Traralgon, Sale, Morwell in VIC - any experience?
- Thread starter eyogina
- Start date
I have a few houses in that area. They all seem to be doing just fine, but I did look at quite a few before picking the ones I bought. There are very good deals and very bad deals if you look long enough. I was basically after negatively geared but cashflow positive (after depreciation) kinds of houses, obviously grabbing any cashflow positive ones if I could find them. There is some long term furnished house rental to the oil rig companies in Sale, plus you have the RAAF base there providing lots of relatively well paid tenants for you. Both Traralgon and Sale have parts where you probably shouldn't buy unless you like problem tenants, but that's the same with any town. Do your research.
units4me - did the hotspotting report touch upon the region's dependancy on coal power generation?
If future governments act to move coal over to nuclear to any extent these towns may suffer as they are very dependent on very old (in many cases - i.e. Hazelwood - way past their lifespan) powerstations getting lifespan extensions.
If future governments act to move coal over to nuclear to any extent these towns may suffer as they are very dependent on very old (in many cases - i.e. Hazelwood - way past their lifespan) powerstations getting lifespan extensions.
Brown coal power generation is here to stay, like it or not. Even if by some miracle the gov went down the nuclear path, then they would most likely go into the Latrobe valley anyhow. Due to proximity it transmission assets (including Basslink) and an abundent water supply
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Traralgon has been named on a hotspot shortlist for good reasons, namely many billions of dollars in future projects in power generation, clean coal projects, coal to diesel etc.
I lived through the power station construction boom years of the 70s and 80s in Traralgon and the streets were literally awash with money. Still are now, to a degree, Traralgon is a fairly wealthy town, but good times are on the horizon again.
BTW cashflow positve is very difficult to acheive anywhere these days.
.Traralgon has been named on a hotspot shortlist for good reasons, namely many billions of dollars in future projects in power generation, clean coal projects, coal to diesel etc.
I lived through the power station construction boom years of the 70s and 80s in Traralgon and the streets were literally awash with money. Still are now, to a degree, Traralgon is a fairly wealthy town, but good times are on the horizon again.
BTW cashflow positve is very difficult to acheive anywhere these days.
Also, from ABC online today.....
The Latrobe Valley is being touted as one of Australia's leading locations for property investment and development.
The director of hotspotting.com.au, Terry Ryder, says affordability and upgraded road and rail links to Melbourne are major assets for the region.
Mr Ryder says large-scale project developments in the energy sector will be the biggest drawcard in the medium term.
He has described the level of fear of the financial crisis in Australia as overstated, and is predicting it will prove irrelevant to the future success of the Latrobe Valley.
"There's certainly a lot of interest from property developers to develop different types of real estate, not just new housing, but also new shopping centres, and the biggest office building that Traralgon's ever seen, if it proceeds, and already I think that the Latrobe Valley is the basis for a number of very major operations that might surprise people," he said.
The Latrobe Valley is being touted as one of Australia's leading locations for property investment and development.
The director of hotspotting.com.au, Terry Ryder, says affordability and upgraded road and rail links to Melbourne are major assets for the region.
Mr Ryder says large-scale project developments in the energy sector will be the biggest drawcard in the medium term.
He has described the level of fear of the financial crisis in Australia as overstated, and is predicting it will prove irrelevant to the future success of the Latrobe Valley.
"There's certainly a lot of interest from property developers to develop different types of real estate, not just new housing, but also new shopping centres, and the biggest office building that Traralgon's ever seen, if it proceeds, and already I think that the Latrobe Valley is the basis for a number of very major operations that might surprise people," he said.
Just came home after 4 days in Traralgon.
Driving around the area shows a lot of new building both commercial & residential.
http://latrobevalley.yourguide.com....al/victory-for-tower-development/1341514.aspx
Gerd
Driving around the area shows a lot of new building both commercial & residential.
http://latrobevalley.yourguide.com....al/victory-for-tower-development/1341514.aspx
Gerd
And here's another office building announcement.
Major development for Hotham Street
24/11/2008 9:05:00 AM
A STRIP along Hotham Street in Traralgon will undergo major development to turn it into new business offices and retail premises.
Latrobe Regional Development Group (LRDG) has announced plans for the future development which will adjoin the multi-storey Seymour Street car park.
LRDG director Leo Di Fabrizio said the company had purchased three commercial properties in Hotham Street and had started planning to build a multi-storey complex.
Mr Di Fabrizio said he had ``great faith and confidence'' in Traralgon.
