General Opion about Bacchus Marsh, Victoria

Hello Folks - what's the general opion of Bacchus Marsh (BM) in Victoria.

I recently migrated in from UK and as a first time investor, my thoughts are to reside in BM where houses are affordable and access to the city takes maximum 50 minutes via the V-train ( 1 visit so far to BM)

I have identified a 4 bedroom house in BM $370k , close to BM Grammar (another attraction for my son's education). I haven't made the final call yet. Before I do so, I am hoping to get some feedback about BM with answers to the following questions:

Has BM had a solid growth in the last 5 years
Does it have a vibrant culture surrounding it
Are there jobs in the area

Thanks and hope to hear from you all

Rnonics
 
I am hoping to get some feedback about BM with answers to the following questions:

Has BM had a solid growth in the last 5 years
Does it have a vibrant culture surrounding it
Are there jobs in the area

Thanks and hope to hear from you all

Rnonics

Rnonics,

Have a read of the Moorabool Council web site if you haven't already done so, they are usually a useful tool for the information you are seeking.

http://www.moorabool.vic.gov.au/

Regarding the CG for the past 5 years, others on SS will be able to offer more help than I can.

Good luck

Martin
 
I have identified a 4 bedroom house in BM $370k , close to BM Grammar (another attraction for my son's education). I haven't made the final call yet. Before I do so, I am hoping to get some feedback about BM with answers to the following questions:

Has BM had a solid growth in the last 5 years
Does it have a vibrant culture surrounding it
Are there jobs in the area

Rnomics, Bacchus Marsh is a working class outer area with higher than average unemployment, people on welfare benefits, etc. It gets very hot in summer and is miles from any beach.

I'm not sure what you mean by vibrant culture, but if you're thinking about cafes, musicians, artists, theatres, good bookshops, universities etc then Bacchus Marsh is the last place you'd go.

If your budget is extremely limited, Bacchus Marsh might be OK to get you started. A well-bought cheapie in Bacchus ($200-220k approx) might show reasonable appreciation, but I can't see a dearer place doing as well.



$370k does not constitute an 'extremely limited' budget. Rather it is only a little below the median Melbourne house price. For that amount a house in a middle or outer suburb on the suburban rail network will be affordable.

As for apprecation potential, this could be maximised by buying in the best suburb that $370k can buy, and it ain't Bacchus Marsh! Bacchus has a median of around $250k refer http://www.domain.com.au/public/SuburbProfile.aspx?searchTerm=Bacchus Marsh&mode=research so $370k is way too much.

With that sort of budget it might be better finding a suburb with a median around $400k and gettting something there as it will be a much better area 'nearer more jobs', with a 'vibrant culture' and better choice of schools. Plus Bacchus only gets infrequent country trains and has a reputation for 'bogans' and 'ferals' so you must visit first.
 
Has BM had a solid growth in the last 5 years
Does it have a vibrant culture surrounding it
Are there jobs in the area

Hi Rnonics

I think there would definitely be better choices than Bacchus Marsh for your requirements - Ballarat, Geelong & Bendigo all come to mind.

I can only give you some impressions of Ballarat, which is where I live - others can give you the pros and cons of the others.

The new 'fast trains', although not as fast as promised, will get you to Melbourne in between 64 to 75 min in theory - I assume you are aware of the ongoing problems afflicting the reliability of Victoria's rail services.

I have done OK with CG over the last few years (have only been investing since 2001 though), but Ballarat generally follows the rule of prices doubling every 7-10 years. There has been huge growth as far as building & population growth over the last few years too. Obviously, given the economic climate, that is likely to at least stagnate for the foreseeable future, like many other places. But if you are planning to buy and hold that shouldn't be an issue anyway. Recently Ballarat was listed in Australias top 10 most affordable housing areas (as was Bendigo).

http://www.propertyoz.com.au/library/Top%2010%202008%20residential.pdf

As far as vibrant culture goes, Ballarat has two universities with multiple campuses - the University of Ballarat's Arts campus is located right in the CBD and forms part of an arts precinct which includes the Ballarat Fine Art Gallery. There are numerous cafes and alfresco eateries (although Ballarat is known for its cold weather) and restaurants of widely varying quality. There's several book stores, a reasonable public library, Her Majesty's Theatre presenting live shows, the currently dry Lake Wendouree, the Eureka Centre and of course the tourist attraction Sovereign Hill and the Gold Museum. There are many heritage buildings dating back to Ballarat's gold mining hey days.

