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  • Avatar of brendogsbrendogs
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    Hi there I have been spending alot of time reading through these forums to find as much information about these 2 areas to purchase an IP. I have a few questions which I couldn’t find any direct answers or opinions for so here goes!

    I am having trouble finding vacancy rates for either suburb, I found an article stating that in march 2010 Bendigo was sitting under 0.7% vacancy rates obviously making it attractive for investors in the area and giving them leverage to justify higher rental rates. On the flipside I cant find any information about Mildura’s vacancy rates, I have spoken to a few real estate agents in the area and they assure me of being under 2% – 3%. I don’t believe entirely what they say until I see the facts and figures.

    My budget is under the $230k mark, but I would prefer to stay under $200k. With that Mildura seems to be more attractive but because I’m from Melbourne I would feel a lot more comfortable having a property in Bendigo being an hour and a half away so basic repairs and updates can be done by myself on the turnover of tenants.

    If anyone does own property in these areas a bit of knowledge would be greatly appreciated also!

    I did have a few more questions but I’ve totally gone blank! When it comes to me i’ll add to the post.

    Brendon

    Avatar of R3R3
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    @R3
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    here mate this website will be your best friend along with somersoft forums

    http://www.sqmresearch.com.au/graph_vacancy.php?postcode=ballarat&t=1

    im looking at ballarat myself

    Avatar of v8ghiav8ghia
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    Post count: 871

    Hey brendogs,

    Bendigo sounds like a much better option. Must admit in your price range, you won't get a heck of a lot, but rentals are very tight, and yields quite good. I would suggest avoiding Long Gully area, and be careful around pockets of Eaglehawk, Kangaroo Flat, and some parts of Nth Bendigo & California Gully. SOme of the new H & L packages are great value, if you look long term, and allow for depreciation, and buying near the hospital or Latrobe Uni is not a bad idea. All the best regardless!

    Cheers

    Avatar of brendogsbrendogs
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    Thanks for the response v8ghia

    Why do you say to avoid those particular areas?

    Avatar of weathjessweathjess
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    Post count: 13

    Hi,
    I have invested in Horsham and I am really happy with it. It is a growing town with diverse industry around it – both mining and farming. I must admit the drive out there is a pain (4hrs each way). But $200k will go a fair way out there.

    Avatar of v8ghiav8ghia
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    Post count: 871
    brendogs wrote:
    Thanks for the response v8ghia Why do you say to avoid those particular areas?

    Every where has them – but these are the areas you would either not buy in, exercise caution when buying in, or do a lot more due diligence. Not to say that there are not some really nice people & places living out that way.
    That said, you need to pick your place & or street. FOr example Eaglehawk has some really good areas, and some magnificent period property – but also some ferals. In some suburbs, prices appear cheaper, but while yields may be ok, values will increase much slower, and places will be on the market longer.

    As for the other comment on Horsham, I find that interesting. I have a place there, and recently asked the RE to give me a 'market appraisal' based on their frequent offers to do so, and in three and a half years, the growth would equate to less than 7% gross – meaning if I sold now, I would lose a few grand over what I paid for the place once costs and fees etc were taken out.

    All the best with what you decide. Unless you are in some position  (as well as gifted & lucky) where buying at bargain basement prices and renovating and doing a quick sell is doable,  make sure you look medium to long term.

    Cheers.

    Avatar of brendogsbrendogs
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    Tell me some details about your property in Horsham I have also been looking over there, I found that the yields are promising and the growth seems steady. How do you find the rental market there? Vacancy rates, yields, good/bad areas etc… Did you buy a bargain or just a standard ready to go type house?

    Cheers

    Avatar of EngeloRumoraEngeloRumora
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    Post count: 569

    Have 2 properties in Mildura, look for something on the west side of deakin highway. rental market is tight. rented my 1st house in 1 week had 4 applicants to choose from. just renovating 2nd shouldnt take long to rent out.

    EngeloRumora | Ohio Cashflow
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    "Make a PASSION an OBSESSION and you'll never work a day in your life"

    Avatar of brendogsbrendogs
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    Engelo10,

    Thanks for the reply, how long have you had the properties for? Also have you experienced any growth in the past few years?

    I recently went up there for a trip and driving through the so called less desirable areas, they seem very clean and much more affordable prices. I am definitely considering a purchase in those areas but I am definately worried about growth in the area.

    What are your thoughts?

