VIC Whittington & Newcomb (Near Geelong)

Hi Everyone,

I just wanted to get your thoughts on the suburbs of Whittington and Newcomb which are located around 5-6 kms from the Geelong CBD and are near Stingaree Bay.

Free Suburb Profile report for Whittington VIC (3219)
Free Suburb Profile report for Newcomb VIC (3219)

According to the suburb profiles, the median prices haven't moved drastically but they seem pretty affordable in terms of how close they are to the Geelong CBD. Suburbs such as Corio or Norlane are only slightly a bit cheaper but they are much further out compared to Whittington and Newcomb.

Therefore what are everyone's thoughts on Whittington and Newcomb in terms of capital growth prospects within the next 5 years.

Do you think now that Melbourne has peaked that these suburbs will now benefit as a result of the trickle out effect?

What other growth drivers do you see for these 2 suburbs?

 

@Dave3214 comments may be helpful.

 

Did a lot of due diligence on those 2 suburbs while we were hunting the beginning of the year.

Both were within our budget between 200K - 300K

Whittington - No-go zone for me. Drove around solar drive and decided not to buy in Whittington, although it's not good to generalise the whole suburb just by looking at one street. So in terms of growth, can't compare to Newcomb.

Newcomb - A nicer suburb, although not as nice as East Geelong. The price clearly tells the story. Almost bought this one: Sold Price for 10 Lucas Street Newcomb Vic 3219 But Logan ones suit more to us. Not that Logan ones are nicer than Whittington, it's just close to Brisbane and not a regional city like Geelong. We will definitely be looking at buying in this suburb, once tax return is done and valuations are done on our properties.

Part of Thomson close to East Geelong is also good to consider.

Corio and Norlane came to my attention later with this thread: VIC - First IP - Corio/Norlane or Melton

Hope these help.

 

I was looking at St Albans Park early this year and was keen on one property. We drove around the area and Whittington is next door..so we did a drive around and the contrast is obvious by street appeal. Whittington kinda discouraged me in buying one in St Albans Park. Geelong is only an hour drive away from Melbourne, so it's not whoop whoop.

 

I grew up all my life in Geelong, Whittington and Norlane are very low social areas and that's how they will stay. Logan would be an upgrade compared to those 2 suburbs
I would look at Hamlyn Heights, Herne Hill, East Geelong, Belmont, Waurn Ponds and even Grovedale.

 

+1 for these areas Belmont, Waurn Ponds and even Grovedale.
Cheers
PP

 

Just wondering, being a fellow Geelong-ite at what point may Norlane and Whittington's price points start looking silly when you compare it to suburbs that are only a few minutes drive further in? I'm a resident of Norlane West, been so for six years and i've thoroughly enjoyed living here in this time. Even on a micro level just tonight, when i had to drive a mate of mine into the hospital from his Highton home, it takes a lot longer to navigate from his place to the city than me from Norlane. I agree there are pockets of streets in both Whittington and Norlane that are the homes of those with social issues and embedded unemployment, but arguably that was the case with some capital city inner suburbs in the late '80's and early '90's.

If East Geelong, just 4-5 minutes drive from Whittington has a median price double that of the latter, and Manifold Heights, Geelong West, Rippleside and parts of Hamlyn Heights (say 6-8 minutes from Norlane) a similar price differential, does that seem kind of crazy when the actual distance is so minimal? You're not locked out of anything in those cheaper suburbs, and commute times and the amenities of Geelong are only moments further away. For me anyway, the $250K my mortgage is less here in Norlane than in Geelong West buys a hell of a lot of lattes and hipster meals (if i even wanted to partake in those). That's what i don't really get as a resident of these lower socio-economic suburbs. Geelong's not a massive city, i don't feel like i'm on another planet because of my postcode.

 

My parents live in Newcomb, and to be frank it's probably almost the property bargain of Geelong there. You're just over 3 kilometres from the CBD (well if you're near Boundary Rd anyway) and it's a quiet suburb that is well serviced by two major shopping centres and medical facilities. Garden St East Geelong, which is the epicentre of some astounding property growth is only a very short drive, or even a 10-minute bike ride from Newcomb, and as an example, a house at 107 garden St sold recently for over $600K, at around $1000 per square metre. Most of Newcomb's places are half that price.

