Clifton Springs VIC
- Thread starter Dave Hooper
- Start date
Sounds good so far, but that's about 1% of the info you need to look at.
One of my mates is the Golf pro at Clifton Springs Golf Club, and he loves it there.
But, look at what the rental demand is like, what the rental vacancy percentage is like, what the yields are, what the more popular types of properties are for rent.
No good getting a cheaper house if no-one wants to rent them and the yields are bad, and there isn't a lot of cap growth there.
Look at the demographics of the area; is it full of pensioners (many seaside villages are), or are there lots of younger people and families starting to move into the area. Are they moving out? Is the population increasing/decreasing?
For example; we live in Dromana which is just across the Pond. When we first bought there in 2000, we bought because it was near the beach, cheap and no crowds of humans. It was a pensioner and holiday house seaside village. But since then there has been major improvements to the area with new shopping mall, improvement to the Morn Peninsula Freeway, making commuting to Melb better, the Marina has started in Safety Beach etc. So, as a result, a lot of families are moving in, the pensioners are gradually dying off and selling to the families, and they are renovating the houses and making it nicer, and holiday houses are being sold off to the families as well. As a result, the values are soaring (yay?). This may be what will happen at Clifton Springs.
Is there a good deal of development going on; are there a few housing projects going up, townhouse projects, new shops and new businesses, a new school/s, a new hospital? These sorts of things are probable good signs, however if there were a million townhouses being built I would be a bit cautious; could be an over-supply if the market drops, and this may make it hard to get a tenant.
Spend a few weekends wandering around the town, get a feel for it and look at the better areas, talk to a few agents, a few locals.
One of my mates is the Golf pro at Clifton Springs Golf Club, and he loves it there.
But, look at what the rental demand is like, what the rental vacancy percentage is like, what the yields are, what the more popular types of properties are for rent.
No good getting a cheaper house if no-one wants to rent them and the yields are bad, and there isn't a lot of cap growth there.
Look at the demographics of the area; is it full of pensioners (many seaside villages are), or are there lots of younger people and families starting to move into the area. Are they moving out? Is the population increasing/decreasing?
For example; we live in Dromana which is just across the Pond. When we first bought there in 2000, we bought because it was near the beach, cheap and no crowds of humans. It was a pensioner and holiday house seaside village. But since then there has been major improvements to the area with new shopping mall, improvement to the Morn Peninsula Freeway, making commuting to Melb better, the Marina has started in Safety Beach etc. So, as a result, a lot of families are moving in, the pensioners are gradually dying off and selling to the families, and they are renovating the houses and making it nicer, and holiday houses are being sold off to the families as well. As a result, the values are soaring (yay?). This may be what will happen at Clifton Springs.
Is there a good deal of development going on; are there a few housing projects going up, townhouse projects, new shops and new businesses, a new school/s, a new hospital? These sorts of things are probable good signs, however if there were a million townhouses being built I would be a bit cautious; could be an over-supply if the market drops, and this may make it hard to get a tenant.
Spend a few weekends wandering around the town, get a feel for it and look at the better areas, talk to a few agents, a few locals.
It's not communable to Melbourne. There are other really nice towns that are closer to Geelong. It's not a major centre like Queenscliff or Port Arlington.
As a place for a lifestyle/beach house getaway for personal use it looks OK. As an investment I'd say it's a risky one unless you already have a reasonably sized IP portfolio and want a bit of diversification.
As a place for a lifestyle/beach house getaway for personal use it looks OK. As an investment I'd say it's a risky one unless you already have a reasonably sized IP portfolio and want a bit of diversification.
Thankyou both for your feedback. This information you've both offered has given me a lot to think about, and I appreciate it.
Dave, just some longer term growth statistics for Clifton Springs:
Median House Price 1994: $95,500.....................2004 MHP: $237,500...........Change of: 149%
Figures from Victorian Valuer-General 1994-2005
Median House Price 1994: $95,500.....................2004 MHP: $237,500...........Change of: 149%
Figures from Victorian Valuer-General 1994-2005
Thanks, that seems to indicate that the place is growing (or at least has been).
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I understand that there is a big development planned for the area. I guess the nicer beach towns like Queenscliff and Pt. Lonsdale are too expensive now.