``It is a vibrant precinct and despite tough economic times it continues to stand out from other regional centres by continuing to grow and develop,'' he said.
The site was purchased directly from the O'Neill family of Traralgon.
``LRDG plans to add vigour to the east end of Hotham Street and bring it up to the commercially productive standard as other areas of the CBD,'' Mr Di Fabrizio said.
``As with the car park complex, the architecture of the development will be an important factor which will focus on adding value to the community by providing a quality retail/office precinct and streetscape that enhances the aesthetics of the local area.''
Mr Di Fabrizio credited decisions that have been made by Latrobe City Council for Traralgon's continued growth.
``If it wasn't for the those individuals who are willing to take on commercial risk we would be standing still or worse still, heading backwards as so many other regional communities do,'' he said.
Mr Di Fabrizio predicted over the next three years, local developers would invest about $90 million in Traralgon.
``Together with the proposed future energy projects, capital investment in Traralgon could hit the $1 billion mark creating an even stronger and more vibrant future for Latrobe City.''
Mr Di Fabrizio said other local developers were also making an active contribution to the town's growth.
``My economic theory for commercial development is simple, for every $1 in capital investment within a community you see a direct and indirect $3 benefit to the local economy,'' he said.
Mr Di Fabrizio described the confidence in development and the effect it has had on housing and liveability as ``almost unprecedented''.
``We are fortunate that developers see this area for what it is and want it to grow for the advantage of all,'' he said.
``At the end of the day it's about adding real value and continuing to build Traralgon and the greater Latrobe region and I look forward to continuing to invest in the future of Traralgon.''
Major development for Hotham Street
24/11/2008 9:05:00 AM
A STRIP along Hotham Street in Traralgon will undergo major development to turn it into new business offices and retail premises.
Latrobe Regional Development Group (LRDG) has announced plans for the future development which will adjoin the multi-storey Seymour Street car park.
LRDG director Leo Di Fabrizio said the company had purchased three commercial properties in Hotham Street and had started planning to build a multi-storey complex.
Mr Di Fabrizio said he had ``great faith and confidence'' in Traralgon.
``It is a vibrant precinct and despite tough economic times it continues to stand out from other regional centres by continuing to grow and develop,'' he said.
The site was purchased directly from the O'Neill family of Traralgon.
``LRDG plans to add vigour to the east end of Hotham Street and bring it up to the commercially productive standard as other areas of the CBD,'' Mr Di Fabrizio said.
``As with the car park complex, the architecture of the development will be an important factor which will focus on adding value to the community by providing a quality retail/office precinct and streetscape that enhances the aesthetics of the local area.''
Mr Di Fabrizio credited decisions that have been made by Latrobe City Council for Traralgon's continued growth.
``If it wasn't for the those individuals who are willing to take on commercial risk we would be standing still or worse still, heading backwards as so many other regional communities do,'' he said.
Mr Di Fabrizio predicted over the next three years, local developers would invest about $90 million in Traralgon.
``Together with the proposed future energy projects, capital investment in Traralgon could hit the $1 billion mark creating an even stronger and more vibrant future for Latrobe City.''
Mr Di Fabrizio said other local developers were also making an active contribution to the town's growth.
``My economic theory for commercial development is simple, for every $1 in capital investment within a community you see a direct and indirect $3 benefit to the local economy,'' he said.
Mr Di Fabrizio described the confidence in development and the effect it has had on housing and liveability as ``almost unprecedented''.
``We are fortunate that developers see this area for what it is and want it to grow for the advantage of all,'' he said.
``At the end of the day it's about adding real value and continuing to build Traralgon and the greater Latrobe region and I look forward to continuing to invest in the future of Traralgon.''
Hmmmmmmm.
I maybe wasting my time with this thread as the original poster has a total of 1 post (this one) and it was a month ago. No further discussion or gratitude to any replies but here's my 2 bobs worth.
My brother inlaw has had a couple of properties in Traralgon and was (I say was as he's moved into a much higher league now) quite happy. I also have a client who has 2 houses in the area and he's a big fan of the place.
I drive through there 2-3 times a year on my way to Lakes etc for my fishing fix and must say the place seems to be continually growing.
I maybe wasting my time with this thread as the original poster has a total of 1 post (this one) and it was a month ago. No further discussion or gratitude to any replies but here's my 2 bobs worth.
My brother inlaw has had a couple of properties in Traralgon and was (I say was as he's moved into a much higher league now) quite happy. I also have a client who has 2 houses in the area and he's a big fan of the place.
