VIC Geelong 2020

{Note from mods - this thread continued from here: Geelong 2019 [VIC]}


Hello all

Currently doing some research on Geelong to add another property to my IP portfolio.

I have read quite a few comments saying that Whittington is an area to be avoided as it is a low socio economic area with the associated problems.

However when I look on Google Map I observe that Whittington appears to be relatively close to the Geelong CBD and foreshore.

In anyone's opinion would a property such as the following be a good long term investment play (betting on the gentrification of Whittington) or would it be wiser to just avoid the area totally?

4 Galaxy Court, Whittington, Vic 3219

I am also considering Newcomb as an area to invest however it seems you are paying around $100k extra relative to Whittington. However Newcomb is closer to the foreshore and CBD so it will always have a premium.

I am traveling down to Geelong on the weekend to scope the area out but I would appreciate any feedback from Geelong locals. Also feel free to suggest other suburbs/localities in the Geelong area that I should keep an eye on.

Many thanks!

 

Well, the folklore says you avoid the planet named streets since that's where houso is concentrated. 4 Galaxy Ct is line with that idea. As for gentrification, @Dave3214 can tell us what he thinks. Maybe play it safe and get into Norlane? Other than that, look around Geelong too, Avalon's been an international airport for some months now and the areas close to it have benefited from rising property prices.

 

@Westie you scaring me having bought something in Neptune Avenue recently ;-)
What is houso by the way!!

 

housing commission....

 

Can't correct my post above, but I meant Newcomb, not Norlane. Autocomplete fail.

 

Neptune Ave is different...that’s in Newcomb.

Whittington can be split roughly into 2 halves. West of Wilsons Rd is the half you want, closer to everything, far less rough, nicer homes. East of Wilsons Rd there is a public housing estate centred on Solar Drive, with various space-themed courts coming off it. That’s what @Westie is referring to.

 

Thanks @MikeyBallarat
I thought folklore is in general to all streets with planet names

 

What are your thoughts abt Newcomb though? Having grown a lot in last 2 years, do you see much growth further. I have just bought there but a bit skeptical if I have bought at the top of cycle and if there is any growth in near future?

 

There will be but I reckon places like Armstrong Creek.. Lara will do better

 

Agreed. Closer to Melbourne than the outer east with freeway or v/line the whole way.

 

Yep issue is no titled land. Too many people went for lower socio Melbourne...I just sold one made 325% profit

 

Yeah, I've noticed that. Thought of buying an acreage and subdividing it yourself?

Nice work there.

 

Nah. ..you crazy.. Geelong council is knits that I why there is a land shortage.. I will leave that to the big boys...

 

Yep. They are still a bit of this:

 

Bwaahhhaaaa ...LMAO ...very funny good one

The council there is putting all sort of restrictions on land development couple developers are slugging this out legally. Don't listen to usual nuffy brigade.

 

No worries all good Westie.

Going to look at a couple of properties in Newcomb and Belmont tomorrow. Seems bothe these areas are relatively close to Geelong CBD and around the price point I am looking at (around 500k)

Might swing by Whittington just to scope out the area as well.

 

Sash loves small deals.

 

Lara is definitely a lot closer to Melbourne... I hate the speed camera on the freeway. Got fined on one of my trips there @sash im still scarred.

 

Yep...remember who the David and Goliath battle.

I think the boat may have sailed for the 20% plus deals in Lara....

 

I believe you.