Is it still worth investing in these areas?
Was it ever?
Prices have doubled, still way over-priced, there is no room left for capital growth and everything is negatively geared.
Do yourself a favour, enjoy your money instead or invest it.
Hi Hugo and G7
i agree with G7 that its not the time to buy in the LaTrobe Valley.
Was it ever ?G7 Asks, well it was before prices doubled. I bought in 1997 but sold 2003 , very happy to be out and couldn’t see buying there again unless something dramatic happened , like prices halve or rents double, both would be even nicer.
regards westan
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I was hoping that nobody would pick that up, I suppose it’s always a good time to buy just before prices double. [biggrin]
Being from Melbourne originally I couldn’t help having a dig at Moe and the LaTrobe Valley.[tongue]
I agree with all the comments. The increase of close to 40% in these areas have lifted the 10 year growth rate fron 1-2% big deal. What that means is that these areas are over priced and there are to many investment properties there.
Save your money and invest in Melbourne Brisbane or if you what positive look to New Zealand
Nigel Kibel
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Australian and New Zealand Buyers advocate
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It is one of the cheapest major regional areas within 2 hours to melbourne CBD (compare geelong, bendigo, ballarat). recently updated train line for express service is due to be completed soon. 2 lane highway in excellent condition. number of major shoppping centres. Huge industrial infrastructure and support for any manufacturing business that doesn’t like extortionate melb.factory rental rates. Many pubs and sporting activities. Many schools. Perfect option for retiring elderly who want somewhere cheap to live. RSL’s, bowling clubs, cheap food markets.
Very close to gippsland lakes and a stones throw to anywhere on the 90 mile beach.Like any area, it is hard to completely discredit an area with a vague post based on opinion.
Still has good rental yields 6-8%+, and very low entry price.
For about $90,000 you can get an old housing commission house and spend $10,000 and a month of weekends renovating and add $35,000 equity easy. (many with long sweeping views of the hills)
Or for $300,000 you could get a nice country mansion on between 10 – 70 acres.
[biggrin]I do have property in the area, and am going to continue to hold.
I believe the area has potential. The fallout in the area due to SEC being decommissioned has just about run it’s course. There is growth ahead.
Live, Learn and GrowLifexperience
LifeX, I agree with you 100 percent.I have properties there in traralgon and I am holding on to them long term. They have been very good to me over the years, showing very high return and almost zero vacancies.
For an area so close to melbourne, about one hour to eastern suburbs, with such infrustructure etc, I believe it still offers great value. Compare prices with other regional areas.
Traralgon is an expanding town, so steady growth should continue.
To all those posters who can the area for no apparent reason, remember that in Melb/syd etc you will be risking/paying/borrowing HUGE $$$, lucky to return 3% and lucky to see any price rise in the next 10 years due to recent growth.I’m sorry, did I hear someone say overpriced?It is not a matter of canning the area it is a matter of timing. If you guys have owned property there for some time thats great. My point is that if you purchase today you are unlikly to get growth there for some time
Nigel Kibel
http://www.propertyknowhow.com.au
Australian and New Zealand Buyers advocate
service and seminarsNigel Kibel | Property Know How
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If we purchase anywhere today we will be unlikely to see any price growth for some time, especially properties with very low rental yields.
Hi Hugu5282,
Thanks for your post.
There is certainly opportunity in every market, but every investor sees things differently.
For example, Dave and I just sold our Traralgon flats and my Dad just bought a Morwell commercial property (that will be +ve cashflow to a nice extent).
See, goes to show you that every coin needs a ‘head’ and a ‘tail’.
Watch out for closed minded comments though. Youcan’t see much while your back is turned and your eyes are shut.
Regards,
Steve McKnight
**********
Remember that success comes from doing things differently.
**********Steve McKnight | PropertyInvesting.com Pty Ltd | CEO
https://www.propertyinvesting.comSuccess comes from doing things differently
Interesting comments Steve
It is all about timing. I am not against purchasing anywhere. Every deal has to be looked at on its own merit. I do feel that overall the gerneral houseing market in Morwell has peaked. Areas like Churchill are a little better. It really comes down to what you are trying to achieve. The first thing is you need to draw up a plan as to what you goals are. I sure that steve and save do not put a pin in a map and take a wild guess. They study the market and plan before they act.
Nigel Kibel
http://www.propertyknowhow.com.au
Australian and New Zealand Buyers advocate
service and seminarsNigel Kibel | Property Know How
http://propertyknowhow.com.au
Email Me | Phone MeWe have just launched a new website join our membership today
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