QLD Rockhampton

Discussion in 'Where to Buy' started by The Grinch, 9th Dec, 2019.

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  1. The Grinch

    The Grinch Well-Known Member

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    We have seen 7% growth this year in rockhampton as well as increase to rents.

    Not saying this is the next property hotspot but things are appearing to move in the right direction. Just wondering who else has been keeping an eye on Rocky or surrounds and how people who currently own there feel in regards to their IP.

    All thoughts welcome.
     
  2. Codie

    Codie Well-Known Member

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    Would you mind sharing your data? Everything im viewing shows huge days on market, negative to flat growth over the last 12 months, however the one thing going for it is vacancy rates starting to get tight.
     
  3. bbinvest

    bbinvest Member

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    Where are you getting 7% growth data from?! I have been following it for most of this year and just don't see this.

    I actually just sold out out of Rocky at a loss.
     
  4. The Grinch

    The Grinch Well-Known Member

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  5. Codie

    Codie Well-Known Member

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  6. The Grinch

    The Grinch Well-Known Member

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    To be honest I didn't even look at the unit data as I'd personally never by a unit in a regional like rocky.

    Small sample size of course and fair points made. That being said do you expect rocky to continue to drop or do we think it may bounce back.

    I understand it is a small sample size but as a median growth rate Id much prefer to see it going up rather then down.

    I think adani is still going to be a big factor.

    That said the cashflow and tight rental market make it appealing for those chasing cashflow for serviceability.
     
  7. The Grinch

    The Grinch Well-Known Member

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    May I ask why you sold out?
     
  8. thatbum

    thatbum Well-Known Member

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    But what's the point if the statistic has no actual correlation to changes in property values on the ground?
     
  9. willair

    willair Well-Known Member Premium Member

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    I was up there about six weeks ago with a mate who has done very well investing through the boom doom but only on the main road in and out and going by all the fore lease for sale ring up the bank signs outside a mid range on that road he may have timed it perfectly .

    There is only one road in and out ..imho..
     
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  10. TMNT

    TMNT Well-Known Member

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    21 sales in 12 months indicates a very slow market for a town of that size and population
     
  11. See Change

    See Change Well-Known Member

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    We did very well out of Rocky in the last boom , as did many property chat members and I check it out quickly every so often . I will be happy to buy back in at some stage .

    Had a quick look at the stats on sqm and REA and nothing I saw said now was the time to buy ( and nothing to suggest a genuine 7 % increase )

    Personally I wouldn't expect that time to occur until Brisbane is booming.

    If you were a local , who was patient and prepared to spend time looking to get utter bargins , maybe ... But I can think of a few places to buy before Rocky .

    Here are my thoughts from a couple of years ago ...

    Rocky , The next Big Thing ??

    Cliff
     
  12. The Grinch

    The Grinch Well-Known Member

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    I guess we will just have to monitor over the next year.
     
  13. The Grinch

    The Grinch Well-Known Member

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    Great insight, perhaps I didn't look into it as well as I should have. Will continue to keep an eye on it iver the next few years as I currently have plans to purchase elsewhere in QLD over the next few years.

    Great post, will give me some bedside reading! Cheers mate!
     
  14. Codie

    Codie Well-Known Member

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    I honestly don’t know enough about the area to comment on it bouncing back or not. What I do know is there’s many parts of QLD that are at a better stage in the cycle with vacancy rates in the 1s, bigger towns with larger economies, cairns & McKay for example has a tight market and rents are lifting. I haven’t looked but may be a safer option?
     
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  15. The Grinch

    The Grinch Well-Known Member

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    Definitely agree, I currently live in cairns and think that now is the right time to buy up here so long as you understand the cairns market and what you are after I think someone could do very well here for both CG and CF.

    Have just been interested in rockies from a CF and cheap entry point of view to help service the portfolio.
     
  16. investoradam

    investoradam Well-Known Member

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    Rockhampton floods regularly and has been very badly hit over the years so be careful where you buy.

    it’s rather low so economic with its glory days behind it it is serviced by several coal mines (high quality) along the road side on the way to emerald with a few more coming on to line in the next few years
     
  17. bbinvest

    bbinvest Member

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  18. bbinvest

    bbinvest Member

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    Note that these stats are for Rockhampton City only - the greater region is made up of much more than this and has had more sales than this.
     
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  19. spludgey

    spludgey Well-Known Member

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    I've got two in Park Avenue. Seems like there's some very slight upward movement. Vacancy rates are actually very reasonable.
    Still my worst IPs, but things are finally looking up since I bought 7 years ago.
     
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  20. Icarus

    Icarus Well-Known Member

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    I've got 2 on the Northside of Rocky, valuations have dropped approximately 50% from peak (2012-13) and are probably now on par; with the 2nd slightly below 2010 purchase price.
    I've just bumped the rent up $5pw on the first, and have been doing a cosmetic reno on the 2nd, which hopefully should see a $40pw rent increase ($7k spend).
    A good mate (local) couldn't stand any further bloodletting and recently sold at a $60k loss - property was on The Range and purchased a year or two before peak.
    I was up in Rocky a few months ago, and while there's been a kick on in mining in the Bowen Basin, I can't see major improvements in the Rocky market as yet.

    Maybe now is a good time to buy?
    Possibly there are better options around at the moment too.