In And Around Geelong

[melbkid]

Hi ,

Im looking at insights into Geelong and its neighbouring suburbs.

Specifically:

If you were to invest in Geelong which side of Geelong would you look at:

Understand Corio has great Yields but Capital Growth?? Unlikely I think??

Has anyone invested in Belmont Whittington side of Geelong??

Does anyone else see Portarlington as being what Portsea and Sorrento is today??

 

[strongy1986]

Hi ,

Im looking at insights into Geelong and its neighbouring suburbs.

Specifically:

If you were to invest in Geelong which side of Geelong would you look at:

Understand Corio has great Yields but Capital Growth?? Unlikely I think??

Has anyone invested in Belmont Whittington side of Geelong??

Does anyone else see Portarlington as being what Portsea and Sorrento is today??

Portarlington like Sorrento?
I'm pretty sure Queenscliffe, Lorne already have that covered

It's more likely to become a suburb of Geelong over time.

What's your time frame? You may well be right on your thoughts but it may not be worth the wait.
I often think North Shore would be a great place to invest as one day all those factories will just disappear. However Im not sure it would be a wise investment because it's almost impossible to know when it will happen.

If you want a good idea of where to buy just look at incomes in suburbs compared to prices. Then you will know what areas can afford what rents. Of course you also need a low supply of rental stock

 

[melbkid]

Thanks

Im ready to move on my next investment...my third.Have about 300k Equity built up and id rather invest outside Metro Melbourne....

Feelings are that a 200k Unit in nearby Geelong is more likely to jump to 250-300k than a 2 Bedder in inner Melbourne jumping from 450-500 to 550-600k...

Going to Geelong this weekend for a drive to get more of an idea of the area.

Quite funny that im more cautious on the next investment than i was on my first investment even though im in a much better position???

 

[strongy1986]

Kid, if I were you I would just keep driving about another 7 hours and check out Adelaide.
You will be looking at much the same price bracket and in a city 7 times the size of Geelong.

I do understand what you mean when you say you can see it being easier for properties to jump in Geelong.

This is an unpopular view around here but the growth Melbourne has seen in the past 10 years is not something that happens every cycle.

7th most unnaffordable city in the world and incomes arnt rising as much as in regional Australia. Conservatives will laugh but if you look at the facts you will see that many people in outback and regional towns earn twice the income of well qualified city folk yet the houses are a 1/4 of the price. To me it would be illogical for these prices not to grow and vice versa for Melbourne

Way off topic but if your not confident then look outside of Victoria. I can't see any reason for prices to go up in vic in the short term

 

[S.T]

I like East Geelong and Newcomb, especially if they develop the old salt works on the coast, close proximity to the cbd.

 

[Optimist]

I have two properties for sale in the Geelong area both 1 bedroom units - one in Geelong West and the other in Bell Park next door to the old Geelong Golf course which is in the process of being developed into a new estate, golf course and retirement village.

 

[K_Raheja]

Hi ,

Im looking at insights into Geelong and its neighbouring suburbs.

Specifically:

If you were to invest in Geelong which side of Geelong would you look at:

Understand Corio has great Yields but Capital Growth?? Unlikely I think??

Has anyone invested in Belmont Whittington side of Geelong??

Does anyone else see Portarlington as being what Portsea and Sorrento is today??

Invested in west norlane. (near ring road)
Net yield is approx 5.5%
don't know capital growth.
but i have looked up comparable properties for sale and sellers are asking to what it seems roughly 5 to 6% more than last year.

not sure if they are being bought at that price though...

good luck.

 

[wobbycarly]

Here's some info I've contributed about Geelong. It's still pretty current.

http://somersoft.com/forums/showpost.php?p=773374&postcount=4

http://somersoft.com/forums/showpost.php?p=823708&postcount=2

 

[melbkid]

That's great Thankyou! Went for a good drive from Geelong through to Port , Queenscliffe and Ocean Grove, then went through Corio, pretty unreal how the neighbourhoods and the housing changes within kms..type of cars in the driveways gave me a good idea of the changing neighborhoods....
Think your right with all the above..
Whittington Thomson Newcomb is where I'm now focusing on.... I think....

 

[wobbycarly]

That's great Thankyou! Went for a good drive from Geelong through to Port , Queenscliffe and Ocean Grove, then went through Corio, pretty unreal how the neighbourhoods and the housing changes within kms..type of cars in the driveways gave me a good idea of the changing neighborhoods....
Think your right with all the above..
Whittington Thomson Newcomb is where I'm now focusing on.... I think....

Personal opinion is that these locations have better prospects for gentrification than others.