Ballarat

thanks player

hi player

thats a good insight

can you eloborate more on these INFILL sites

I am very new to this

If I understand this correctly ...

there are big sites close to cbd which will be opening for construction of new dwellings ??? - is that right

that would affect the rental yeild and CG - can you eloborate on this

thanks

sri
 
penti99 said:
hi player

thats a good insight

can you eloborate more on these INFILL sites

I noticed them a couple of Saturday's ago in the Ballarat Courier realestate section.

I am very new to this

If I understand this correctly ...

there are big sites close to cbd which will be opening for construction of new dwellings ??? - is that right

They are en globo (non subdivided) parcels, one from memory has buildings on it, however will be bulldozed I dare say. Once they are subdivided they will be sold as house (likely townhouse) and land packages possibly and maybe some mixed use, resi and commercial on main road frontage sites.

that would affect the rental yeild and CG - can you eloborate on this

Read my earlier post again. If you buy on the fringe or outskirts, I reckon you may come undone in the short to medium term. Adding new infill construction is good IMO. It should augur well for the remaining older stuff surrounding it. Personally I NEVER buy new fring residential houses for investing.

No idea on how it will affect yield. I envisage it will be absorbed in the demand side. It's not as if it's going to yield 10,000 new dwellings.

Sri, if you haven't already, go and spend some time in Ballarat. Searching on the internet is well and good for macro stuff, however if you hevn't done so, get a list of say 30 properties that tick you boxes and suit your pockets and inspect them from outside looing for amenity to transport, schools, shops, parks, etc, etc. Then narrow down your search to a few you can inspect inside. This is the micro research you can do at ground level.

Occasionally getting the Sat edition of the local paper will also give you different insights (Southern Cross Station newsagency gets it in Spencer Street in the city or if you're out west, I think you would get it in Melton.)

thanks

sri
Click to expand...

You (and only you) need to become an expert on the area you are targetting so you can ascertain value from overpriced assets.

Good luck :)
 
had an interesting conversation with a Ballarat RE on Saturday. We'd looked at a place he's selling (asking $245,000) on Friday, made an offer of $228,000 on Saturday.
Now, I know the offer was well short of the asking, but everyone has to start somewhere, right? I mean, it's all about negotiation, IMHO.
He basically said, nope they want $245,000 and you are now on our database, I'll be in touch if anything else comes up.
I asked if $230,000 would help at all and he blew that off too. I really felt like he wasn't interested in selling it to us ... at no point did he ask if we were prepared to go higher, or indeed to $245,000 (which we're not). Was all a bit weird.
 
Tuppence said:
had an interesting conversation with a Ballarat RE on Saturday. We'd looked at a place he's selling (asking $245,000) on Friday, made an offer of $228,000 on Saturday.
Now, I know the offer was well short of the asking, but everyone has to start somewhere, right? I mean, it's all about negotiation, IMHO.
He basically said, nope they want $245,000 and you are now on our database, I'll be in touch if anything else comes up.
I asked if $230,000 would help at all and he blew that off too. I really felt like he wasn't interested in selling it to us ... at no point did he ask if we were prepared to go higher, or indeed to $245,000 (which we're not). Was all a bit weird.
Click to expand...

ballarat is a rising market and i have bought 4 in 24 months, bargained hard but basically only got 5-7k of the asking price in all of them.

the 1 bedders if priced right sell instantly.
 
Alfredton VIC

Hi everyone,

I wonder if anyone can shed some light on Alfredton, a town close to Ballarat? It will be appreciated if someone can comment on what Alfredton is like to live in, industries, employment, infrastructure if any around the area, etc?

Ballarat has experienced consistent capital growth, so it will be interesting to check out surrounding areas and see if there are any possibility experiencing the ripple effect on capital growth from close by Ballarat.

Catherine
 
catlib01 said:
Hi everyone,

I wonder if anyone can shed some light on Alfredton, a town close to Ballarat? It will be appreciated if someone can comment on what Alfredton is like to live in, industries, employment, infrastructure if any around the area, etc?

Ballarat has experienced consistent capital growth, so it will be interesting to check out surrounding areas and see if there are any possibility experiencing the ripple effect on capital growth from close by Ballarat.

Catherine
Click to expand...

Hi Catherine,

I have 2 units in alfredton, both rented by private school teachers. its a nice area with both old (near victory park), and new estates that are quite high in price when compared to the older parts of alfredton.

my units are 1 bedders I paid 112,000 each for them and they return 130 p/week rent.

cheers
 
pwinne said:
ballarat is a rising market and i have bought 4 in 24 months, bargained hard but basically only got 5-7k of the asking price in all of them.

the 1 bedders if priced right sell instantly.
Click to expand...

Hi there, I've just seen your reply :). Funnily enough, we bought that place. We ended up paying $239,000, which is about right for what you say for getting off the asking price. We couldn't get anyone to move much either.
It's rented for $250 a week now and (touch wood) all has been good so far.
 
catlib01 said:
Thanks Barbara and pwinne,

Can you tell me pwinne, when did you buy your 1 bedroom units in Alfredton?

Cheers,

Catherine:)
Click to expand...

Hi Catherine,

I bought the 1 bedders in Feb 10. There are some in Longley St for sale now around the 130k mark IMHO lower quality 1 bedders but worth a look as Ballarat would appear to be a rising market..

I'm settling a new place that was off the plan in June 10, paid 240k 3 bed, 2 bathroom etc its rented for 300 p/week. that is in north ballarat.

