views on buying IP in Ballarat vs Hobart

[zi974]

Hi all,

I am a long term reader of this very informative forum (thanks all) however its my first posting.

I am looking for an IP pref 3 brm house 250k-285K with aim for reasonable capital growth over 10 yrs and off course rental yeild (am ok if its not +ve cash flow). Am currently tossing b/w suburbs within 10K Hobart eg Glenorchy, west Moonah OR Ballarat.

Appreciate some thoughts from others who may have or are looking along the similar lines. I am also open for other suggestions in this price range. Thanks in advance.

 

[RedCat]

I spent some time in Ballarat recently and it seemed like a great place to bring up a family. Everything you need is there.

I don't know much about Hobart, but I believe population is declining?

If it was my money, I'd be going for Ballarat but be prepared to act fast if you decide to go that way. Lots of good stock is only on the market for a few days before being snapped up

 

[jacbmw]

No, i dont think it is correct that the population is declining in Hobart, but I do think that there is some political instability there at the moment, and think economically it will be pretty stagnate the next few years (prob 5). Only real development in state is (possibly, prob. 30% at best chance of going ahead) is in the north of state.

An exception to the flat market would possibly be warrane (less than 10 min drive to city, on the eastern shore). This suburb is tranisition nicely from HC, and has great transport and schools... 3 bed. with good land will be under $250k easy, with $300pw rentals...

 

[jacbmw]

oh, I am not investing any more in Tas. but instead looking to newcastle/hunter valley area

 

[zi974]

Thanks for your comments