Regional Property

Discussion in 'Where to Buy' started by Coastal, 28th Jun, 2015.

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  1. eeho

    eeho Member

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    I bought a couple of properties in Albury (North Albury and Lavington to be specific) in 2012 and 2013 and they are going great guns (touch wood)! Returning 9.21% and 8.56% respectively. I managed to find a fantastic property manager there too, which definitely helps.
     
    House, bob shovel, C-mac and 3 others like this.
  2. sash

    sash Well-Known Member

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    Yes...market there is doing well. Mine is North Albury..it is very close to amenities..

     
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  3. HUGH72

    HUGH72 Well-Known Member

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    Hi Sash
    Have you had many vacancies? I have looked at Albury on and off for a few years but haven't moved. The vacancy rate has at times appeared a little high but the yields are great.
     
  4. sash

    sash Well-Known Member

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    Occaisionally..it does take a bit longer to rent...than the capital cities.
     
  5. DaveM

    DaveM Well-Known Member

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    Anyone buying in Albury recently? I have been talking to an agent or two down there and they are seeing a lot of capital city investors buying in the mid tier property range.

    One was new to rental market and had only settled yesterday. Anybody from here?
     
  6. Biz

    Biz Well-Known Member

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    Ask yourself, has anyone built up serious wealth with regional property?

    I'll look at the big ones like Newcastle, Gold Coast, Geelong etc, probably wouldn't really even consider those regional but outside of that not interested. If the planning policy of this country changed and they stopped trying to shove more and more people into the capitals it could get interesting for some of those places but it's not what they seem to want to do.

    7000 Syrian refugees are going to be dumped in Liverpool / Fairfield Western Sydney? Why not sprinkle them out in the regionals?
     
    bob shovel likes this.
  7. Andrew H

    Andrew H Well-Known Member

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  8. Tony Fleming

    Tony Fleming Well-Known Member

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    I've got a few down that way. The bottom end has moved as well I can't buy my usual 2 bedroom units for sub 100k at 9% yield :(
     
  9. TMNT

    TMNT Well-Known Member

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    I know one that drives a bentley and is all over the media now ;)
     
  10. ross100

    ross100 Well-Known Member

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    any idea on romsey in melbourne, if anyone has any IP's there
     
  11. larrylarry

    larrylarry Well-Known Member

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    My first encounter with locusts was when we were on our way to Dubbo, hmmm in early 2000s. My car stunk big time and my wipers were wiping off guts of locusts...what an experience.

    I've visited Albury three times when I drove to Melbourne from Sydney. I like the town and it seems there's a lot of life in it. Is Albury still a buy? I guess if one is to buy, it will have to buy near the town centre.
     
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  12. Mr RD

    Mr RD Member

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    The refugees are going to Albury, Newcastle, and the illawarra, there is talk of Armidale, and some to greater Sydney. it is a mulit year program
     
  13. Mr RD

    Mr RD Member

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    Having spent most of my life in regional areas, i have seen generations of people make great wealth for themselves from regional property. Just because its not all over the papers dosn't mean its not happening. There are plenty of Sydney based players who come out to the regional areas looking for opportunities. I am always amazed at where people hold property.
     
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  14. beachgurl

    beachgurl Well-Known Member

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    Some of the NSW regionals are rising in value. I did an RP Data valuation today and it looks like a few of my cheapies are close to doubling in value since I bought in 07. Who would've thought? I didn't.
     
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  15. Mr RD

    Mr RD Member

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    Both towns have good economic fundamentals, these will come into their own over the long term
     
  16. WattleIdo

    WattleIdo midas touch

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    Am now invested in a town with population around 10K. I like the town and could easily spend many years here.
    Everything you say above is true. Except for the tradies. They're very affordable here in Parkes. Only problem is that they're so busy I have to get on a waiting list and that's if I'm lucky. They work flat-chat. Some 7 days/week.
    This is the strangest thing about the town. Some people work way too much and would love to slow down (me included) and heaps of people don't work at all. And never will.
    Edit: just realised I've already posted in this thread and have repeated myself. Sound like a bloomin broken record.
     
    Last edited: 9th Dec, 2015
  17. dabbler

    dabbler Well-Known Member

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    I would rather call it a lack of choice.
     
  18. dabbler

    dabbler Well-Known Member

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    Cause, it costs money & like homing pidgeons, they will head straight back to the capital once they can.... :)
     
  19. Azazel

    Azazel Well-Known Member

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    Yeah, there are plenty of places besides the Central Coast and Newcastle.
    Areas South of Wollongong still have plenty of potential.
     
    Chilliblue likes this.
  20. Chilliblue

    Chilliblue Well-Known Member

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    But the great buying opportunities will also soon pass