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Property boom spreads from Hobart into Kingborough
It had to happen. With Hobart experiencing one of its biggest property upshifts in years, and vacancies at a low, it makes sense that the overflow of investors, buyers and tenants would start spilling into neighbouring Kingborough. Urbanisation, and an easy commute to Hobart, are causing interest to swell in the once-quiet suburb, and top property companies like Baxton Property Management are showing renewed interest.
Baxton, a property management company that manages residential rental properties worth over $1billion, has backed up this interest by extending its operations into Kingborough. This is part of its plan to spread the expertise accrued in 100 years of collective experience with international and Australian investment property owners into wider areas of Tasmania and Australia.
Kingston showing signs of growth
Kingston has been showing signs of following in the footsteps of Hobart and other neighbouring areas, and is being marked for growth by investment property experts. A growth of nearly 6 percent in property prices across Kingborough in the year till May, and an annual capital growth of 3.58% in houses and 2.55% in units, back up this forecast. Added to that, the gross rental yield on houses reached 4.87% and 5.24% on units by July this year.
This makes Kingston, and Kingborough in general, an ideal market for Baxton Property Management to step up its focus, according to CEO Kellee Pennicott. She said the company’s experience in property, management and investment would fit in well in the Kingborough Council area, and would cover Kingston, Kingston Beach, Blackman’s Bay, Taroona and Tinderbox.
Spreading the property management model
The decision to expand had followed the positive results of implementing the Baxton business model and product across the Hobart region. The model is based on a dual focus on both Baxton’s primary clients, the investment property owners, as well as on the tenants who make the investment properties financially viable. In between these two poles, sound maintenance and administration of the properties themselves was at the core of a sound business approach.
The company believes in the concept of transparency, and ensuring that property owners are always kept in the loop as far as their properties are concerned. Information can be accessed at any time via Baxton’s owner portal, including all financial, maintenance and other documentation.
“We are well aware of how investment properties can succeed, and of the problems that can make them fail,” Pennicott said.
“I believe strongly that we can take this same professional ethic into Kingborough, Kingston and eventually into other areas in Tasmania and Australia, with similar success to what we have achieved across Hobart and its other surrounding suburbs.”
Guarantee of satisfaction
Baxton’s Client Service Manager said their approach to ensuring that owners were happy with their service, was to offer them a chance to try it without paying anything for the first three months of management fees. Another three months without management fees would also be implemented if at any stage during the contract, an owner or investor was dissatisfied.
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The information contained in this article is based on the authors opinion only and is of a general nature which is not indicative of future results or events and does not consider your personal situation or particular needs. Professional advice should always be sought relevant to your circumstances.
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