Norlane

Hi all!

Could anyone tell me about Norlane? Just outside of Geelong, near the water, they are what most would consider extremely cheap considering the size of the blocks. Obviously being 60km out of Melbourne it's a fair hike but if public transport is sufficient could this be a good long term investment?

Thoughts would be greatly appreciated! :)
 
TD,

Try searching using the search function at the top of the page, .... from memory there is a few threads on Geelong and surrounding suburbs that have been discussed in the past, .... you should find them an informative read.

Martin
 
As above, and any information regarding social problems etc in Corio (which is next door) you can pretty much double for most of Norlane.
 
If it helps I have been to Norlane. It appears to be a lower income development filled with a lot of Housing Commission older properties like many other communities scattered throughout the country. Some houses appear well kept, while others are total pig stys.
 
Donnars

What is your reason for Norlane, is it because it is the only area within your budget. Lets not kid ourselves the place is quite a bit run down and there is still quite a few comm houses down there. But as long a the PM does a quality reference check then you can expect a positive geared property from day 1 down there and also the area has had quite a resonable growth over the last 10.

On the other hand if you do have a little extra funds I would be looking around the area you are in ( Rowville) as it has very good growth potential as well.

Ask anyone who lived near other commision suburbs 20 years ago ( Ashburton/Port Melbourne etc) and you will get a similar type of response to what people think of Norlane today. In know way I am predicting it will be the next one of these suburbs but Geelong Shire has changed over just about all its couniclors of recent and the new ones are keen to change the stigma of some of the suburbs as well as wanting it to really become the second major CBD outside of Melbourne

Jezza
 
Donnars

What is your reason for Norlane, is it because it is the only area within your budget. Lets not kid ourselves the place is quite a bit run down and there is still quite a few comm houses down there. But as long a the PM does a quality reference check then you can expect a positive geared property from day 1 down there and also the area has had quite a resonable growth over the last 10.

On the other hand if you do have a little extra funds I would be looking around the area you are in ( Rowville) as it has very good growth potential as well.

Ask anyone who lived near other commision suburbs 20 years ago ( Ashburton/Port Melbourne etc) and you will get a similar type of response to what people think of Norlane today. In know way I am predicting it will be the next one of these suburbs but Geelong Shire has changed over just about all its couniclors of recent and the new ones are keen to change the stigma of some of the suburbs as well as wanting it to really become the second major CBD outside of Melbourne

Jezza

Thanks Jezza! :)

My reason for Norlane was cash-flow so yeah price, as you mentioned. Also it was near enough to the beach and it wasn't far from Geelong - which I particularly like as I share your thoughts on the area. I'm looking to get my second IP at some late stage of this year (first IP Frankston North). With your comments and those of the others, as well as further research, Norlane seems a little bit too unpredictable. I am however as I said particularly fond of Geelong and/or surrounding areas (maybe Hamlyn Heights as mentioned in another thread - thanks Mystery for going down that path :)).

I love living in Rowville and I would love to buy here but my only concern is the fact there is no train-line even though there's been talk of it for over 30 years - according to my old man, I'm not 30 yet.
 
Hi Donners,

You can do a drive around Norlane and get a pretty good feel for it.
Some of it seems a bit down and out, but then some parts are lovely little cottages begging for a reno!

Cheers, Medine
 
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