I have a property in corio, returning great rental with fantastic tenant, Corio just has a bad name , but as affordability declines, people dont have a choice but to buy in these areas,….The land is huge, and will fetch high prices in the future,…the potential for growth is great, close to the new avalon international airport. Its a good start for anyone wanting to start in the property market. here you can purchase an investment property, and a huge 730 block with existing house, without spending too much.
Hi –
refer to the recent comments in this thread;
https://www.propertyinvesting.com/forums/property-investing/help-needed/4332556
The airport is just another feather in Corio's cap. Granted, the Geelong area is a lot of years behind Sydney, but if you look at suburbs like Marrickville: Marrickville was a very industrial looking working class suburb. It's hopelessly close to the airport and you cannot hear the tv when a plane goes overhead. The prices of property in Marrickville are very high. So. Marrickville is close to Sydney CBD, and close to the domestic and international airport. Corio is close to Geelong city, and close to the soon to be built international airport. See the similarities?
Jacqui Middleton | Middleton Buyers Advocates
http://www.middletonbuyersadvocates.com.au
Email Me | Phone MeVIC Buyers' Agents for investors, home buyers & SMSFs.
Thanks JacM, Excellent points..
Situated in the growth corridor that is Geelong, right in the middle of major infrastructure, development and growth. 10 mins to city of Geelong, very close highway access straight to Melbourne, gateway to the surf coast, close to shopping centres, doctors clinics, public transport. $40 million is being injected into the Norlane community to boost the area. The Northern suburbs are set to boom in the not too distant future.I have a rental in corio bought this time last year, does anyone know the lastest update for that area in growth potential over the 3 years and where did u get the info from.
cheers
colG'day Bythebay.
You have the trifecta with affordabilty, location and great tenants – don't let go of that one in Corio! I used to live in Hoppers Crossing and Werribee and 30 years ago Werribee was a Shire and my collegues thought I lived in the boondocks! I bought my first block of land in Hoppers for $4000 in 1979 and my first H&L for $34,000 in 1982. Werribee is now a city and suburb of Melbourne and is still only 20 minutes via the Westagate Freeway to Melb CBD. Corio is not much further out than Werribee and with all the points you have raised about its location and affordability means that as Melbourne continues to grow west and suburbs like Lara and Little River get swallowed up, Corio is next on that list. You are going to do well if you maintain a 'buy and hold' philososphy.
Kind regards,ALF1 wrote:…Little River get swallowed up, Corio is next on that list. You are going to do well if you maintain a 'buy and hold' philososphy.
Kind regards,Little River has potential. At least a few weeks ago, I remember seeing an acre property near the town center selling for less than $500K (on Jolyon Court). I don't know how functional the train station is, but considering the position, proximity to both Melbourne and Geelong (which will no doubt expand further), the airport, affordability (especially for the land size, a real 'lifestyle' there), views to the You Yangs in some parts…Little River is all poised to go.
Hi everyone,
I have started looking in Corio recently and can anyone comment on which part of Corio is a better part than others?
I think the area west of the shopping centre is not too bad, between Bacchus Marsh Road and Princes Highway.Thanks.
Catherine
Steer well clear of the Fairbairn Drive area. You'll see why if you google it. Seems to get a lot of shootings, break-ins and so on. You want to attract a tenant that considers this kind of surrounding to be undesirable. Attract a tenant that feels perfectly happy in such an environment and I'd imagine they wouldn't treat your property too well.
Cloverdale Road is popular, and looking at the houses in that area, they seem to have been built more recently. Brick structures, tiled rooves. They look like they've been built no earlier than the 80s (you'd need to check if that is actually reality) so you'd be less likely to encounter asbestos than if you bought an older place. This would mean you'd be more able to DIY things safely… whereas if there is asbestos involved, you'd be smarter to outsource to tradies.
Don't laugh, but give the Corio police a call, explain you are considering investing in the area, and would like to target areas that are most appropriate for a family with young children. Ask them if they could point you in the right direction of the areas they consider to be "safest".
Just like any other town, young families are going to want to live "near schools, shops and transport".
Jacqui Middleton | Middleton Buyers Advocates
http://www.middletonbuyersadvocates.com.au
Email Me | Phone MeVIC Buyers' Agents for investors, home buyers & SMSFs.
ALF1 wrote:G'day Bythebay.
You have the trifecta with affordabilty, location and great tenants – don't let go of that one in Corio! I used to live in Hoppers Crossing and Werribee and 30 years ago Werribee was a Shire and my collegues thought I lived in the boondocks! I bought my first block of land in Hoppers for $4000 in 1979 and my first H&L for $34,000 in 1982. Werribee is now a city and suburb of Melbourne and is still only 20 minutes via the Westagate Freeway to Melb CBD. Corio is not much further out than Werribee and with all the points you have raised about its location and affordability means that as Melbourne continues to grow west and suburbs like Lara and Little River get swallowed up, Corio is next on that list. You are going to do well if you maintain a 'buy and hold' philososphy.
Kind regards,Very encouraging comment. I often wonder whether to sell and buy a more expensive property nearer to, in melbourne.
I am waiting to see if the ex commission homes in the corio area are being renovated or even redeveloped, ie unit sites. the area certainly has the large blocks to do so. regards, tacatlib01 wrote:Hi everyone,I have started looking in Corio recently and can anyone comment on which part of Corio is a better part than others?
I think the area west of the shopping centre is not too bad, between Bacchus Marsh Road and Princes Highway.Thanks.
Catherine
corio area next to corio village, just off bacchus marsh rd, is a fantastic location.
I have a rental in corio bought this time last year, does anyone know the lastest update for that area in growth potential over the 3 years and where did u get the info from.
cheers colHey col,
Nice to hear that you have investment properties in Corio. I am thinking of investing in Corio as well. How long did you have to wait before you got the tenents in your investment properties?
Also, what areas of Corio are better for investment?
Cheers.
Aftabk
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