Wellington nsw

I thought it was a pretty nice looking town

Can't comment on anything else though

Why there? Is it because of some sort of mining? If its coal mining then i would bE careful.
If not then I think there are plenty of other cheap towns in Australia with better growth prospects
 
At the turn of this millenium, in my early 20s, when I used to live in Dubbo, I used to cycle from Dubbo to Wellington, had lunch there in their single convenience store or petrol station and then cycle back to Dubbo in the afternoon. Children there seemed astonished to see anyone from out of town. The regular bogans sat outside the pub drinking VBs at midday as is typical of any rural town. It was a great pitstop for a lone cyclist but certainly not a place for property accumulation.
 
My two cents worth :)

The wife and I recently drove through Wellington during a major tour of Central West NSW, looking for cash flow positive properties (there's a lot out there but you have to spend a lot of time on the road). We spent about an hour driving around town, and past the properties advertised for sale on the web. Our overwhelming impression was that it didn't seem to be a particularly welcoming town, and driving past houses with people sitting on the verandah staring at you as if you'd come from outer space, doesn't help the impression :D Having said that if you chose carefully you may well do OK, but you'd definitely need to do the due diligence.

Anyway in our case we decided to look elsewhere - the majority of Western NSW towns are very welcoming and have a much better "feel" to them than Wellington IMHO.
 
Can anyone else suggest other towns to investigate en-route.

Thanks

As mentioned above Wellington has it's social issues like all towns but probably more than most. The jail in town is a good employer but most other industries are getting sucked into Dubbo. Although with tight rental market in Dubbo that may spill over to wellington and Narromine.
If you are looking for yield i would look at Cobar, the mine out heir still has a long way to go it seems.
 
Narromine and Cobar

We have properties in both of these centers. They've done very well over the past few years. No plans to sell. Yields excellent, good tenants, very little turn over. Cobar is strong on the back of mining while Narromine is strong on the back of Dubbo's growth. No complaints here. Cheers Bullfrog
 
Thank-you for the advice party people!!

Went to Wellington,i just couldnt see enough industry/future prospects for me to invest there.

On the way back stopped off in Lithgow(Currently investigating)!
 
When I invested in similar areas all I cared about were amount of centrelink customers - after all Centrelink is paying the rent.
I did very well for both cash positive AND cap growth in Orange with a single dad as a tenant

Since Wellington is well known as the single mum capital of NSW I think you would find excellent steady tenants. Good luck.
 
Looking up to 220k.

Its a cash investment for cashflow during retirement(Which is imenent)

Would be happy to reno Kitchen,Bathroom,paint etc...

I just couldnt see the future demand in wellington to invest my funds there,perhaps if i were younger and could tolerate the risk.
 
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