NSW Orange NSW and Central West

Discussion in 'Where to Buy' started by dabbler, 28th Sep, 2019.

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  1. dabbler

    dabbler Well-Known Member

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  2. dabbler

    dabbler Well-Known Member

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    It is an old story btw......work well under way for some time.....
     
  3. Prospekta.mf

    Prospekta.mf Member

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    There's certainly appears to be no land shortage in the Orange/Bathurst areas so I'd do my sums first before investing in these areas as land scarcity is unlikely to be a contributing factor for capital growth however there does seem to be a big population increase on the cards if you look at recent forecasts. If there's anyone considering Orange as a town to move the family to etc the central west is a beautiful area to visit, nice wineries and fresh produce, beautiful surrounding bush-land and historic goldfields, very cheap living compared to the cities. However...do yourself a favor and spend a day shopping in the local supermarkets, last time I was there I could have sworn that I was in the Mt Druitt Kmart store ...can be quite an eye opener, but I suppose very town/city as them.
     
  4. hash_investor

    hash_investor Well-Known Member

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    Lol... Why? Bogan population?
     
  5. dabbler

    dabbler Well-Known Member

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    Yeah, you def see it all, when you think of country towns, you have to think it is Mosman, Bondi, Mt Druie, Campbelltown all rolled into one space, and while there is 2 maccas, 2 woolies etc, you do have to accept you will be shopping with non elites, but then again, who at Coles and Woolies can claim to be so elite?......I mean you can have it delivered if it bothers you...

    At least there is a lack of religious maniacs willing to stab you or run you over potentially, I would be more worried about the bogans dogs than the shoppers, however, your taking renters money, there is no need to live here if you do not want too, so it is of little concern if you screen, people have a right to have a lax dress sense :)
     
  6. Yamas

    Yamas Active Member

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    Long time lurker and a bit self-serving from me, but Parkes also seems to be going well in the Central West. I bought an IP there around around the 250k mark and currently renting at more than 300/wk. Inland rail will accelerate logistics industry (and construction short term), airport recently upgraded, hospital recently upgraded, Newell Highway bypass will bring more construction, water infrastructure currently being upgraded. Some new mines in the region in the pipeline (ie CleanTEQ Sunrise), with some others having increased their output (North Parkes Mine).
     
  7. euro73

    euro73 Well-Known Member Business Member

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    Plenty of paddocks yes. Not so many lots with water, sewer, power etc though ... There is simply a shortage of lots registered and construction ready ...and that has been the case for @ 3 - 4 years. Nothing major... people aren't camping out for days to secure land.... just enough of an under supply to nudge land prices up by 20-30% and rents by 15-20%. Those are solid numbers by any measure. They become especially impressive numbers though, when you consider this; they have been doing record levels of construction there for that same 3 - 4 years . Something like 40% of all new home construction in regional NSW over the past couple of years has been in Orange apparently - astonishing stats really when you think about it . Yet, in spite of all that construction (300ish homes per year) the vacancy rate has still fallen during that time and the cost of land has climbed 20-30%... That tells us that the population is growing

    I said a few years ago I believed this was a treechange and young family trend that wasn't being picked up on yet... and that it was happening in at least half a dozen regionals within striking distance of SYD and MEL - such as Orange, Bathurst, MIldura, Bendigo, Ballarat and Goulburn - because many traditional sea change locations had become too expensive - and I stand by that. I think there's been a bit of a jump in population and a real change in demographics in all those locations as a result.... and I suspect the next census data will show that to be the case.

    It wont be like this forever in Orange ( or the other regionals doing well right now) ...nowhere ever is... but there are still quite a few jobs coming online in Orange throughout 2020 and 2021 so there's another couple of years of these modest upward pressures on land prices and rents, yet to come .. it will probably settle down into a plateau for a good few years after that ...unless the tree change thing becomes a mass tree migration :) But thats fine. The rental yields are so good now that they could plateau/ stay at this level for many years while rates are this low and they would still be very strong...
     
    Last edited: 10th Oct, 2019
  8. dabbler

    dabbler Well-Known Member

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    Yes, has been doing well out in that area too, which really is the Central West.

