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Recent client purchase in a booming property market in Northern Queensland.
The Client who had initially purchased a property through me in Perth last year had access to around 150K in equity through the rapid growth in that market.
Here are the numbers for the second purchase :
👉Purchase price : 451K
👉Rents: Appraised at 500/week
👉Quiet street
👉No flood
👉No bush fire
👉 Low maintenance property
Suburb stats:
👉Days on market: Reduced by 50% since this time last year
👉Stock on market: Reduced by 33% since this time last year
👉Vacancy rate : 0.67 % (very tight rental market)
👉10 year growth : 4.94%/annum (hasn't had too much growth)
Overall area stats
👉Drastic increase in interstate migration over the last 1-2 years
👉11 billion worth of infrastructure projects lined up
The suburb is expected to grow further for the next few years looking at the shortage of housing and strong demand for property in the area.
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