How are the regionals doing?

Any particular suburbs/pockets you would look at specifically? I was closely looking at Bendigo before covid hit. Couldn't get up there (I'm in melb) and didn't want to buy sight unseen, especially given the demand and how fast it's been moving. Stopped looking and am just starting to investigate again now I can head up. I was looking around Bendigo, golden square-ironbark pocket, or quarry hill-flora hill pocket originally..

 

For Bendigo, the traditional good areas are suburbs south of the city. This include places like Quarryhill, Strathdale, Kennington, Florahill etc. In recent years, part of Golden Square, North Bendigo and Whitehills have also improved in their desirability.

If you're investing, it will be hard for you to get good buys in the good surburbs as prices have gone up a fair bit. You might have better luck buying in the lousier areas which is to the North. These areas will rise in value later on, especially those on bigger blocks of lands.

 

Interesting developments in the Latrobe Valley (Moe/Morwell/Traralgon) area.
More jobs! A very good place to invest.
Alinta Energy to bring call centre to Latrobe Valley from the Philippines
There are large call centers in Traralgon, and Moe. Have been for years

 

You are joking, surely. Forget not the demographics, actual unemployment rate, land contamination and time-distance to Melbourne (despite the train it ain't fast).

 

Dienst, possibly I think you might not have kept up with the recent development, infrastructure, government spending in the Latrobe Valley. It sounds like you have a personal dislike for the area, and that's ok. There are plenty of other places to invest.
You state factors, with no comparisons, nothing to back up statements that put the area down.
Latrobe Valley in my opinion, has a lot to offer in terms of living, lifestyle, opportunity and investment.
On the investment side of things, property has been a very good performer. Particularly in the last few years.

 

No. You can look it all up on Atlas ID, on council reports and NGOs reporting on poverty. Various means of looking it up.

I've looked at the residential areas of the La Trobe Valley and with the exception of areas of Traralgon, I wouldn't go near it, sorry. You may call it personal 'dislike' if you wish; I call it weighing up the evidence.

 

Our values have gone nuts.A lot of people seem to be migrating from the A.C.T because of the explosive Canberra market.Literally no properties on the market,what is there is swiftly picked up.

 

Exactly the same thing in Goulburn, Albury, Wagga, Orange, Wauchope, Bathurst, Dubbo..... Tamworth and Armidale also taking off...land sales going berserk, but prices are still 150-160K for a 700-800M2 lot so they are really really affordable. Most subdivisions have strict covenants on title ; no duplexes, dual occs, house/granny etc..... unless you can secure exemptions/special conditions as we have, its going to mean very little investment stock is coming online. They already have plunging vacancy rates so we see big rental inflation coming.... ka~CHING for our clients who have banked 18 lots there already for construction to commence early next year...on the hunt for more.

 

It’s insane,our place has nearly doubled in value!Not quite there yet.But,it is all relative.

 

Hi Dienst, have you actually lived/ resided in any of the La Trobe Valley townships? (Moe, Traralgon, Morewell)? If you're just relying on data then you need to get out and experience it, a completely different storey is experienced. I've travelled there on a number of occasions for work and the region appears to be going very strongly... I wouldn't say booming, but residential house prices have increased and stock is in limited supply. The majority of the properties I've viewed in Moe hit the market with offers already made, I'm suspect that agents are listing them purely for advertising and promotion.
Moe in particularly is a lovely town, with plenty of young families moving in with still affordable house pricing. There's a number of new greenfield housing estates being established which will bring an increase in residents and a subsequent increase in spending/ economic activity.
Having spoken with a number of agents I understand that families/investors are being priced out of Warragul and now looking for the next town down the road, being Moe/Morewell to invest in.

IMO in regard to work opportunities, there is such a limited supply of commercial and industrial land of the right style for new businesses to establish themselves. There are a few properties for lease which I've seen on RealCommercial for a while so I suspect there are some issues with them. It would be great for a few new industrial developments to be released.

Thanks for sharing Bee! A good outcome for the area.

