VIC Drouin and Melton South VIC - Opinions!?

Hi All,

Trying to decide on where to buy for my 3rd IP.

I keep coming back to Drouin. Heres Why.

Median Price - 345k
Approx Yearly Growth: 4.84%
Median Rent - 325
Yield - 4.75%
Vacancy rate - 1.24%
Population - 10,000
% of renters: 24.05%

I have compared a lot of vic suburbs - inc All Bendigo areas, Werribee, geelong etc. The only other suburb that seems better is Melton South. However, I believe Drouin will grow. its less than an hours drive to the city and the town has everything you need..

Thanks!

 

i disagree - with employment prospects within the region completely shot on the back of the closing power plants - your prospective growth will not come from Melbourne sprawl, Drouin in my opinion would only appeal to those in Traralgon, maybe.

 

Interesting, thanks for your input.. Where you would be investing in melb then? Thanks

 

Drouin isnt melbourne and it never will be. Plenty of country towns in vic with populations of approx 10,000 and most are far cheaper than Drouin. Exception is those that are holiday locations.
What were uour comparisons based on and what made Drouin stand out? The numbers you posted dont tell much of a story to me.
Low vacancy rate is good but in.town Drouins size the developers can lay waste to that