Join Australia's most dynamic and respected property investment community

NSW Regional NSW

Discussion in 'Where to Buy' started by Ardi, 3rd Aug, 2015.

  1. Ardi

    Ardi Well-Known Member

    Joined:
    20th Jul, 2015
    Posts:
    172
    Location:
    Orange
    Howdy all,

    What are peoples thoughts on regional NSW? Looking for positive properties with some value add potential.
    Towns like Bathurst, Dubbo, Parkes, Orange, Armadale?

    Cheers
     
    VeronicaR and WattleIdo like this.
  2. Azazel

    Azazel Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    8,113
    Location:
    Brisbane
    I like it. But keep in mind, it's a pretty large generalisation, like the Australian RE market. All the different areas are doing different things at different times.
    There are always going to be places you can make money in regional areas. Sometimes you need to study the demographics, infrastructure, employment etc... Sometimes it just does what it does and defies logic.
     
  3. Phil_22

    Phil_22 Well-Known Member

    Joined:
    28th Jul, 2015
    Posts:
    86
    Location:
    Regional, NSW, Australia
    Armidale :)

    Always provided low occupancy and good yield.

    I think there is good potential for capital growth over the next 5 - 10 years. The local member is certainly focused on improving the town.
    There is a massive upgrade to the local hospital getting underway later this year, upgrade to regional airport held in Armidale also plus opening up of more industrial land linked with NBN fibre already completed.

    People will tell you that Armidale is too reliant on the university & with UNE having went online that is a worry, however internal student numbers are still very strong and are indicative of a number of the courses that UNE provides being heavily reliant on face to face learning and heavy practical elements.

    I advocate for an IP at Armidale based on low vacancy rates and solid year coupled with some good signs of potential for growth.

    Cheers,

    Phil
     
    Last edited: 3rd Aug, 2015
    WattleIdo likes this.
  4. Azazel

    Azazel Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    8,113
    Location:
    Brisbane
    Tamworth isn't that far away and has gone pretty well recently too I think?
     
    WattleIdo likes this.
  5. Ardi

    Ardi Well-Known Member

    Joined:
    20th Jul, 2015
    Posts:
    172
    Location:
    Orange
    I like Orange as prices are low and i think will get worse due to the downturn in mining at Cadia and Electrolux closing.......i am thinking buy when others are scared or selling?
     
    WattleIdo likes this.
  6. Phil_22

    Phil_22 Well-Known Member

    Joined:
    28th Jul, 2015
    Posts:
    86
    Location:
    Regional, NSW, Australia
    @Azazel yep correct it's about an hours drive 110Klms south of Armidale.

    I think Tamworth is starting to get an oversupply of property there is a lot of new housing development happening/happened there.
     
    WattleIdo likes this.
  7. Azazel

    Azazel Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    8,113
    Location:
    Brisbane
    Buying near the bottom is better than buying near the peak. I have mixed thoughts about it because I don't like to see people losing money, but on the other hand someone is going to buy it.
     
    Tekoz and Ardi like this.
  8. serendip

    serendip Well-Known Member

    Joined:
    19th Jun, 2015
    Posts:
    57
    Location:
    Newcastle
    Why do you like it if you think prices are going to depreciate?
     
  9. Ardi

    Ardi Well-Known Member

    Joined:
    20th Jul, 2015
    Posts:
    172
    Location:
    Orange
    I think it may fall a touch more, or is at bottom of the cycle. I think the lack of confidence due to the above points is not as bad as it is being talked up. And very little competition
     
    WattleIdo likes this.
  10. HUGH72

    HUGH72 Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    2,117
    Location:
    FNQ
    Vaca
    Vacancy rates are still quite high in Orange, my cheapie had one large rent increase about 4 years ago but its been flat as a tack ever since for rents, great yield but prices don't appear to be going anywhere fast.
     
