I think it’s time. Plenty going on up there mining wise. Mine extension in the Bowen basin with 1000 jobs, Adani will get up, investors priced out of Sydney and Melbourne chasing yield. Will be happy times for Mackay, Gladstone, Rockhampton in the next few years I feel. Discuss.
Here at ground zero. On the ground. Lot of hype but not seeing it filter through. I'd still tread cautiously. Developers and land clearances have been moving for 6 months in preparation. I see new land release signs popping up. Vacant land being heavily marketed again. Sales are still slow. Rental market is tight. I think diverse economies that mining is a contributing factor and not something that underpins its success, will do well. Needs to have the lifestyle drivers and infrastructure to keep people. Not just the jobs.
Agree @wilso8948 thats why I like Rockhampton. Has the cattle industry as well. Where are you located?
I'm in Mackay. Probably a bit like Rocky. Enough to keep you interested with all the 'essentials' but I think it lacks on the lifestyle front to keep large populations here on a long term basis.
There was an interesting piece in yesterdays (May16th) Australian by demographer Bernard Salt, showing changes in QLD long term population growth projections (2018 versus 2015), as prepared by the Government Stats office. Whilst the overall QLD forecasts didn't change too much from the 2015, there was some significant movement across the LGA's. These 2018 forecasts showed increases in Brisbane, Sunshine Coast, Moreton Bay and Logan LGA's. Conversely, population growth forecasts were slashed in Gladstone, Townsville, Mackay, Central Highlands and Fraser Coast regions Not my analysis, so take out of that what you will.
Any link? Would be interested to take a read. Bernard Salt's 'previous' forecasts are actually spruiked a far bit up here and to press on priority development areas and infrastructure. As if there is going to be some sort of population boom when in reality diving into the numbers its actually quite conservative.
I don't sorry. I have hard copy. Online is subscription only. Go to Bernard Salt's Linkedin and you may be able to read directly from there.
My question is why would you buy in QLD regionals when there is plenty of good buys in Brisbane? I just wouldn't gamble on QLD regionals.
valid point however if you are an educated buyer and can buy in the 'best location' or a good development block in these regionals for the same price as an average area in Brisbane then its worth a look the inexperienced investor is better off sticking to Brisbane as its a bit more foolproof
I am not seeing that on the ground. Under contract I have a 600m block, good development potential due to zoning ,with a house that needs a reno, walk to water, walk to rail, excellent location, 17km to Brisbane in one of the "hot spots" - $310K has previously returned $400 per week. Don't think it is about being "inexperienced", I think QLD regionals aren't stacking up.
im pretty sure you misinterpreted my post yes Brisbane is still a no brainer with good deals to be found i said inexperienced inbestors are better off stickimg to brisbane because they typically buy newer/ lower maintenance stock which is not a good idea in qld regionals i say this because the build costs are higher, the purchase prices are probably similiar to outer Brisbane but the land they have purchased/built on in a regional town is worth stuff all At least in Brisbane if they do this their land is probably worth circa $200k The reason i wouldnt rule out qld regionals is because noone else is interested at the moment. Good deals if people know what they are looking for FWIw im not a huge fan of Mackay, Gladstone, Bundaberg However over the last couple of years i have seen some crazy sales in the Gladstone market, Blocks of townhouses/ units selling for under 50k per dwelling etc So.i wouldnt rule anywhere out
@strongy1986 makes very valid points. Absolutely no sense buying up here without local knowledge. The new land releases are developed on dump land. Think swamps, marshes and highly reactive soils. Take a look at Townsville. The major hit suburbs were new land developments. I wouldn't be looking at Qld regionals without some foundational IPs in place first. Even then I would stick to the majors ie. Cairns/Townsville>Mackay/Rockhampton>Gladstone/Bundaberg IMO.
Adani delays lead Annastacia Palaszczuk to ask Coordinator-General to intervene - Business - ABC News (Australian Broadcasting Corporation) Time for Rockhampton to rise. Liberal government elected, rate cuts coming up in the next few months, vacancy rates well down on the past few years, Adani mine now likely to be approved = growth period coming up.
Interesting if you could find some areas with some reasonable rental demand with not excess supply, a quick search showed a number of unit blocks returning well over 8% yield (claimed) in regional Qld. Obviously DYDD but it would likely appeal to some chasing some yield but again would want to check it out carefully for risk involved.
lots of risk on the old unit block for sale in regional areas Its the investment that is never meant to be sold ! it should be am easy hold with great cashflow rates and water costs are way higher than a house so 8percent yield is not attractive in some joints the rates and water can be 2.5k per unit.... and you have a high vacancy risk only for those that are prepared to do the hard yards
I think it might not be a totally stupid idea to get in now but you need to get out at the peak because Queensland regional towns fluctuate big time as we've seen you need to get out at the peak of the mining boom
