VIC ballarat prospects?

Or the initial price you paid for it two years ago?

 

Sorry, just noticed that it is in Central. Central properties are always good for growth. Hopefully, the tide will lift every suburb soon.

 

That's correct @NTiss92 - on the original price we paid.

 

Ballarat central house prices soaring - up 29.3%!

"The four-bedroom family home in Ballarat Central has experienced the strongest increase in price growth, following a trend across regional Victoria.

Results from the last financial year demonstrate that this type of property trumped all others in price growth around regional Victoria.

The seven per cent increase in regional Victorian four-bedroom house prices brought the median figure to $460,000, a $30,000 increase on figures from June 2016 according to the Real Estate Institute of Victoria data.

And topping the list in this category was Ballarat Central. The median price of $539,750 for four-bedroom houses in this area was up more than $120,000 or 29.3 per cent in comparison to the same period of the previous year."

 

What do you guys think of yield chasing in Wendouree East? 10% deposit, no LMI...I'm looking at $80-$100 per week positive cash flow on a 3 bedroom 50s weatherboard property on largish land. More if I do a DIY cosmetic reno.

The homes don't seem much more expensive (20-30k if that) than the houso part of Wendouree. Howitt St has services coming out of its ears, not to mention the Stockland, the homemaker centre, etc etc. What's the catch? Sounds almost too good to be true!

 

I've always kept my eyes on Wendouree (east). It's creeping up in terms of growth and gentrification. After being priced out from premium suburbs like Lake Wendouree, Central, Soldiers hill, Wendouree (east) and Redan become yield chasing suburbs. At the same time, you don't want to be investing in houso areas in Wendouree west, unless you have a gun PM and a strong heart to resist against tough tenants. Not saying that all tenants in Wendouree West are bad.

Strips between Howitt st and Norman st are always attarcting good prices, being in close proximity to the Lake. Not sure the property you are looking at is located in those strips. Also, if it is not too far off Norman st, paying only $20k-$30k more than Wendouree West, if land content is comparable, would be a nice buy.

 

The new Ballarat restaurant that’s booked out a month in advance | Photos

People/businesses of this calibre choosing Ballarat over Melb/Syd can only be a good sign...

'...chef Derek Boath has worked in kitchens across Melbourne and Sydney and cut his teeth at the three Michelin star restaurant per se in New York, operated by famed chef Thomas Keller.

While it may have been the housing market pressures of Melbourne which encouraged the couple to make the move to Ballarat with their young daughter and set up the restaurant, Mr Boath said the city had responded overwhelmingly to the intimate dining approach...'

 

Maybe my thinking wasn't so flawed after all- my post from October 2015

"My (could be completely flawed) thinking around Ballarat is that growth will most likely be driven by Melbourne prices going up and flowing onto Ballarat. Based on this "logic" the property we purchased is a large federation place 10 minutes walk to the CBD- hopefully a nice couple or family will be driven out of Melbourne by the prices wanting to live in a nice house and commute to Melbourne and come and offer us an exorbitant price

jodes, 21st Oct, 2015 "

 

With articles like this saying Ardeer is seeing prices touch $700K...if one has a job in a regional area or can set up a business in a large regional city, the advantages are significant.

Investors spend big at auctions in booming Ardeer - realestate.com.au

Particularly when hearing that Spencer St will require maybe 18 months of sewerage works, the disruption to the Melbourne CBD with the underground rail project etc, in any regional city you can be within 15 minutes or less to work...and just have much more time to yourself.

I must say....i would do anything for Geelong to have some enterprising Mongolian barbecue chef to open a restaurant here. The original one closed in the early 90's, and Melbourne's too far to go for the one in Exhibition St.

 

As usual @Dave3214 speaks the truth. For us young childless unmarried types there's not much reason to stay in capital cities these days. Regional offers so much more, for less money!

 

Is anyone buying in Ballarat at the moment? Heading up there this Sat to look at a fair few properties and hopefully purchase one all going well..

 

I bought PPOR 2 weeks ago. Best of luck!

 

Love it! Would you mind sharing what town you bought in? Im looking at a few in Sebastopol and Wendouree.. just on the cheaper side!

 

Hi MaddyG,
Personally, I prefer Wendouree, compared to Sebastopol. There are more things going on up there in Wendouree than in Sebastopol. I hope the map below helps you with your trip this Saturday:



Also, please do your own DD with investing fundamentals such as avoiding properties close to highways/busy streets, right next to shopping centres, etc.

Cheers,
Ko Ko

 

thanks a lot! are you a local to the area?

 

I prefer Wendouree too, although the new Delacombe Town Centre set to open 31st August will be closer to Sebastopol than the CBD is and there's also been a lot of activity along Albert St with new businesses along with a current significant road upgrade underway to cater to the increasing traffic/population.

 

I'm not local, Maddy. As I have a few IPs: one in the North, one in the East and one in Redan, I have a lot to care about Ballarat and its prospect. I still visit Ballarat from time to time regularly to keep my eyes on the market though.

 

Thanks Ko Ko for sharing your knowledge with us.

 

That's a good diagram . Agree with most of it I would make the red bit a bit bigger to the right.

I have a few in the green areas but I should have bought More

 

Myself and my partner have bought a block of land in Winterfield 2 months ago for $125,000 for a 600sqm block in the first stage release. We are first home buyers and we looked at purchasing in Ballymanus, Lucas, Yorkdale, Wintervalley, Bonshaw, Newmarque & Champions estate and this was the most affordable block for the size. The block does not title until February 2018 and already stage 2 blocks have started selling for $135,000 at sizes of 575sqm. Winterfield is supplying free front landscaping for all blocks in the development which should bring the curb appeal up for all houses.

We bought here hoping that our property will increase as soon as the new Delacombe town center is built which will be a haven for all the new estates going up, complete with supermarket, cafe, retail stores, Ballarats 1st 24-7 Kmart and cinema.

So far the only houses that have been fully built are in Yorkdale, Bonshaw & Newmarque. With works still underway for stage 1 releases in Pinnacles, Winterfield, Champions, Winter valley Rise & Ballymanus.