VIC Investment property- Eureka Vs Wendouree

Hi guys, first time user. Hoping to get some insights from Ballarat local investors. I’m currently in the process of looking to purchase an investment property (priority is capital growth over yield). With my borrowing capacity, it looks like what I can afford is some parts of Ballarat such as Wendouree, Eureka & Sebastopol. Preference is a brick home, over 600m2 block and at least 3 bedrooms. Any insights into these suburbs and the potential growth, certain pockets etc would be greatly appreciated. Thanks in advance! Regards, Chris

 

I haven't looked into these areas before, though, you could use the search function to find some previous posts on Ballarat and the subsequent suburbs you listed.

 

Thanks Branden

 

Read this, very helpful: Ballarat Tip: The Capital of Western Victoria [VIC]

@Ko Ko Naing

 

Thank you! Was hoping to find more specific information about Eureka as a suburb

 

Eureka is a teeny tiny suburb in the middle of Ballarat East with very few sales, so it can be hard to get a handle on. Eureka St (or north of it) is a lot nicer than south of Eureka St.

Many homes that are actually in Eureka are listed as ‘Ballarat East’ or vice versa, because nobody in Ballarat seems to know where suburb boundaries are. The actual boundaries are Queen/Joseph streets to the west, Specimen Vale Creek to the north, Stawell/Kline streets to the east, and Pennyweight park to the south. I would have no issues investing there if the house was fundamentally decent and I actually prefer it to Wendouree, Alfredton, Sebastopol and the other newer suburbs.

 

This is exactly the type of insight I was looking for Mikey. Thank you so much for taking the time to explaining below to me, really appreciate it.

 

Currently we have two properties that we are trying to decide between. One property is in Wendouree (4 bed, 2 bath) and one in Eureka (3 bed, 1 bath). Both houses brick veneer and comparable land sizes. We can’t seem to decide whether the more central position of Eureka to the Ballarat CBD is more valuable than the extra bedroom and bathroom of the property in Wendouree, which is that little further out in comparison to Eureka. Does anyone have any insights into where would be areas of better investment? Any help would be greatly appreciated.