Australia’s leading Positive Property HOTSPOT for 2014!
September 24th, 2014 • 2 comments
I have spoken a lot in previous blogs about the property market cycles but this week I have some really exciting news – the Pilbara Market is certainly heating up.
Here at Crawford Property Group we are constantly researching and reporting on what’s driving property markets around Australia.
The number of buyers emerging in regions like Karratha are the highest I have seen in the last 18 months with leasing enquiries picking up as well.
Watch my special report on why Karratha is a hotspot as well as a featured story on Today Tonight here.
We have 3 properties in the Pilbara and we have worked in Tom price for 7 years
1 new 5×2 in tom price Lmcd built with 2.25 yrs left on al lease with Onsite for $ 2000 /wkmanaged by Crawfords
1 fully gutted and renovated 3/4×2 lease to the govt for another four years at $1800(formly managed by crawfords)
1 4×4 new house in south hedland Lmcd built leased to Mcaleese for $2700 wk until April – 2015
We are currently having year off Travelling around Aus in a double decker bus!!!! – thanks to the Pilbara
We have other properties in Hobart , Sydney , Townsville and Gladstone
Iam getting a little nervous about our exposure to the Pilbara and are keen to sell one of the tomprice properties and shift in to either a Scarborough unit, we are currently a small partner in developing a block of 10
Or possible a Karratha property.
1.Do you think we will be able to secure a decent lease in hedland again next year?
2.Would Crawford be able to find a buyer for one of our Tom price properties with out officially going on the market?
3. What is your thoughts on us retaining 3 properties in the Pilbara and the market there at the moment in general
Thanks for your help – Iam a keen follower of you guys
Please leave contacts off any blogs
Great to hear from you, I do remember us communicating when you started investing in the Pilbara. Firstly congratulations on your success. I hope your enjoying your round the country tour.
1) Hedland is expected to continue to perform well into next year and begin to emerge from the current soft marketplace based on renewed activity in town. 4 bedroom family homes remain the most popular rental stock in town and although prices have dropped below $2700/wk. I would expect you to secure a quality high value lease with a sought after 4X4 residence.
2) We could certainly assist with the sale of your properties in Tom Price. Out of area investors attracted to secure leases are currently buying in the Newman & Tom price areas. I have forwarded your message onto Janet from our Newman office who will make contact with you shortly regarding your Tom Price properties. The marketplaces are quite soft still and require attention from all areas of the investor marketplace to generate interest and secure active buyers. I suggest listing your desired properties to provide maximum exposure.
3) The Pilbara has been in a depressed market sate for approx. 12 months now – 24 months if you’re considering Karratha. The general property cycles in the regions move full swing every 3-4 years. If your strategy is to buy and hold I suggest retaining newer, more attractive homes which will continue to perform well in both high and lower markets in the region. Aim for properties that provide a high return, low vacancy periods and aim to pay the debt down over a number of years. Providing a solid cash flow return with limited risk