Bathurst

[salla]

Happy New Investing Year everyone!

I hope someone on the forum may be familiar with Bathurst and may offer some advice. A recent turn of events has meant that a family member may be enrolling as a full time student at CSU in Bathurst this year.

Question: If he and his wife (works full time in Sydney, no children, first time buyer) were to buy a property in Bathurst for him to live in as PPR and possibly rent out a room or two, where should they be looking? What suburbs are more desirable and easier to rent out when he finishes his degree and moves back to Sydney? Should they be looking for a house or unit for possible rental potential or CG in the future? They could only afford around $250K.

Thanks in anticipation.

 

[vvsingh]

I have studied in Bathurst many moons ago and I would personally rent there as rent in the small town is cheap. During my time property was not booming. Things may have changed and I may eb pleasantly surprised.

 

[BRUTE]

Definitely not Kelso or its immediate surrounds, on the local news again tonight with housing commision tenants complaining about their homes!. Not sure how many places rent rooms around town, a few are available from time to time but don't seem to rent quickly. Lots of quality 2/3 bedroom units centrally which is very desirable for uni students as it is at the top end of town, ie walking distance. We recently picked up a 3 bedroom unit close to the Uni, DPI, Forestry and schools, and sure enough, uni lecturers and Forestry staff were the first through. There are some cheap home packages in town but i dont believe that they are located close enough to the centre of town for good rental and CG.

The chart tells the story
http://www.domain.com.au/public/SuburbProfile.aspx?searchTerm=Bathurst&mode=buy

 

[salla]

Thanks for the responses to my queries re areas in Bathurst to avoid/buy. Brute, is the top end of town essentially the town centre or further out and are there streets that are more rentable than others? The chart is very handy, thanks for that.

Vvsingh, rents in Bathurst appear expensive now compared to the purchase price of units and houses there - certainly rents are cheaper than Sydney but isn't everywhere cheaper than Sydney!

Don't students rent rooms in Bathurst? They must be better off than I was in uni days.

I love the period homes in Bathurst but maybe they aren't the most practical to live in. What do others think?