Moree Houses

There are good & real bad areas around Moree. Check with the local cop shop or school for the better streets.

API did a writeup that looked upon it quite favourably. They also mentioned a couple of 'success stories' who started off by purchasing a CF+ property in the area at a great discount because it was on the market a long time.

At the moment the figures are wholesome and visible. Moree is a shrinking town heading to a size that is trouble, which basically means .. little or no recovery. Most people havent seen the death of towns within our lifetime, but I've known a few that just pack up and … close down. There isnt a big deal made of it .. they go from 20k .. to 12k .. to 6 or 7k … and then 2 or 3 k. Either its the industry that goes .. the mines close down .. or the reason for their existance .. just stops being valid. There are several little 'townies' like this in NSW .. they are so small you'd honk the car horn .. and just drive right through without knowing they were there.

The local paper is getting excited there about a possible investment in the area of … 25 million. Its a lot .. but for supporting a town .. its not enough. Moree is very much a farmers town .. and as such its suffering the farming setbacks a lot of small towns are.

Areas to avoid are in the west of Moree. There are some areas there so bad, the agents who manage properties just say NO. There are large housing commission 'sets' that are just dying to be reloved, but the tenancies are .. awful. Because the usual farmhand / worker type tenant isnt available .. they are sticking anybody into the places .. at almost any price. Dont listen to me on this .. check the photos .. bars on windows everywhere. There's usually a good reason for that.

For value?? its GREAT !!! You can pick up a starter house from as low as 60k. Returns can go as high as 10% if you buy multiples, so you can be CF+ in no time. Tenancies require significant management, buildings and houses require windows with security locks .. bars or mesh on windows, and barest minimum on features (nothing special, they rip the stuff out, even going as far as removing copper piping!)

If you can survive the downside until better times happen, you are probably able to pick up good value now in Moree. Tenants are gold bars, hold onto them .. leasing new tenancies can take ages as tenants can pick and choose there. Sales are slow, but thats to be expected when you have more properties than buyers in the town.

If and when it picks up, there is probably good value to be had in the area. I'm preferable to waiting until there is some degree of pickup to justify investing in the area. But … like Orange NSW .. which DID pickup … its been in my sights for about 3 years.