Ballarat or Bathurst

Got $350k to spend have 2 IPs in Qld so kinda wanting to move away from that state lol.
Also have capacity to buy $500k in a SMSF prefer capital city so do i look back at Brissy or outskirts of Sydney and Melbourne?

Thanks

 

Why not geelong?

Victoria any day due to proximity to water, transport, city, population, job demand and prospects, price point.

Ballarat is equally good though. You can target 80k to 100k mess than the pricing targeted in Geelong.

Regards

 

I was considering buying in Ballarat with SMSF. But Il look at Geelong as well. Thanks

 

or look at Lara.

 

Clients buying in Geelong. Was told the market is still stagnant, so could be worth monitoring the market to look for deals. But you’ll be looking at the next cycle. Previous cycle is long gone.

 

Why Lara? Last time I drove to Geelong from Melbourne, there was still nothing out there. I could be wrong though.

 

Cheers mate. Also considered werribee but I'm leaning to Ballarat at this point.

 

I personally I haven't drive pass lara, however I spoke to one of the investors from this forum. He has recommended this suburb. Also, it's around 40mins via Vline to Melbourne CBD. My subcontractor who lives in Lara, highly recommend this area. There is also a new prison under construction in this area John Holland - Chisholm Road Prison Project. Lara is the new Geelong

Of course, everyone should do their due diligence/research before investing.

 

The rental market is hot in Ballarat, but not sure CG will be as good as geelong.

 

I think you are.

 

Definitely is

 

Agree with comments from Ashish... Geelong over Ballarat any day.

There is substantially more development occurring in the Geelong CBD and surrounding suburbs. IMO the long term CG will be much better than Ballarat/Bendigo/Bathurst.

I've purchased two properties in Geelong since 2018. The first property I lived in for 10 months, initially purchased for circa $416k and tipped $20k into a reno, agents are now quoting it at $500-$520k so I'm pretty happy with the $80k equity increase. The Second property is in Newtown and I'm looking to perform a 3 Townhouse development. I'm looking to buy again there this year.

 

It's good to hear some positive comment about Lara. Is it owner occupiers buying up properties there? Or more of investor-driven market?

 

OO from what I can see and what the agents tell me. Having said that, I'm sure investors have piled in too, especially in the Manzeene estate there.

 

Nope ...Geelong is now red hot again....

 

Does anyone know of any online platform online that registers listed sales figures on properties and then compares them to the actual sales price achieved? I'd be very keen to know!
Monitoring the Geelong market since the last election, and in particular as of the last 3-4 months, there certainly appears to be an upswing and increase in asking prices

 

Do you think the new prison will push the prices up?

 

Not sure, The project is worth around $700 million, Construction will commence soon which means lot's of people who works in this project will move to the area so that they can cut off the travel time. The project will run till 2022, but I predict it will go up to 2023. Why do you ask? I know this company very well and I use to work for them and I worked on another prison project which got delayed for 1.5 years. https://www.theage.com.au/politics/...-prison-planned-for-lara-20180424-p4zbey.html

Once the prison is operational, they need to employ at least 1000 people to run the prison, which means people who work in this prison would prefer to stay closer to work.
I strongly believe the rental market will be good at Lara.

Also, Lara is just stone away from geelong.

This is just my assumption, do your own research.

 

Can I stretch it more and compare Coffs? Close to water still affordable. I chatted to a real estate agent last year when trucking through there and said things were good. Pro and con of a truck driver. Limited at times to research but when you drive through townships you can stop and talk to people lol

 

Wow, that's great to hear for Geelong IP owners! With $350k to spend for @Ryno, red hot market like Geelong might be hard, I believe, unless he wants to look at places like Corio or Norlane.