hello i am interested in purchasing an investment property and have wanted to do so for some time, having missed out on property i like time after time i am starting to broaden my thinking and am considering buying property in a housing commission area but am wondering if it can still make a good investment. i notice the housing commission property are always cheaper the main questions i would like to know is can it affect capital growth and rental income and just any information in general that people have. I am certain that the area will be worth a lot as it is 12ks from the city and has a freeway nearby that accesses pretty much everywhere and has a lot of renovation work in shopping strips and population growth scheduled for the future. so basically i would like to know can housing commission still make a good investment if it is fairly close to amenities etc
Mine is a housing commission house. Prefab concrete and steel. Had termite attack but there is no timber in the structural part of house so damage minimal. Value is pretty close to other houses in area I purchased it in in 1995. Long term growth has been 9% p/a averaged over 15 years.
Make sure gas hot water is not in the bathroom but outside as dead tenants do not make happy tenants. plus in victoria they changed the regulations that gas hot water has to be outside house. This was due to a death caused by a blocked flue chimney.
a recent sale of several ex-hc houses resulted in massive gains for the purchasers.
I bought in an area that has a high number of housing commission places and this has not had any affect on capital growth/rental income. Commission homes are generally in areas that are very central to everything. I am within 2kms to the city..
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