I have spent the last week scouring through SPI fast 50. Ultimately for me Mildura seems to be a great entry but I would like to be a bit more confident in its CG. anyone have properties there that they are happy/unhappy with? and what areas should I seek out/avoid??
Thanking you in advance
hello Misfitz,
I have a few properties in Mildura, i have been told West of Deakin Ave was better. I have had no problems with mine as they have had tenants all the time.
Mildura has appeared on sevral ' hot spot' lists in various magazines. I think Midura has hit the bottom and would expect it to increase at some stage.
I bought more for returns to off set my negative geared properties.
i know there are a few investors here also that might be able to add more to what i said.
CG will come with improvement to infrastructure and the capture of ongoing investment through business dedicated to working in the area.
Mildura is sorely lacking in both at the moment and at this stage this only leads to the possibility of riding a decade or two of stagnation.
You will be living that decade, so keep an eye on it for observation .. but make the judgement to purchase only when the above criteria are being met.
Thanks for the referral to the other post Freckle.
For my part about Mildura, pay very, very, very close attention to:
a) Job creation
b) Crop yield
c) Infrastructure projects
For my part, I would rather stick to Ballarat, Bendigo, Geelong, Albury etc. You have so much more potential investing in a hub closer to a major city.
Mildura is on the highway between Adelaide and Sydney, but there isn't a lot else around.
All the best,
– Steve
Steve McKnight | PropertyInvesting.com Pty Ltd | CEO
https://www.propertyinvesting.comSuccess comes from doing things differently
Agree with Steve, and of course the other posts that stress the concerns about the lack of infrastructure projects. You cannot expect the population to grow in an area (which in turn forces demand up which in turn forces prices up) if there is no compelling reason for people to move to the town.
Jacqui Middleton | Middleton Buyers Advocates
http://www.middletonbuyersadvocates.com.au
Email Me | Phone MeVIC Buyers' Agents for investors, home buyers & SMSFs.
Something that inexperienced investors should watch out for when doing any sort of DD is the topic of 'infrastructure projects'.
You need to distinguish between infrastructure that supports and enables increased economic activity and infrastructure projects that are temporary economic blips on a timeline.
Unless an infrastructure project enables increased economic activity it's weighting in terms of influencing any future CG opportunity has to be kept in context. In a town like Mildura an irrigation scheme might enhance economic activity and output. A highway upgrade would be temporary at best and add little or no economic benefit.
thanks everyone for their input, i agree that it is a good place for rental yields to balance out a portfolio and maybe something to look into in the future, but as i am only just starting out on my portfolio i might stick to somewhere that has some capital gains on the horizon.
CHEERS
All parts of Mildura are excellent for buying property. One of my friend have an apartment there which he bought last year and now he want to resale it. He told me that the value of property is very good now a day.
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