As far as jobs go, I notice there has been a large drop in advertised positions within the last few months & assume this is a symtom of the economic climate. There is probably still more opportunity for decent employment in Ballarat than BM however, and in both places many people do commute daily to Melbourne. I actually know several people who commute from BM to Ballarat to work too. Major employers in Ballarat include two hospitals and associated health services; the two unis; various factories including Mars & McCains; call centres including Telstra, Centrelink, DSE (Dept. Sustainability & Environment) and ESTA (000 emergency calls).

I think Ballarat has higher than average youth unemployment, but anyone with a decent education or work history would have little difficulty finding employment. Professionals in many areas are in high demand, particularly health professionals.

There is a Ballarat Grammar too (ELC-12), located in the lake area of Wendouree. http://www.bgs.vic.edu.au/

For $370K you would easily be able to get a very comfortable 3-4 bedroom modern house or nicely renovated period home.

Areas handy to Ballarat Grammar include Wendouree & Lake Gardens if you want to search RE online. A new train station is soon to be constructed in Wendouree between these 2 areas, but it is under a 10 min drive to the city station anyway.

Heres some more links to help you research other areas too:

http://www.geelongaustralia.com.au/Visiting_Geelong/Geelong_Living/Top_10_Reasons_to_Move_to_Geelong/

http://www.provincialvictoria.vic.gov.au/

http://www.bendigo.vic.gov.au/


Hope this helps

Toon
 
General Opinion of Bacchus Marsh

Thanks folks for all your in depth feedback. Much appreciated.

Looks like BM will not cut it out for an entry point as a first time investor.

Other options I am considering are in the Point Cook area, Sanctuary Lakes (though hard to find anything in this area for $370k price range). Neigbouring new devolpments coming around Sanctuary Lakes look very attractive.

Once again thanks for all your indepth feedback.


Rnonics
 
Thanks folks for all your in depth feedback. Much appreciated.

Looks like BM will not cut it out for an entry point as a first time investor.

Other options I am considering are in the Point Cook area, Sanctuary Lakes (though hard to find anything in this area for $370k price range). Neigbouring new devolpments coming around Sanctuary Lakes look very attractive.

Once again thanks for all your indepth feedback.


Rnonics

You'd have great difficulty finding anything in Sanctuary Lakes for that price. Add to this the significant Body Corp fees and it would be out of reach for anything less than say $450,000. In the new areas (such as Skyline) you'll find that $370k will only buy you an expensive block of land!

Have a look in Point Cook, Altona Meadows or Seabrook. These are nice areas, close to beaches where you will get decent value for money.
 
I can definately agree with alot of your points Spiderman because i am a local in Bacchus Marsh but there are also a few points that i dont agree with. I am personally ready to purchase my first IP and i am definately not looking local. I think there are many better options than Bacchus Marsh and i am looking alot closer to the city for my first however, Bacchus Marsh has a great, growing little cafe' culture and most cafe's are packed every morning. The three main pubs have all had major facelifts in the past 4-5 years and have regular musicians playing most nights. Sunday arvo's are getting huge in Bacchus Marsh and you can barely get standing room in the main beer gardens. Victoria Uni in Melton is only 10 minutes direct by train and Ballarat University have just established a science department inside of Bacchus Marsh Secondary College.

My parents have established a property portfolio of well over a million dollars in the past 10 years from strictly Bacchus Marsh properties and one pub (Mildura). I am sure that there are many better suburbs to invest in the short term but like most places there are constant bargains to be had. I purchased my PPOR 4 years ago for 260K and have recently had it valued at 320K.. It is a modest home in the nicer area of town though..
 
Bacchus Marsh is a fabulous lifestyle and gateway!

rnonics - ignore spiderman (or is it really the joker?)

Since moving to the the Bacchus Marsh area 13 years ago from inner Melbourne my husband and I have created an admirable portfolio consisting of two houses and one block of four x two bedroom units. We also still have our existing inner Melbourne house which I have no intention of moving back to. Yes, it would be nice if the capital growth was higher but lets face it: I would rather live in a house with a block of land larger than a postage stamp!! While 370k does sound expensive, there are other cheaper alternatives, as with anything else. I challenge spiderman to climb out from under his rock on the other side of Melbourne - even though it is near the beach (and Frankston) and come to where the country meets the city and people still have time to smile and talk to each other in the street. As a property manager I am still looking for the bogins and ferals he has claimed live here - obviously they don't rent through me! The Marsh has seen a steady influx of people moving to area from inner Melbourne - people that want to know their neighbours, share a cuppa or beer and a chat. They know they can get to Geelong, Ballarat or Melbourne within an hour. One man that moved from Werribee couldn't believe Santa walks down our main street giving our lollies and talking to the kids. This is what Marsh life is all about and my family and I are here to stay!
 