    Parkes is supposed to be the hub in the middle, will be interesting to see how it develops, what is needed though is a proper freeway over or through the mountains, however I do not realistically see it happening anytime soon.

    Years ago it used to take 6hrs to drive to the coast around Pt Macquarie, it is now about 3 and a bit hrs, Parkes is about 4.5, but imagine the change to the whole region if it was a 2-2.5 hr trip.

    Bathurst is same, it used to be about 4hrs, now is about 2hr 45m depending on where in Syd, a good freeway would make it an hr something.
     
  9. WattleIdo

    WattleIdo midas touch

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    Please let Parkes stay the beautiful quiet friendly affordable town it is. Starry nights, peaceful, fresh, quiet mornings. Walk everywhere if you want to.
    However, 2015 purchase has done well with capital gains (nearly doubled). Rental vacancies are low.
    Miners are back in town and supermarkets are stocked with top quality brands and massive variety again.
    Level 2 water restrictions vs both Orange and Dubbo getting to 5.
    Forbes only at level 1.
     
    Last edited: 11th Oct, 2019
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  10. euro73

    euro73 Well-Known Member Business Member

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  11. euro73

    euro73 Well-Known Member Business Member

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    Medical. The jobs keep coming
    Mining - Newcrest Cadia expanding. Regis Resources launching McPhillamys
    Growing tourism industry
    Agriculture jobs
    Government jobs
    Affordable

    these are the reasons the population in Orange is growing , vacancy rates are falling and the town is doing so well. We chose this location knowing all of this was coming .... and there’s more to come
     
  12. Fargo

    Fargo Well-Known Member

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    If that is all, nothing special here. Sounds run of the mill. It is standard stuff for a regional centre most have all that and some have all or some of this -- Aero-industry, booming renewable energy industry, interemodal and other transport hubs, construction, scientific research, Education and training,manufacturing and food processing , sports, entertainment, Life style and retirement. Some don't have falling vacancies as the vacancy rate is zero.
     
  13. euro73

    euro73 Well-Known Member Business Member

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    Really? Run of the mill? That's an interesting insight...... So you are suggesting/implying that most regionals that have large employment generating assets similar to the largest Gold mine in the Southern Hemisphere, and the associated high paying mining jobs? And a $685 million expansion to that Gold mine, and the associated mining and construction and engineering jobs? And another Gold Mine opening on the other side of town, with all of the associated mining and construction and engineering jobs? And the 2nd largest medical precinct in the state ( which makes it larger than several capital cities largest medical precincts) and the associated medical jobs? And large/expanding university campuses with large dental schools and medical schools? And large tourism industries? And population growth of 1.3%? And serve as the HQ for all leading pastoral banks? And have large Govt departments relocating there? And have the most stable real estate market in the country for 20 years running ? That's what you are implying, right?


    OK. Lets say we accept all of that. I guess you’ll have no issues whatsoever providing the names of all those other regionals where those things are happening then?

    And I’m sure you can also provide the names of the regionals who have all those run of the mill things going on, who are also enjoying zero vacancy rates as claimed?

    We look forward to your response....
     
    Last edited: 16th Oct, 2019
  14. euro73

    euro73 Well-Known Member Business Member

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    Hmmm...... 32 hours after your post......


     
  15. euro73

    euro73 Well-Known Member Business Member

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    Approaching a week now..... stick crickets?

    Safe to say nothing special going on with the content of the post above.... about the only thing run of the mill is how loose it is with the truth. Booming BS. Accuracy rate is zero.
     
    Last edited: 22nd Oct, 2019
  16. dabbler

    dabbler Well-Known Member

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    I think one thing Orange really has, that maybe only some other coastal regionals have, is, people actually want to live there...where as some towns have same appeal that they had 30 years ago.
     
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  17. euro73

    euro73 Well-Known Member Business Member

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    Yes it's a great town. Every client of mine who drives out to look at it has the same feedback.
     
  18. euro73

    euro73 Well-Known Member Business Member

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  19. euro73

    euro73 Well-Known Member Business Member

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  20. euro73

    euro73 Well-Known Member Business Member

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