I'm considering an IP or possibly two in Mildura. I know it's capital growth prospects aren't great, yadda yadda, but I'm only really interested in yields. It's population isn't declining and CF+ properties can be picked up for less than their replacement value, which is good enough for me.
I've never actually been to Mildura. I'm planning to spend a day or two looking at properties but mostly just getting a feel for the place.
For those familiar with the area, any recommendations on what I should see and do in Mildura to get a general feel?
Firstly, Enjoy.
I know of folks having had relatively long term investments in Mildura have built themselves nice nest eggs that have been accruing equity. The drought (which hit most of Victoria, many parts of Australia) did hit hard for the fruit growers, yet, from that comes opportunity.
Mildura is similar to the likes of Bendigo, Ballarat, Horsham, Shepparton it is the far north west State 'catchment' city. Like other regional cities of Victoria it has it's ebbs and flows, but pushes on solidly regardless. If you would like Victorian Valuer General stats (relatively longterm) growth figures just send me a PM, more than happy to share with you, copyright (I cheekily asked the VG office
) prevents me from putting the lot up publically.
Mildura, the Sunraysia area has a rich and long
history.
If you truly want to get a feel for what it was built upon, it's later history after it's early, original Indigenous history, the locks and weirs, the
Chaffey Trail
If you have time
any chance you head out to Meringur, via Lake Cullulleraine, through Werrimull on toward Meringur for
Millewa Pioneer Park look around. It is as if the 'settlers' have stepped out for lunch, time stood still, a pioneer settlement, constructed lovingly, accurately by volunteers over years to give people an experience of what it was like in early settlement. If you have kids it's likely they will love the fun and education of it too, much of it can be interactive in it's own way.
The other thing that gives a great sense of the area is a river boat cruise, you can choose how you want to go about this, but keeping in mind the river is the lifeblood of the area it gives a great sense understanding it's importance.
From here:
http://www.visitmildura.com.au/discover-mildura-by-boat.html
From memory the paddlesteamer 'Melbourne' still runs short trips if you don't want to be tied up on the water too long.
The Chaffey Trail
As Yman touched upon, take camera! :
Mungo National Park
But it might be getting too much, too far to pack into a few days, sorry if I have doubled up places. The river front at the city (Mildura), is about to get a face lift, loooong time coming, was going to give a good shake for a casino but change of State political power knocked that on the head, at least the river front will still get a makeover, it's a gorgeous area to improve upon, can you tell I am a big fan of water.
I think your investments will take care of themselves, (my family tried to stick to relatively close to the cbd-ish), they tend to see the good solid growth as opposed to buying land blocks further out, (split up old grape vine blocks) and constructions, they kinda take time to get momentum.
Have fun. The place is spread out, the streets numbered like New York, ie 8th, 9th, 10th street wise, so you mind find that relatively easy to navigate by.
