Investing in Warragul?

[jackstar]

I am about to invest in my first IP. I have the opportunity to invest in a residential property in Warragul, Vic, at a little under market value. Would anybody like to comment on the Warragul market? Any comments would be greatly appreciated.

 

[our obsession]

Historical Growth Figures for Warragul..

Jackstar, can share with you the historical growth pattern for Warragul; (for what it's worth):

Warragul: 1994 Median House Price: $93,250..........2004 MHP: $215,000...........Change of 131% over that time frame.

While I'm at it here are some neighbors too:

Drouin: 1994 MHP: $88,750..............2004 MHP: $203,000......129%

Yarragon: 1994: (Less than 10 sales that year) MHP: $92,000...............2004: $167,500...........Change of: 82%

Trafalgar: 1994: $76,000.................2004: $170,000.......124%

Moe: 1994: $65,000........................2004: $110,000.........69%

Longwarry: 1994: $88,000.................2004: $185,000.........110%

Koo-wee-rup: 1994: $79,000.............2004: $200,000.......153%

Nar Nar Goon: 1994: $113,500...........2004: $327,000........188%

Got a little carried away there....

Statistics courtesy of Victorian Valuer-General 1994-2005.

 

[tiger]

Warragul is still rather cheap... what is the employment situation like there?
What would be the closest place that people would travel to for work?

 

[pursefattener]

I have a friend over in Warragul who travels into the city on the train and back every day to work . Apparently heaps do so ....

 

[units4me]

Warragul is soon to be LESS THAN AN HOUR to the city centre on the opening of the Pakenham bypass later this year.

Also, very sought after farming land with descent rainfall.

 

[super_sam]

Warragul is soon to be LESS THAN AN HOUR to the city centre on the opening of the Pakenham bypass later this year.

Also, very sought after farming land with descent rainfall.

Would be a whole lot longer than that if doing a daily commute in peak hour. 2 hours perhaps?