    -Brendon

    Avatar of proptymanproptyman
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    Hi there Brendon,

    glad to hear you are thinking of investing in Bendigo or Mildura…
    I am very familiar with Bendigo.  Our vacancy rates are very low so if you have a property to rent out…. if it is good quality, good position etc… it is normally quite easy to rent out.  The prices in Bendigo are gradually going up… probably due to us considered closer to Melb. since the calder highway improvements…. It's 110 k/h for a good portion of the journey from Bendigo to Melb….. – makes the trip quite fast. – Vline train to Melb. is good too…  I know of some people who actually live in Bendigo and commute to melb. each day….

    For around $230 (you may have to go higher or consider an older place) you wont get too much but do look in places  that are near the uni. shoppings centres etc…., public transport…

    hope this helps,

    Peter.

    Avatar of EngeloRumoraEngeloRumora
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    Hi brendogs,

    Sorry for the late reply but I have only just seen your post. My 2 houses in Mildura have been tenanted for a couple of months now. The tenants are great and all is going well. The rental market is still very tight. Mildura hasnt had much capital growth over the years. There are definetly some positive things happening there at present with the recently expanded Bunnings and Big W. There are new retail chains opening also. Have you purchased any properties in the area since your last comment? Again apologies for my late reply.

    Regards,
    Engelo

    EngeloRumora | Ohio Cashflow
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    "Make a PASSION an OBSESSION and you'll never work a day in your life"

    Avatar of crustycrusty
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      The  plans to expand the airport are a good sign for Mildura, the surrounding areas such as Merbein and Irymple have had excellent growth in the last year, like 24%.    230k in Bendigo may only buy you an old  high maintanaince house with  miimal depreciaton plus you will have to pay stamp duty.  Depending on your taxable,   income but for less than230k if you go direct to a  builder or developer, and cut out stamp duty and agents commission and get the building write off allowance ( which is on going every year) and  a depreciation schedule, which mean 4000k tax back from the tax man  every year , which you  probably wont get on a 230k house in Bendigo.   Also with a new house you can be a bit more choosey with tenannts .   I have never had  a vacancy in Mildura always had tennants wating to move in. Touch wood as I have a vacancy coming up in 2 weeks.       You should take on englo comments about West side, it may be true to a small extent but personally  I thnk it is just hype by the snobs wholive there trying to keep up their values.  The areas that seem to be booming at the momment is the southern end near Irymple  where most of the retailers are locating.   The northern area near the river is hyped up and suppsed to be best once again I think it may be mostly hype.      Just something to think about   Bendigo  may well be a very good investment I am just concerned that it maybe at the top of its cycle has it has haf some good growth overlast couple of years.     It is possible get an older house and get gross yeilds up to  10% in mildura, that may give some small net + cashflow if income is critical that may help with the purchase of a house in Bendigo. Or with a new house that is neutral after tax you still maybe able to buy in bendigo.

    Avatar of EngeloRumoraEngeloRumora
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    Post count: 569

    Hi Crusty,

    How many do you have in Mildura? There is a bright future for Mildura. I have many contacts there and everyone reckons the market will pick up significantly in the next few years. There are many new listings and many sales but prices arent moving upwards yet.

    Thanks for your time.

    EngeloRumora | Ohio Cashflow
    http://www.engelorumora.com/
    Email Me | Phone Me

    "Make a PASSION an OBSESSION and you'll never work a day in your life"

    Avatar of FreckleFreckle
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    Post count: 1,680

    I’m assuming all you guys have read this

    http://www.mildura.vic.gov.au/Files/Expert_Witness_Statement_-_Mr_Justin_Malkiewicz_Macroplan_Aust.pdf

    It’s a comprehensive overview of the last decade to 2011.

    Worth noting is Mildura’s vulnerability to high unemployment in times of economic and climate stress. Mildura’s dependency on its agricultural economy is also worth consideration. Much of it’s second tier businesses rely on a sound farming sector to survive.

    Globally food demand is rising but access to sufficient water rights is hampering Mildura’s ability to thrive especially in drought/low rainfall years. Drought, the GFC and proposed toxic waste dump brought pop growth to a screeching halt around 2007.

    Current threats are a high dollar affecting primary producer exports which isn’t likely to ease any time soon and the current global financial situation. There’s a growing consensus that Australia’s 2 speed economy is set to deteriorate over the next year. By how much and when a recovery might occur are up for debate. The current global outlook isn’t good and that doesn’t bode well for any rural economy that is predominantly export orientated.