    WattleIdo likes this.
  11. Inov8ive

    Inov8ive Well-Known Member

    Joined:
    17th Jul, 2015
    Posts:
    480
    Location:
    Sydney
    Parkes is a great town, real little community with great yields but CG is barely happening. I often keep on eye on certain regional areas such as the upper mountains, Parkes and The Hunter Region but don't think I would ever really buy something unless it was a great deal with development potential or something
     
    WattleIdo likes this.
  12. WattleIdo

    WattleIdo renovating Premium Member

    Joined:
    18th Jun, 2015
    Posts:
    1,808
    Location:
    Central West NSW
    Yes to all these. The stigmatised, ugly, unrenovated houses in great places are there. Bought a renovator's delight a few months ago for a good price/ good yield in Parkes. There are others around. As far as towns go, it's a good'n.
    The other towns/cities are a lot bigger. I'd be careful in Dubbo because it's had such good growth. Time to start having another look at Orange? Bathurst sounds good. Don't know Armidale. Also like Tamworth.
     
    AndrewTDP and Ardi like this.
  13. WattleIdo

    WattleIdo renovating Premium Member

    Joined:
    18th Jun, 2015
    Posts:
    1,808
    Location:
    Central West NSW
    10 or so years ago everything just doubled. Must've happened a few times as one lady told me she bought her house for 29K when 1st married. Not sure when next CG spurt will occur so best to go for renovation of stigmatised property or development if that's your thing.
     
  14. Inov8ive

    Inov8ive Well-Known Member

    Joined:
    17th Jul, 2015
    Posts:
    480
    Location:
    Sydney
    Yeah fair enough. I'm by no means an expert on Parkes, just been keeping an eye on the property there because I really like the town. In the 5 or so years that I've been actively investing in property it hasn't really seemed to move much. In which case, it could be due!
     
    WattleIdo likes this.
  15. WattleIdo

    WattleIdo renovating Premium Member

    Joined:
    18th Jun, 2015
    Posts:
    1,808
    Location:
    Central West NSW
    Who knows? They say the miners will return and I'm sure they will but when? The main thing to watch for is the expansion of the 'transport hub' . When the inland rail gets the official go-ahead it'll be on. Fingers crossed for me. :)

    I like the town and so do lots of people. Can I ask what the appeal is for you?
     
  16. Inov8ive

    Inov8ive Well-Known Member

    Joined:
    17th Jul, 2015
    Posts:
    480
    Location:
    Sydney
    I know a few people who live there and so have visited the place quite a few times and met a lot of local people. I like the general spirit of the town I think, people are friendly and well to do, the shops aand cafés are reasonable and it's a place that I could easily spend time in.
     
    WattleIdo likes this.
  17. WattleIdo

    WattleIdo renovating Premium Member

    Joined:
    18th Jun, 2015
    Posts:
    1,808
    Location:
    Central West NSW
    Yeah agree. The people are great. Nice new swimming pool, too.
     
  18. Gibson

    Gibson Well-Known Member

    Joined:
    29th Jun, 2015
    Posts:
    109
    Location:
    Sydney
    What impact (if any) will the poles and wires sell off have for the Central West? Lithgow, Bathurst and surrounds have large work forces indirectly reliant on electricity sector jobs.

    I like a few spots just outside the major towns but question the long term employment security. For example Millthorpe is a beautiful spot not too far out of Orange and Bathurst, bit of a village feel w great cafes and stores..
     
  19. Darlinghurst Boy

    Darlinghurst Boy Well-Known Member

    Joined:
    29th Jun, 2015
    Posts:
    866
    Location:
    Darlinghurst Sydney
    Having a glance at Orange it does seem to be expensive for a Country Town.

    Speaking if Country towns, I would hate to buy an IP In a town with only one Real Estate agent to manage it for you.
     
    Last edited: 4th Aug, 2015
  20. Chilliblue

    Chilliblue Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    1,578
    Location:
    Australia

    Have you thought about going 1- 2 hours drive south or north of Sydney? Some better buys to be had.
     
    Ben Wilkie, BuyersAgent and Azazel like this.