Forum Replies Created
With regards to the drainage issue in Mildura, I believe the council/government are going to be spending quite a bit of the forthcoming budget on fixing the problem. Google the local paper "Sunraysia Daily" and see what they are saying.
Mildura has suffered 10 years of drought and then flooding rains but this year could be a big one for agricultural and horticultural sectors of the community. Farmers around the district are busy sowing huge acreage crops and looking toward a bumper year. The horticulture industry has been hit hard too which has resulted in job losses but this can turnaround pretty quickly. Additional mineral sands mines have been announced and although these are in outlying areas, workers tend to live in Mildura and travel out. The state government and council is also expanding the airport which is encouraging. You now hear of people commuting to Melbourne from Mildura each week! Choosing lifestyle and affordability for maybe the same time commute.
Margret Lomas has maintained that Mildura is a great buy, and despite all the negatives it is still good. Yields are good, vacancy is low and prices are more than affordable. Although new homes are constantly being built in new estates away from the river (the main attraction) there are some good opportunities to purchase older style homes closer to the CBD and river, subdivide and do smaller developments.
You can get a 4 bed home for under $200K depending where it is and these rent incredibly fast and at good yields. As you may realise I own a couple in Mildura and am spruiking it to reaffirm my investment but I would still invest there again if the right opportunity arose.
ALF1 wrote:Quick addition to last post.
Have you considered Adelaide's southern suburbs?
The SA Govt is now widening the Southern Expressway (making it 2 way), the train line is now being extended all the way to Seaford and there are huge levels of expenditure on infrastructure down south. Port Noarlunga is presently the single fastest growing area in Adelaide at around 11% and, for example, you can buy brand new 4 bedroom H&L in say Seaford that is 2-3 minutes from the cleanest beaches in Australia (Port Noarlunga Beach was voted the cleanest beach in all of Australia for 2010) for under $350K. I buy my Adelaide IP's in the south so I practice what I preach. At the very least, do your due diligence and feasability study on Adealide's south as well because property is moving again down there and the Onkaparinga Council estimates an influx of at 20,000+ more new residents over the next 10 years.
I hope this was also of benefit to you.Thank you for your advice. Legal and Finance rings bells. Are you buyers agents? If so we might need to have a chat. Will check out your website.
They seem to have a number of properties in south east queensland, pacific pines and robina. Have some concern about buying in that gold coast area as am not sure what stage of the cycle the area is in. I figure close to the bottom but unsure. The property in Pac Pines would be a 3 bed 2 bath close to westfield, schools and direct train to Brisbane for around the $390K mark. What your first reaction? I have recently become very time poor to source properties as have gone back to work. Any advice greatly appreciated.
So the current story is that we turn up for registration with some id and all should be okay. Does it matter if partner has not been registered for the extra ticket?
I am looking at investing in both Corio (geelong) and Moe. Both long considered dodgey areas. I know with Corio homes are owned and occupied for a long time with people largely having working in the oil refineries or car manufacturing. With the expansion of the Geelong Road long time OO's are now trying to realise some capital growth and perhaps downsize or move to what maybe considered a better part of Geelong. Although prices are increasing in Corio there are still deals to be had. As far as Moe goes, people are definitely aware of what they consider a dodgey town but there are a lot of CF+ properties available there if you look and dont let the real estate agents get too carried away with recent forecasts that Moe is a place to buy. Am heading off this pm for the conference and hope to learn a lot from the event and the attendees. Should be great
Leaving this afternoon to drive to Melbourne for what I hope will be a great experience. Friend and I have purchased properties invdividually for a couple of years and are both hoping to "go full bore" in the hope that our hard-working husband can retire early. Hope that 6 hours in the car late at night are worth it, am sure it will be.
Thanks Mike for the quick response and invaluable information. Why haven't I been using such reports all along?
Will definitely be making use of your services again. Great Stuff!Thanks for the heads up. Have just been faxed loan switching request forms. Husband and I are debating about term for fixing he wants 5 years at 7.64% (with wealth package) I like look of 3 year at 6.54%. Any opinions on the matter would be appreciated? Other rates are 1 year – 5.24%, 2 year – 5.79% and 4 year at 6.84%.
Not intending on getting into the mining boom or gloom but have been researching Albury, Wagga Wagga and Portland??? Currently own two properties returning around 8% in Midura which is near to where we live but need to venture further afield. Have been researching Adelaide also but feel the market has not bottomed out there yet. Does anyone have any thoughts on Adelaide or more specifically Tranmere and surrounds.