    More bad news I’m afraid…

    source: http://www.htw.com.au/Downloads/Files/223-Month-In-Review-June-2011.pdf

    Regional Vic
    MILDuRA
    The establishment of a sand mining industry in the
    Mildura region during the past five years has been a
    handy fill-up for the local economy, with the traditional
    winegrape and dried vine fruit industries languishing for
    much of the last 10 years.
    Despite the benefits of the sand mining activity, anecdotal
    evidence suggests retail spending is subdued. There are
    a higher than normal number of vacant shops in Mildura’s
    main shopping mall and generally low confidence levels
    among retailers. Builders are reporting low enquiry levels
    for new homes, and this inevitably flows through to retail
    businesses that supply furniture and associated items.
    Concerns about higher fuel and electricity prices,
    combined with an expectation that interest rates could
    rise is also felt to be contributing to consumers being
    cautious with regards to discretionary spending.
    ….there are a higher than normal number
    of vacant shops in Mildura’s main shopping
    mall and generally low confidence levels
    among retailers….
    Retail food and alcohol expenditure appears to hold its
    own, irrespective of weak economic conditions, and
    there is likelihood that an additional supermarket will
    be constructed in Mildura in the next year or so. sites
    and permits have also been secured to construct a Big
    W and an oxygen hardware store in the Fifteenth street
    precinct. The eventual construction of these large retail
    premises will presumably be to the detriment of some of
    the smaller, existing retail businesses.

    To top it off unit prices haven’t moved up in 5 years (which is going backwards) and house prices have only increased 10% in 5 years. (or a compound rate of 1,92%)

    http://www.rs.realestate.com.au/cgi-bin/rsearch?a=sp&s=vic&u=mildura

    It took me about 5 min’s of searching to dig this info up. My conclusion is that Mildura is high risk in terms of investment. With sub par equity growth (negative in real terms because it doesn’t even keep pace with inflation) and seasonal and fluctuating nature of employment opportunities indicates the rental market could be competitive. Currently 82 properties for rent.

    Being a small rural town it is vulnerable to changes in domestic, state and national economic factors. Global considerations magnify those factors. Couple that with green house weather events, carbon tax, a high dollar and a narrow (and declining) agricultural base (citrus and wine grapes). Mildura is also a fruit fly exclusion zone. If this pest ever penetrates the region then it’s agricultural base would virtually collapse overnight.

    All in all I actually don’t see any positives of sufficient note that make an investment worth the risk.

    The Freckle

    Avatar of crustycrusty
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        I dont know hoe you construe a report  saying Irymple can onlly support one new supper market instead of 2 because there are a whloe bunch of new shops and  woolworth shopping complex being built  2 k down the road in  Mildura as bad?? I would consider it good news if  even one was considered  viable.  You havent got a clue freckle,  there are people who dont want to or dont know how to work, one of the problems holding back the region  is a lack of competent and williing workers.  IF you had a look around you would notice lots of people in mildura from oveerseas many sponsored  by their employers  because they cant get locals to work or they havent botherd to get the necessary training or skills.  I know lots of people who have just went and knocked on doors and got a job.   Mildura has a  very diverse range of industries  more so than most other places some which can easily be swapped.    The report  you  linked  mentioned nothing about the record  grain  production  for the last 2 years or that the area was one of the only area to consistently produce grain  over the 10 year drought.. IF it wasnt for that region being a reliable producer of grain Australia would have been relying on imports to feed itself.   It also mentioned nothing about grazing, meat production  or  almonds or wool or etc.  The revolution in farming over the last 10 years  with no till farming  has meant increased (X3) production  and more reliabiity cropping every year instead of every 3 and higher yeilds as well new varities  such as hindmarsh barley that yeild 30% more not to mention more marginal country can be farmed too.   What about the new varities of canola that can be grown and high prices paid  for it.  YOU clearly  have no idea what you are talking about  there have been fruit fly outbreaks  over the last couple of years  the industry didnt collapse, the fuit in the designated zone  just had to be inspected before it was sent away, and I would expect some countries would only accept fruit grown outside the zone but still from the region. IT aint a small town it is a major regional city sounds like you are  a know all about a place you have never been.   There is a lot more than just horticulture   Also noticed the ecomomist never mentioned the solar power stations they have started constructing  or new airport, riverfront development. You cant be serious when you say declining and narrow agricultural base??  Where is  the bad news in the report and why post an old outdated report  when there have been 7 more up to date ones released since  maybe the one that said Irymple house price went up 40% does fit you bias. Most of the factors you mention affect every town so why single out Mildura.   You should just tell half the story  the period when the shops became vacant was when parts of the mall were closed for a lengthy period due to  it being rebuilt  some of the buisness were doing so well they moved  out to much larger  pemises  some to 15 th st which is booming so much it is becoming the main retail area . If buisiness is so bad why would  Mc Donalds open  a third  shop. Any way keep looking through your  foggy rearveiw mirror, I will be looking through a clear windscreen

