VIC Ballarat picking up ??

Discussion in 'Where to Buy' started by Jack, 14th Aug, 2017.

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  1. Jack

    Jack New Member

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    Hi Guru , please advice Alfredton or Black Hill for positive yield. Also interested in Sebastopol wave surfing.
     
  2. Property God

    Property God Active Member

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    Ballarat not picking up past normal inflation rate. Boom is in melb.
     
  3. Owlet

    Owlet Well-Known Member

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    I was reading how well Geelong is going and it prompted me to check in on Ballarat. There are a lot of central Ballarat properties going to auction at the moment - I hope hot prices follow and we can see some decent growth.
     
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  4. Toon

    Toon Well-Known Member

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    RE agent on news tonight said Ballarat has risen an average of 5.6% over the past year - some suburbs were up around 10% and others less.
     
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  5. Stoffo

    Stoffo Well-Known Member

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    Have a mate who recently bought in Ballarat, on the Canadian side.
    He was looking for months.
    Lots of competition, prices definantly rising, slowly
    Ensure you do lots of due diligence
    So many places had "paint renovations" and dodgy work :eek:
     
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  6. Toon

    Toon Well-Known Member

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  7. Ko Ko Naing

    Ko Ko Naing Well-Known Member

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    Agree with this. I've been monitoring the market for a few months and am seeing a lot of auctions around central areas. Many development-potential blocks are also being sold out quite quickly around Redan and better parts of Wendouree. I assume that's a normal ripple effect from Melbourne's boom, where people are being pushed out mainly because of affordability.
     
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  8. TMNT

    TMNT Well-Known Member

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    And this makes me ask myself.
    I've learnt that blue chips perform better long term


    However timing of cycle. Is it better to buy in a near peak blue chip or rising regional?
     
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  9. MTR

    MTR Well-Known Member

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    Definitely would not want to buy close to peak? But who knows how close to peak? A matter of working out how long a market has been booming and if you feel lucky

    Regional? Totally dependent on what is driving the market.

    I believe Geelong is going gangbusters due to infrastructure spending? immigration and lower entry level compared to Melb.
     
  10. TMNT

    TMNT Well-Known Member

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    Yes exactly.
    On the assumption you could accurately predict the peak.

    Long term the blue chip growth might be larger in percentage compared to the regional.

    Who knows
     
  11. Peter_Tersteeg

    Peter_Tersteeg Mortgage Broker Business Member

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    Before I start, I'll say that I grew up in Mt Rowan, went to school in Wendouree, my parents still live there and own some very valuable property there. I also have a lot of family in Geelong...

    Geelong is a significantly larger city that Ballarat. It's a city in it's own right with multiple suburbs which influence peoples employment and consumer behaviour. Ballarat has more than one shopping district, but almost everything is within 10 minutes of everything else.

    Geelong also has much larger industry investment and employment diversification. Then there's geographical factors limiting supply to a certain degree. Ballarat does have some constraints with rural zoning, but that's not restricting supply by any stretch.

    Then there's the lifestyle. Geelong has a lovely bay and access to the surf beaches. Ballarat has the Begonia Festival and a (muddy) lake as well as a perception of being cold and wet (not entirely true, but not false either).

    Overall I think Geelong is going to have a more consistent property cycle. Some of this is driven by Melbourne, some is driven by local factors. Ballarat does have growth, but it's very unpredictable and influenced by comparative affordability of Melbourne and Geelong, rather than growth drivers in it's own right.
     
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  12. TMNT

    TMNT Well-Known Member

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    One of the main reasons I though Geelong has advantages over Ballarat is that Geelong is still a part of Melbourne. While Ballarat is a regional city further out.

    Independant cities require different services. I classify Geelong as a outer Melbourne city.
     
  13. Big Will

    Big Will Well-Known Member

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    I wouldn't classify it as Melbourne even outer Melbourne as it isn't linked through developments from Werribee.

    upload_2017-10-31_15-5-14.png

    I would classify Dandenong for instance as part of Melbourne.

    Another way to look at classification is Metro trains and V-line trains which one services Geelong?

    I personally haven't bought in Geelong but I am not having a dig at it but to call Geelong Melbourne I don't agree. However if I had to agree with Ballarat or Geelong being included in Melbourne then yes I would but needs a lot more development for me to consider it part of Melbourne.
     
  14. Massy

    Massy Member

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    Boom in Melbourne
     
  15. private_number

    private_number Well-Known Member

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    Geelong is a regional city. In fact it's the largest regional city in Victoria with almost double the population of Ballarat (correct me if I am wrong).
     
  16. Hosko

    Hosko Well-Known Member

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    If it's a fact, would there be any need to correct it?
     
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  17. Indifference

    Indifference Well-Known Member

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    Yes, this has been my experience after recently selling a property there....

    Demand for centrally located property seems healthy with some property selling above asking price.
     
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  18. Toon

    Toon Well-Known Member

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  19. C-mac

    C-mac Well-Known Member

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    I think both Geelong and Ballarat will do well in the long term.

    Geelong probably has the edge but then the buy-in points are generally higher than those of Ballarat.

    If Geelong gets that casino monstrosity put in, that'll probably help ramp up its property markets a bit, too.
     
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  20. private_number

    private_number Well-Known Member

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    There is still many suburbs within Geelong that have a lower buy-in point than others. For the same amount of money, I would invest within the Geelong region over the Ballarat region.

    I haven't heard anything about this Geelong Casino for a couple of years now. Anyone know what the recent news is with this?