Forums / Property Investing / Help Needed! / Buying In Horsham Good and Bad

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  • Profile photo of peterpithpeterpith
    Member
    @peterpith
    Join Date: 2010
    Post Count: 22

    Hey,

    I have now decided to purchase property in Horsham.

    I believe rent returns are good and housing prices are still affordable.

    but I would like to ask If there are any negatives about this area. Can any one help

    thanks
    peter.

    Profile photo of Jacqui MiddletonJacqui Middleton
    Participant
    @jacm
    Join Date: 2009
    Post Count: 2,539

    Horsham is a decent sized regional town.  It has a hospital and a TAFE.  So those are good things to have.

    One negative I can think of is this: Look very closely at the water situation.  How is Horsham supplied with water at the moment?  Is it entirely reliant on tank water and bottled water trucked in from Adelaide?  Pretty sure last I heard, it was.  The water situation in the Wimmera has gotten quite extreme.  Have you looked into what will happen as the situation worsens?  ie How will the area be provided with water, what will this cost, and how will the local population react.  Will they stay or move closer to the water reserves?  Will your property water rates go up astronomically?

    To illustrate my point, take a look at Green Lake on Google Maps.  For some reason, it is still pictured as a lake.  There is no water in it at all now!  People drive vehicles on the former water site.  Scary stuff.  For the country as a whole as well as the local district.

    I've heard that nearby Lake Toolondo has suffered quite a bit of water loss over the last few years.

    I have some antique pictures of the nearby mountain range ("Mount Arapiles") and the thing is surrounded by swamps.  It is as dry as a bone now.  Campers have to bring their own water along to do the dishes.  This is a change that has taken many many years to occur, but it assists in illustrating my concerns.

    What ever happened to the pipeline project, anyway? 

    That all sounds very doom and gloom.  Horsham is a big place.  It's hard to imagine it disintegrating.  You just want to be sure it is a growth area and not a decline area. 

    Jacqui Middleton | Middleton Buyers Advocates
    http://www.middletonbuyersadvocates.com.au
    Email Me | Phone Me

    VIC Buyers' Agents for investors, home buyers & SMSFs.

    Profile photo of Ryan McLeanRyan McLean
    Participant
    @ryan-mclean
    Join Date: 2010
    Post Count: 547

    I have also been looking at Horsham as a place to invest. The thing with the water situation you have to think about is that if we do in fact come out of drought, then the area will certainly grow. If it relies on agriculture is relies on water, and the more water the more profit. The more profit the more people and the more people the more you will see a profit.

    Every town has its risks, you just have to decide whether or not you are willing to take the risk. I invest in positive cashflow properties in different towns all over the country as to minimise my risk.

    Ryan McLean
    http://CashFlowInvestor.com.au
    Positive Cash Flow Properties Are Just A Click Away

    Ryan McLean | On Property
    http://onproperty.com.au
    Email Me

    Profile photo of Anthony.AounAnthony.Aoun
    Participant
    @anthony.aoun
    Join Date: 2010
    Post Count: 27

    From a numbers point of view:

    Last 8 years averages.

    Capital growth Houses: 8.47% – Units/Townhouses 7.09%

    Population movements: 0.72% increase

    Last year: 1.71% capital growth.

    AA

    Profile photo of peterpithpeterpith
    Member
    @peterpith
    Join Date: 2010
    Post Count: 22

    hey ryan,

    Do you have any tips on areas that are currently cheap to get into.

    i dont want to sound to forward but you sound like someone who knows whats going on.

    Cheers.

    Peter Pith.

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