Hi Robinson. Please see the presentation below and please watch the video. 22 Varsity Crescent, Norman Gardens is currently rented for $400 per week and we believe that the rent could reach up to $460 per week. The asking price is $430,000. I feel an offer of approx. $420,000 would put us in a good position to secure this property. Built in 2015 and is well-presented.
Targeting locations which will grow in value by understanding what these push and pull factors are, when they will occur and how long they are due to last is what allows us to make assumptions for strong market growth.
Our methodology aligns with a number of different driving factors. Some of these include government funding, economic uplifting projects, infrastructure introduction, flanking market affects and more. However, the underlying factors comes down to a couple of basic principals, supply and demand from population movement and demographic demand.
In proud partnership with Australia's top property economists. We formulate specific data reports based on our client's requirements and the markets we shop in. Our partners have been awarded the Innovation Patent Housing Market Prediction Solution, which predicts housing price changes at suburb level up to ten years into the future.
Rockhampton and its property market has been largely unaffected by the pandemic and indeed has benefited from the Exodus to Affordable Lifestyle which has been enhanced by the virus lockdown phases. These attributes, plus a roll-out of numerous major construction projects, is turning Rockhampton into a magnet for southern migrants and first-home buyers.
Property prices have been rising throughout 2020 but remain highly affordable and vacancies are tight – mostly below 0.5%.
Rockhampton’s diverse economy is being boosted by the resources sector with construction of the Adani coal mine well under way. In the last 12 months, contracts totaling $1.5 billion have been awarded to local operators. Other projects lifting the economy include the transformation of the CBD, upgrades totaling $1 billion to major transport routes, the $2.5 billion redevelopment of the Australia-Singapore Military Training centre at Shoalwater Bay and the emergence of new industrial estates.
Considered the ‘Beef Capital’ of Australia, Rockhampton is also the gateway to Capricorn Coast tourist attractions and a centre for manufacturing, mining and the military.
Overall, Rockhampton presents as an affordable market with good growth prospects. The Queensland Infrastructure Plan published by the State Government nominates Rockhampton as the primary service centre for Central Queensland (with Gladstone as the industrial hub). Overall, Rockhampton presents as an affordable market with good growth prospects.
The markets movement over the past year, paired with supportive driving data shows us there is good growth to come.
As we are looking for a positively geared property, yielding will need to be considered. We can expect this to rise due to the supporting data.
As properties begin to grow in value, vendors are realising the interest in the market and discounting less and negotiations begin to tighten up.
A reduction in days on markets indicates that pent up demand is causing property in the areas to sell at vendors expectations, which empowers the local property economy.
The increase of new listings coming onto onto the market shows that vendors are wanting a piece of the action and are willing to gauge the market.
As vendors begin to realise the markets potential, savvy owners are putting their properties on the market to get in on the action. This is expected to turn in the next 4 to 6 month as values rise.
Asking Price
Target Price
Potential Rent
Potential Yield
$430,000
$400,000 – $420,000
$450-$460 p/w
5.70% Gross
please view the map to see easements
EASEMENT MAP
Easements are areas which need to be accessible by council or anyone with a right to access a portion or part of land. An easement could be related to sewage piping, gas lines or electrical works.
FLOODZONE MAP
Flood zones can be determined from river flood lines. In areas where the terrain is fairly flat and river banks overflow, properties which fall within these catchments may warrant higher insurance costs.
Building and council regulation states that the dwelling on top of the land needs to be classified correctly for the type of structure that it is.
In communications with the listing agent, he/she has confirmed the condition of the property is as the listing shows. This will be verified by our team in the steps moving forward.
Council rates are paid by the owners and fund council work and operations. Generally, the smaller the population and larger the council, the higher the fee is.
In most states, building and landlord insurance is required to by the buyer one the property’s contract has been signed and exchanged. The fee above is an average for the building insurance only.
There are 3 types of listing stages:
On-market, this is found on major portals
Off-market, this is for sale, but with the listing agency only
Pre-market, this has been presented to us outside of the public
The build year should be considered when purchasing properties of different structure types. The price of the property can be reflective of the build year vs the structure type. Some structure types age better than others. At a certain price point, it is worth remembering that land is the appreciating asset, while the dwelling is the depreciating asset.
Tenure renewals dates need to be considered in rising markets. If the market is rising, your ability to increase rental rates will only be possible at the time the tenants lease period renews.
Lease renewal rates cannot be changed inside of lease periods, for the benefit of the tenant.
