Townsville vs Sydney?

Discussion in 'Where to Buy' started by JenJen, 6th Jul, 2015.

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  1. Azazel

    Azazel Well-Known Member

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    Yeah, houses of course.
    It's interesting looking at some of the flood maps, especially when you're familiar with an area. When it rains, it really rains, transforms pretty quickly.
     
  2. bob shovel

    bob shovel Well-Known Member

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    @See Change have you bought in Cairns previously? Also I don't want to see a "why I bought in Edmonton" (Or other Cairns suburb) thread come up! Cause then I know it's to late :D or I need to be quicker
     
  3. See Change

    See Change Well-Known Member

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    Bob

    Every time I've posted that type of thread , it hasn't been too late . I've posted details of when we bought in Rocky and when we bought in sydney prior to the recent boom and any one who'd followed those tips would have done well . I think Goodna , launceston and Morphett ( along with many other places in adelaide ) will do well in the next 2-3 years , though only time will tell.

    I looked at cairns in the previous cycle and decided on Rocky & Townsville at that stage .We sold for good capital gains , paid CGT and invested back in Sydney after the GFC . They have ( or had ) more diversified economies than cairns and at that stage cairns wasn't looking as good , though obviously this cycle its leading the way and those who bought a couple of years ago would have seen some early gains.

    At the moment I think brisbane is a better option in Queensland , though as noted elsewhere I have bought some multi unit properties in Launceston , and for other reasons a house in Morphett Vale ( first time in adelaide ) .

    Short of a significant loosening of the screws by APRA , I won't be buying anything more until Brisbane has boomed . Maxed out for the first time . Normally it's the Sleep at night factor that stops us .

    Cliff
     
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  4. bob shovel

    bob shovel Well-Known Member

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    Thanks cliff, just wanted to see if I was on the right page. Goodna definately great info and as you say not late, perfect time to go now. Great buying compared to "Logan" which is going up plus lots of competition driving yields down

    I have been looking at Cairns and just missed one recently so hoping to be on the same page as the timing lord :) We have lived in Cairns so the tourism side is a big part but it's still a big city that's holds its own.

    Also SA is on the cards next also
     
  5. Azazel

    Azazel Well-Known Member

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    Which general area are you looking at now?
    I think there are some good spots around, but everyone has their preference, similar to BNE.
     
  6. bob shovel

    bob shovel Well-Known Member

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    Top secret ;)

    Just missed Edmonton fixer upper, probably a blessing in disguise!
     
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  7. Azazel

    Azazel Well-Known Member

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    I think you're looking on the right side of town just quietly ;)
    Looked to be still a fair amount of land being released in the North.
     
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  8. Verdie

    Verdie Member

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    Cairns growth has been very restrained, about 2.5% growth in one year. I think some pockets have done well but talk it it is booming is not true.
     
  9. HUGH72

    HUGH72 Well-Known Member

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    I don't think anyone mentioned boom did they? In July 2015 I commented on Jen's previous analysis on Cairns for which she was criticized by several posters.
    According to any analysis of Residex Free suburb reports for the year ending 1/2015 most suburbs showed 'some' growth, for many suburbs this was around 10%. She was correct in my opinion.
    I don't think a boom is going to happen here any time soon, insurance premiums still need to come down and some of the increased economy activity needs to translate into higher wages for many people.
    The realization that Aquis might not or will not happen has possibly slowed things a little as well.
    www.residex.com.au
     
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  10. Verdie

    Verdie Member

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    I think i saw that thread and nor did anyone say prices would drop, just that other areas would have larger gains, We need to pressure the government to do something so best not give them a freebie and say all things are good. Like you say insurance, rates are too high, power prices will only get worse. . Very much holding costs/cost of living is the issue and all we get is reports and inquiries. .
     
  11. HUGH72

    HUGH72 Well-Known Member

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    Reasonable insurance premiums are the key I think.
     
  12. bob shovel

    bob shovel Well-Known Member

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    I got one quote and I didn't fall off my chair. I think there is a premium to pay being in cyclone Territory but I don't think it was highway robbery. I think it was around 2800 with youi. I guess other areas may be more expensive especially in the floods/tidal /tsunami areas (whatever they call it :))
     
  13. HUGH72

    HUGH72 Well-Known Member

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    I have got mine down to under $2000 with Youi by increasing the excess.
    Some people still pay twice as much depending on if they are near the coast.
     
  14. Azazel

    Azazel Well-Known Member

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    Ever?
     
  15. Rob Ru

    Rob Ru New Member

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    i think I was a bit late to this forum but definitely got some great information out of it!

    Thanks everyone!
     
    Last edited by a moderator: 26th Feb, 2018