    Avatar of crustycrusty
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    engelo10 wrote:
    Hi Crusty,

    How many do you have in Mildura? There is a bright future for Mildura. I have many contacts there and everyone reckons the market will pick up significantly in the next few years. There are many new listings and many sales but prices arent moving upwards yet.

    Thanks for your time.

       Hi Englo    I have 3  built 2 , 3br2b town houses and  bought a 4 br 2b brick house.  Had  2 others sold one before settlement for 10k profit in 2003 and bought one in 1997 cash flow + and sold in 2004 for 50% gain  I think it is good if yuo buy after yhe market is flat as we know the market doesnt go  up constantly steadily, it jumps over a short period , which mean it could jump in a few years to revert to mean growth.

    Avatar of crustycrusty
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    freckle the link you posted said mildura had a population of 50,000 than you say there are  82 rental vacancies , well you do the sums.

    Avatar of crustycrusty
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    freckle,   another thing you and that economist who sits up there in his distant Ivory tower  and work out average incomes is that there is so much work there a lot of people can demand to be paid in cash. No cash no workers.  There  are people on social security benefits working for cash, counted as unemployed , thats is what makes a great  place to own rental property, they also get rent assistance, if they atr short of money to pay the rent they can just go and get a day or a couple of weeks work pickingfruit or something.  Of course the unemployed will move there, cheap housing.    Also the average incopme figures  are nonsense too as some people work 2 jobs  sometimes one is under a false name the tax man only knows about one . Than the idiot buearocrats wonder why there is so much unclaimed supper annuation.      I know lots of examples where newly arrived migrants who  arrived own nothing but a debt for there travelling expense  after 2 years own a house and a new car, a couple may have 5 jobs between them and they may work 18 hours a day.        You know what they say  about lies and statistics.  Also  some of the worker have small fruit blocks and offset there taxable income further skewing statistics.

    Avatar of FreckleFreckle
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    Post count: 1,680
    crusty wrote:
    freckle,   another thing you and that economist who sits up there in his distant Ivory tower  and work out average incomes is that there is so much work there a lot of people can demand to be paid in cash. No cash no workers.  There  are people on social security benefits working for cash, counted as unemployed , thats is what makes a great  place to own rental property, they also get rent assistance, if they atr short of money to pay the rent they can just go and get a day or a couple of weeks work pickingfruit or something.  Of course the unemployed will move there, cheap housing.    Also the average incopme figures  are nonsense too as some people work 2 jobs  sometimes one is under a false name the tax man only knows about one . Than the idiot buearocrats wonder why there is so much unclaimed supper annuation.      I know lots of examples where newly arrived migrants who  arrived own nothing but a debt for there travelling expense  after 2 years own a house and a new car, a couple may have 5 jobs between them and they may work 18 hours a day.        You know what they say  about lies and statistics.  Also  some of the worker have small fruit blocks and offset there taxable income further skewing statistics.

    What a lot of twaddle!!

    Mildura demographic breakdown below;

    Mildura (3500) is a suburb of Northern Victoria, North Western, Victoria. It is about 476 kms from VIC’s capital city of Melbourne. The population of Mildura is 28,744 and is comprised of 47.7% males and 52.3% females.
    The median/average age of the Mildura population is 36 years of age, 1 year below the Australian average.
    The country of birth of people living in Mildura is 82.4% Australia, 1.6% Italy, 1.5% England, 1.5% Turkey, 1.1% New Zealand, 0.5% Greece.
    85.7% of people speak English as their first language, 2.3% speak Italian, 2.2% speak Turkish, 1% speak Greek, 0.8% speak Tongan, 0.4% speak Samoan.
    The religious make up of Mildura is 25.4% Catholic, 20.9% No Religion, 16.4% Anglican, 8.8% Uniting Church, 2.9% Presbyterian and Reformed.
    47.4% of people are married, 32.5% have never married and 12.5% are separated or divorced. There are 1691 widowed people living in Mildura.
    59.5% of the people living in Mildura are employed full time, while 27.8% are employed on a part time basis. Mildura has an above average unemployment rate of 6.7% and 8408 people are not part of the labour force.
    The average individual income is $395.00 per week and the average household income is $761.00 per week.
    The average rent in Mildura is $155 per week and the average mortgage repayment is $1083 per month. 30.1% are fully owned, and 29.9% are in the process of being purchased by home loan mortgage. 33.3% of homes are rented.

