VIC Morwell/Traralgon

Discussion in 'Where to Buy' started by lazaa228, 15th May, 2021.

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  1. The Y-man

    The Y-man Moderator Staff Member

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  2. Astute Investor

    Astute Investor Well-Known Member

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  3. Jared7138

    Jared7138 Member

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    I'm looking at Churchill, 350k. What do you think? Is it overpriced? Are you concerned about the new lead smelting factory?
     
  4. skater

    skater Well-Known Member

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    Churchill? University town with good yield that gets decimated by lots of vacancies over the holidays. Or at least that's what it was 20 odd years ago when I researched which town was the best to invest in, out of Moe, Morwell, Traralgon & Churchill.

    Times my have moved on now, and I'm not buying, so don't really need to look any further.
     
  5. UNITS4ME

    UNITS4ME Member

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    This is more that just an interesting substitute for gas. The Loy Yang coal is to be used to produce hydrogen, which will be used to provide electricity for much of Japan for decades to come. This is on a massive scale. Google Hydrogen Road. The $500M pilot plant is already built.
     
  6. sauber

    sauber Well-Known Member

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    Get me down to funky town!
    hey all,

    thought id just post something, Now during the pandemic we knew that these areas were a dogfight to get into, now I've just come back to looking in this area and OMG the amount of stock on offer is crazy! has the interest rates cause this and people are offloading stock???
     
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  7. fliedlice

    fliedlice Well-Known Member

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    Hi Sauber. How’s your Hamilton property doing?

    Would it be related to the coal plant or paper mill company shutting down? I heard that Traralgon had a diversified economy but I was thinking that those two employers were really important for the suburbs. Do you think that people are moving away from Traralgon?
     
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  8. sauber

    sauber Well-Known Member

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    Get me down to funky town!

    Hamilton property is going amazing!!!!! Sooo happy I bought here!!!! I had the house Val'd at 330k (bought for 215k) yield 6.3%! just recently I've only put on a new roof (stock market paid for that) so free and cut some trees down and moved a hws and that's it! and with Reno's 3br house going for 430+

    There. Has been alot of flipping going on there. Saw a house get flipped twice in one year one person owned for 3 months and made 100k on Rippon Rd! After a flip had been done I kid you not! Crazy!

    I'm WELL under the median rent . The median rent here 350-400 P/W and people pay it! Big things happening here! Big builders moving in and buying up acres of land! Council just approved a 300 site estate late last year aswell. I can understand why the builders are moving into Hamilton it's got everything here it's. Very well established town!!! Mind you I was laughed at the start.....I had a mate come in here last year flipped a house and made 200k! And then moved on!
     
    Last edited: 19th Mar, 2023
  9. sauber

    sauber Well-Known Member

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    Get me down to funky town!
    Here's an example.

    Rippon rd Hamilton
    Sold 2020 - 195k
    then sold 2022 for 449k
    then sold again 3months (nothing done) later for 512k

    heres another example

    Laidlaw St Hamilton
    Sold - 195k
    then sold again end of 2022- 430k (was asking 470k)

    Flipping market strong in Hamilton - if your a flipper I'd recommend going there.
     
    Last edited: 19th Mar, 2023
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  10. Calder&Scale

    Calder&Scale Well-Known Member

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    Surprised it can demand such high prices. Isn't the population only like 10k?
    You could go for Latrobe, Wodonga, Shepperton, outer Ballarat or Colac for those prices which would all have a ******** more jobs. Also, basically every regional property has boomed over the last 3 years so it's hard to tell which areas still have legs.

    Not hating, I think any of the regional hubs earmarked for strong investment on Vic Planning will have been great places to buy 10-20 years from now.
     
  11. sauber

    sauber Well-Known Member

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    Get me down to funky town!
    Correct!, just shy of 11k at the moment. The main regional hub for the sth west.
    great primary and secondary schools, and sth west tafe/uni excellent sporting facilites with new upgrades!
    bunnings, maccas, kmart, target, kfc, mitre10, coles, aldi, woolies, adairs, bakers delight, all those main shops etc, main hospital, train station to reopen to ballarat, (only just announced last week) roads to be fixed under the new regional roads project from vic government, airport, EV charge stations. plus as mentioned earlier big builders coming in now! council selling off vacant land to builders.

    if I had to move to the country id move to Hamilton, beautiful place! excellent community! mind you im living on a remote island atm, and I've got literally NOTHING! here so having all this again would be spectuaclar.
     
    Last edited: 19th Mar, 2023
  12. strongy1986

    strongy1986 Well-Known Member

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    Hamilton might be smallish but it is the largest town in its area with Warrnambool 75 minutes away. So there would a quite a lot of gov service jobs there to service the surrounding smaller towns.
    Other reasons smaller towns are more desirable are you get a better community feel, less chain stores, less traffic, probably no centrelink and the population that attracts, probably no correctional facilities, bigger blocks of land and a more leafy/ green environment. As long as said small town is within 30-45 minutes of somewhere bigger then people dont mind the travel for a better lifestyle.
    If all people wanted was easy access to jobs and conveniance stores then they would live in the city
     
  13. sauber

    sauber Well-Known Member

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    Get me down to funky town!
    Correct!!! So any direct to Horsham Warrnambool or Portland is 1 hr.
     
  14. fliedlice

    fliedlice Well-Known Member

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    What are people’s thoughts here about Traralgon’s largest employers closing? I personally really like Traralgon (and would live there myself, if there was employment in my industry there). I’m looking for an IP under $350k and there are a few ones in Traralgon but I’m cautious because of the large employers shutting down and worry that people would be moving away from it within a few years.

    Only other option would be looking at Moe/Morwell but although they’re slightly closer to Melbourne, the population there is even smaller than Traralgon.
     
  15. skater

    skater Well-Known Member

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    You're looking at the lower price bracket. There will always be people wanting to rent, or buy into that price range.
     
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  16. fliedlice

    fliedlice Well-Known Member

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    Thanks for that Skater. I'd be glad that people would be renting the property there (so i won't have to worry too much about having an empty IP). But do you feel that property values would go down in Traralgon? Because of the closing of the largest employers in the area.

    My greatest fear is that the property prices would decrease within 10 years.
     
  17. skater

    skater Well-Known Member

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    Nup! I owned property in Traralgon for over 20 years. Never vacant. Mine was in the lower socio part of town. Even if things get tough, these properties aren't vacant.
     
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  18. Crazy ideas

    Crazy ideas Well-Known Member

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    Wow Traralgon 20 years ago. Kudos to you. It was rats leaving a sinking ships back then.

    In a way it would be a great place for a nuclear plant. However i dont think we should in any way build one. But if you were - it would be a suitable place.

    As a sign note have you seen the health outcomes out there? Kinda crazy. Doesnt say a lot about the pollution of coal power stations.
     
  19. skater

    skater Well-Known Member

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    Haha, no. Sold up to retire.
     
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  20. PUG

    PUG Member

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    Latrobe City Council is investing heavily into Traralgon, then Morewell and somewhat Moe. Strong local economy in Traralgon, it wont be going anywhere and I'm sure we'll all be sitting here in another 20 years talking about it still. I would expect the power station to close and the economy to transition, as it already current is doing.
     
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