The thing with large shopping complexes such as Highpoint are:
– There are lots of shops in them, and people like to shop
– The shops earn money and pay tax on their earnings. Further, there is council rates and in some cases land tax associated. The government likes to receive tax money, and thus it makes sense that they ensure the infrastructure around the shopping centre allows people to get to it. ie roads, public transport. It simply wouldn't do to have nobody going to the shops, because then the government does not get its taxes.
– We all know the follow the infrastructure rule. You can't buy a house in some random location and save up your pennies and build your own shopping centres and train stations around it to make the house a viable investment. This is because shopping centres and train stations are very expensive. So of course you leverage what is going to be, or is already in place. Like it or not, people like to shop. Try getting a carpark in or near Chadstone on the boxing day sales and you'll see. People don't like to drive a million miles to go shopping, so they cluster around the shopping centres.
Diss shopping centres as much as you like, but they help your property. Go to any of them at times such as 11am or 3pm and observe the hoards of people that appear to have plenty of time on their hands (ie no job) but yet plenty of expendible income (ie benefits / the dole). Like it or not, a big chunk of the tenant pool is such people. Why? They've got "income", but not the kind, or the volume of income, that is required to buy their own place. So they will be tenants forever. And landlords do need tenants…
Jacqui Middleton | Middleton Buyers Advocates
http://www.middletonbuyersadvocates.com.au
Email Me | Phone MeVIC Buyers' Agents for investors, home buyers & SMSFs.
I agree that Ballarat is also an excellent proposition at the moment. Perhaps not quite as good as Geelong, but slightly more affordable. They both have trains to Melbourne and are large regional "cities".
In terms of proximity to Melbourne, they are similar, though Geelong is definitely closer.
In terms of tourism:
Geelong also has the forthcoming international airport and the surf coast. Freeways are being built beyond Geelong in the Colac district too.
Not sure Ballarat can complete with these big ticket items.
Melton is certainly one to watch. It's within daily commuting distance to Melbourne, Ballarat, Werribee and Geelong – all of which are employment hubs. It's got the Lerderderg State Park nearby which is of no major consequence, but it is a natural feature. It is within 30km of the Hepburn Springs district.
If Ballarat is to become a major hub, you would suppose that it would eventually get its own domestic airport. Since the next decade will be focussing on Avalon's upgrade, you're probably talking more like 20 years. Yup, an additional airport, near a major hub, still commutable to Melbourne… on flat land, and near the trainline to save on costs. Anywhere from Ballarat through Ararat would do the job. Closer to Ararat would mean a nice tidy 30minute car commute to the Grampians National Park for tourism thankyou very much. Since Melbourne already has Tullamarine and Avalon servicing it, it makes more sense to me that any such third airport would make an appearance on the Ararat side of Ballarat, providing for growth in that area.
Jacqui Middleton | Middleton Buyers Advocates
http://www.middletonbuyersadvocates.com.au
Email Me | Phone MeVIC Buyers' Agents for investors, home buyers & SMSFs.
As the original post is now nearly 3 years old i wondered where Bozana ended up buying ?
Cheers
Yours in Finance
Richard Taylor | Australia's leading private lender
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