VIC ballarat prospects?

Discussion in 'Where to Buy' started by jomi, 8th Oct, 2015.

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  1. C-mac

    C-mac Well-Known Member

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    I think the number is realistic over a 20-year period. It aligns with Ballarat's goal to increase the overall population to 130,000 - 150,000 people by 2030. Vic Gov has been pretty ballsy about this goal; it is a massive jump in population of just over 100,000 in 2017, up to even 130,000 in just 13 more years!

    But projects like these give me confidence for the growth.

    There was also an article about 'Overcrowding' problems on the V-Line train to Ballarat (a good indication that usage of this service is ramping up!) which flows on to mention rail line duplication and loops along the 66-minute fast-train journey to Melbourne, to make it more efficient and ease overcrowding:

    Overcrowding will fall
     
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  2. Indifference

    Indifference Well-Known Member

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    That'll be a great addition! Ballarat already has 4 commercial craft beer breweries & a cider brewery in the works....

    The BWEZ is the Victorian governments lever for Ballarat to grow substantially by 2030. Large scale operations like this proposal will enable those goals to be realised.
     
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  3. C-mac

    C-mac Well-Known Member

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    Ballarat also got aome positive mentions in the February HTW (Heron Todd White) Month-in-review report. You can google it and download the pdf. Houses in Ballarat are in a rising market on the clock (9pm). Units aren't so good though.

    Inner suburbs are basically tipped to do well this year, but the outer and new-housing-estate ones, probably not so much.
     
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  4. Ko Ko Naing

    Ko Ko Naing Well-Known Member

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    I don't quite understand HTW property clock. I've been watching the Rat over the years and it was placed at 9 o'clock early last year. Then it went up to peak some time last year. So I thought it'd not be good to buy. Yet, I bought at the end of last year when a deal came up. Now in Feb, it went back down to 9 o'clock again anti-clockwise. I failed to understand how HTW property cycle works in general.

    But I've just read the Ballarat section in that PDF and 2017 looks good. I wish the real growth is coming in the end. Good things come to those who wait. @TMNT @Beelzebub
     
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  5. C-mac

    C-mac Well-Known Member

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    I too have that trouble with the clock!

    Sydney has oscillated around 9/12/3 back and forth over the last year or so!

    Maybe thats a sign that some markets are moving counter-cyclically?

    The win for Ballarat though is all pf the infrastructure and business moving in, coupled with packed commuter Melbourne trains.

    Folks who eqrn Melbourne salaries and live in Ballarat are more likely to have disposeable income to actually spend IN Ballarat on their weekends etc.

    Last time I was there, the opening of a couple of (capital-city-style) gourmet burger joints is a sign of this. These businesses will rely on a more affluent customer to sustain themselves. Low socio-eco folks cant really justify $18 for a single burger. But the Melbourne commuterals can. Especially if their mortgages are one-third the size of a Melbourne one..
     
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  6. TMNT

    TMNT Well-Known Member

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    ive been reading the property clock at the back of the api magazine for years, and it is the most useless crock of crap on the face of the earth

    in 4 months Isaw the property clock in the same area go from bottom of the cycle, to peak back down to bottom,
    this was the same for almost eveyr suburb, very rarely would you get two consecutive same ratings over a month

    Id trust a used car salesman more
     
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  7. TMNT

    TMNT Well-Known Member

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    ive heard the pitch "so many people are now atching vline to the city to work since its only a 60m+ trip which isnt much different to living in melbourne,

    however, from peoples general observation im not too sure if too many people do this.

    I use to think of it as a exagreated sales pitch to prop up ballarat
     
  8. Indifference

    Indifference Well-Known Member

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    Well how about from 1st hand experience.... when I first moved to Ballarat I commuted daily to Melbourne CBD. Now I do so part time. On the services I use they are full of commuters. Plenty of people do it... that's a fact not an opinion.
     
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  9. Toon

    Toon Well-Known Member

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    I also did it for 6 months last year and am just fortunate that my boss opened a Ballarat branch in October so I no longer have to go through that torture. I'll second that a large number of people commute daily. During my 6 months of hell, I departed anywhere from ~5am-8am and all services were full of commuters. The earliest is full of tradies and the later ones are full of office workers.
     