I drive through there 2-3 times a year on my way to Lakes etc for my fishing fix and must say the place seems to be continually growing.
Did my research of these towns over a year ago and although I have not visited, the numbers stacked up well. There were FAR too many positives as to the start prices at the low end of the market, so I kept on digging. APPARENTLY, whether this is true or not, the power plants etc. near MOE/Churchill are causing higher rates of cancer than normal. I would like to see a scientific/valid report on this to confirm, and I have not. But seriously, fairly close to Melbourne, as people have mentioned, visually noticeable growth, lowish entry costs, it should be a good buy...
I may yet invest here very soon...
I may yet invest here very soon...
The place apears to be gowing ahead quite quickly.
THERE are fears the Latrobe Valley may not have enough land to accommodate a population surge predicted within the next decade.
One million people are expected to move to regional areas by 2020 because of massive traffic issues and population growth in Melbourne, according to the Victorian Government.
Prior to the review of Latrobe's structure plans, it was thought land for residential development in Traralgon in particular, would run out in three years.
http://latrobevalley.yourguide.com....eral/growing-dilemma/1371631.aspx?storypage=0
I'll be going down to Traralgon for a few days & take in the show.
The Traralgon and District Agricultural Society is hard at work putting the finishing touches in place for tomorrow's show which includes horse events, farm animals, fireworks, food stalls, art and craft displays, woodchopping, pigeons and a 'Miss Showgirl' competition open to four age groups.
This year marks the show's 120th anniversary.
The event at the Traralgon Showgrounds runs from 8.30am Friday and Saturday.
Gerd
THERE are fears the Latrobe Valley may not have enough land to accommodate a population surge predicted within the next decade.
One million people are expected to move to regional areas by 2020 because of massive traffic issues and population growth in Melbourne, according to the Victorian Government.
Prior to the review of Latrobe's structure plans, it was thought land for residential development in Traralgon in particular, would run out in three years.
http://latrobevalley.yourguide.com....eral/growing-dilemma/1371631.aspx?storypage=0
I'll be going down to Traralgon for a few days & take in the show.
The Traralgon and District Agricultural Society is hard at work putting the finishing touches in place for tomorrow's show which includes horse events, farm animals, fireworks, food stalls, art and craft displays, woodchopping, pigeons and a 'Miss Showgirl' competition open to four age groups.
This year marks the show's 120th anniversary.
The event at the Traralgon Showgrounds runs from 8.30am Friday and Saturday.
Gerd
Update on Fertiliser project
Mr Blood said the success in Germany had opened the scope ``for a whole number of industries'' in the Latrobe Valley.
``It gives Latrobe Valley people the knowledge that their coal can be used for a whole new range of manufacturing industries where a low emission outcome is required,'' he said.
``It makes Latrobe Valley a potential home for a number of activities and social benefits.
``The full-time jobs created will be about 180, but multiply this by five times for the rest of the local community.''
http://latrobevalley.yourguide.com....to-spawn-jobs-growth/1377879.aspx?storypage=0
Gerd
Mr Blood said the success in Germany had opened the scope ``for a whole number of industries'' in the Latrobe Valley.
``It gives Latrobe Valley people the knowledge that their coal can be used for a whole new range of manufacturing industries where a low emission outcome is required,'' he said.
``It makes Latrobe Valley a potential home for a number of activities and social benefits.
``The full-time jobs created will be about 180, but multiply this by five times for the rest of the local community.''
http://latrobevalley.yourguide.com....to-spawn-jobs-growth/1377879.aspx?storypage=0
Gerd
In comparison to Melbourne, I refuse to believe that there is anywhere in Victoria more polluted/carcinogenic than Melbourne.
Loy Yang - Traralgon and Clean Coal
The real value of Traralogon is the coal in surrounding areas and potenital to turn that coal into energy. The Monash Project that looks set to start turning coal into fuel in 3-4 years time at a time where petrol prices will be back on the up and up is of huge impact on the area as one would have to think that the electricity plant would be under ongoing pressure due to its carbon impact.
If your thinking of investing in this area you would be well served reading up on both the electrical plant and on the Monash Project, Coal to Gas, and Urea (fertiliser), and get to know a bit about its industry.
Churchill (with the University 6.3% rental yield) and Traralgon (with lower rental yield than Morwell or Churchill but much better growth and closer proximity to the action) seem to be the pick of the area for my mind.
Growth appairs to be slowing now but I'd expect there to be a big jump in the lead up to the $5 Billion coal-to-oil project starts producing 70,000 barrels of oil a day round 2012.
