TAS Time to Hype Hobart Thread?

and would you believe there was a poll/thread - Where would you buy Tassie or Adelaide? In the main most on PC voted Adelaide, yet Tassie is booming......not sure why investors do not pay attention to rising markets, easiest way to make money, yet they follow the herd.....

Days on the market for some areas/suburbs only 5 days.... I may have to jump in

MTR

 

Recent commercial deal in Hobart

I've already picked up my little slice of the apple isle in May 2016. Was assisted by Rob Zubin of my property hunter after i identified the property. Nicky his property manager handles the property management and i think does a great job. Cash flow positive and no headaches yet. One year on and I'm happy, but thats probably enough Tasmania in my portfolio for now.

 

This is almost our exact same situation.

 

You'll have to move quickly . We mainly watch the new town , moonah , Glenorchy , Claremont corridor .

Moonah is going up strongly and now the wave is hitting Glenorchy , Claremont .

Many of the places listed in re.com.au are under offer or sold . Our latest purchase is still listed as for sale even though it's now unconditional .

Not many houses around under 300

Cliff

 

Hence that's why I am more interested in your post and information in Launceston. I've also looking at Burnie as well.

 

Out of interest, what are the key economic drivers you're seeing for Burnie, or is it because Tassie, as a region/state is increasing?

 

some people think long term and not short term.. keep in mind it possible your strategy may not be the best strategy

 

The state luring more of Australia's prestige buyers than ever before

 

Ok, I was originally seeking properties in Launceston (Invermay) as I thought I missed on the Hobart boat. Within the last couple of days I see Pure Property and Rethink Investing posting properties they bought for their clients <300 (285k with dual income for 450/week rent but not sure where this is, 220k for 310/week in Hobart, 258k for 330/week in North Hobart). Anyone suggest where or how to get these deals?

 

I've seen their posts. They say 'North Hobart' but I'd say there is no chance any of the mentioned properties are actually in the suburb of North Hobart. It's way to a desirable area to be at that price point or be receiving the yields mentioned. They must mean north of Hobart, I would guess a fair way out.

Edit: When I say 'fair way out' I mean 10km +. Very different to Sydney/Melb etc.

 

Just saw this one yesterday
308 Bathurst Street West Hobart Tas 7000 - House for Sale #125410550 - realestate.com.au

Would be great for someone handy. And depends what "high" means.

Fantastic location

 

I agree, no way is it the actual suburb of North Hobart.

 

I did see this one. Would be amazing once done up! Great potential for increased street appeal I actually rented in West Hobart once upon a time. Such a great location!

 

Yep when I commented on the post saying that it was misleading to put "Hobart" without giving us the distance to the CBD. My comments got deleted and I got blocked from commenting on anything there! Great way to get more people on your books! I reckon they do this with anyone who questions their marketing strategy and this is very bad practise.

 

Hi All

Interested to hear thoughts on how manageable an IP would be in Hobart when living in FNQ - no direct flights you see. All previous purchases have been in cities with family nearby to 1. give eye over prior to purchase and before committing further and 2. keep a general eye on the property post-purchase. We also have no other reason to visit except for holiday/property - no family or friends living in Tas and with the new budget announced....

I like the "idea" of Hobart - my wife (girlfriend then) and I visited in about 2000-2001 and could not believe the value you got (we stayed in Sandy Bay) driving around the place. Pity we never purchased! Traralgon VIC was another one of those places then - could buy commercial property in main street for $125K.

 

We have a block of units in Newtown bought in early 2000's .

I've never seen it . Bought it subject to inspection and wife checked it out . Probably wouldnt have agents interested in subject to inspection at the moment as it's too hot .
She's seen it , maybe 2-3 times since then . We are going to give one tenant notice soon and when it's empty we'll go done Nd work out exactly what we want to do . First time I'll see it

Cliff

 

I understand. We've been also thinking "subject to..". Just seems a long way to go to visit your property without really knowing the PM (our previous PMs have all been know to our families).

 

Still seems a long way to check on a property - my wife remains concerned.

 

Western Australia recorded the lowest through the year wage growth of 1.2 per cent and Tasmania the highest of 2.3 per cent.

6345.0 - Wage Price Index, Australia, Mar 2017

 

My humble predictions is that Tassie and Adelaide may experience an increase in the next couple of years due to the changes in the lending market. For someone to save sufficient income for IPs in the late $400 to 500ks is going to be extremely tough.