All Topics / Help Needed! / investing in regional victoria

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  • Profile photo of SallySally
    Participant
    @salpez13
    Join Date: 2015
    Post Count: 1
    March 23, 2015 - 3:37 pm

    Hi all. I am new to property investing. I have been researching a few areas. I would just like to know your views of investing in Warrnambool. Thanks Sally

    Profile photo of Corey BattCorey Batt
    Participant
    @cjaysa
    Join Date: 2012
    Post Count: 1,010
    March 23, 2015 - 5:40 pm

    Fairly bland rental returns for a regional, but if you can pick something up low enough and it fits your strategy it could well be worth it.

    Keys things to look at with Regionals:

    *population growth rates
    *upcoming planning and development
    *current yields and rents growth
    *Vacancy Rates
    *Stock on market

    What draws you to Warrnambool in particular?

    • This reply was modified 9 years, 8 months ago by Profile photo of Corey Batt Corey Batt.

    Corey Batt | Precision Funding
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    Profile photo of Richard TaylorRichard Taylor
    Participant
    @qlds007
    Join Date: 2003
    Post Count: 12,024
    March 23, 2015 - 7:18 pm

    Actually looked at a 6 pack of units there in 2013 but the Vendor wouldn’t budge on price.

    They are still for sale today and I cannot see why you would want to invest in such a town as very little drivers in regards to growth or rent appreciation.

    I think there are many more regional towns you could look at.

    Cheers

    Yours in Finance

    Richard Taylor | Australia's leading private lender

    Profile photo of RedwoodRedwood
    Participant
    @redwood
    Join Date: 2013
    Post Count: 340
    March 23, 2015 - 8:32 pm

    Hi there,

    I would not invest in Warrnambol – but would happily live there :)

    Have a few clients who purchased high return ‘cabins’ in a caravan park type investment on vendor finance terms, returns are high but time will tell.

    My concern with this town and regional vic as a whole is the lack of population growth relative to Melbourne based on forecasts to 2050. I will still happily invest and recommend investments in Melbourne, however, regional victoria requires a bit more of a microscope particularly with a town reliant on manufacturing. Mildura is one that always attracts my eye, but like certain regional towns it looks like drugs are going to impact the future of this town however fundamentals are good as long as you do your due diligence.

    Hope that helps

    Ivan

    • This reply was modified 9 years, 8 months ago by Profile photo of Redwood Redwood.

    Redwood | REDWOOD | SMSF | PROPERTY | FINANCE
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    Profile photo of Jacqui MiddletonJacqui Middleton
    Participant
    @jacm
    Join Date: 2009
    Post Count: 2,539
    March 25, 2015 - 11:33 pm

    I definitely would not consider investing there. Too far from a capital city or independently major regional centre. Also there is some reliance on the renewable industry sector which can be a bit turbulent every time the government changes its mind on funding distribution.

    The yields on offer would need to be substantially above more major regionals or the metropolitan suburbs for me to even spend time thinking about it…, and the yields are most certainly not substantially above such an average.

    Jacqui Middleton | Middleton Buyers Advocates
    http://www.middletonbuyersadvocates.com.au
    Email Me | Phone Me

    VIC Buyers' Agents for investors, home buyers & SMSFs.

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