VIC Geelong 2018

Discussion in 'Where to Buy' started by Pentanol, 1st Jan, 2018.

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  1. David Shih

    David Shih Mortgage Broker Business Member

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    LOL - it does look like a good floor plan I must admit. And quite a bit of scope to add value too down the track.

    But it is on Wilson Rd which is a semi-arterial, so while the house looks decent I prob wouldn't throw my money in this one...having said that I think nowadays people would just snatch up whatever stock is available at Newcomb. Definitely be interested to see how much it ended up going for.
     
  2. wobbycarly

    wobbycarly Well-Known Member

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    I've used Jim's (Belmont area) and the local guy was really good. Let me tag along and gave me advice and opinions that'll never make the report.
     
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  3. Jake Milne

    Jake Milne Well-Known Member

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    ^ Agree. Graeme Boyd from Jim's is a great Geelong based building inspector.
     
  4. wobbycarly

    wobbycarly Well-Known Member

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    I couldn't remember his name - thanks for the clarification!
     
  5. Michelle Evans

    Michelle Evans Well-Known Member

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  6. Davothegreat

    Davothegreat Well-Known Member

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    +1... I was referred to Graeme Boyd by a Real Estate agent that I was considering purchasing a property through down there at the end of last year where I had some doubts about the legality of a particular dwelling on the site that would render the deal a no-go for me (non-habitable) and he was more than happy to spend a solid half hour on the phone explaining things to me in acute detail that led to me having the information I needed in order to make the right decision about the property. And he wouldn't accept a penny for his troubles.
     
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  7. Dave3214

    Dave3214 Well-Known Member

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    This is great news for Geelong, it's employment prospects and certainly for the Northern suburbs who will have an exciting new development happen just 15 or so minutes up the road.


    Air Asia to fly into Avalon, as Melbourne gains second international airport
    Herald Sun
    24 minutes ago
    Subscriber only
    VICTORIA will have a second international airport with Air Asia to fly into Avalon Airport by the end of the year.

    The Herald Sun can reveal Air Asia will have daily flights to and from Kuala Lumpur.

    It is understood a new terminal will be built for the international flights and will include a customs facility.

    The new deal is being signed this week with a major announcement to be made on Sunday at the airport.

    The decision is a major multi-million dollar boost for Avalon Airport, the western suburbs and Geelong.

    This copy and past from the Herald Sun. As a former taxi driver i was always dreaming of this, now i might consider doing some Ubering or something in the future. But great news for the Geelong region, and a big fillip for the local economy.
     
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  8. David Shih

    David Shih Mortgage Broker Business Member

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    Awesome news Dave and thanks for sharing! This is really exciting news for Avalon Airport - given it's pretty much operated by Jetstar nowadays and is really only a domestic airport.

    By transforming it to an international airport will bring significant opportunities to surrounding areas including Geelong as well as Werribee, Wyndham Vale etc. Looking forward to getting more updates as it transforms into an international airport and more carriers joining the bandwagon!

    Has there been any further news on the Western Technology Park?
     
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  9. David Shih

    David Shih Mortgage Broker Business Member

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    I used Graeme for my Newcomb purchase and would definitely recommend him - one of the best B&P inspector in Geelong I've met so far. He's also a property investor himself so can understand the angle we are coming from.

    I contacted him to organize a Building inspection for my Newcomb place but because he's already done the same report about a month ago (for another client) so it's a simple matter of me purchasing the B&P report off him at half the price.

    Because I couldn't see the property in person with him, he basically walked me through the report page by page and going through all the major to minor defects over the phone. Very detailed explanation and he is never short of sharing his personal recommendations on whether it's worthwhile to spend money on fixing a defect or not. It really helped for someone who doesn't have much building knowledge.

    His real value add for me is though that some B&P inspector would not give rough estimate on how much to fix for each defect but Graeme would. So at the end of the call I was able to get a line by line breakdown of all the major to minor defects, plus the associated cost that I may need to fork out in a priority that I should be doing them. Very impressed and I have to say his numbers are very spot on too.

    The only downside is he's a really busy man so very hard to get hold of. But if you are able to get hold of him, I would have no hesitation of recommending his services to any investor.

    Now the challenge would be to find a Graeme Boyd in every state...then no one would be losing money :p
     
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  10. sash

    sash Well-Known Member

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    Yep....you may also see Scoot, Tiger, Cebu Pacific and others follow suit......

    Also there is plan to expand the Geelong as a port...that should put it on the map......



     
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  11. private_number

    private_number Well-Known Member

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    Ive been waiting for this for some time now. I was reading Avalon Airport 20 year projection plan some time ago. It does include rail and road upgrades from Avalon to Melbourne and Geelong. Thank you Dave for sharing. Yes, hopefully Cebu Pacfic, Tiger etc will follow suit.

