Buying an Investment Property in Regional Victoria

FareEvader on 09/04/2019 - 11:25

Hey everyone,

I'm looking to buy an investment property (commercial) in regional Victoria.

I've seen a few properties in Shepparton and Bendigo that are within my budget. I already own a commercial property in metro Melbourne and I'm looking to expand further out.

Are regional areas good/bad investments? Does anyone have any experience/knowledge in these regional areas? Are they growth corridors? Where can I find more information about these areas?

Any help/advice would be greatly appreciated.

Cheers!

Financial

Comments

  • 87percent on 09/04/2019 - 12:01
    +1

    i was looking for a place to rent in Horsham, and I was speaking with one of the REA about the market and he was mentioning that if your house isn't fully furnished, you'll be looking for tenants for a while. Look for areas where major projects are occuring (he specifically mentioned the hydroelectric stuff happening) BUT you'll get tenants for 1-2 years and then depending on the project you might get nothing. He also specifically mentioned areas with hospitals as doctors/nurses come through often

  • Hithere on 09/04/2019 - 12:05
    +1

    If you are considering Latrobe Valley, Moe, Morwell etc. there are plenty of budget priced commercial properties available for sale.

    Not a really high growth corridor which is why they are reasonably cheap to purchase.

    I'd suggest contacting a local Estate Agent for more information before visiting the areas.

    • Typical16-bitEnjoyer on 09/04/2019 - 12:23
      +1

      Lol, that is one of the last places in Victoria I'd be recommending someone to purchase commercial property.

      Hazelwood gone, Yallourn to follow. Huge reduction in contractors = heavily reduced demand for commercial property.

      • FareEvader on 09/04/2019 - 12:39

        What's your view on Bendigo/Shepparton?

      • Hithere on 09/04/2019 - 14:13

        Yallourn to follow

        True, but not until the end of 2032 so until then there are, at this stage, no closures or reduction in maintenance contracts planned.

        Low demand for commercial property also means low prices. If OP has their head screwed on properly it's possibly to grab a bargain - not for the faint hearted though lol.

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