Whittington is Newcomb's perhaps less salubrious sibling, only a short distance further from the CBD, and being of two distinct parts. Between Wilsons Rd and Boundary Rd it's mainly private residences and those properties are rising along with the East Geelong induced tide. Further East in the Solar Drive estate it's a bit different, with some of the courts that run off Solar Drive being commission homes and having some of the social issues that plague areas of Norlane. But there are private areas too in this same estate, and the overall prices are probably quite cheap too given the sort distance from the CBD and East Geelong. Hell, Whittington's the same postcode (3219) as East Geelong so that shows how close it is!

Like my feelings for my home of Norlane, i just can't help but think that in a city the size of Geelong, having some suburbs that are moments (and i mean just that, 5-6 minute commutes by car) further away than others which are double their median price.....that difference is stark and to me rather astounding. Melbourne's not like that, you don't halve property prices from say Camberwell to Box Hill.

 

Not sure why Dave but you are right with the how close Norlane is to the city. There may be a small good pocket in these suburbs but I don't see changing 50+ years of bad stigma. I think because Norlane and Corio are the edges of Geelong, and Geelong not going to spread that way they'll remain that way. Geelong is spreading the other way through Belmont to Waurn ponds and that area.

 

We were looking in Newcomb, and perhaps weren't patient enough to find something decent, and ended up buying in Belmont. Seemed that there were extremes coming on when we were looking - either just about to fall down, or high vendor expectations - nothing in the Goldilocks zone. Having said that, I still think the Newcomb has great potential, for all the reasons stated above. Whittington - less so, for me.

 

Saw this pop up on my facebook feed....and i didn't realise how long ago the Newcomb thread had last been broached. It's certainly moved a fair bit in this intervening period, and those who got in early are sitting on a nice little capital gain. But the drivers that i suspected would help way back are the ones now, with neighboring East Geelong into the $600K's in the period home area, there's been a natural overflow into the still nearby cheaper sections of the 3219 postcode.

Buyers’ perceptions of up-and-coming Newcomb are changing - realestate.com.au

 

What do you reckon this would be worth today?

 

If you're looking in the eastern regions of Geelong, I suggest you also click this link to help make your decision; Moolap Coastal Strategic Framework Plan

 

I’d say low-300k to high-300k easy. Are you planning to pull equity from it soon? That’s a pretty decent gain though. Congrats!

 

I agree with you....when the investors pull out places like Whittington, Norlane,and Corio will drop.

I feel that places like Belmont, Waurn Ponds, Mt Duneed are starting to really take off. I bought places in the Villawood Estate in Mt Duneed. I have not been disappoined....a 337k purchase is now 450k...a 260k purchase is now aobut 365k ...the later's growth was in 12 months.

I am now focusing on more expensive beachside suburbs...they are really taking off. I feel that Geelong has at least another 2 years of growth based on prices in Melbourne....

 

@sash still waiting for that book lol

 

no tengo time amigo...very busy....

looks like you have made money on your purchases

 

I'd dare say some pockets of geelong will have greater than 2 years of growth left. Melbourne lags behind sydney and geelong lags behind Melbourne.

Geelong has got everything except a casino. Its essentially a mini version of Melbourne.

 

If only it had a Mongolian barbecue restaurant!! My life would be complete...almost.

Interestingly, two of my cousins just this week have tossed in their Melbourne jobs, with commutes in one case about 90 minutes from Belmont to the CBD, and from St Albans Park to Laverton, and now have got jobs locally in the Geelong CBD. That's a reduction in commute times from about 90 minutes to say 10-15 for the Melbourne City one, and about 40 minutes less for Laverton. Maybe coincidence, but those extra 8-12 hours a week more leisure time must be considerable. The kids of the Melbourne cousin opined that they wished they had more time with Mum. That was enough for her to switch jobs.

My 'commute' is five minutes. With Melbourne congestion, maybe more of this could happen in the future?

 

That's happening more and more.

When i was hunting for an IP in geelong there were several occasions where I'd bump into people i knew from Melbourne that were searching for a PPOR in geelong for that very reason.

On one occasion someone i had not seen in a long time attended an auction i was going to bid at. Needless to say, i did not place bids on this particular house and they won it at auction!