QLD How is Gladstone going?

Can you show me some examples for $300 to $350k please.

Thanks

 

That's exactly what we are thinking Bob.

 

For the "pro investor option" this would be probably be a better option but moving into something and renovating is a good learning experience. Especially as he's only young.

He could go down the BA route or just take a drive down to brissy for the weekend to check out the "hotspots"

 

Barney Point is an odd one. They've made a nice upgrade to the park and the beach area and the caravan park (now its a little "holiday" village) since I lived there. Waterfront sites are generally good, but the southern side is exposed to mudflats and mangroves (sandflies and mozzies). That end, the "Mercure/Yaralla Sports Club" end has a fair amount of housing commission homes and I think that has slowed the often-touted "gentrification" considerably. I think that the coal stockpiles will go, but the port will likely be adapted for other freight.

So eventually you'll have a nice little beach at high tide, surrounded by a cleaner port facility, a rail line, and mudflats... I think that only waterfront properties will be winners here unless more money is thrown at redevelopment. I can't see that happening for a while. There's too much focus on revitalising the main street.

 

For interest's sake, I was considering moving back to Gladstone in late 2014, when the wave of mining redundancies hit Perth (and me). We were just looking at at sale prices in Gladstone, which were cooling even then.. I remember this place 21 Wentworth Place Glen Eden Qld 4680 - House for Sale #122488830 - realestate.com.au was advertised for around $460k... It's a new build, and I don't think has ever been lived in. It's had a nice coat of paint to make it more appealing since I looked (it was brown originally)

@Jenko Much harder to find lower-risk investment potential in the 300-350k bracket. To me, low risk would be spending as little as possible in areas with desirable features... In the 300-350k bracket maybe something like this? 17 Amelia Street West Gladstone Qld 4680 - House for Sale #122230742 - realestate.com.au
It's in a nice pocket of West Gladstone, even though it's an old Dixon home aka "shoebox", but some creative thinking could add some value in the future. The exterior could use a facelift and I'm thinking that turning the carport into a deck to enjoy the views (that can't be built-out) and seabreeze. The front yard needs proper fencing and terracing too.. I'm guessing though that it means reconfiguring the layout upstairs...

I'd be tempted to spend 90k less on the house just up the street... 9 Amelia Street West Gladstone Qld 4680 - House for Sale #122626706 - realestate.com.au
if the views were the same. It just needs a fresh coat of paint and some new carpets..

Alternatively you could throw a cheeky low-ball offer at one of the Catalina heights houses.. on either Clipper or Dolphin Terrace. 2 there going for $499k. Cheapest I've ever seen them, even pre-boom.

 

I'd go for that one.200k with views is a bargain. Plus good reno practise. Need to find those premium spots to take advantage of the prices

Prices are hard to judge off medians as the new stock has bumped things up but they are definitely less than pre boom prices. We were there in 2009 and 14. 2009 270kish would get you a basic 3x1 around West glad and the hospital area

 

Yeah, sorry. That's so true about the workmanship.

 

More houses to become available to rent as the mining companies are renting to the pleblic as the crews move on

Landlords struggle as mining companies rent out vacant Gladstone homes

 

Anyone got any news on gladdy?

I'll be there in a week and will be interesting to see how things are going. We were last there end of 2014 and things had started slowing but very different now by the sounds.

Might have a chat with an agent or two while I'm around maybe kick some tyres to see what's around

@Jenko did your son buy anything?

 

@Ems any luck selling?

 

No luck Bob. It's been on the market for around 6 weeks now with no interest whatsoever. We are contemplating taking it off the market, fixing it up and renting it out. We are probably looking at around $10,000 injection of funds with a potential rent of $100 a week. Or we can just leave it on the market and hope a buyer comes in. Either way we are out of pocket by a considerable amount each month. There's no good news for us unfortunately.

 

Sorry to hear. Can you get the agent to advertise for sale and for lease plus do repairs? Cover all fronts that way?

What work needs doing? I could take a visit for you if you need more photos or a fresh set of eyes?

 

Anyone else see this one BREAKING: 'No fifo': New $2.5b project to create 1800 Gladstone jobs

I know theres been abit of talk about it, great that they are only looking to go with local workers.
Hopefully it goes ahead.
Shame the oil refinery is taking 6 years to get going as thats the big part of jobs. But at least its something for us gladdy investors to hope for

 

With the amount of houses vacant they don't need to get fifo, plus with the slow down around the country ex Gladstone workers will come back.
But. ... until it actually starts it could just be another pie in the sky. A number of big jobs have come close but don't get off the ground.
I'm not familiar with this one but given the savings by not having to pay fifo plus no longer in a construction boom wages should be lower also. So could be a viable project without having the exorbitant wages to cover

 

Yes agree with ex Gladdy workers coming back. Was talking to a neighbour when I was there last and he knew a few guys that shipped over to WA, they were just waiting for anything really to come up so they can move back. Good to see people actually want to move back, they do like their town.
The projects would hopefully fill some of those vacant houses to help level Gladstone out a little bit.
But like you said Bob, all just pie in the sky stuff until they actually turn some dirt

 

Even turning dirt guarantees nothing. The Aldoga Smelter started earthworks so they didn't lose their licences etc, while they were still finalising cost estimates / business case. That smelter never went ahead...

 

I dont know much about gladstpne but for 269k that wentworth place one is terrific value. Brand new house virtually.
Thats virtually replacement cost

If you were goinf to have a ppor in the area and you werent mining job dependant it would be like a kid in a candystore scenario!

 

I haven't looked at re agents or online but it does feel quieter around town and less of the island work and logo's around.
The shops at kin kora (stocklands, main shopping centre) has all the same shops and only one vacancy i noticed but that was always changing and a bit of a pop up shop.

The local pcyc markets probably at 80% of stalls but people going through and spending was down a lot.
Lorna jane still open so I'll see next week if the mums are out shopping in their gym gear eating doughnuts still

As a place to live it's a pretty good spot (ignore the industry for a second ) there's heaps to do and lots of parks and activities for kids and families. Close to beaches, dams, bush and all the staple shops, more than enough for my liking! There's 3 woolies, coles, kmart, target, big w, spotlight i think, lincraft and more

 

I was just looking at this out of interest in other areas, but the figures for Gladstone may be of interest to some here. Maybe light at the end of the tunnel?

Latest population figures: Top 50 cities in Australia | .id blog

Area - Gladstone/Tannum Sands
Population July 2015 - 49,248
5yr growth - 7,226
5yr % growth - 17.2%
1yr growth - 1,232
1yr % growth - 2.6%​

 

No Bob he hasn't bought yet still looking at the moment, he/we are just keeping an eye on the market atm. We are thinking maybe closer to Christmas. He finishes his apprenticeship next month so we'll make sure he has a permanent job and we'll have a better idea on the what's going on with the alumina industry and property market by then...... Hopefully