Could Ararat avoid the risks of regional areas and achieve the sort of growth that Ballarat experienced.
Ararat Rural City is a versatile primary production area famous for its premium viticulture and wine industry, quality merino wool, and cropping and manufacturing industries. Ararat Rural City forms a “gateway” to important tourism destinations such as the Grampians Ranges, Pyrenees Ranges, Mt Langi Ghiran, Mt Cole and Lake Bolac. Ararat (pop. 7,500) is the district retail hub and is located 200 kilometres west of Melbourne on the Western Highway at the junction of several major highways.
Pros - Key train station between melbourne and adelaide and recent increases in services to both cities, Gateway to Grampians National Park, more than $500 million worth of private and government projects planned over the next four years, Hospitals and Schools, Historic Chinese settlement and Gold Rush town, World class wineries and On the Green music festival. Population is generally happy and healthy. Population growth around 3%.
High rental return on investment properties some as high as 8%
Large house and land for under $80,000 - 150,000.
Family households are mostly sole parent. (30% vs 23% dual parent)
Although prices slipped over the past 12 month by about 5% has been know for periods of rapid growth - between 2002 and 2005 experienced a big jump in capital growth with Median price increasing from $80,000 to 150,000.
I am starting to look at investment properties in the area anyone else have some ideas and opinions, or care to play the devils advocate?
Ararat Rural City is a versatile primary production area famous for its premium viticulture and wine industry, quality merino wool, and cropping and manufacturing industries. Ararat Rural City forms a “gateway” to important tourism destinations such as the Grampians Ranges, Pyrenees Ranges, Mt Langi Ghiran, Mt Cole and Lake Bolac. Ararat (pop. 7,500) is the district retail hub and is located 200 kilometres west of Melbourne on the Western Highway at the junction of several major highways.
Pros - Key train station between melbourne and adelaide and recent increases in services to both cities, Gateway to Grampians National Park, more than $500 million worth of private and government projects planned over the next four years, Hospitals and Schools, Historic Chinese settlement and Gold Rush town, World class wineries and On the Green music festival. Population is generally happy and healthy. Population growth around 3%.
High rental return on investment properties some as high as 8%
Large house and land for under $80,000 - 150,000.
Family households are mostly sole parent. (30% vs 23% dual parent)
Although prices slipped over the past 12 month by about 5% has been know for periods of rapid growth - between 2002 and 2005 experienced a big jump in capital growth with Median price increasing from $80,000 to 150,000.
I am starting to look at investment properties in the area anyone else have some ideas and opinions, or care to play the devils advocate?