TAS Tasmania

Discussion in 'Where to Buy' started by Darlinghurst Boy, 1st Aug, 2015.

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  1. RedMarty

    RedMarty Well-Known Member

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    @Sam Yue and @See Change
    Does tassie or the council have flood maps for the areas in launceston ?
     
  2. Sam Yue

    Sam Yue Well-Known Member

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    Yeah, @RedMarty, the following page gives some maps:
    http://www.launceston.tas.gov.au/lcc/index.php?c=174

    (include maps:
    100 Year Flood Innundation Map if No Levees
    High Tide Innundation Map If No Levees
    Invermay Flood Inundation Map)

    But it said the levees can be breached. After breach, in 12 hours, almost everywhere is flooded in invermay.
     
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  3. RedMarty

    RedMarty Well-Known Member

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    @Sam Yue thanks for that. Did you have property there ?
     
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  4. RedMarty

    RedMarty Well-Known Member

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    @Giuseppe

    Any places you liking to invest into the moment ?
     
  5. Sam Yue

    Sam Yue Well-Known Member

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    No,.I do not have, @RedMarty.

    I tossed around about buying hobart or launcester. The properties in launcester are cheaper and better yield. Though I do not know whether the building insurance is expensive or not in invermay
     
  6. C-mac

    C-mac Well-Known Member

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    The flood risks in Launceston did turn me off it a bit, though the 'gross' yields are good.

    Remember with Tas you have a lot of higher costs. PM fees, local legal/conveyancing, stamp duty upfront.

    Even (to a degree) the 'island effect' of higher trades, maintenence, and reno costs.
     
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  7. Sam Yue

    Sam Yue Well-Known Member

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    Thanks @C-mac for the info. Which areas did you buy properties in Launcestion? Are you still buging?
     
  8. C-mac

    C-mac Well-Known Member

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    Hi Sam, no I did not purchase anything in Tasmania (at least, not yet!).

    I am not adverse to this market. It has worked for a number of investors on this very forum. I just think that with the higher MGMT costs, and what is likely to be more muted capital gains in comparison to some other markets, in my opinion (and what would work for me, it may be different for you and others!) yields need to be pretty high for a deal to stack up.

    And by pretty high, I'm thinking 7%+ as gross yields, ensure that those yields then net out to a comfortable figure after all of those higher costs. Think about it, Hobart has had a mini-boom afer 10 years in the doldrums.. if you were to buy in now and hold for ten years, there is a risk that you won't see much CG for a good while. Even to keep in line with inflation (to ensure you arent at least losing money!) Tas would need to grow at 2% per year, just to break even. This means a yield strategy could be vital to see actual gains out of a Tas buy.

    Deals of 7%+ can easily be found in Tas, but of course most of them are not good locations and certainly not investment-grade.

    Parts of Hobart might offer good investment fundamentals, and if you are lucky, 6-7% gross yield levels.
     
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  9. See Change

    See Change Well-Known Member

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    My personal thoughts are that the recent price movement in Hobart is just the beginning . I haven't had a close look at Hobart prices in the last months but my understanding is its moved around 10 % which is really not much at all

    It has low vacancies . We have had a property in Hobart Since the early 2000's .

    We looked at buying more in hobart but ended up buying a couple of properties in launceston which were grossing closer to 8 % .

    By coincidence the owners of both bought them around 8 years ago and we paid the same or lower than the price 8 years ago .

    Melbourne is still moving up so IMHO what has happened in Hobart is the value buyers are positioning themselves with good buys before the main herd arrive , which won't really happen until it's accepted that Melbourne is peaking .

    I'd be having a close look at invermay myself . The recent floods might have put a scare in the market , but the reality is that the recent floods were the highest on record and the levee's did their job and protected the area . We did look at the area before but found better deals in launceston and south launceston .

    Cliff
     
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  10. Sam Yue

    Sam Yue Well-Known Member

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    Thanks @See Change and @C-mac for sharing the thought and experience.

    I used to use PriceFinder to lookup property and suburb information. But it looks like PF doesn't include Tasmania in its data set. Anyone knows which similar tools can be used for Tas as long as it is not too expensive?
     
  11. RedMarty

    RedMarty Well-Known Member

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    Anyone use this BA in Tasmania - My Property Hunter ( Rob Zubin) ?
     
  12. Whiteman

    Whiteman Well-Known Member

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    Yes I have ... Found him to be very professional, reasonably priced and thorough in his assessment of the property. Handled the negotiation well and sorted a price discount as a result of problems that came up in the building inspection. Purchase was in Sandy Bay and I found the property initially and had him act from there onwards. If I were to buy again in Tas would have no hesitation in using him again (however that is unlikely as one property in Tas is probably enough for me at this time, any more and I'd feel to heavily weighted down to that state) ... Redmarty if you wish to discuss specifics please feel free to PM your number, happy to confirm over the phone.
     
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  13. Balman

    Balman Well-Known Member

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    So who is the best/ recommended BA in Tasmania?
     
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  14. legallyblonde

    legallyblonde Well-Known Member

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    People in Tassie are very unique.. I just majorly LOL looking on gumtree.. There is a wanted add looking for a house to rent: "I tend to keep to myself, but I'm not a Unabomber type either."
     
  15. legallyblonde

    legallyblonde Well-Known Member

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    If anyone is looking for a very unique commercial investment this building looks very royal
    27 Pirie Street New Town Tas 7008
     
  16. radson

    radson Well-Known Member

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    We're using Rob's services at the moment as well.
     
  17. Anki

    Anki Active Member

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    How much he charges?
     
  18. RedMarty

    RedMarty Well-Known Member

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    Would love to hear your experience when you have concluded
     
  19. radson

    radson Well-Known Member

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  20. Whiteman

    Whiteman Well-Known Member

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