Geelong West .. your advice &/or data?

Hi all,

I have been considering getting a foothold in the Geelong West market. I am looking at a 3br House PPOR that I can rent out rooms, gain first home owners grant, with the potential to completely lease out for some time while I address the principal.

I believe Geelong West offers the lifestyle I'm looking for, but also with great capital growth opportunities. (I am from Geelong originally and know the area very well).

I have been looking at a budget of around $320-360, with a $50k deposit. (although the property may need some work at this price range).

My question is....could anyone help me out with sales data for the last 8 years for growth in Geelong West? Does anyone have an opinion of buying in this area? Anyone have anything to say on potential future growth?

Thanks all!
 
Hi art, no data for you, (you can do your own research!) but not sure how realistic 320 - 350K for a 3bed in Geelong West is? My grandparents' 3bed house in Geelong West was sold about 12 months ago for 410K and needed LOTS of work to bring it up to scratch (it hadn't been updated since it was built in the 50's). Just some food for thought.
 
Any others with advice?

Thanks Mr Fabulous: you are right, 350k would be the entry point for a 2 br house from my discussions with agents and research. May also need a bit of work.

Anyone else have any advice? Much appreciated!

*bump*
 
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