VIC Geelong 2020

Discussion in 'Where to Buy' started by Alex123711, 16th Feb, 2020.

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  1. Alex123711

    Alex123711 Well-Known Member

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    Any thoughts on the growth prospects for Geelong? Also what are the good areas/ streets for IP in Geelong?
     
  2. Westie

    Westie Well-Known Member

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    Geelong's not a suburb, it's got like 30 suburbs of its own.

    While we're at it, what're your thoughts on growth prospects for Australia? Good/bad pockets would be good too, thanks.
     
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  3. sash

    sash Well-Known Member

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  4. Westie

    Westie Well-Known Member

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    Bejesus! Methinks the next correction is going to be bigger than the last one. This surely isn’t sustainable.
     
  5. sash

    sash Well-Known Member

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  6. Stav1480

    Stav1480 New Member

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    Looking for an investment property, Newcomb looks like a great suburb in a good location in Geelong close to everything and well priced Thoughts ?
     
  7. Westie

    Westie Well-Known Member

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    Yep, decent area. There are some parts you shouldn't invest in though, especially the one where the streets have space-themed names. Someone did a great post about Newcomb's good and bad pockets, can't find it. I highly recommend you read up other threads about Newcomb and paste in here if you find that specific post. Be aware the yields are poorer now than they were 2-3 years ago, so I suggest looking around Geelong proper too.
     
  8. Lions4Eva

    Lions4Eva Well-Known Member

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    Corio and Norlane still aren't bad at the moment. It might not be like 2016-2017 but I can see decent yields and growth for the future.
     
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  9. Stav1480

    Stav1480 New Member

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    Did some research found this map.
     

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  10. Lions4Eva

    Lions4Eva Well-Known Member

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    three years ago though - Surely some areas have improved now?
     
  11. wrcvr4

    wrcvr4 Member

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    What is the current thoughts on Newcomb ?
    We are looking to enter the world of IP and are looking at Geelong and surrounds
    Ideally looking for something close to neutral after tax benefits etc
     
  12. Westie

    Westie Well-Known Member

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    Doubt any half decent property would be close to neutral in the current market. Newcomb's a nice area (most of it) but the rental yield isn't great, most 3 bedders would be in the $350-$380 range and you can expect to pay upwards of $450k. Keep doing your homework and in the areas around Geelong perhaps look at buying a block and building on it (if the numbers stack up).
     
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  13. wrcvr4

    wrcvr4 Member

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    Thanks Westie
    We are also considering building in Ocean Grove
     
  14. wrcvr4

    wrcvr4 Member

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    Does anyone have any thoughts on Ocean Grove ?
    Its only a short distance from Geelong, people are moving here and commuting to either Geelong or Melbourne for work

    Talking to estate agents, properties rent easily, and are seeing good growth

    We are looking at a 10-15yr timeframe, and are wondering what people think of this area ?
     
  15. Westie

    Westie Well-Known Member

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    I've been to OC several times. Very nice area, plenty of stock regularly goes for the $1m mark and above. Lots of OOs. IMO, good to invest in. I don't hold an IP there.
     
  16. innovatism

    innovatism Well-Known Member

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    Any thoughts on Highton? Last 3 years growth is good and suburb profile is good too.
     
  17. Westie

    Westie Well-Known Member

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    A colleague bought a nice house in the new parts of Highton (Highview), the area to the left of Barrabool Rd when you get off the freeway. He loves it there. Commuting to Melbourne can be a pain but once you're on the Vline, it's not too bad I gather. According to him, his house has appreciated significantly in value, that may just be because he bought into the earlier stages of the estate. He reckons it's safe and a mostly OO suburb. The rental yield is poor.
     
  18. Rex Alexander Woo Aquino

    Rex Alexander Woo Aquino Member

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    Any thoughts about land and house package on Armstrong creek?
     
  19. Westie

    Westie Well-Known Member

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    Probably too late now unless you find a cracking deal.
     
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  20. Rex Alexander Woo Aquino

    Rex Alexander Woo Aquino Member

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    Won't you advise those L & H package? Tnx