100k properties

hi,

just wondering if people could name some towns, or regional cities that are around the 100k mark, across Australia.

I am from Victoria and know a few there.

I am thinking of purchasing something for an investment.

I am trying to do as much research as possible, to compare different towns.

would be keen to know some
 
Peterborough, South Australia.

If you look in SA in the $80-90k range you'll see mine for sale, and I'll go lower than $80k because I need the damn thing sold. It would rent for about $100-120 a week. Positively geared yes, but you risk rather rough tenants.
 
Peterborough, South Australia.

If you look in SA in the $80-90k range you'll see mine for sale, and I'll go lower than $80k because I need the damn thing sold. It would rent for about $100-120 a week. Positively geared yes, but you risk rather rough tenants.

Funny. My hubby found a place and said "how cheap is this". I just looked at him and said Yep. I know the lady that owns it.
I'm pretty sure it's yours. Unless there is another one in your town for $90K listed.
 
Actually there's a few listed now - last time I checked they were all between $72k and $144k (the ones over $120k have been listed for YEARS). Mine is the $85k one, it was originally listed for $95k.

You just can't get a decent house for that price anywhere else in South Australia. If I picked that house up and moved it 40km to where I live now it would sell for $200-250k - if it was here, with 3 street frontages you could subdivide it 4 ways and make a fortune. And if it was here I would have spent more than $1000 putting in a full new kitchen ...

It is not in a good location, obviously ...
 
Peterborough, South Australia.

If you look in SA in the $80-90k range you'll see mine for sale, and I'll go lower than $80k because I need the damn thing sold. It would rent for about $100-120 a week. Positively geared yes, but you risk rather rough tenants.

How rough tenants ??? they can damage the property or rent paying problem but these thing should be covered by LL Insurance but yes these sort of tenants can be a real pain. Any good capital growth ??????

KK
 
How rough tenants ??? they can damage the property or rent paying problem but these thing should be covered by LL Insurance but yes these sort of tenants can be a real pain. Any good capital growth ??????

KK

If its still under $100k after all these years then will have to ask what does it have going for it? I recall researching Horsham 5 years ago, doesn't look like prices have moved much. Buying the right IPs in Melb on the other hand would've easily doubled my money.
 
Not sure about capital growth ... when I moved there you could pick and choose for $10-20k a pop, now there's nothing under $50k but conversely nothing over $100k. In the same time frame this town has gone from $50k to $200k+ average and the two towns are quite close together.

Someone needs to promote the town better - you can get to Adelaide from there in 2 hours and its right on the way to Broken Hill. Its picked up a lot of new people lately *because* it is so cheap (and because house prices are going nuts where I live now and a lot of people are cashing out and downgrading), and apparently the locals have embarked on a feral eviction campaign since I moved out and have got rid of a couple of dealers. I bought the house there because I just wanted a house under $25k, and for that price you either ended up in a tiny hut 500+km from anywhere or a biggish house in THAT town, which is considerably closer to civilisation. Its still the same really, just the figures are higher and you can get broadband there now. I never had any issues with the local riffraff besides with their dogs, but then I'm an antisocial hermit and not an addict so I didn't have any *cough* financial dealings with them.

With my luck the day after I sell it they'll start a second wind farm right next to the town (it is very windy and there is already a huge wind farm 20km down the road) or the diamond mine they've talked about forever will actually get the green light.

You could probably tell the same story about any other ex-something town. This one is an ex-railway town. Everyone ships out except the ferals, the freaks move in (that's me) and the place either reinvents itself or dies. There's a smaller town about 100km from this one that has reinvented itself to a fantastic degree, but it needed money and effort.
 
If its still under $100k after all these years then will have to ask what does it have going for it? I recall researching Horsham 5 years ago, doesn't look like prices have moved much. Buying the right IPs in Melb on the other hand would've easily doubled my money.

Agreed with asdf, I would be happy to buy 2 bed flat/unit in Melb
(within 20Km from CBD) rather than in country.
But everyone have their own strategy and should stuck with that.
 
HA888:
I'm still confused as to why people are not buying in Horsham for that price....

"They" are...HandyAndy888, as wonderful, as informative, as good as this forum is (Somersoft), it is a very small part of the universe, and of people's lives.

The Horshams, Bendigo, Ballarat, Wodonga, Shepparton, Swan Hill, Ararat, Mildura, Geelong, Gippsland area, Hamilton, Warrnambools etc...the regional/rural cities/towns are being invested in.

