All Topics / Help Needed! / Investing in Ballarat

Viewing 12 posts - 1 through 12 (of 12 total)
  • Profile photo of Joy_FullJoy_Full
    Member
    @joy_full
    Join Date: 2012
    Post Count: 2

    Hi guys – my husband and i are thinking about getting an investment property.We are looking for a house less than $300,000,with potential for capital growth,and good rental return.

    At the moment we are considering Ballarat because it seems it has huge potential for capital growth with the population growth and developments going on..Just wondering what does everybody think about Ballarat?

    Any opinions or tips on this suburb will be greatly appreciated!

    Thanks

    Profile photo of Nigel KibelNigel Kibel
    Participant
    @nigel-kibel
    Join Date: 2005
    Post Count: 1,425

    What do you think is the potential for capital growth? Is there a lack of land NO Infact you have land all the way to Melton on the city side. Investing in property is about making your money work for you. If you buy property with limited capital return and its negative or just neutral cashflow what is the point of buying it.

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    Profile photo of Solomon10Solomon10
    Participant
    @solomon10
    Join Date: 2010
    Post Count: 135

     There are other areas than Ballarat that could give you a better return,but it has had some capital growth. My cousin has 3 houses there that have doubled in the last few years in a lower income area. Some nice areas close in to the cbd or close to the uni. Wendouree West and Sebastopol,Redan etc are the lower areas,Alfredton and Ballarat central could achieve you some gains. Good luck in your search,don't just consider one town though search far and wide without emotion for something that fits in with your plan.

    Profile photo of Joy_FullJoy_Full
    Member
    @joy_full
    Join Date: 2012
    Post Count: 2

    Hi Nigel,our thoughts was with that much going on in Ballarat there will be high chances that it will become a main city – even though there are heaps of land from Melton to Ballarat but if we manage to secure something near the CBD or university,the demand will always be there.Having said that we are new to property investments so we could be wrong – in your opinion, which is the best location to buy in regional Victoria area taking both rental yield and capital growth into account?

    Hi Solomon10 – just wondering if you could suggest any other locations where we could look at?We are also considering Melton at the moment..

    Thanks for your help

    Joy

    Profile photo of Solomon10Solomon10
    Participant
    @solomon10
    Join Date: 2010
    Post Count: 135

    Under 300k i would be looking at what you can afford in Geelong, Corio and Norlane are slowly coming up,if you re in it for the long term and careful about buying there are some good deals about. Those last two do have a bad name which is gradually changing for the better,surrounded by Lovely Banks,Hamlyn Heights etc and close to Melbourne down the freeway one would think that the price couldn't stay so low for much longer. At a stretch you may get something worthwhile in Bendigo for your money if you are in the right place at the right time and prepared to add some value yourselves.

    Profile photo of ananddanandd
    Participant
    @anandd
    Join Date: 2012
    Post Count: 58

    My suggestion is to stick to the "areas you know well" unless you are doing first hand research in one of the new developing areas. I remember people running to Point Cook years back due to cheap land (and because their friends bought it there) and now if you go to realestate and check the rental properties there appears a list of over 250 properties available at one of time and which sometimes even take 2 months to get rented. Just giving you something to think about.

    Profile photo of kris07kris07
    Participant
    @kris07
    Join Date: 2007
    Post Count: 101

    Interested to hear how you went with Ballarat ‘Joy_Full’?

    Noticed in the state budget which was quite a tight one that Ballarat was one of the winners – receiving $120M for investments in hospitals, roads etc.

    Interestingly in the same week council approved the re-zoning of land to allow for the UB Tech expansion ($155M) which will create around 1600 jobs: http://www.thecourier.com.au/news/local/news/general/ub-tech-park-expansion-could-create-up-to-1600-jobs-claim/2544362.aspx

    Looks like large scale developments are starting to take place in Ballarat incl the $5bn regional rail link. I’d put my money in Ballarat as a future prospect given its low entry price and growth. Geelong is over priced relatively speaking as a Regional.

    Profile photo of thecrestthecrest
    Participant
    @thecrest
    Join Date: 2004
    Post Count: 992

    Steve McKnight got started with investing in Ballarat and may still own a number of properties there and be monitoring their progress, so perhaps he can comment on the current investment climate in Ballarat ??
    Cheers
    thecrest

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    Profile photo of kris07kris07
    Participant
    @kris07
    Join Date: 2007
    Post Count: 101

    Shame Steve McKnight hasn’t responded to your comment ‘the crest’…

    Would be interesting to obtain Steve’s view on Ballarat

    Profile photo of eZyCASHeZyCASH
    Member
    @ezycash
    Join Date: 2012
    Post Count: 5

    I don't have any experience investing in Ballarat. But as with any investment in a smaller town you should undertake substantial DD on the area. Try and find out if there are any new schools or shopping centres being built in the area, jobs growth, net migration, average owners vs renters in the area, drivers of the local economy etc. this will help your work out the likelihood for capital appreciation.

    Profile photo of MillietMilliet
    Member
    @milliet
    Join Date: 2012
    Post Count: 6

    Hi,

    How did you go with the search in Ballarat?  I am also thinking about investing in Ballarat, it is there or Geelong.  I also thought that the student population would be helpful in terms or renting to them and getting a higher yeild.

    Cheers Sarah

    Profile photo of JpcashflowJpcashflow
    Participant
    @jpcashflow
    Join Date: 2007
    Post Count: 575

    Hi Joyfull,

    Are you in a rush in buying a property within the Melbourne Market?

    Here are some reasons why I am asking you this.

    1) The market in Melbourne is FLAT and prices will continue to fall or at least remain the same – Some areas in Melbourne are performing well but not at the price bracket you are looking at too.

    2) Ballart is a interesting area: Nigel mentions that there is plenty of land, and his not wrong, You have so much land in areas like Melton, Bacchus marsh, Hopeton Park and many other areas.

    3) Allot of homes on the market and there are quiet a bit for lease in the area and why? Unemployment is increasing in that region at quiet a quick pace, Manufacturing and agriculture have slowed down and there have been allot of lay offs in the area.

    4) Interest rates have come down again and I will believe rates will come down even further…

    My advice is be patient and just do allot of research!!!

    Jpcashflow | JP Financial Group
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