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  10. Sasy

    Sasy Member

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    Can we consider Bacchus marsh? Read the grammar school is good and rental yield is 4%. Is commuting a bit better?
    Thanks everyone
     
  11. Indifference

    Indifference Well-Known Member

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    Commuting times are much shorter from Bacchus Marsh however it is normally the 4th stop (Wendouree - Ballarat - Ballan - Bacchus Marsh....) so the train seating is generally all but full & those passengers scramble for the last odd seat whilst most stand.

    From a lifestyle perspective Bacchus Marsh lacks many facilities so you need to travel into Melton or further to access things like a cinema, entertainment, large department stores, employment etc... I looked there first & decided it lacked too many facilities for our liking but for some, that's exactly why they love the place. Each to their own.
     
  12. Owlet

    Owlet Well-Known Member

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    There are additional trains from Bacchus Marsh.
    Bacchus Marsh to Woodgrove;the main shopping centre, Readings cinema and Bunnings across the road is 12.6km or 13mins drive straight down the Western Hwy.
    Ballarat Central GPO to Stockland Wendouree is 5.9km but takes 11 minutes. Current cinema is in CDB with limited parking. Will be a similar drive to Delacombe where the new cinema is going.
    Bacchus Marsh is 4-5 degrees warmer
    It has a hospital and emergency centre like ballarat but not as big
    But yes please buy in Ballarat becasue I would like my IPs to increase in value :)
     
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  13. sam00

    sam00 New Member

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    With the recent announcement of no stamp duty payable for first home buyers do you this will affect house prices and more importantly becoming harder to sell in Wendouree as it would be more ideal for first home buyers to build have a newer home rather than an older 1980s home?
     
  14. Toon

    Toon Well-Known Member

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    I don't think it will make it harder to sell - the biggest stamp duty savings come off established homes and Wendouree is one of the areas with prices most accessible to first home buyers, although the new $20,000 FHB grant to build/buy new would encourage some to go new instead. This was in the local paper today: Housing boost for Ballarat
     
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  15. Beelzebub

    Beelzebub Well-Known Member

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    It should be positive for the Ballarat market as a whole, including the Wendouree. This is due to an overall increase in demand for property in the area. While this increase in demand will probably be concentrated on new builds, there should still be plenty of increase in demand for established homes.

    Firstly, the grant increase only applies to regional areas and will make places like Ballarat even more attractive for those struggling to buy in Melbourne. This will increase demand overall.

    Secondly, as part of the package stamp duty has been abolished for first home buyers under a certain threshold ($600k or something?).

    There's a few things here: The supply of new homes probably wont keep up with demand in the short term (I'm not sure how those new estates in Ballarat are going with titling blocks and what the lag is? I do know there is a wait in Geelong though). This left over demand will both push up the price of H&L (lifting other properties) and the spillover demand should go into established properties.

    Also, many people don't like those new estates and will want to buy established.

    More money is also now available through the increased leveraging that will be available due to the abolition of stamp duty for first home owners.

    And also, Wendouree is cheaper than new builds; and again, with the abolition of stamp duty, the deposit people will now have to save to get into that suburb will be less; pushing up demand.

    In short, IMO Wendouree and Ballarat in general will do well out of the announcement.
     
  16. Tony3008

    Tony3008 Well-Known Member

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    Bacchus Marsh is (surprisingly) a zone 1/2 station, so the same rail fare to the CBD as inner Melbourne suburbs. But, as others have pointed out, on trains coming from Ballarat, you may be lucky to get a seat.
     
  17. Ko Ko Naing

    Ko Ko Naing Well-Known Member

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    Commuted to Ballarat and CBD over the whole last week. I found out there are a lot more people than expected, getting in on the way to CBD in the morning and getting out on the way to the Rat in the evening. Not sure if it is because of the commuting distance or something else. Personally, I enjoy riding on V/Line to Ballarat much more than on Metro back home to Glen Waverley.
     
  18. Danyool

    Danyool Well-Known Member

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  19. sam00

    sam00 New Member

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    I have been catching the train from Melton to City now for 6 years and I also see the Ballarat trains go bye. Let me tell you within the 6 years and the recent opening of the Caroline Springs station opening these trains have reached 100% capacity, I am now lucky to get a seat. My IP is in Wendouree and I can only see the price of it going up. Population growth = higher house prices!
     
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  20. Toon

    Toon Well-Known Member

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