Regional Victoria (for those that choose) is an affordable, plentiful, bounty of $$$ to hunt in. It is not the beast of metro, nor is it as "special" as coastal, but it is good, solid investing, there is opportunity to buy well, there is opportunity for strong rental return, there is good, solid growth if you do research and diligence well.

There are investors that fly in from interstate, there are investors that buy over phone-(never see their IP's), there are mums and dads there with one or two, younger people there that are using these regionals as a starting point, very happy with their affordable buying, there are locals there that own good portions of the cities.:) Multi millionaires.

Some of them have never seen a computer, some of them don't even own a fax machine, some of them you would never pick as having two bob to rub together, and might be mowing lawns just for the exercise, the handyguy-just for fun,...all the time doing, (and creating), deals that would make you smile.

Regionals offer very good investing, provided you do your diligence, your research...true, they are not for everyone. No doubt if I lived within surburbia and metro I would be sniffing around my own backyard there for deals and opportunities..maybe not.

Buy well, building and buying well has served us well, rental returns and growth is ticking over, it keeps feeding the investing beast in us, giving us equity for more...so far so good. All regional cities so far.

Somersoft. Property Investing forum are....a minute, concentration of people that gather to learn, comment, or share information, it is a resource, but like all resources it has it's limitations, a limited number of people that contribute...and within that, people, investors are all different...from all walks of life, I would say there are many a deal going down that are not posted up here.
 
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Mining...is interesting developments:

http://www.news.com.au/story/0,27574,25940878-421,00.html

'Huge' gold deposits found in Victoria

AAP
August 17, 2009 01:50pm

HUGE gold deposits lie unexploited across Victoria with some ore-bearing rocks located just 100m below the surface, a state Government study reveals.
A three-year land survey shows about three million ounces of gold may be located in an area north of Melbourne, while millions more could be extracted with modern mining techniques north-west of the city.

Geologists have used new survey techniques to create a three-dimensional model of the land among with geochemical and geophysical data.

Energy and Resources Minister Peter Batchelor says the $9 million Government study indicates an estimated 70 million ounces of gold lie within reach across the state.

"The gold-bearing rocks there are within reach of modern drilling technology, with much of it under less than 100m of sediment," he said.

Gold hidden under sediment can be difficult to mine and costly to extract.

Mr Batchelor says the new study will help the mining industry examine the risks and focus efforts on regions more likely to yield returns.

The two survey areas identified as having a high potential for gold deposits are the Melbourne Zone - north and west from the city to Shepparton - and the Gold Undercover Zone, located near Swan Hill to around Horsham.

More from here DPI (Department of Primary Industries):

http://www.dpi.vic.gov.au/DPI/nrenmp.nsf/LinkView/354BD52FC2B43284CA2573FD000D47828B3DA072DA032386CA2573DF001C56C6/$file/Victoria-GoldFactSheet.pdf

link of pdf wont go live...buggared if I know...??

GOLD UNDERCOVER

http://www.dpi.vic.gov.au/DPI/nrenm...57213007D32B94D18257E2CDF6D054A2567C4001F3792

Gold Undercover - Unearth Victoria's Gold

Overview


Developing Gold Undercover is a AUD$9 million initiative over 3 years as part of the government's Provincial Victoria statement.
The Gold Undercover project will deliver the new geoscience insights and techniques required to discover the potentially large undiscovered gold resources presently concealed under cover.
This project will stimulate the research and exploration communities in Victoria and help re-establish regional Victoria as a leading gold producer.
Background
Existing research indicates that Victoria’s undiscovered gold endowment in covered areas could be as much as 80 million ounces, worth approximately AUD$70 billion at today’s prices.




Map showing Gold Undercover initiative area.


Exploration is the lifeblood of the resources industry. Studies show that new geoscience information acts as a major stimulus to increased exploration and discovery. This project will produce new information and ideas that will stimulate the exploration community leading to greater investment and reversing the current downturn in resource expenditure in Victoria.


Each of the state’s current gold operations is located in regional Victoria and represents millions of dollars of investment, and many hundreds of jobs. New discoveries leading to new operations will repeat this beneficial cycle in regional Victoria.


Supports Government objective of encouraging investment in Innovation and in Provincial Victoria
 
Not to forget the benefits of big areas of cleared ....sunny :) land for:

http://www.milduraweekly.com.au/ThreadView.aspx?tid=20955

Solar power station gets the green light
Posted by administrator from Mildura on 31/07/2009 at 09:29 AM in Community / Mildura

By BEN PISCIONERI

THIS week’s announcement that the Victorian Government has approved one of the three sites earmarked for the eagerly awaited Solar Systems solar power station has been unusually low key.