While 370k does sound expensive, there are other cheaper alternatives, as with anything else.

Value for money is No 1 when buying and comparing suburbs.

You could do a lot worse than buying something in the low 200s at Bacchus. At that sort of price the facilities at Bacchus may represent fair value for money.

But when the budget gets a bit higher (like $370k) remember that if you buy in a cheap suburb you're getting no more area benefits than somemone who pays $150k less. So except for those who are happy living in a palace surrounded by $250k-standard homes and facilities, $370k represents poor investment value. In contrast, either 2 x $185k cheapies in Bacchus, or a $370k place in a high amenity area next to $400k houses would likely be better investments.

As a property manager I am still looking for the bogins and ferals he has claimed live here - obviously they don't rent through me!

Potentially useful local feedback. There is however a possible vested interest and the buyer should do further investigation, including the visits I recommended.


The Marsh has seen a steady influx of people moving to area from inner Melbourne - people that want to know their neighbours, share a cuppa or beer and a chat.

Very possible. But I'd like to know why they moved. Was it because of an attachment to the area, or because they wanted to buy a house, and areas like Bacchus, Hoppers, Epping were what they could afford?

They know they can get to Geelong, Ballarat or Melbourne within an hour.

This sort of claim is often made for remote areas to cover the fact that have very little within 10 or 15 minutes. It's a funny sort of salesmanship when the main virtues of an area are that it's close to other areas!

I'd rather an area that can stand on its own merits. For an investor, Bacchus certainly can for a $200k budget, but possibly not for a budget near $400k. An owner occupier is different; if they like horses or partake in some sports that need lots of nearby land Bacchus might be ideal. But that is lifestyle, not making money or buying the best assets for your money.

It's not my money, but an investment decision I would think is about buying value.

How do you know you're getting value?

One compares Bacchus (a $250k town) to other $250k areas, comparing both the area advantages and the available housing stock.

* If one $250k suburb has an electric train (Hoppers) but another (Bacchus) doesn't, doesn't that make the former better value?

* If one $250k suburb is nearer the beach and city (Frankston North), but another is further away (Bacchus), does that make the former better value?

* If one $250k suburb (Doveton) has a lot more jobs within 10km than Bacchus, does that make the former better value?

* If one suburb is near a university campus that's not under threat of closure (eg VU St Albans or Sunshine), does that make it better than a suburb whose nearest uni is under threat? http://moorabool-leader.whereilive....-university-to-close-melton-sunbury-campuses/

* If one $250k suburb (Werribee) has a large shopping centre, is a designated major activity centre and 30 minutes from the city and Geelong but another (Bacchus) isn't, doesn't that make the former better value?

* If you can buy a $370k house in a bayside suburb nearer the city than a $370k house in Bacchus, would you say the former is likely to have higher land value than the latter?

I answer yes to all of the above!

And note none of this is based on emotional things like yearly visits from Santa, but from livability comparisons between suburbs on the basics like jobs, shopping, transport and education.

Nevertheless I'd still say there's nothing inherently wrong with property in Bacchus, and any ardent reader here will know my strong disagreement with Monique Wakelin and her 'within 10km of the CBD' buying theory.

However value for money is key, and $250k in Bacchus scarcely qualifies unless the purchased property has special attributes. $370k would be harder still, since there are so many other higher amenity suburbs that are within reach and would represent better value, again unless the purchased property is special.
 
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Like i said Spiderman i am a local and definately have a strong opinion of the enjoyment of living here but i also found your second post very informative and thorough. I think you have noted some pretty fair points. I am looking to invest elsewhere but like all areas in this economic climate i think there are bargains to be had everywhere and i wont limit myself to one or two places..
 
Folks,

Once again thanks for the feedback. I am definately eyeing other areas around the point cook area.

Thanks for all your detail input about Bacchus Much.

Much Appreciated.

RNONICS.
 
