VIC Buying IP in Inverloch

Hi, I am looking to purchase my first IP using below as my general criteria:

• Property to be rented out
• Balance of capital growth over the medium/long term and yield
• At least ~600sqm land area to allow for possible subdivision later
• Ideally near the beach as we intend to move to the property many years later upon retirement (if we don't decide to subdivide)

I have started looking specifically at Inverloch and Cowes as we liked the feel of those areas when we spend our holidays there. So far I have seen below 2 properties for sale in Inverloch:

1. This one was sold last year Feb 2020, and seems to have been renovated. Now being sold for double the price:
https://www.realestate.com.au/property-house-vic-inverloch-137417174

2. This one looks basic with slightly smaller land, but is being sold at a much cheaper price.
https://www.realestate.com.au/property-house-vic-inverloch-137055266

3. This has the biggest land area and lowest cost per sqm of land, but upon checking it seems to be in a bushfire zone.
https://www.realestate.com.au/property-house-vic-inverloch-137482066

Appreciate some feedback from the group. Thanks in advance!

 

A million $ IP in Inverloch ?

Really bad time to buy, as you are already aware prices have doubled on most properties over the last 3 years, about 50% of this growth is attributed to covid craziness and the work from home thing
I guess if your confident work from home is here to stay then it might be ok but if its not then you could be in for a very long period of no growth and poor rental return

 

Thank you for the feedback. I might have to reconsider and probably take out the last bullet point from my criteria for now. Do you have any recommendation on any specific area in Victoria I can focus where there is still opportunity for capital growth while getting decent rental yield? I can go spending as high as $1m but want to keep it at ~$800k if I have a choice.

 

Try lakes Entrance, near to beach, better growth prospectus.

 

Why better growth prospects?
It has already done well from the current crazy

 

To be honest I have no idea
But i have watched everything state wide in regional areas go bananas in the last year

Historically regional towns do well and then flatline for around a decade or longer

So NO i would be reckless to recommend any regional VIC investment at this point in time

 

One thing that concerns me with Lakes Entrance is it being only 2m above sea level.