Ballarat

y'know - i've been looking hard at regional hubs recently.

funny that a few others are as well. normally i'm the lone crazy one - so it's encouraging.

the biggest thing for regional hubs is check the local business. as long as local businesses have forward prospects/contracts/income then the town will survive.

best bet is to physically GO THERE and sit around the local pub on a Friday night and try and chat to a few folk - hell, even the bar folk are pretty forthcoming.
 
any takers?

I have tried to do a bit of searching on here to see other peoples opinion on Ballarat, however i usually get distracted and read other threads etc.
so short question is any other takers on this? I figure most of these hubs with any of the universities are bound to be okay??
Any neighbouring suburbs to Ballarat instead people could shine a light on?
 
I too am looking quite fondly at Ballarat at the moment. Haven't done heaps of research yet, but initially it seems quite good - plenty of period stock or modern townhouses close to the city/train station that would be either neutral or maybe a teensie bit positively geared. The vacancy rate is about 2%, so that's good too. And it's not that far from Melbourne.
I think the comment in another thread about Bendigo and its dwindling water supplies could also potentially apply to Ballarat too. Food for thought.
 
Ballarat was going to be my next visit after Bendigo - but i managed to make good contacts and get a good deal in Bendigo so maybe Ballarat will be next?

Fundamentals of these towns are good, and they arnt going anywhere soon! Just look at the inner-city parts if it is anything like Bendigo, closer to CBD the better of course :)
 
Although I prefer Ballarat on a personal level, I always find that Bendigo has a bit more bustle, a bit more business activity, etc. And I think the road to Melbourne is better, but I'm not sure about the train line. (Having never been on V-Line in my life)
 
Jonathon,
The road to Bendigo is now dual carriageway all the way and doesn't pass through any towns. The last bit was opened six months or so ago. Hauling a load last Friday we went from Tullamarine airport to Bendigo CBD in less than an hour and a half.

Tools
 

Did you read the comments at the bottom of the page? ..... I feel sorry for the first person that posted there views, they were hammered by the renters who replied.

I could rant on further as to the views of the tenant soapbox group's comments, but I really can't be bothered. I'll just go back and sit in the corner and continue to provide subsidised housing. After all I'm obviously one of those greedy mongral millionaire landlords they go on about. I really should have reduced the rent when interest rates went down, .. even though other holding costs went up ... hmmm, maybe next time .... :p

Martin
 
What are the areas (streets/suburbs) to look for in Ballarat?

Areas such as Mt Helen & Buninyong are close to the main campus of the University of Ballarat & the technology park, which features IBM & the SRO amongst several other larger employers. Mt Clear and Canadian are also within easy reach of this area as well as being only a 5 min drive to the CBD. Any central areas that are handy to the CBD, hospital precint, rail station or highway to Melbourne would also be good.

As for bad areas, it's hard to say as the bad areas usually are comparitively small areas within suburbs that also have plenty of decent areas. For example, an area known as Wendouree West is a commission house area (although many of homes are now privately owned), but real estate advertisements won't specify that a house is in this part of Wendouree.
 
Did you read the comments at the bottom of the page? ..... I feel sorry for the first person that posted there views, they were hammered by the renters who replied.

I could rant on further as to the views of the tenant soapbox group's comments, but I really can't be bothered. I'll just go back and sit in the corner and continue to provide subsidised housing. After all I'm obviously one of those greedy mongral millionaire landlords they go on about. I really should have reduced the rent when interest rates went down, .. even though other holding costs went up ... hmmm, maybe next time .... :p

Martin

Yes, I was tempted to reply as well, but decided it was pointless. Just sat & did Facepalm instead;)
facepalmbq8dj7.jpg
 
A few people are already starting to commute from Ballarat to Melb for work... a loooong train trip of 90 minutes but just FYI.

The number of commuters is quite high. Often the early trains are close to full of CBD professionals. The trip is actually more like 75 minutes, which is comparable to a lot of outer-rim suburbs. It makes a lot of sense if you only need to be in the office 2-3 days a week. Can get plenty of work/reading/sleeping done on the train as well. I know several people who do this.

Usually the equation is 2 bdr apartment in inner melb. (with 30 minute commute) is more expensive than a 4 bdr house in Ballarat.

Not sure that this helps investors those since most of those commuters will be buying, not renting long term.
 
What about Sebastopol then? I know it's a poorer area - and I know at least one person who grew up in Ballarat who says she'd buy there only when hell freezes over.
But I know someone else who bought a unit there last year. Paid about $165k and they're getting $180 a week for it - steady, low maintenance property (and tenant). Anecdotally, I know someone else who bought their first place in the area about 10 years ago for $58k and it's now worth $140k (those figures are pretty vague, but you get the idea). Thinking ...:cool:
 
Another article regarding Ballarat property:

http://www.thecourier.com.au/news/local/news/general/ballarat-tops-housing-affordability-list/1736664.aspx

As for Sebastopol, I probably wouldn't be looking to buy there either, but if the numbers stack up there's no reason not to I guess. I have known some great people that have lived in Sebastopol along with some not so. I don't really want to generalise as it is a fairly large suburb which is still growing with new estates still in progress, which have attracted a lot of first home buyers. It recently got its own McDonalds and Aldi stores and is still attracting new businesses since it forms part of a growth 'corridor' as they like to call it.
 
I'm looking into Ballarat at present and I'm going to call family over the weekend, who have lived there for decades to get their vibe on good/bad areas. I'll report back in due course
 
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