Query regarding Investing in Moe, Morwell, etc.

[cgj1981]

I was just wondering what peoples experiences are, thoughts on or information heard regarding investing in Moe, Morwell, Traralgon, etc. ?

I would love to know especially what rentals per week people received or can expect to receive for 2 - 4 bedroom homes and the nanture of the tenants and any problems and tips in relation to them ?

Thanks,

CJ

 

[geoffw]

I don't know the area personally.

I know that one person bought a block of flats in the area a few years back, and did a reno- returning something like 30%.

At that stage, the area was a dog. People were moving out, and there were no growth prospects.

I've heard better reports since, to the effect that there has been good growth, but have not investigated.

 

[Mondie]

Hi,

l live in Sale and so are quite familiar with the areas you ask about. l would think that medium term Moe may be a good place to invest as it is coming off such a low base. The city is creeping ever towards the valley and is already starting to have a strong influence on Warragul.

Traralgon is growing fairly healthily, prices there still seem reasonable when compared to Sale. Here prices are dictated largely by the very strong rental market driven by the local RAAF base. Talk is that the planned expansion of the base here may not go ahead so prices may soften. l think that would make Sale a good place to buy a rental property as its a very tight rental market even without the planned expansion that hasnt actually brought any additional peolpe to Sale as yet. Rumours going around that Pearce RAAF base in Perth (where pilots are trained) may close in the next 5 -10 years and move to Sale. If that happens then the hopusing situation in Sale will be horrendous and so returns good.

We just bought into a development in Lakes Entrance called "One The Esplanade" May be one to consider if you like mananged apartments. Its a huge 85 apartment complex thats really going to put LE on the map.

Good luck,
Mondie.

It would be one to consider.