VIC Yay or Nay for Wodonga/West Wodonga IP

Discussion in 'Where to Buy' started by KevinJ, 10th Dec, 2017.

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Good market for 5 year growth horizon

  1. Yes

    5 vote(s)
    71.4%

  2. No

    2 vote(s)
    28.6%

  3. Undecided

    0 vote(s)
    0.0%
  1. KevinJ

    KevinJ Well-Known Member

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    28th Apr, 2017
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    Location:
    Sydney
    Has anyone invested in the Wodonga/West Wodonga market or surrounds. The area was recently brought up over dinner and has excellent yields/cash flow fundamentals and limited growth over the past 10 years.

    Seems to be a buyers market and many brick homes have a gross yield of over 6% on 80% LVR.
     
    KevinJ, 10th Dec, 2017
    #1
  2. Madcatters

    Madcatters Active Member

    Joined:
    7th Jan, 2017
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    Location:
    Melbourne
    Plenty of land to build new properties up there but not in more central areas, but I’ve been looking into it myself so I’m interested to see this thread
     
    Last edited: 10th Dec, 2017
    Madcatters, 10th Dec, 2017
    #2
  3. KevinJ

    KevinJ Well-Known Member

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    Sydney
    I've never been on the ground there, but the numbers seem to stack up. Had friends that bought heaps of older style 3,1 brick homes in Taree after the floods and had close to double growth on each whilst being positively geared from day 1.
     
    KevinJ, 10th Dec, 2017
    #3
  4. devank

    devank Well-Known Member

    Joined:
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    Location:
    Inner West - Sydney
    We bought a simple house in 2013 for 230K in West Wodonga.
    We still have the same tenant. They don't hassle me unnecessarily.
    I don't increase the rent much but just $5ish a year.
    Growth isn't like Sydney's but steady.
    It has a uni, hospital and defence. Not depending on single industry.
    I thought it would be a safe location.
     
    devank, 10th Dec, 2017
    #4
    Chrystee and tommo c like this.
  5. KevinJ

    KevinJ Well-Known Member

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    28th Apr, 2017
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    Location:
    Sydney
    Is there a reason why you choose West Wodonga over Wodonga in general. The prices are similar, but Wodonga currently has a slightly higher yield. Not too sure about the micros since I've never been there.
     
    KevinJ, 10th Dec, 2017
    #5
  6. devank

    devank Well-Known Member

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    Location:
    Inner West - Sydney
    I can't remember now but possibly because West Wodonga had better socioeconomics.
     
    devank, 15th Feb, 2018
    #6