bob shovel

    bob shovel Well-Known Member

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    will there be a "ripple" from brissy up to gladstone? thats probably a front runner for anything happening but seems unlikely.
    seems like prices are back where they should be, but will the amoun of stock hurt the area for a while yet to come.

    another topic, what are everyones rates like? Im in a group on Facebook for general gossip around gladstone (used to live there, bloody hilarious page most of the time) but they are all up in arms over recent council rates increases. some of the numbers they are talking sound like they are double what they should be! average house and block $3k+
     
  16. Whishy

    Whishy Well-Known Member

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    Stopped in there a couple of weeks ago on my way up to Rockhampton to sell my house in Allenstown.

    It was a Ghost town compared to the 4 years I spent there to 2014.

    Not looking too good either with no work on the cards for anytime in the future.
     
  17. Arnoldus

    Arnoldus Active Member

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    Not familiar with how much Gladstone rates are, but 3k is on par with what you'd pay on a decent block of land in a nice suburb in neighbouring councils (Bundaberg and Rockhampton).
     
  18. Angel

    Angel Well-Known Member

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    Rates - bang on $3000 without the discount. That includes water connection and six months of water usage. 690m2 block of land about 5 kms from cbd. It's cheaper than North Lakes when you add all water and rates together. Insurance is just under $2000.
     
  19. bob shovel

    bob shovel Well-Known Member

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    I'll have another read. Apparently they are (the mob!) saying a 10%+ increase.
    the vocal ones aren't happy as their property prices have dropped 40k and feel rates should go down to
     
  20. Angel

    Angel Well-Known Member

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    The general rate did go down. Just the price of all the add ons went up.

    I just got my rates notices out and compared the two years again - mine has gone down overall, about $170.