I've done quite a bit of research and think it's an 'ok' suburb to invest it - but I would be interested to hear some forum member's thoughts on Bell Park or Geelong in general.
Hi Daniel,
I know Geelong but not Bell Park sorry. Re Geelong - I like it because it is near water (most always good) and it is an easy (relatively) commute to MEL if you have to go there. Also Avalon airport is just nearby.
I did some quick research on Bell Park and on paper it looks pretty good.
From RPData: The size of Bell Park is approximately 3 km². It has 4 parks covering nearly 4% of the total area. The population of Bell Park in 2001 was 4,239 people. By 2006 the population was 4,651 showing a population growth of 10% in the area during that time. The predominant age group in Bell Park is 30 - 39 years.
Households in Bell Park are primarily couples with children and are likely to be repaying between $600.00 - $800.00 per month on mortgage repayments. In general, people in Bell Park work in a non-specific occupation. In 2001, 74% of the homes in Bell Park were owner-occupied compared with 72% in 2006.
Currently the median sale price of houses in the area is $228,000.
From APM:
See attached CG chart of medians for last 10 years - good long term @ 10.56%!! and houses are only taking 2 months to sell
From SQM research: Rental vacancy sitting at 2.3% - under 3% is generally good
But rental yield looks only average at 4.9% (APM)
Overall just from the numbers alone it has a low entry level @ around $230K, ok yields of 5%, low vacancy of < 3%, but excellent CG of over 10% pa.
Worth some time on the ground doing some more DD.
