QLD Rockhampton, Townsville and FNQ

Its just pessimists.

Seriously, evertime something/anything happens, pessimists shout market crash. I've been hearing it for 20-30yrs now lol.

Covid - omg market will crash
Rising rates - omg market will crash
Labour will win - omg market will crash
Liberal will win - omg market will crash
War in Ukraine - omg market will crash
Floods - omg market will crash
Bushfires - omg market will crash
Trump won - omg market will crash
Bidien won - omg market will crash
Elon Musk bought twitter - omg market will crash
Wall street crashed over night - omg market will crash

You get my point.

 

Definitely agree. My previous comment was on SEQ and other non qld locations. I am bullish on North QLD myself and have bought three properties already since March till now.

 

Where specifically mate? And what is your thesis on the region? Always nice to get others investment case.

 

Have heard from agents of quite a few dates in NQ that are roughly at replacement cost. That's a big improvement already from 5 years ago.

By NQ are you talking Townsville, Mackay or fnq, cq?

Just curious on others Townsville related thoughts as I'm thinking of selling one or two places there in the next 9 months but it would be good to hear perspectives on whether I should hold off a while or pull the trigger in the next couple of months.

 

Can I have a copy of the excel sheet?

 

Pm me with your email address.

 

Dunno how to...
[email protected]

 

Sent it already. Did you get it?

 

How is the sentiment in Townsville and Rockhampton friends? I've not heard or read too much.

 

For Townsy and Rocky, Ive noticed the slowing down of purchases and offers to purchase. Vendors are actually giving bigger discounts now.

Bundy is hot still.

I just think it's a reflection of the 2 sudden rate hikes. It's definitely spooked uneducated investors.

But any investor who's done research can/will back themselves and double down on purchasing now. I know I am backing myself..... in the middle of a settlement now.

 

This is Sure Insurance. I must be doing something wrong

 

Would you say there's been little change on the owner occupier front? I've heard from a couple of agents some pretty high prices on unconditional under contract properties. I'm only up to date with a couple of suburbs and all were less than 10 yo properties so maybe not reflective of the market. Which suburbs have you noticed vendor discounting in?

 

Hi,
Would love to know this threads thoughts on investing in Mackay vs Rocky or Bundaberg. Looking at duplex with 2units with 2beds in Bucasia, one street from the beach with positive cashflow but wondering whether I'd get greater capital growth in Rocky & Bundaberg vs Mackay. We already have 2 in Townsville.
Many thanks, Sam

 

General rule for me - Duplexes in Nth Qld are for cashflow/yield not for capital growth. Pair this with a capital growth play in a different region to offset costs.

Also Bucasia is ok (maybe not for a duplex though..). I'd stick near the beach so East of Mackay Bucasia road.

 

Not so much the suburbs, but the price range.

Few months ago anything sub 250k-300k was getting 10+offers. They were selling lile hotcakes.

 

Yeah i make these trade off plays sometimes. Few years ago, I bought a $135k house in tamworth just because the rent was $300.

So the net result is that i put down like $20k cash and i get $1200 per month.

Had i put $20k in a bank account, it would only return $30 per month or so at the time.

 

Thanks for your reply, the immediate return is very appealing ($750 combined rent) with a buy price of $420k so yield is great, would one street back from the beach near high school not make strong capital growth? Or best to look at investing in Bundy & Rocky instead with $450k +?

 

Do you still have the house in tamworth?
What are your thoughts on investing in this duplex at $420k with $750 rent in Mackay or invest in Bundy or Rocky instead?

 

I do still have the tamworth place. In terms of cf, this house nets +$7k after all expenses and mortgage. It keeps all my other properties propped up. In terms of cg, this is valued around $220k. Pretty stoked that all i chucked in was $20k and i get $7k cf per year as well as ~$80k in cg.

$750 ROI on $450k is bl00dy great! You jist have to figure out if Mackay will grow faster than Rocky/Bundy.

 

They dont like insuring investors....
Also they dont provide proper landlord insurance - ie tenant damage not covered.....

Posters banging on about SURE are for PPOR

I think suncorp is the best option... not the cheapest but probably more reliable