NSW Orange, NSW

Degrees of help: CSU campus worth $28m and 400 jobs to Orange economy

 

Thanks for the updates.

 

We TOLD YOU there was a clear trend starting to emerge. Finally someone has done some work to identify it and quantify it, and as we suspected there is a clear migration to larger regionals underway .

Homeowners are ditching big cities for regional communities

 

Hey @euro73 Howdy!

I'm looking to expand my portfolio. Next on the card is a property which will give me capital growth.

Where is the new hospital coming? Which areas do you suggest I should be looking in the orange town. I see the north orange side is booming

 

The hospital /health services precinct is on the southern side of Orange.



Yes, North Orange has been gangbusters.... the subdivisions released there sold out fast and prices jumped quite a bit. There is very little land available anywhere in Orange any more...

WIN News Central West


There is a new subdivision planned for the Shiralee Road corridor, which is close to the hospital. Pretty much all sold out though... some builders are now re-selling them 30-50K above what they paid for them...





Other than that, there is a new subdivision planned for the North West.... still under discussion with council thoiugh, so who knows if it will happen or not.

https://www.facebook.com/video.php?v=528334000940327

‘Real shortage of houses’: Seller's market as buyers' demand far exceeds supply

https://www.facebook.com/video.php?v=973151899557278

There are still some cheaper lots in Paterson Gardens, but they wont allow any duplexes or Dual Occ's there - which is what I focus on exclusively. Luckily for my clients - the builder I work with has options on multiple lots for 2019 and we wont be paying anywhere near the prices that are being asked right now.

For 2018 we are sold out though.... if you want a Dual Occ from the 2019 tranche you'd need to get in touch and get on the waiting list

 

Thank you for the insights.

 

I see lot of Airbnb stuff in Orange. Is it so popular over there? Not sure how these guys managing remote if they have remote ownership

How is the CBD development? Any money thrown in there like surrounding the station, cafes etc

 

Go for a drive. Have a look. I can tell you how well it's going but you should take a look for yourself.

 

Planning begins to transform Orange’s CBD - Orange City Council

Council has plans to transform the CBD area and also talk on potentially rezoning north of Summer St to expand the CBD towards the old hospital site as it is being redeveloped into the Department of Lands office. Interesting to see what ends up happening in the future.

 

Our latest builds

https://www.realestate.com.au/property/17-buckland-dr-orange-nsw-2800

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

 

Meanwhile....

 

Orange economy thriving at every turn - Orange City Council

 

https://www.facebook.com/video.php?v=1836020743133578

 

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...

https://www.raineandhorne.com.au/orange/properties/17-brunswick-street-orange-2800-new-south-wales

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

13 Stevenson Way, ORANGE, 2800, New South Wales

 

Colour City is 'Australia's most consistent property market' says analyst | Graphs

 

I may be ready to buy an Investment property soon, will seriously consider this even if I have to sell my under performing rental

 

Latest dual occ on William Maker Drive , Orange has just been handed over. 4 bed house and 1 bed granny flat. Raine and Horne have secured $680 combined rent for the happy new owners . The house and granny flat have both been tenanted within 1 week of handover. Clients paid 575K . Land prices have climbed since that lot was secured, so prices are nudging 590-600K for this kind of package now. In spite of the naysayers, prices are continuing to surge and rentals are continuing to surge.

I have 3 dual occs on 700m2 + lots available soon

30 William Maker Drive, ORANGE, 2800, New South Wales - Raine & Horne Orange

30a William Maker Drive, ORANGE, 2800, New South Wales - Raine & Horne

 

They are building a new shopping area, just started now, it is in the old building on Summer st.

They are increasing the North orange shops as well, although I have not seen that start yet.

 

The drive, yeah, painful and the cops are hiding everywhere, has improved over the years, but it needs a proper expressway to really open the CWest, but do not hold your breath,

Nah, that is rubbish about the temps.

When it is minus 8, don't worry, it feels just as cold in Syd, I feel it is the drier air that makes a difference, also, most people are not sleeping outside in the early AM. It is usually 5 degrees cooler than Syd, but air dryer and sun is often shining, but if it is cold and wet with a wind, yeah, you will feel it if stuck outside without the right clothing.

 

Why do so many people rent anywhere?

There is a lot of owners too, but there is a proportion who would not be permanent, such as in mines and related and healthcare...as well as those who will always be renters for whatever reason.