Dubbo and surrounds.

[AndrewT]

Just having bit of a look around and had a browse through dubbo. Anyway, straight away I notice a few properties that don't seem too bad. Found one that, if my calculations are correct, would be achieving around 7% yeild. Seems like a nice little house thats close to the centre of dubbo and a newish property.

According to the spreadsheet, it would be around $70 pre-tax a fortnight and around $29 post-tax to keep with it being basically cf neutral after 4-5 years.

What are peoples thoughts on dubbo and the surrounding suburbs? Seems to be a very decent size suburb with 40,000 people. A few big projects going on to upgrade things, with a $18.3m theatre going in amonsgt other things.

Anyway, just wanting to see peoples opinions of the area.

Thanks,
Andrew.

 

[gg1965]

I've got 2 properties in dubbo and about to jump on a third. So you could summise that i have confidence in the place.

As with all cities - there are some good areas and bad in Dubbo. Be careful of the cheap places in the old Gordon estate (now known as Rosewood Grove) and also be careful of some of the cheap places that front the major thoroughfares - ie Whylandra St, Cobra St and Victoria st. They get an endless amount of trucks, B-doubles etc going by at all hours.

But there are some new developments going in the place that is a sign of confidence. West Dubbo will be getting a new Woolies, Big W and shopping centre by the end of this year, and surprisingly you can still get some good cheap houses relatively close to this developement.

You have already mentioned the new theatre, but in the same area, some Newcastle development company is going to be buildnig a new 3 storey offcie blcok, and more surprisingly, Quest Apartments have a DA in for a 3-4 storey apartment block in the CBD area. If Quest is looking at going there, then the city must have some good signs in the future.

Plus, on the outskirts of the city, near Bunnings, another Newcastle firm, a different one from the earlier mentioned one, is putting in a $250 million dollar business park. That is a lot of money for Dubbo. They have already secured some internatrioanl manufacturing firm that does some special type of glass based sheeting and Dubbo's climate was perfect for their manufacturing.

Also, some mystery buyer hasd bought the complete grounds of the old RAAF base and is planning on some super development there. This isn't public yet so watch this space on that one.

Other items to look at - the university there is expanding, the TAFE there is big etc.

Don't take my word for it as your DD though - go out and look for yourself.


Thanks


g

 

[runalltheway]

Worth a look - but which *street?

This thread's a little old, but I lived in Dubbo for 20 years, so I can hopefully provide a little "colour":

West Dubbo
Completely agree with GG1965. Gordon Estate might have improved and changed its name, but still has a very bad rep with locals. Your tenants are unlikely to be good quality.

Central Dubbo
There are some pretty unit blocks in the centre of town, but I think most Dubbo people prefer to live slightly away from the main streets (Macquarie, Darling, Brisbane, Cobra, etc). It's only 10mins from one end of town to the other by car and everyone owns a car (there is no public transport to speak of).

New developments
The university has been the most important. It means that people in their late teens are choosing to stay in town, or move into Dubbo from outlying areas, to study nursing, teaching, business, etc. The theatre is not very popular locally and I don't see it increasing demand for rental accomodation. The RAAF base development may go ahead, but it has been discussed on and off locally for 15 years, at least.

Tenant quality
Can be a problem in country towns (I speak from experience). If you buy a Dubbo IP, it's worth stumping up for an airfare every year, to check out the condition of the place yourself (or ask the PM to take photos and email them to you).

I think the town has potential - I'm looking to buy an IP there myself. But all country towns have good *streets* and bad *streets*, rather than suburbs. If an IP is offering great yield, you should check it out in person.

 

[Sydg77]

Question re: Dubbo IP

Hi forum members

Looking to buy an IP in DUBBO and found a few located along Boundary Road.
Whilst the returns, on paper, appear to be promising, I would like to know a bit more about the neighbourhood in this part of Dubbo. Is it recognised as a "good suburb"?

Cheers

 

[juzza]

Hi forum members

Looking to buy an IP in DUBBO and found a few located along Boundary Road.
Whilst the returns, on paper, appear to be promising, I would like to know a bit more about the neighbourhood in this part of Dubbo. Is it recognised as a "good suburb"?

Cheers

was born and grew up in dubbo and have just returned for temporary stay.
lots has changed in the 15 years I was not living here. They now have charles sturt Uni, very large theatre and there was just talk of the hospital getting 80 million dollar up grade but I I know it needs alot more


South dubbo is an area that is sort after in dubbo. and boundry road is in south. The rental market is tight is very tight in dubbo and with a couple of mines on the table should only get tighter.

 

[Sydg77]

South dubbo is an area that is sort after in dubbo. and boundry road is in south. The rental market is tight is very tight in dubbo and with a couple of mines on the table should only get tighter.

Thanks Juzza sounds pretty good =)
One more question.. how near are the HC ppties from this street?

 

[juzza]

Thanks Juzza sounds pretty good =)
One more question.. how near are the HC ppties from this street?

Hi Sydg
are you referring to the housing commision houses that were always on the news. if so these are in west dubbo on the other side off town. It was called gordan estate but the have moved alot of the trouble makers out and have renamed it rosewood grove. there are some new houses being build there but not sure if I would by there.

 

[Bullfrog]

Dubbo & Surrounds

Hi Everyone,

We've got a couple of properties in Narromine just down the road. We bought them a couple of years on the back of the good things that were going on in Dubbo. We've been very happy, properties easy to rent out with good returns and we've picked up some solid capitol gains. I'm just putting up rents again so things are looking great.

Cheers Bullfrog