Bathurst or Orange?

C

Commentator

Hi guys-

Excited, hoping that by 21 will be able to purchase my first IP.

Got a 40k deposit ready, and Just ned to put in my second years worth of tax returns to (hopefully) get pre-approval for a loan.

was looking at a property worth anywhere from 150-200k. (Assuming I'd be putting in a 20% deposit with some breathing room) Was wondering if any of you had opinions on Orange Or Bathurst?

I was thinking Bathurst would be good because its close to a university - has a growing population and decently priced houses.

Orange is quite similar though, has a charles sturt satellite campus and a slightly higher pop.

Was even considering a two-bedroom apartment in Kingswood near UWS... but I am looking for a more positive cash flow property as opposed to capital gain...

Any suggestions or tips guys?
 
I have a property in West Bathurst, purchased in Nov for $265k 3x2x2 brick highset rents out for $340p/w... Purchased for similar reasons to which you mentioned.

Be interested to see what this http://www.realestate.com.au/property-house-nsw-bathurst-114001511 goes for mine is little similar to this not too far away.

I preferred Bathurst as I beileve it will have better growth long term.

Hit up the search button, you will find existing topics on both :)

Goodluck
 
I've got an IP in both. I don't really have a preference, but it does seem to me like prices in Orange are all over the place at the moment. Plus, I've heard of a few sales where the asking price was fair but the sale fell over because the valuation came back much lower. Not sure if the same thing is happening in Bathurst. I only heard about the failed sales in Orange because my mum lives there.
 
I think the problem with Orange at the moment is the two-tiered market. The majority of the DOH sales are for owner-occupiers only, so they are selling at ridiculously low prices. Unfortunately these sales are recorded with all of the standard sales, so the average price looks low. I've been trying to get re-vals on my properties and comparables are pretty much the DOH sales rather than private sale prices. I wonder if anything can be done about this?
 
beachgurl said:
I think the problem with Orange at the moment is the two-tiered market. The majority of the DOH sales are for owner-occupiers only, so they are selling at ridiculously low prices. Unfortunately these sales are recorded with all of the standard sales, so the average price looks low. I've been trying to get re-vals on my properties and comparables are pretty much the DOH sales rather than private sale prices. I wonder if anything can be done about this?
Click to expand...

We did our Orange IP 2 months ago where we had to physically attain the comparable sales and walk the valuer through the IP.
 
My desktop valuation from my Bathurst IP went up $5k from Nov12 - May13

Not that a desktop valuation is something to hang your hat on...
 
They mention Orange on 'Your Money Your Call - Property' last night.

Magaret and the panel believe that Orange came on very strong in previous years and that would be probably be around 2-3 years before it kicks back up again.

She didn't mention Bathurst. I always thought Bathurst was a better play long term.

She was more in favor for Logan Shire QLD and Hackem SA.

Me personally i've just invested in Wagga Wagga NSW, but I dont mind the 2 that Maraget suggested as well.
 
I don't mind wagga wagga acutally. I see the long term potential in bathurst though so doing the majority of my reading about that area...

bring on e-tax 2013!!
 
I agree with Chilliblue - they've both had their run, especially for the entry level $200K houses. The demographic for those areas - the 3 bedroom houses are > $200K. I'd go Kingswood, 2 bed units.
 
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