NSW Start buying in Brewarrina and Bourke

these areas in the outback of Nsw are forgotten when it comes to investors

Bourke is a thriving town

 

They are sub 2000 population (Brewarrina is 1200), what are the drivers you see to start buying?

 

How many PM's in the town?

 

Are you serious? There is a very good reason why the 2 towns you mentioned have rather small populations and anyone with an ounce of sense understands why. On what grounds would you invest hard earned money in these locations?

 

You will find in these towns there are high numbers of renters , and once again the Renter or tenant is the Dept of housing ,

 

How about you buy some and let's see how you.

 

Do you own properties in either town?
What is your experience with tenants there?
Marg

 

Yeah, its going nuts, lets all jump in.

Bourke clocks lowest population growth rate in NSW

 

Why would you when you can buy property like this only 30 mins from Gold Coast and approx 30 mins to Brisbane CBD? Purchase price 220k renting for $300 per week. 2 bedrooms plus study/small 3rd bedroom.

Property Report for 15 Cowper Avenue, Eagleby QLD 4207

 

This discussion sounds very familiar....
How did you go with your last ultra regional purchase? Have you purchased?
How is lake munmoron tracking?

 

I'm new to PC, but I'm sorry. I work in those areas occasionally.
You will be CONSTANTLY replacing smashed windows, and have other damage occasioned to your investment.

 

There's a new $60mil goat abattoir going in at Bourke which will bring around 190 jobs. It's about all they've got but it will be a big boost to a town that size.
The last Sydney boom rippled out through regional NSW and made it to these areas eventually believe it or not. By the time Sydney had downturned these places were booming and showing much better 3 year growth than the best Sydney suburbs. From memory Walgett had the highest annual growth rate in NSW at the time. Some of those Western towns went up 20-30% in 12 months. Mind you the houses were probably only worth about $20,000 back then.
I've kept an eye on them ever since but still haven't been able to bring myself to buy due to the risks already pointed out.

 

Brewarrina has as many people in social housing as it does owner occupiers at 35%. Bourke is a bit better at 22% of the population in social housing. Not a huge private rental market in either sub 15% of dwellings are traditional rentals. None of which adds up to "buy here".

 

Interesting, would you have the same figures for Coonamble NSW?

 

Last time I was in Bourke we got chased out of town. Not by coppers but the local indigenous. They were crazy as hell. Never give them any cheek.

 

Goodluck to you.

 

Troll!

 

You shouldn't have told them that there was wine in the sump of the VL.

 

Coonamble is only 8% social housing, 65% owner occupiers.

 

Coonamble is my pick for a high yielding cheapie with nowhere near the problems of other western towns.
Still haven't been able to bring myself to do it though.