Would you put 40K into Bacchus Marsh for a PPOR to eventually be converted into an IP after 6 months - 1 year? I don't know though I might really like the place and just stay and commute to Melb or Ballarat even for work...
I was looking at these places:
http://www.realestate.com.au/cgi-bi...t=&header=&cc=&c=60484474&s=vic&tm=1251880395 (approx 182K H and L Package)

http://www.realestate.com.au/cgi-bi...t=&header=&cc=&c=69551600&s=vic&tm=1251880434 (approx 184K H and L Package)

These have 36.5 K in FHOG benefits taken away and there is no stamp duty as its off the plan.

Alternatively I have found a large 800 metre+ lot selling for 83 K in Bacchus Marsh where I could build and possibly subdivide later. Though I am not sure as its already a subdivision (part of a new estate).

Alternatively I was looking at purchasing a 1 bedroom unit in Queanbeyan (for 150K -14K FHOG odd).

I am looking at getting a 10 year loan rather than longer in order to get as much equity into the home as quickly as possible.

Which one would you choose if you had 40K and hadn't purchased before?
Or what other options would you choose (say anywhere near Melb, Sydney, or Canberra - I am open to moving for work)?
Would the houses in Bacchus Marsh be easy to rent out (I would buy it there because the CG should rise over a few years making the equity I have go further)?

Look forward to any responses - it is a very informative forum;)
 
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Rnomics, Bacchus Marsh is a working class outer area with higher than average unemployment, people on welfare benefits, etc. It gets very hot in summer and is miles from any beach.

I'm not sure what you mean by vibrant culture, but if you're thinking about cafes, musicians, artists, theatres, good bookshops, universities etc then Bacchus Marsh is the last place you'd go.

Bwhahahahaah I can only presume you were trying to be funny with this post as it is very funny!!!!

Gets hot in summer??? Wow who ever heard of the weather getting hot in summer eh? I didnt realise the blue chip suburbs had a different weather system, how lovely...

Miles from any beach?? Are you for real? It takes 50 mins to Geelong, An hour to the surf coast. As oposed to inner city to the surf coast which would be the same. So I suppose to you unless you are in Geelong or Phillip Island everywhere is miles from the beach?

As for vibrant culture, and nowhere has this unless you are inner city.

What you have failed to mention is the comfortable, community spirit where you can walk home safe at night and buy a 5 bedroom house on a big block of land for under $500k all within an hour of the city, geelong and ballarat. A nice central location that still has a country feel to it. Yep sounds terrible huh....
 
Interesting thread. I'm not looking at buying in BM, but I feel I can take some things away with me thanks to spiderman's post.

I think BM is a really nice place to live. But who would chose to rent there? As in marketing, you should know who the customer is (in this case the renter).

I work in Bentleigh, and would like to one day buy a home here, but I wouldnt rent here. Theres other places with the same rent or a little more, such as caulfield.

I used to know a guy who lived in BM, and would travel 1hr past the city to get to work. For him (with no kids) it was ok. He bought in Baccus because in the long run, that was the better choice. I'm sure if he rented, he would have chosen somewhere closer to work.

Anyway, like SPiderman said, if you look at what it has to offer renters, you'll find those qualities plus more at the same price else where.

And on a final note(s), Barccus Marsh is a gem. People should stop past if they get a chance. It isn't much of a "cafe" lifestyle, but it's friendly. And its not bogans that live there...the bogans are in St Albans.
 
Gets hot in summer??? Wow who ever heard of the weather getting hot in summer eh? I didnt realise the blue chip suburbs had a different weather system, how lovely...

There are indeed variations in temperature between suburbs:

http://www.bom.gov.au/info/ftweather/page_30.shtml

Key factors include more vegetation and rainfall in the east, heat islands in the inner suburbs and earlier sea breezes near the bay.

During the hot days last summer there were times when bayside suburbs were 10 degrees cooler than the CBD due to the earlier arrival of sea breezes.

That's significant in my book.

So I suppose to you unless you are in Geelong or Phillip Island everywhere is miles from the beach?

And that would be a fact, since most suburbs of Melbourne are 2 or more miles from a beach.
 
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Toon ...

I am hunting for an investment property in Ballarat at the moment.

You mentioned that you live in Ballarat. What are the best and worst areas of Ballarat?

I am looking for a property that has an exsisting dwelling but with the potential for me to build on in the future. Are there any areas I should focus on/exclude for this type of project?
 
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