Looking again now, sebastapol seems HOT at the moment still a lot of 200k properties that are quite reasonable homes.

Cheers
 
pwinne said:
Hi Catherine,

I bought the 1 bedders in Feb 10. There are some in Longley St for sale now around the 130k mark IMHO lower quality 1 bedders but worth a look as Ballarat would appear to be a rising market..

I'm settling a new place that was off the plan in June 10, paid 240k 3 bed, 2 bathroom etc its rented for 300 p/week. that is in north ballarat.

Looking again now, sebastapol seems HOT at the moment still a lot of 200k properties that are quite reasonable homes.

Cheers
Click to expand...

http://www.realestate.com.au/buy/in-longley+st,+alfredton/list-1

sorry those longleys are listed 135-140. I'd offer under 130 :)
 
Tuppence said:
Hi there, I've just seen your reply :). Funnily enough, we bought that place. We ended up paying $239,000, which is about right for what you say for getting off the asking price. We couldn't get anyone to move much either.
It's rented for $250 a week now and (touch wood) all has been good so far.
Click to expand...

Hi Tuppence,

Yeah the REs are pretty cool and collected in Ballarat. I find them respectful and not pushy which is a nice change, and admittedly the attitude of the town is a bit like that also.
I work in Ballarat quite a lot and spend the downtime looking at property :)

Its hard to get the price down esp. on the sub 250k market it would seem. I guess given the rental return houses are closer to the real price when placed on the market.

who are you renting through I use Jamie Stephens (formally Jamies Stephens property management), @ballarat property group and find them quite good.

Cheers
 
Hey, pwinne. Our PM is Hocking Stuart - they came recommended both through this forum and personally (our Melbourne IP is with them too, so they also did a bit of a deal on fees - nothing huge, but a bit of icing on the cake).
Turns out our tenant is going to break her lease - three months in, sigh - because she's bought a house. Honestly, who goes house-hunting when they've just signed a new lease? Anyhoo ... she's given a couple of months notice. The HS crowd were right on it and the place is already readvertised and we're hopeful of replacing the tenant without too much trouble.
Still happy with the buy, at this point. :)
 
Alfredton/ Sebastapol

Hi pwinne,

Thanks for the link. I have seen these units advised on realestate.com.au in Alfredton. I will make some enquiries on these properties.

By the way, do you and anyone have any idea of how much I can bargain the properties in Sebastapol down to? I will need to do some more research on Sebastapol and other surrounding suburbs of Ballarat.

I have been considering to buy my next property in either Ballarat, Bendigo or Newcombe/ Whittington (Geelong). Need to get my act together to finalise my research, decide where I should buy and start looking within the next month or 2.

Catherine
:)
 
catlib01 said:
Hi everyone,

I wonder if anyone can shed some light on Alfredton, a town close to Ballarat? It will be appreciated if someone can comment on what Alfredton is like to live in, industries, employment, infrastructure if any around the area, etc?

Ballarat has experienced consistent capital growth, so it will be interesting to check out surrounding areas and see if there are any possibility experiencing the ripple effect on capital growth from close by Ballarat.

Catherine
Click to expand...

I am a Ballarat resident Catlib.

Alfredton seems to be one of the places "to live" in Ballarat. I for one have never understood this, as it is on the complete opposite side to Melbourne, is a good 15-20mins out of the CBD to some parts of Alfredton (considered a fair distance in Ballarat), but it has strong growth and will continue to with a new suburb - Lucas, being set up just past Alfredton (bordering it) where they plan to increase the population by 30000 residents over the next 20-25 years.. With this in mind they'll increase infrastrature, facilities etc in the area to make it all self suffucient.

As a poster above said, it is a suburb of Ballarat, not a town near by.
 
The state government has confirmed that it will be proceeding with the $5bn regional rail link and works have commenced.

In addition the Federal government has confirmed its commitment to fund a $55M cancer centre in Ballarat which will significantly benefit the local economy and provide additional professional employment within the area.

It is evident that Ballarat is in the process of receiving a substantial amount of capital injection that it has not seen in a long while, which will inevitably have a positive impact on property prices and amenities.

From a commercial perspective the numbers stack up very well with 1% vacancy rates and yields of 6%+. Also, Ballarat has excellent streetscapes with consistent period housing in leafy streets which draws similar parallels with the eastern suburbs of Melbourne.

The transformation of Ballarat into a major Regional hub has already commenced and the heightened affordability challenges in Melbourne Metro makes Ballarat very much viable option and this will only be enhanced once the rail works are complete.

Ballarat is very undervalued and has massive potential, especially when you look at the State Government and Local Councils blueprints for its future.

When you consider the median house prices of other Regional areas for instance such as, Geelong which is $460K+, you can see that Ballarat has a lot of scope for capital growth.

Be commercial and never buy based on emotion.
 
During the week the V/Line website indicates that there are a few, 63 - 64 min services to Southern Cross.

I think its reasonable to expect that travel times will improve from the above numbers as parts of the Ballarat to Melb train journey currently only has one train track.

I don't believe the time table for the rail link has been published as yet. Would be awesome if it can get into the 50 something minute mark.

Watch this space would be my recommendation.
 
Hi,

Even at 63 - 75 minute trip at a cost of $85 for a weekly ticket is still very good value, and better prices on the yearly ticket.

This also includes all metlink services (melbourne) and bus services in Ballarat.

Thanks
 
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