What do people think about investing in country areas such as Mildura,Swan Hill or Echuca?
All three areas seem to be ticking over nicely. what do you think.Good hunting [medieval]
Hi Mollymonsta
Cool name! I live in Mildura and the area is ticking over nicely. The town has an immediate population of around 25000 and the small towns around it in Vic and NSW total around 45000-50000 population that it services. Has a large agricultural dependancy with much of the area irrigated by the Murray. Dry land farming and tourism are also drivers to the local economy. Work has began on the first inland Marina in the Southern Hemisphere to house a 5 star motel, 100 unit sites (talk recently of upping that to 200) with retail and cafe sites. The marina will sell freehold moorings for houseboats and pleasurecraft. 15 house site on the man made island in the middle all sold within a few days of being released for up to 3/4 of a million dollars. I expect that these lots of land will come back on the market when the marina has nearly finished construction. There are 3 main areas to steer clear from in Mildura so if you need a heads up drop me a PM and I will help you out. If you get to the point you do some due diligence on a prop then my husband is a builder and I can organize him to do a house inspection for you.Julie Fisher
Daryl Fisher HomesRegional cities have been good investing for us [exhappy]
Are you following the Murray River Mollymonsta!?
http://www.growmilduraregion.com.au
http://www.swanhillonline.com (check out business network)
We also have built and bought in Bendigo, Horsham, would like to build or buy in Warrnambool, Ballarat, Shepparton, Wodonga…they all serve as strong catchment areas for the surrounding towns, have great infrastructure, solid demand for rental properties, and solid growth gains in house prices…especially over the last decade. Apart from that they are really pleasant cities to visit and live in (yes I have spent time in them). A worthy consideration of lifestyle outside the Melbournes/Sydneys and Geelongs of the world.
Sam
Yes I agree you can find some great deals in Victoria. Some investors have panicked (due to the drought crisis) and I have seen some properties go for way below their true value. So have a look around and you'll amazed at what you can find.
I recently bought a cashflow positive property in the Winmera region without really "solving any problem" (like Steve says) other than a fresh coat of paint. Not exactly "11 second" stuff but good enough returns nonetheless for lazy people like me who like to find solutions ..
JFisher wrote:Hi Mollymonsta Cool name! I live in Mildura and the area is ticking over nicely. The town has an immediate population of around 25000 and the small towns around it in Vic and NSW total around 45000-50000 population that it services. Has a large agricultural dependancy with much of the area irrigated by the Murray. Dry land farming and tourism are also drivers to the local economy. Work has began on the first inland Marina in the Southern Hemisphere to house a 5 star motel, 100 unit sites (talk recently of upping that to 200) with retail and cafe sites. The marina will sell freehold moorings for houseboats and pleasurecraft. 15 house site on the man made island in the middle all sold within a few days of being released for up to 3/4 of a million dollars. I expect that these lots of land will come back on the market when the marina has nearly finished construction. There are 3 main areas to steer clear from in Mildura so if you need a heads up drop me a PM and I will help you out. If you get to the point you do some due diligence on a prop then my husband is a builder and I can organize him to do a house inspection for you. Julie Fisher Daryl Fisher Homeshi Julie,
I recently became interested in buying my first IP in Mildura and stumbled across your post from a few months back, you mentioned there were 3 areas to steer clear from? I'm intrigued to know what your thoughts are on the 3 areas as I don't know anyone from Mildura or even visited there, I do plan to make a trip up there on the weekday soon though. Your help would be greatly appreciatedregards,
John
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