Thoughts on Maryborough?

Hi Everyone,

Just wondering if anyone had any thoughts on investing in Maryborough Victoria?

I've been trying to identify some good investment opportunities in rural Victoria and this town seems to tick alot of the boxes.

I'm looking for properties that are around $100k, have a decent yeild and have an opportunity for capital growth.

Maryborough has quite a few properties around the $110k mark, that look like they would tidy up quite nicely. The median house price is $150k, but there are quite a few houses available in the 200-300k bracket as well.

There are new developments going into Maryborough as well, such as coles and kmart.

Does anyone else have any other tips on towns in rural Vic?
 
So no one else has anything to say about this suburb?

I've done some research and as well as the rail services being reinstated, there are also some large retail chains opening up there (kmart, aldi, coles, etc). Seems like not a bad place, might have to go for a drive out there.
 
Like they say about country towns - low price --> high yields --> low growth.

I'm sure it costs more than 100k to even build a new house! Means the land has negative value loool
 
If the big retail chains are moving in thats a positive sign. Those guys do their research.

In general I worry about any of the country towns that are dependent on farming and that are below about 10K population. They struggle to provide the services people require (e.g. doctors) and tend to get hit hard when times are tough.

As a non-local I'd be very thorough about checking out the exact location of any house. Land value in the less pleasant parts of town with be close to zero. If the population isn't growing then there is no competition for rental places meaning everyone has to drop their prices and only the best places get rented. Ex-housing commission areas are usually cheap for a reason, if there isn't a pretty compelling case for capital growth and gentrification.....
 
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