The real value of Traralogon is the coal in surrounding areas and potenital to turn that coal into energy. The Monash Project that looks set to start turning coal into fuel in 3-4 years time at a time where petrol prices will be back on the up and up is of huge impact on the area as one would have to think that the electricity plant would be under ongoing pressure due to its carbon impact.
If your thinking of investing in this area you would be well served reading up on both the electrical plant and on the Monash Project, Coal to Gas, and Urea (fertiliser), and get to know a bit about its industry.
Churchill (with the University 6.3% rental yield) and Traralgon (with lower rental yield than Morwell or Churchill but much better growth and closer proximity to the action) seem to be the pick of the area for my mind.
Growth appairs to be slowing now but I'd expect there to be a big jump in the lead up to the $5 Billion coal-to-oil project starts producing 70,000 barrels of oil a day round 2012.
Highway upgrade to begin
BY JANE BLAKELEY
18/12/2008 2:18:00 PM
THE duplication of the Princes Highway from Sale to Traralgon is being fast- tracked with construction now expected to begin in March next year.
The Federal Government has allocated $2.5 million to shift the starting date for construction from mid 2010 as previously planned.
The funding is part of a $4.7 billion `nation building' package announced by the Federal Government last Friday.
Prime Minister Kevin Rudd said the aim of the package was to strengthen the struggling Australian economy and create jobs.
The Federal Government has committed $140 million to the $220 million Princes Highway duplication project between the two towns.
The project will upgrade the Princes Highway to a four lane, two carriageway freeway for 44km of road between between Traralgon, Rosedale and Sale.
The aim of the project is to boost freight capacity, reduce transit time and improve traffic flows.
The duplication will also reduce the number and severity of accidents by enabling safer overtaking, improved amenities and making travel on the highway more reliable.
The Federal Government estimates construction will be completed by early 2014.
At its peak, the project is expected to employ up to 360 workers on site.
Nationals MHR for Gippsland Darren Chester said while he welcomed the funding, he wanted to see the government release more of the $140 million allocated for the project.
``Really $2.5 million is just a down payment on the 140 million promised...it's a really small amount of money,'' he said.
``It will be welcomed by many that they're bringing the project forward but there's still more than $137 million to go.''
Wellington Shire mayor Darren McCubbin said the acceleration of the works was welcome news.
``It's a tremendous opportunity to bring Wellington Shire closer to Melbourne and to make it easier for people to travel here for business and tourism,'' he said.
``Our ability to get our freight to Melbourne easier will be a welcome improvement and I'd like to see the Federal Government put more resources into roads and into public transport as well.
``It'll be a big issue in our council term to improve transport connectivity for the region.''
Gerd
BY JANE BLAKELEY
18/12/2008 2:18:00 PM
THE duplication of the Princes Highway from Sale to Traralgon is being fast- tracked with construction now expected to begin in March next year.
The Federal Government has allocated $2.5 million to shift the starting date for construction from mid 2010 as previously planned.
The funding is part of a $4.7 billion `nation building' package announced by the Federal Government last Friday.
Prime Minister Kevin Rudd said the aim of the package was to strengthen the struggling Australian economy and create jobs.
The Federal Government has committed $140 million to the $220 million Princes Highway duplication project between the two towns.
The project will upgrade the Princes Highway to a four lane, two carriageway freeway for 44km of road between between Traralgon, Rosedale and Sale.
The aim of the project is to boost freight capacity, reduce transit time and improve traffic flows.
The duplication will also reduce the number and severity of accidents by enabling safer overtaking, improved amenities and making travel on the highway more reliable.
The Federal Government estimates construction will be completed by early 2014.
At its peak, the project is expected to employ up to 360 workers on site.
Nationals MHR for Gippsland Darren Chester said while he welcomed the funding, he wanted to see the government release more of the $140 million allocated for the project.
``Really $2.5 million is just a down payment on the 140 million promised...it's a really small amount of money,'' he said.
``It will be welcomed by many that they're bringing the project forward but there's still more than $137 million to go.''
Wellington Shire mayor Darren McCubbin said the acceleration of the works was welcome news.
``It's a tremendous opportunity to bring Wellington Shire closer to Melbourne and to make it easier for people to travel here for business and tourism,'' he said.
``Our ability to get our freight to Melbourne easier will be a welcome improvement and I'd like to see the Federal Government put more resources into roads and into public transport as well.
``It'll be a big issue in our council term to improve transport connectivity for the region.''
Gerd