    There was word many years ago that the Port of Melbourne will move down to Geelong. Did not follow up on this though. I cannot see this even happening for decades, however what I can see is the expansion of the Geelong Port.
     
  12. Michelle Evans

    Michelle Evans Well-Known Member

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    Thanks Dave - is certainly something that will affect my thinking in terms of where I'm looking now for my next IP. the question is, do I jump in now with what I can afford (which really is only some of those one bedrooms in Geelong right now), or do I hold off until I have a bigger deposit, but then potentially have to pay a fair amount more with the market growing... (the challenge, to save funds quicker than the markets growth)
     
  13. roger vh

    roger vh Member

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    FYI all
    I attended the 40 Wilsons road, Newcomb auction this morning with a genuine interest in it. Top of the buyer range was $379k, but we all know that was low ball. Ended up going for $472.5k, which exceeded my top end estimate by $20k and basically $100k over EPR. IT was sold with a 12 month lease at $330/week. Big price considering very similar block two doors down sold for $426k in mid November last year.

    What to make of this now for Newcomb ????
     
  14. Luca

    Luca Well-Known Member

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    @roger vh Investors and vicinity to Geelong east. Prices don`t make sense to me anymore. It was good to jump in at the right time, I was too obsessed by development sites and missed few opportunities. $300k for 47 Antonhy Street was a bargain, max offer was $285k and didn`t go over as I thought it was too expensive :)
     
  15. Dave3214

    Dave3214 Well-Known Member

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    Makes my Mum's place in Watsons Rd sound good :p

    That did look an ambitiously low EPR though, it looked like a nice solid quality brick place on a larger sized block, i think a buyer on this very forum bought a place on the corner of Wilton and Boundary Rd a couple of years ago for around the $360K mark, and Newcomb's been moving quite nicely since.

    It's no real surprise to me though that it has, because Newcomb's merely a hop, step and a jump away from the booming East Geelong market, and although many of the places in that suburb are unique Edwardian and Californian Bungalow type places, amenity wise Newcomb's just about on par. A drive of an extra minute or two into the CBD is a small concession for a place that is a couple of hundred thousand dollars less.

    Although reading the ad, i am pretty certain if i walked 2 Km from 40 Wilton Ave, i'd only make it to Garden St, although arguably since that becomes Geelong 3220.maybe that's deemed the CBD.

    With this in mind, nearby Breakwater, and i really do mean nearby, as in places along the likes of Winstanley Rd, Callender St and that area to the East of the showgrounds and racecourse still have those 60's commission style brick houses that are gettable for under the $350K mark. To my mind those may be nearly the best value in Geelong now, being still quite close to town, close to Newcomb's two shopping centres and obviously not that far from Eastern Park and beach.

    15 Hitchcock Street Breakwater Vic 3219 - House for Sale #127296834 - realestate.com.au

    5 Young Street Breakwater Vic 3219 - House for Sale #127383810 - realestate.com.au

    6 Winstanley Road Thomson Vic 3219 - House for Sale #127402358 - realestate.com.au

    The bonus is, as i have said to others in the past, you can have me as a free 'pair of eyes' as i pass all of these houses daily doing my paper deliveries!!!! :p
     
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  16. melbournian

    melbournian Well-Known Member

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    That’s seems boom like auction condition in melbourne. Def would be one suburb to watch this year
     
  17. Dave3214

    Dave3214 Well-Known Member

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    THis is an interesting view of this property in Herne Hill that sold today for $397K, an unrenovated weatherboard place for a price that's starting to be hard to find in the 3218 postcode.

    The pic i guess shows how Geelong's basically a waterfront city, and even though it's a western suburb it's only about 3-4 K's from Corio bay.

    Just thought it was interesting seeing this view, even as a local i haven't seen too many pics like this that highlight quite nicely how just about every suburb in Geelong is close to the water, which might be a reason why quite a few Melbournites are buying here to live (particularly the inner suburbs and Highton etc).
    [​IMG]
     
  18. Michelle Evans

    Michelle Evans Well-Known Member

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    Thanks for the info Dave- I've now switched my search to Geelong from Ballarat, though whether I can get into it or not... will depend on the amount of funds I can release from my ppr.
     
  19. roger vh

    roger vh Member

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  20. Pentanol

    Pentanol Well-Known Member

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    I'm not too surprised by this, Newcomb has really only started booming from around 12-14 months so it started after Corio has boomed for 2 years at that point. It really is the suburb to watch this year with a higher median income and less % renters so it's also got the OO attraction and less competition for tenants. If you can get it at a good price I'll still keep an eye on it.

    That being said, if you want to get a RGZ at an affordable price I'll go Corio close to the shopping centre!

    The corner block below looks interesting and I'll be interested to see what it gets!
    14 Kalver Street Corio Vic 3214 - House for Sale #127323822 - realestate.com.au
     
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