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Joe Wright

Joe is motivated to get his portfolio on track. The objective of this purchase is to fast-track the performance with markets that provide growth and cashflow. Joe likes the idea of using LMI if the purchases warrant the format and would like to have the option to purchase a second property within a year. An important consideration to the purchase in understanding the market dynamics, a favourite for us at  Strat Prop!

It’s with great pleasure to present

Your Focus Market
and property

DISCOVER OUR METHODS

HOW DO WE select OUR MARKETS?

In proud partnership with John Lindeman, arguably Australias top property economist, we formulate specific data reports based on our client's requirements and the markets we shop in. John was awarded an Innovation Patent in August 2016 for his invention of the Housing Market Prediction Solution, which predicts housing price changes at suburb level up to ten years into the future.

your Hot market

Rockhampton 4700 / 4701

BERSERKER, FRENCHVILLE, KOONGAL, PARK AVENUE, NORMAN GARDENS

Market Conditions

11.4% median market growth in 1 year

The markets movement over the past year, paired with supportive driving data shows us there is good growth to come. 

The current rental yield in the market is 5.74%

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.

-3.51% vendor discounting shows us an understanding of the market's performance

As properties begin to grow in value, vendors are realising the interest in the market and discounting less and negotiations begin to tighten up.

Days on market have reduced since February 2020 by -26.3% to 43 days.

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 number of new listings has increased by 12% in the last year

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.

Stock on market has increased by 10.7% over the last year

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.

Market Performance Over 1 YeaRs

Forecasting Reports

The Rockhampton region will be experiencing large demographic movement until 2036 and beyond. With a vacancy shortage, market demand is expected to rise

Infrustructure Profile

The Rockhampton region has large amounts of infrustructure propjects in place to support economic growth

2015 Futures Report

The current population of 78,600 is expected to rise to between 118,000-130,000. An potential 65% rise, or 4.3% per year

your Hot Property

13 Lambourne Ave, Norman Gardens QLD 47011

Property details

4

2

2

Asking Price

Market Value

Target Price

Potential Rent

 

Potential Yield

$329,000

$336,000

$310,000

$560 p/w

currently $400 p/w

Now 6.7%

Then 9.4% Gross

Where is this Property

Why is this a good option?

What should i know about this property?

Are there easements on the property?

No, there are no easements.

Easements are areas which need to be accessible by council or other similar authority figures. An easement could be related to sewage piping, gas lines or electrical works.

does the property fall in flood lines?

No, the property is not in flood lines.

Flood zones are caused by obvious causes. In areas where the terrain is fairly flat and river banks overflow, properties which fall within these catchments warrant higher insurance costs. 

Is the property correclty zoned?

Yes, Multi-Unit Dwelling (Flats) Zoning

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.

Are there any caveats on the property?

There are no found caveats on the property.

A caveat is a ruling or law attached to the property, usually with a contract attached to it. If this is the case, the caveat needs to be understood as to what it is, who it benefits and when or if it expires. 

Are we satisfied with the property's title?

Yes, initial legal searches are disconcerting.

The initial property title search shows a number of legal details, namely the lender, registered owner, administrative advice and more.

Are all council costs paid to date?

There are no records of outstanding council cost.

Outstanding council costs can come form CDC or DA work that has been put in action on the property. It could also come from maintenance charges and similar services.

Is the property in adequate condition?

Yes, the listing agent feels the photos represent and display failry.

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.  

What are the council rates for the property?

$2376 per half-year.

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.

What are the landlord insurance cost?

The approximate costs are $880 per unit per year.

Landlord insurance is an compulsory free for the possession of a tenanted investment property. 

how many days has this property been on market?

This property has been in the market for less than a month

There are 3 types of listing stages:

  1. On-market, this is found on major portals
  2. Off-market, this is for sale, but with the listing agent only
  3. Pre-market, this has been presented to us outside of the public

None of these types of listing types define the quality of the property.

When was the property Built?

We have no record of that at this stage. It was built in the 1980's

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 depresiationg asset and can be reflective in the age of the property. 

When are the lease renewal dates?

Annually:
Unit 1: 3 Feb 2022
Unit 2: 16 Feb 2022

Tenure renewals dates need to be considered in rising markets. If the market is rising, your ability to increase rental rates will on be possible at the time the tenants lease period has come to an end. 

What are the lease rates associated?

Unit 1: $200 per week (renewing at $300)
Unit 2: $200 per week (renewing at $260)

Lease renewal rates cannot be changed inside of lease periods, for the benefit of the tenant. 

What to expect

FORECAST

YOUR EXPECTED RETURNS?

Based on the data available to us, and understanding how this effects market conditions, with the assistance of accurate market predictions and analysis with our economis partner John Lindeman, the displayed figures are reflective of the expected returns over 10 years, based on the current forcasting conditions.

Please make sure to go though all the details and get back to us as soon as possible

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