There were no major government announcements, no visits from prominent government ministers and there’s been little word coming out of Solar Systems, despite the magnitude of the $420million project.

The first that anyone, including Sunraysia’s key stake-holders, heard was through the Victorian Government’s routine gazetting process.

Despite several days of local media coverage, the government and Solar Systems remain tight-lipped.

All that has been officially confirmed is the Carwarp site has planning approval for the project from the Victorian Government.

Yesterday morning there still had been no official confirmation from Solar Systems it would go ahead on the Carwarp site.

This site was one of three in the Mallee selected by Solar Systems as possible locations for the plant.

Despite the absence of any public announcement from Solar Systems, the Mildura Council, the Mildura Development Corporation and Member for Mildura Peter Crisp have labelled the planning approval a major step forward.

“Regardless of which site, the benefits are going to be here within our region and that’s cause for great celebration in terms of employment, contractual opportunities and building up a skills base in terms of this new form of clean energy,” Mildura Development Corporation chief executive Anne Mansell said yesterday.

Mrs Mansell said while the project would be a major boost for the entire region, smaller areas such as Red Cliffs and Carwarp had much to gain.

“During the construction phase and the workers required over that period of time, obviously Red Cliffs is the closest major township and they’ll see major benefits, not only in terms of provisions and supplies, but also in terms of accommodation,” she said.

“There are some major opportunities for Red Cliffs and for Carwarp and those regions close to the site.

“There will also be an influx of people to the area, which will help build up our school communities and the other benefits that come with large scale projects of this type.”

The Mildura Development Corporation and itspredecessor, the Sunraysia Mallee Economic Development Board, has been the driving force behind attracting Solar Systems to the Mallee.

Member for Mildura Peter Crisp meanwhile welcomed the planning approval but was critical of the government’s delay in revealing its decision.

“Mildura would have benefitted from an earlier announcement from the minister to help our economy cope with difficult conditions brought on by drought and the economic downturn,” Mr Crisp said.

But he was full of praise for the work done locally to attract the project.

“The community should be extremely proud of the efforts it has put in to secure the power plant,” he said.

“Solar Systems’ decision to build the power plant in Mildura has cemented the region’s position as the solar capital of Victoria.

“I believe this development will give the region a compelling edge when bidding for other solar projects.”

If the project goes ahead on land approved by the Victorian Government at Carwarp, it will be situated on Carwarp West Road and feature a solar field taking up between 600 and 800 hectares.

The first stage of the $420million project is expected to be completed by the end of 2010. The entire project should be finished and in operation by the end of 2013 and produce enough electricity to meet the needs of more than 45,000 homes.

....and Wimmera in bid for one as well:

http://www.mailtimes.com.au/news/lo...ts-wimmera-solar-power-plant-bid/1558414.aspx

Council supports Wimmera solar power plant bid
AMELIA ELLISTON
3/07/2009 1:03:00 PM
WEST Wimmera Shire Council will support a bid to get a solar power plant in the region after a three-two vote got the motion over the line.
After a heated discussion at Thursday night's meeting between councillors Eveline van Breugel and Warren Wait, Cr van Breugel secured the support of councillors Ron Hawkins and Darren Rayner to pass the motion to put $5000 towards a submission for a solar plant.

Cr van Breugel is on the Wimmera Development Association's solar power plant sub-committee and said the project had so much potential for the shire there was no choice but to support it.

``As a shire we are always talking about bringing industry to the region and creating a future for our young people,'' Cr van Breugel said.

``We can't just talk about it; we need to be proactive in getting industry here. It isn't just going to land on our doorstep.''

But Cr Wait and Mayor Bruce Meyer voiced their objections to contributing council funds to the proposal.

``I think it's a long shot,'' Cr Wait said. ``If it does come to the Wimmera, what's to say it is even going to have any benefit to this shire?''

Cr van Breugel responded to Cr Wait's objections, claiming the shire had to put its hand up for the project.

``I don't think this is such a long shot,'' she said. ``The State Government has said it is going to build a plant, it is just a matter of where it builds it. And we meet all the criteria.''

Council did note in its motion the need to ensure the proposal did not lock in the location for the project, but rather all shires should have a genuine opportunity to be considered for the location of the facility.

Wimmera Development Association executive director Philip Sabien said four of the five municipalities in the Wimmera had pledged support for the project.

Buloke is the only shire council to have not yet made a decision, but Mr Sabien said it would do so at its next

meeting.

Mr Sabien said the money from each municipality would go towards the submission which he estimated to cost between $50,000 and $60,000.

It is due at the end of September.

NB Buloke Shire has got behind the bid as well.

Bit of fun up in the bush.
 
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