 

Hi all
I hope everyone is doing well
Just thought I’d give you all an update on what I’ve noticed happening at ground level here in Traralgon.
Well I’ll start with the housing market.
Boy oh boy is it flying! Prices have been going bananas pretty much all over town. Houses close to mine (close to town) have been getting really good prices, like this half finished house, probably would have sold for circa $300k 4 years ago.
https://m.realestate.com.au/sold/property-house-vic-traralgon-136820874
And this joint which the people have tastefully renovated has got a great price, was bought in 2020 for 230k
https://m.realestate.com.au/sold/property-house-vic-traralgon-136296634
There are many more examples just check out the sold section online.
Stock on the market is insanely low, to put some perspective on it there is 150 properties for sale on realestate.com.au, when we bought our joint around 2017 there was about 1400.
I havnt kept up with the rental market though I do know the prices are quiet strong, but something I have noticed is there is more properties for rent on realestate.com.au.
From an economic POV from what I’ve seen it’s been fairly resilient down here (although I’m not a cafe owner so I may have a different view then them). We will see how it all goes when Yallorn closes, as long as the government help like Hazelwood hopefully it will all be fine. 2026 is when Yallorn is due to close.
Other projects that have/are coming are the 300 person call centre from alinta, the lead battery factory, sea energy battery manufacturer, the Australian paper mill waste to energy , the coal to hydrogen project and many more. so it’s definitely not all doom and gloom with the coal mines shutting.
I’ll give you a bit of an update with what’s happening around town and I’ll attach some photos I took on a stroll this arvo.
- The aquatic centre is finished and my god have they done a great job with it. There are about 5 different pools, sauna, steam room, gym, water slides and water parks. A great place to bring the family.
- The performing arts centre is still under construction but it is coming along very nicely. The building is starting to take shape and from what I’ve heard they are trying to bring fairly large acts down as the theatre can take up to 750 people. Very much looking forward to this one opening.
-The butter factory has now completed stage one (I think this will be a two stage building). This building now has Traralgons own bowling alley, it has a bistro and I’m pretty sure they are new apartments there also. I must admit I havnt been yet though it is meant to be quiet nice. Stage 2 of the building is meant to be a gold class cinema .
-Some of the local pubs have got a makeover. Ryan’s has been re branded to the Traralgon hotel. The new owners have been renovating the premise and the renovation is starting to bring out the charm of the old heritage listed building. Another pub called the crown is getting a full makeover and turned into a sports bar.
There’s plenty more going on down here with rail trail upgrades, upgrades to some nature areas and much more.
To wrap it up Traralgon is has always been a great place for families but it has been going from strength to strength lately with all the amenities anyone could ask for.

 

Firstly congrats on your purchase back in 2017 in Traralgon, definitely a big winner. And I like that it's on the train line from what I see on the map. I think that's a very good thing. I believe regional towns like yours will continue to prosper for quite some time, that there'll continue to be a strong sentiment among people for a tree/sea change. My experience with getting tenants for my regional IP about 2 months ago was that it was crazy, with a lady from my real estate saying it's the highest demand for rentals she's seen in the 20 years she's be working as a property manager. She said it was due to a surge in people moving from Sydney. I saw on other real estate agents' websites words "due to unusually high demand (for rentals)". So I think the demand for sea/tree change houses is and will continue to be huge, with you obviously getting a surge from Melbourne. Well done financially and on lifestyle. Sounds like a terrific place to live. And to finish, I think you Queenslanders are on a winner too and for a long time. And those on big blocks, also big winners. Hope I haven't left anyone out, you're all winners, the boom goes on for mine.

 

Was driving around Moe earlier this week collecting data on currently construction and greenfield development sites and saw that the Della Torre Industrial Park has started works onsite. Certainly early days here as they are just performing the site cut, but it's great to see it underway.
From my understanding of information online, there is a total of 42 blocks in the estate, with 14 blocks in the first stage being constructed now.
It will be good for Moe to have new businesses and emplyment

 

What a great insight, thank you.
Are there any areas in Tralargon that are more preferred than others? The prices go from 300k to 1m

 

Hamilton is booming at the moment! Growth at 8.5% Better than Frankston!!

I purchased 4 months ago for 215k and just got a reval today at 300k! Insane!!! Thanks super money!! Lol!!!

 

i had to closed applications after one day on my place in frankston, this was post 2nd lockdown covid vic. agent said something like 50+couple walked through post covid 2 days later applicant was done and had a renter in 5 days! crazy!!!! i was told oh you'll only get 390pw by most agents then another agent laughed and said i'll get you 440pw and she didnt lie.

 

Certainly a wide price range!

 

Hi Merlin
Most areas of Traralgon are decent, some are better then others.
I live close to town and like it but there’s many other areas I would happily live.
Main part I would steer clear of is the Cameron street area.

 

Hi

Keen to gain some insights relating to regional towns in Victoria such as Stawell and Kerang. Strategy - long term investor, high rental returns, block size above 600m2, budget $300,000.

Thanks in advance.

 

you'd wanna be getting a place with a tennant in it already. save you the hassle right away. else youd be waiting a long time in those smaller towns....