I also agree, Clifton Springs is a fair way away from anything, including Geelong. Very hard to get to Melb from there, since you have to go through a fair bit of Geelong.
I also agree, Clifton Springs is a fair way away from anything, including Geelong. Very hard to get to Melb from there, since you have to go through a fair bit of Geelong.
Do you have any more information on this?
Is commuting to Melbourne really a big deal? I am sure a lot of people working in Geelong would find it an easy commute, it's close to the water etc etc.
Sorry, no nothing. Just heard it, so could be wrong.
But if you have a look at the geelong council website there may be more info.
http://www.geelong.vic.gov.au/
But if you have a look at the geelong council website there may be more info.
http://www.geelong.vic.gov.au/
All very interesting, I don't know this area at all, but have growth figures over a 10 year frame for some of these places.
Geelong has less land available then Bendigo (inner city residential), they, (Bendigo Shire), did a study on land supply availability 4ish years ago, and said there wouldn't be much (inner city) land in 16 years. Outer suburbs, 20 years.
Funny how you would think regional cities would have all the land in the world to call upon, but not necessarily so...
Drysdale: Median House Price 1994: $105,000......2004 MHP: $250,000......Change of: 138%
Portarlington: 1994: $90,000...........2004: $290,000..............222%
Geelong: 1994: $110,000......................2004: $305,500.............175%
Geelong East: 1994: $85,750.................2004: $235,000.......174%
Geelong North: 1994: $77,000...............2004: $215,000........179%
Geelong South: 1994: $89,000...............2004: $255,000.........187%
Geelong West: 1994: $81,000.................2004: $243,750........201%
Lara: 1994: $101,250..........................2004: $250,000...........147%
Leopold: 1994: $115,200....................2004: $265,000...........130%
Barwon Heads: 1994: $106,500..............2004: $340,000..........219%
Winchelsea: 1994: $79,000..................2004: $166,000..........110%
Statistics courtesy of Victorian Valuer-General 1994-2005
Geelong has less land available then Bendigo (inner city residential), they, (Bendigo Shire), did a study on land supply availability 4ish years ago, and said there wouldn't be much (inner city) land in 16 years. Outer suburbs, 20 years.
Funny how you would think regional cities would have all the land in the world to call upon, but not necessarily so...
Drysdale: Median House Price 1994: $105,000......2004 MHP: $250,000......Change of: 138%
Portarlington: 1994: $90,000...........2004: $290,000..............222%
Geelong: 1994: $110,000......................2004: $305,500.............175%
Geelong East: 1994: $85,750.................2004: $235,000.......174%
Geelong North: 1994: $77,000...............2004: $215,000........179%
Geelong South: 1994: $89,000...............2004: $255,000.........187%
Geelong West: 1994: $81,000.................2004: $243,750........201%
Lara: 1994: $101,250..........................2004: $250,000...........147%
Leopold: 1994: $115,200....................2004: $265,000...........130%
Barwon Heads: 1994: $106,500..............2004: $340,000..........219%
Winchelsea: 1994: $79,000..................2004: $166,000..........110%
Statistics courtesy of Victorian Valuer-General 1994-2005
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Our PPR is actually in Clifton Springs.
As others have said travelling to Melbourne is not the quickest!!
About 20 mins drive to Geelong city which doesn't worry us, but friends think it is out in the boon docks!
Lovely community feel, very friendly & peaceful feel. However the "beach" is more like a bay.
Lots of younger families moving to area: good schools, land available.
Have not done a lot of research but based on talking to friends/my mothers group there is a bit of demand for your standard 3 bedroom family house. I would be looking at closer to Drysdale as this is where schools and shopping are.
Most houses are fairly newish, the shopping centre has most of what you need and house prices are pretty good IMO.
As others have said travelling to Melbourne is not the quickest!!
About 20 mins drive to Geelong city which doesn't worry us, but friends think it is out in the boon docks!
Lovely community feel, very friendly & peaceful feel. However the "beach" is more like a bay.
Lots of younger families moving to area: good schools, land available.
Have not done a lot of research but based on talking to friends/my mothers group there is a bit of demand for your standard 3 bedroom family house. I would be looking at closer to Drysdale as this is where schools and shopping are.
Most houses are fairly newish, the shopping centre has most of what you need and house prices are pretty good IMO.