    Now I don’t expect those stats to be 100% accurate but it does give you a fairly accurate profile of Mildura’s makeup.

    With regard to under the table cash workers, the black economy, the shadow economy etc they’re active in every town and city within Aus. Bureaucrats know and understand all this as does your ivory tower economist. The amount of ppl your talking about represents a tiny fraction of the population and is almost (but not totally) insignificant.

    But to give you the benefit of the doubt even if the so called black economy was as significant as you say then it may represent only 1 or 2 property sales per year in a town the size of Mildura. In terms of rentals I doubt they’d be your target market. It’s not the market segement that lends itself to generating equity gains.

    The Freckle

    Avatar of FreckleFreckle
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    Post count: 1,680

    (Bold type = Quotes from Crusty above)

    I dont know hoe you construe a report saying Irymple can onlly support one new supper market instead of 2 because there are a whloe bunch of new shops and woolworth shopping complex being built 2 k down the road in Mildura as bad??

    I’m not saying it’s bad. Herron Todd White, the writers of the report infer it is;

    There are a higher than normal number of vacant shops in Mildura’s
    main shopping mall and generally low confidence levels
    among retailers

    The eventual construction of these large retail
    premises will presumably be to the detriment of some of
    the smaller, existing retail businesses.

    Large chain store type operations rarely provide any real benefit in small towns and do have some negative impacts. For example one large store usually means the closure of several small local stores. Over all unemployment options are reduced as large stores rationalise employment. Large stores remove large amounts of money from local economies in payments to outside suppliers and investors. Locals tend to spend most of their income locally.

    one of the problems holding back the region is a lack of competent and williing workers

    Your word not mine but I agree.

    lots of people in mildura from oveerseas many sponsored by their employers because they cant get locals to work or they havent botherd to get the necessary training or skills

    The demographics don’t support your assumption of lots of foreign workers. The exception might be seasonal pickers under various govt programs who actually spend very little in town. Foreign workers are a two edged sword. On one hand they enable businesses to continue to survive and subsequently contribute to the local economy. On the other hand foreign workers send the vast majority of their small incomes out of the country and actually take from the locally economy. Their contribution to the property market is almost nil. They don’t buy property as a rule and they rent the cheapest snake pits around.

    The report you linked mentioned nothing about the record grain production for the last 2 years or that the area was one of the only area to consistently produce grain over the 10 year drought.

    Climate change policy is seeing the regions water rights diminish year by year. The region faces incredible challenges over the next decade or so as they struggle to adapt. Farming generally produces more down years than good and even good years may not be as economically successful as one might think. Bumper crops can actually reduce prices and quality has a significant impact on payouts. All agriculture sectors across Australia are facing unprecedented challenges as global currency wars force the $A ever higher and significant climatic events have increased 10 fold in the last decade. Agricultural insurances are a significant and rising cost to farmers.

    The problem with agricultural and how it impacts Mildura are many here’s a few;

    Ag employment is becoming more specialised and mechanised to reduce costs and resolve labour shortages

    low skilled farm labour (pickers) are the lowest paid jobs.

    trend towards farm amalgamation and corporate ownership

    conversion to lifestyle blocks as farmers opt out.

    http://adl.brs.gov.au/data/warehouse/pe_abarebrs99001275/pc13466.pdf

    Many farms in the Mildura–Wentworth region are small, with around 61 per cent of farms having a total value of
    agricultural output of less than $150 000 (?gure C) in 2000-01. In total, farms with a value of agricultural output
    of less than $150 000 produced less than 20 per cent of Mildura–Wentworth’s value of agricultural output.
    In contrast, the largest 2 per cent of farms produced 21 per cent of Mildura–Wentworth’s value of agricultural
    output. Many small farms and, particularly the estimated 26 per cent of farms with a total value of agricultural
    output of less than $50 000, would be mainly reliant on off-farm income to support their operators.

