VIC Ballarat picking up ??

I was there on the weekend at some inspections. I've spent a bit of time in the area. The only bogan I saw the whole time was some derro pulling up in his beat-up car next door to a place I was considering

Don't hate on the hipsters @G TOWN! Those are the ones that bring the gentrification and precious CG...

 

I'd love to hear your opinion on the best parts of Ballarat to buy. I'm thinking of moving there for work reasons, meaning I'd like to be south of the railway station. Other than that, I only know a handful of suburbs, any opinions on where is best, south of the tracks?

 

Best to live In or invest? Ballarat is quite a big area despite being in the sticks!

 

TMNT cool name, I too like Michealangelo

To live first, investment second, but it's a long second, after all, it's Ballarat.

 

Ballarat Central, Lake Wendouree, Newington are the best south of the tracks IMO

 

There are some people in this thread who will be sad to read that last comment

 

Questionable statement. As a teenager I could ride my bicycle from Mt Rowan to my mates house in Sebas in about 30 minutes. That's almost from one extreme end of town to the other.

 

Thanks for the help. I've asked a few locals. Seems east of the river is better. I'm also looking inner north east, seems good.

 

If you look at the map of Ballarat and notice the forested area to the East: In 2016 that was declared a state forest and can no longer be touched by developers. To my mind this means the Eastern side, in future, will benefit from the restriction of supply of land.

 

This is some of the best advice. Thanks.

 

This. Plus it’s closer to Melbourne.

My PPOR is a period home in Ballarat East so I put my money where my mouth is.

 

lucky i stocked up on the east!!

But I didnt stock up because of the forest, I saw it as a cheaper area that might become desirable in the future due to close proximity to centre, melbourne side and bigger blocks,

looks like pot luck for me!

 

Ballarat stock on market and rental vacancies trending downwards + low unemployment = pretty good signs

 

I think no doubt Ballarat is on the route to growth this year. I was there recently and the mood of optimism among estate agents is strong. And fundamentals for growth is strong.

If one say 2018 is the year of stagnation for Melbourne, then it looks likely to be a year of boom or at least growth for Regional towns like Geelong, Ballarat and Bendigo.

 

Massive infrastructure spending locked-in for 2018 too:

Year of the build for Ballarat as infrastructure cash splash begins

“This is the biggest investment occurring simultaneously in Ballarat’s history,” Regional Development Minister Jaala Pulford said.

 

I really hope the coalition commitment to relocate VicRoads gets off the ground. That in conjunction with the Gov Hub should see a real impact. Particularly as it increases the amount of professional middle to high income earners migrating to the region.

 

Hi all, I'm looking to potentially get into Ballarat and was hoping to get some opinions on these type of properties;

4&6/33 Albion Street Sebastopol Vic 3356 - House for Sale #127051642 - realestate.com.au - with a $60k deposit, the rent more than covers the mortgage (and other outgoings) and it's been leased for the majority of it's life (just at the same rate, so you'd hope some growth would be around the corner)

1/1106 Grevillea Road Wendouree Vic 3355 - Unit for Sale #127193434 - realestate.com.au - closer to the lake but lower return and in need of a reno.

4/512 York Street Ballarat Central Vic 3350 - Unit for Sale #124023466 - realestate.com.au - closer to Melb but not sure on whats inside.

My goal is an investment that will pay for itself over 30 years (as suspect I'll be working that long until I retire) capital growth is a secondary concern and no concern for sub dividing / development.

 

IMO see if you can get a 2br weatherboard freestanding house in the low 200s? Any suburb is fine.

 

Thanks G Town - my grandfather was a builder, and for some reason always hated weatherboards (I think it was more that in his own home he had to redo the weatherboards and it was a painful task... ) But we'll see how we go, always on the look out.

 

Based on my experience, 2 bedders are always harder to get it rented. The audience is pretty much limited to a couple or a family with a very young child/children.

However, if one could fine a 2br house with a potential to convert it into 3 bedrooms, that’d be an awesome purchase.