How are the regionals doing?

Discussion in 'Where to Buy' started by TMNT, 22nd Jul, 2016.

Join Australia's most dynamic and respected property investment community
Tags:
  1. euro73

    euro73 Well-Known Member Business Member

    Joined:
    18th Jun, 2015
    Posts:
    3,658
    Location:
    The beautiful Hills District, Sydney Australia
  2. euro73

    euro73 Well-Known Member Business Member

    Joined:
    18th Jun, 2015
    Posts:
    3,658
    Location:
    The beautiful Hills District, Sydney Australia
    We've been in Orange for 2 years already, selling brand new Dual Occ's (4 bedroom homes + 1 bedroom granny flats) for 565-580K , which is @ the price of new 4 bedroom homes.

    Killer deals. Killer rents ( now achieving $680 per week )

    Prices in Orange are up over 10% year to date. Rents are up over 8% year to date.Just the beginning. So whats driving it? Its very simple.

    Strong population growth is the first thing - which is being driven by the expansion of the public and private hospitals - Orange Medical Precinct is now the largest outside Westmead. That means lots of construction jobs and medical jobs, which means lots of well paid professionals moving to Orange now and for years to come as the hospital expansion continues
    Expansion of Newcrest Mining's Gold Mine ( Cadia East ) and opening of Regis Resources new gold mine, McPhillamy's - this means lots of high paying mining and construction jobs moving to Orange now and for several years to come as the mines expand further
    Department of Primary Industries HQ moving to Orange, - this means lots of Govt jobs moving to Orange in the coming years as the new office park is completed.
    Tree changers and young families relocating for lifestyle and affordability .
    New Medical School opening in 2021

    So we are seeing all kinds of pull factors and population growth - and most of it is from highly paid workers. All of this is creating /has created an incredible shortage of available/registered land in the area, which is driving prices higher daily. Still plenty of legs in Orange @Anthony Brew

    Next tranche of dual occ's coming very soon. Here's a reminder of the finished product...

    17 Buckland Drive, ORANGE, 2800, New South Wales

    35a Turquoise Way, ORANGE, 2800, New South Wales

    13 Stevenson Way, ORANGE, 2800, New South Wales
     
    Last edited: 24th Oct, 2018
    [email protected] and Toon like this.
  3. Brady

    Brady Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    1,404
    Location:
    Adelaide, SA
    What are you using for the 10% figure
    @euro73

    I know there has been growth in the area, I own a property in Bathurst - so watch the area a bit.
     
  4. Brody Hales

    Brody Hales Member

    Joined:
    24th Oct, 2018
    Posts:
    13
    Location:
    Melbourne
    What about Tamworth?
     
  5. Brody Hales

    Brody Hales Member

    Joined:
    24th Oct, 2018
    Posts:
    13
    Location:
    Melbourne
    Dubbo too.
     
  6. radioactive

    radioactive Well-Known Member

    Joined:
    3rd Mar, 2018
    Posts:
    128
    Location:
    Perth
  7. euro73

    euro73 Well-Known Member Business Member

    Joined:
    18th Jun, 2015
    Posts:
    3,658
    Location:
    The beautiful Hills District, Sydney Australia
    They are quoting the price of the land :)
     
  8. johnmteliza

    johnmteliza Well-Known Member

    Joined:
    28th Aug, 2018
    Posts:
    238
    Location:
    Mornington