I am looking in the areas of Victoria – Tralalgon / warragul in Victoria/Gippsland – to buy as investment properties – does anyone know these areas and what are your views on these areas.
Regards John SmithI think it depends on what you are try and what you need to achieve. My personal view is that these areas are over priced. They may have gone up over the last few years but today the rental returns are not that great and it is unlikely that there will be much in the way of capital growth.
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Good views of coal and gas powered power stations. Traralgon has a paper mill that occasionally creates a noticable odor in the air. Excellent Hospital in Traralgon, Shopping centres in Traralgon and Morwell. Employment may be a problem as State Gov privatised SEC that used to provide a lot of employment and doesn’t provide as much now. Not sure on warrigal except that it is not near the coal powered plants .
In this present market, most areas of australia I think are overpriced.
Traralgon and warrigal are both showing good increases in population and rental demand and as such I think represent good value and good prospects for the future.
Go down there, look around andform your own opinion.
Pay no attention to negative comments by those with an attached sales pitch.Firstly mate it’s Warragul . Get the spelling right .
Originally posted by Pursefattener:Firstly mate it’s Warragul . Get the spelling right .
Thanks Pursefattener we are so glad you contributed![hmmm]
I’m looking myself a little further up. I think there is some good value in Albury/Woddonga I’m looking here as its on the NSW border, it has a large population and I feel a large retirement community and first home buyer community. I also like Mansfield and surrounding areas, this is near Mt Buller and again it represents a mountain change instead of the sea change. Lake Entrance is also good anything with water views (something Victoria does not have a lot of) sells/rents well. But like has been previously mentioned its all about the deal. Good oportunites for small developments
Goodluck [baaa]
Hi John
We looked around the Gippsland area but ended up buying in a place called Warburton in the Yarra Valley – its an incredibly beautiful tourist area and there have recently been two approvals for two big tourist resorts – word is that it will become another “Daylesford” in a couple of years, and also consider it’s less than 1 1/2 hrs from Melbourne, as well a short commute to the towns of Lilydale, Ringwood, Chirnside Park. The agents in the area actually have WAITING LISTS for rental properties so and you can pick and chose your tenants – and the property managers are pretty flexible on their fees. The only downside is that you do have to look pretty hard to find a good CF+ property, but there are some “renovator’s delights” with good potential to do up and make some money – oh and the rents seem to be going up!
I agree with housemender
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