    IF it wasnt for that region being a reliable producer of grain Australia would have been relying on imports to feed itself
    I have no idea where you get this idea from. Mildura is the smallest of the grain belt regions.See below.

    Mildura–Wentworth is one of Australia’s largest and most diverse agricultural regions with both irrigation
    based horticultural industries and dryland broadacre industries. The region produces around 21 per cent
    of Australia’s wine grapes and citrus, together with 10 per cent of barley, 7 per cent of wheat, 5 per cent of
    vegetables and almost all of Australia’s dried vine fruit production, plus a wide variety of other agricultural
    products

    While its farm diversity has some economical buffering affects its 2 primary sectors, grapes (38%) and grain (24%) remain vulnerable to global macro economic factors. Grape production faces some serious challenges due a production glut and falling prices. What does help Mildura though is that it processes most of the grape industries production.

    The revolution in farming over the last 10 years with no till farming has meant increased (X3) production and more reliabiity cropping every year instead of every 3 and higher yeilds as well new varities such as hindmarsh barley that yeild 30% more not to mention more marginal country can be farmed too. What about the new varities of canola that can be grown and high prices paid for it

    Please post sources to substantiate this because I’ve seen nothing that could support these claims. All things considered these claimed improvements would mean only tiny adjustments to the Mildura macro economy. Improved farm efficiency is always occurring yet farm debt is rising faster than farm gross receipts. On Mildura farms 03/04 debt to income was approx 68%. By 05/06 it was 87%.

    Nationally the debt to gross T/O is increasing (see slide 17)

    http://maps.neilclark.com.au/web/news/Megatrends%20and%20Agriculture%20March%202011.pdf

    there have been fruit fly outbreaks over the last couple of years the industry didnt collapse,

    I stand corrected.

    why post an old outdated report

    Irymple Town Centre | Economic
    Justin Malkiewicz | Statement of evidence
    28 November 2011

    Herron Todd White report – 2011 June

    Realestate.com.au
    Mildura Property Data & Trends
    Data current to 2011

    there have been 7 more up to date ones released since maybe the one that said Irymple house price went up 40% does fit you bias

    In 2002 Irymple saw a 42% jump (units) and 2008 a 29.7% jump (units) according to Realestate.com.au. Does this not make you suspicious?

    The corresponding data for houses was 2002 6.3% and 2008 -10.8% I smell a rat somewhere. I suspect the sample size is too small to give accurate figures. Mildura figures are likely to give a more accurate profile of the region.

    Any way keep looking through your foggy rearveiw mirror, I will be looking through a clear windscreen

    Don’t tell me tell this guy. I think he’s on your side anyway. Maybe a Casino or two will help…

    A Mildura property valuer believes that economically Mildura desperately needs Victoria’s second Casino Licence
    TUESDAY, 23 NOVEMBER 2010
    The valuer Chris Cleary says many district homeowners have lost between 10% and 15% of the value of their properties and presumably a greater percentage of their equity, since the peak of the market around mid 2007. He said this has been disastrous for the region and even at the conservative rate of a 10% loss, this equates to around a $500million loss in householders equity.
    “Whilst the drought is now over and we have water back in the river there has been no noticeable improvement in house prices our property market is stagnating,” Mr Cleary said.
    “There is a proven direct correlation between population growth and property value growth. Whilst Cairns and Townsville have the advantage of being Coastal locations with larger populations, which you would expect to see strong capital growth, the smaller inland locations of Launceston and Alice Springs have seen a more than doubling of property values in the previous 7 years of (107% and 169% respectively) as against Mildura’s 32%.
    Launceston during the 1980’s was considered a region with limited growth prospects.
    The Launceston Country Club was one of the first major investments into the region in the 1980’s and since then there has been extensive other investment that has now seen the region as a premium tourist destination with solid population growth.
    Mr Cleary says there is a perception that provincial cities with Casino/Entertainment/hotel complexes are progressive regions with an increasing tourist and economic outlook.
    “The establishment of such a complex here is likely to lead to other beneficial development,” he says.
    “A huge injection in investment in Mildura will see new jobs created, a more progressive outlook, population increase and a resultant increase in homeowners equity and we have to encourage this investment.”
    Mr Cleary said that as a region we need to encourage development to see our region grow and prosper rather than listen to the negativity of the fear mongerers who are active in opposing the Jewel entertainment complex.

    The Freckle

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