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What's happened in East Tamworth?

Discussion in 'Where to Buy' started by propernewb, 15th Mar, 2016.

  1. propernewb

    propernewb Well-Known Member

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  2. Richard Williams

    Richard Williams Buyers Agent - Southeast QLD Business Member

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  3. bob shovel

    bob shovel Well-Known Member

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    The fancy side of town! Could be some bargains coming perhaps?
    Has the Sydney ripple come out yet? May be on the horizon though, @BuyersAgent do you know what's happening in the land of country music (for 10 days of the year ;))
     
  4. Tony Fleming

    Tony Fleming Well-Known Member Business Member

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    Historically its normally 1 and a half to two years since a major city booms that the regional areas get the ripple effect. Hopefully its happening now, I've got some regionals that need some more growth :)
     
  5. BuyersAgent

    BuyersAgent Well-Known Member Business Member

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    @bob shovel several indicators are still a little soft imo. Which is ok if you take a long term view and want to hunt for bargains but not if you want immediate market led cg. As @rico2011 said the market is humming along nicely tho.
     
  6. Phil_22

    Phil_22 Well-Known Member

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    Id caution that there is a lot of building happening and continuing to happen in Tamworth.

    Could be an over supply of property there.
     
  7. dabbler

    dabbler Well-Known Member

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    All running as sky is falling due to your NG and CG changes by your mates.
     
  8. shreko

    shreko Member

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    Tamworth has a massive over supply of new houses.

    I still believe it is a good option though because the area has diverse industry, a population of approx. 70-75k (that will show in census - Wikipedia says about 50 I think) and it is very cheap for what it is (I believe so). South Tamworth you can get a good 3 bedder for $230.

    There will be much better options out there, but for someone with a budget of around 200k then Tamworth is perfect. Another similar one is Albury, which has the addition of a University (and it is cold which seems to drive away the derro's).

    One tip for Tamworth - do not buy a new house there.. most are built by the same builder and have major major issues e.g. they weren't built to standards and were built with poor workmanship. Currently the builder has been buying back the land and building a new place to make back a few $$.
    Second hot tip for Tamworth - do not buy in the area 'Coledale' OR in Robert street South tamworth.. under no circumstances.
     
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  9. bob shovel

    bob shovel Well-Known Member

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    I think that must be the standard in a lot areas now! Slap em up and try to get our before the issues come up. Is it just one main builder doing the majority of houses?
     
  10. Azazel

    Azazel Well-Known Member

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    Strong yield? AND growth? For a unit? In Tamworth?
    I've had a bit of a look over the last couple of years, again over Easter.
    There are some good buys, but I'm still chicken.
     
  11. dabbler

    dabbler Well-Known Member

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    I wouldn't be.....however in country towns many like a house and yard.
     
  12. TMNT

    TMNT Well-Known Member

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    Re comment , not buying in coledale.
    I agree

    But i would like to know the reality of such a crappy area

    Lets assume that no agents will want to manage it

    Which means no investors

    So only owner occupiers or people who have had it for years

    Since most ferals in the area wont be able to see past their bong they wont be buying


    So what happens??? Do prices fall to a point where its virtually land value?

    Or do they become derilect like Detroit?

    Unless the government decide to do what they did in dubbo and clean it up , what actually happens?
     
  13. strongy1986

    strongy1986 Well-Known Member

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    Without badmouthing Tamworth - what is the capital gains upside on a house worth 400k?

    Will it go to 600k??
    I highly doubt it
     
  14. bob shovel

    bob shovel Well-Known Member

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    Probably gov housing. Can't remember.
    If they do sell you'll be paying a premium for ones with a front door! It's probably less than land value due to knock down and clean up

    Ripple, just a case of when
     
  15. Azazel

    Azazel Well-Known Member

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    I guess you would have local investors who manage themselves, or know someone there who can manage it for you.
     
  16. bob shovel

    bob shovel Well-Known Member

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    Manage with a big stick out there!!
     
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  17. Azazel

    Azazel Well-Known Member

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    Yep, and have the firies on speed dial.
     
  18. bob shovel

    bob shovel Well-Known Member

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    I haven't looked but when you search dept of housing etc, will it also show up community housing or the indigenous organisations?
     
  19. Azazel

    Azazel Well-Known Member

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    On a particular website or just the google machine?
     
  20. bob shovel

    bob shovel Well-Known Member

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    Wherever it is you should do some DD looking for DOH etc??