Townsville vs Sydney?

Interesting insight Jen,

How do you seem Rockhampton performing compared to Cairns and Townsville. Seems to be fairly flat for the past few years and not sure of the future potential but there seems to be some good buys to be had.

 

From my perspective, the perceived holding costs, particularly in relation to insurances, are quite a bit different from the actual holding costs.

The reality is that you can now insure a 4 bedroom house in the North Queensland region for around the $2,000 mark, which I wouldn't describe as 'exorbitant'.

Sure, there is a history of massive insurance price hikes. However, those people still paying high fees definitely need to shop around!

 

Interesting, thanks Jen. My little brother lives in Railway Estate so next visit I might do some due diligence.

 

Hi Jen,

Being on the ground up there, would you have Townsville at say 7pm on the property clock ? I have a nice property in Douglas and it has not moved for 5 years. I wont sell because I feel the good or better times are just around the corner. Rent holding its own too.

 

Hi Dan
Thanks. This probably isn't the right place to discuss Rocky. However, in my view, Rockhampton is still subject to the post-Gladstone effect, and post cyclone recovery. So quite a bit behind Cairns at least. Yes, some good deals to be had, but watch out for high vacancies and accompanying poor yields. Personally, I'm still waiting for my roof to be replaced!
Regards
Jen

 

Hi Bigmaan
I think the Townsville market is very mixed. Herron Todd White puts it at 7 O'Clock. Personally, I think it's more like 6.30pm! Having said that, I'm finding that certain houses, in certain suburbs, in certain price ranges, are moving quite swiftly.
Regards
Jen

 

Townsville is as flat as a tack

Great buying there

However on the insurance thing

We have to pay 3500 with top excesses which is painful
I have just found a better deal for 2,700 and trust me I have shopped around

The valuer valued our house replacement cost at $435,000 - which is the cause of the insurance problem

We only paid 398 for the house on a 800 block....

 

From a pure desirability perspective I don't see how Rockhampton can compete with cairns or townsville

Coast will always outperform

Having said that - I'm sure there's plenty of money to be made in rocky if your not just a buy and hold type

 

Have you tried Youi?

 

They don't insure 4810 anymore

That's what the online quote told me

About 50% of insurers just say they don't insure the area

 

Okay, I have found they have the most competitive quotes or they don't insure in an area unfortunately.

 

What areas have you gone through them?
Cairns?

 

I tried to get a quote for my PPOR from Youi a few years ago. They said they didn't insure my area at all due to flood risk. This was in a suburb of Ballarat & on a hill. It would take a flood of biblical proportions to flood that place.

 

I've started a thread to focus specifically on the North Queensland insurance issue here:
https://propertychat.com.au/communi...d-whats-the-go-with-the-insurance-issue.1171/

Cheers

Jen

 

Hey @JenJen , I got en error when I clicked on that link?

 

Thanks, Azazel. I've updated it now.

 

Won't insure my property in Orange but use them for various Bn suburbs, Redbank Plains, Tamworth, Elizabeth,Rockhampton,Paralowie and north side of Cairns. They won't insure a property on the Southside of Cairns for some reason, its a different post code. I was told that they currently lack detailed data for some areas so say no.
I have made a claim with them recently and found them okay.
Sorry to derail the thread.

 

I am using YOUI for my Douglas Townsville Property. Found them good.

 

We bought in Townsville in around 2004 and doubled our money over next few years . We also bought in rocky around the same time and did well there .

I haven't done any dd on Townsville recently . At the moment Brisbane is starting to move and we're buying there . Once Brisbane has started moving significantly and if we can buy any more Townsville is on the list of places to look at , along with rocky and a few other places

Insurance on cheapies in brissie is just over 1 k , so 2 k isn't exorbitant . We just turned down a cheapie which was on the edge of a zone in a flood map . Agent assured us it hadn't flooded , but that didn't stop the insurance quote with flood cover coming in at around 6 k ....

Cliff

 

Hi See Change. Good job you got your insurance quote up front!