Hi Folks – I am looking at investing in Mildura in the coming months. As I live a fair distance away I am after some information about what are the good/bad areas to buy.
Would really appreciate if anyone can help me out.
Cheers
I have been following properties in mildura on real estate.com.au and have spoken to the real estate agents up there.
I have some houses in watch in my shortlist and they have been there for a year now. fantastic houses pulling good rent but not selling, and they are houses with current tennants paying good rent.
real estate agent told me if i thought the drought was going to break then Mildura is a great place but if i thought it would continue. then not to invest. It has enough employment to keep people coming in but im not sure the incomes are those that can afford high prices.Its still one of my favourites as i have been there many times and impressed with the town. Its on my shortlist and sometime in the next year i would love to buy there.
sienna1 wrote:I have been following properties in mildura on real estate.com.au and have spoken to the real estate agents up there.I have some houses in watch in my shortlist and they have been there for a year now. fantastic houses pulling good rent but not selling, and they are houses with current tennants paying good rent.
real estate agent told me if i thought the drought was going to break then Mildura is a great place but if i thought it would continue. then not to invest. It has enough employment to keep people coming in but im not sure the incomes are those that can afford high prices.Its still one of my favourites as i have been there many times and impressed with the town. Its on my shortlist and sometime in the next year i would love to buy there.
thanks Sienna for your reply its much appreciated!!!
pagey23, I'm fairly familiar with the Mildura area…I'm wondering how recent your research data is?
Although Mildura has been on the radar as an inland growth area in Commercial and Investment property, I would urge you to double check investment strategies for Mildura/Sunraysia. Just my opinion though.
Arabian wrote:pagey23, I'm fairly familiar with the Mildura area…I'm wondering how recent your research data is?Although Mildura has been on the radar as an inland growth area in Commercial and Investment property, I would urge you to double check investment strategies for Mildura/Sunraysia. Just my opinion though.
Thanks Arabian – I have just been reading some of Margaret Lomas' books, and it seems to be an area she keeps referring back to as it has sustainable long term growth prospects. It ticks alot of boxes for me but I am yet to be told of the negatives so if you could give me any extra detail I would much appreciate it. Cheers
pagey23,
Ooops! haven't checked in lately, sorry. Without knowing the criteria used by Destiny (Margaret Lomas) I hesitate to comment…except to say the drought has impacted severley on expenditure in this area.
You may be aware the lone 'industry' (table grapes/wine grapes/citrus) is in serious trouble through lack of water/irrigation.
Margaret is a guest on Your Money Your Call, Monday 1st December…your chance to call her perhaps.
Good luck…let us know how you go.
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