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This Might Be The Next Townsville...
Suburbs in Bendigo are trending in the right direction, these suburbs may become the next Townsville & Perth in 12-18 months, only time will tell.
Finding Investment Suburbs For Under 450K
Suburb Details:
Suburb | State | Postcode |
|---|---|---|
Kangaroo Flat | Melbourne | 3555 |
Regional Bendigo is an area which I have covered before, in fact I have written about a suburb “Golden Square” previously. These areas keep popping up on DSR data and may represent the first signs of a recovering market in Melbourne. Kangaroo Flat is a suburb you find right next to Golden Square where the data metrics are starting too look quite positive. There is sentiment that Melbourne is a bad place to invest however when Queensland and Perth are such hot markets naturally you will find good deals in other markets. You will still need to assess whether buying in Melbourne is right for your personal circumstance however if you feel you have missed the boat with Queensland and Perth well this might be the best option for you.
Key Data Metrics
Metric | Actual | Trending |
|---|---|---|
Days On Market | 49 | Trending Down |
Stock On Market | 1.31% | Trending Down |
Vacancy Rate | 0.49% | Flat |
Current Population | 11,328 | - |
Online Interest | 23 | Trending Up |
Vendor Discounting | -2.9% | Flat |
Proportion Of Renters | 28.8% | Flat |
Location & Infrastructure
Kangaroo Flat is a suburb of Bendigo, Victoria, located approximately 5 kilometers southwest of the Bendigo city center. The suburb boasts a well-developed infrastructure that supports a mix of residential, commercial, and recreational facilities. Key amenities include Lansell Square Shopping Centre, which offers a variety of retail stores, supermarkets, and dining options. The area is served by several educational institutions, including Kangaroo Flat Primary School and Crusoe College. Public transport is readily available, with regular bus services connecting Kangaroo Flat to central Bendigo and surrounding suburbs, as well as a train station on the Bendigo line providing access to Melbourne. Healthcare needs are met by local medical clinics and the nearby Bendigo Hospital. Additionally, Kangaroo Flat features numerous parks, sports clubs, and recreational facilities, making it a vibrant and well-connected community for its residents.
Other Important Factors:
Days on market, stock on market, vacancy rate are all trending in the right direction to create price pressure. These trends aren’t as good as what you find in Townsville however it indicates a cooler market that can heat up extremely quickly.
Bendigo is an extremely diversified economy with healthcare, retail, construction and professional work. Compared to other regional areas throughout the country this one of the largest regional hubs that is also extremely close to a capital city.
Despite areas of developable supply there is minimal building approvals this should create strong price pressure in the near future. Interstate migration will also drive prices higher.
The rental yields are poor in Melbourne compared to Townsville and Perth however they are rapidly rising. If you are able to hold the property in negative cashflow for 12-18months you will reap the rewards.
Nearby Major Projects:
Why Buy Under 450K?
The reason I started I looking for properties under $450,000 is because it takes forever to save enough cash for the average worker. With about $45,000 (10% Deposit) and paying Lenders Mortgage Insurance (LMI) you can enter the market today in a regional location. And when you pick the right property in the right location you make some serious equity!
Example Property:
Metric | |
|---|---|
1 Peace Street, Kangaroo Flat, Vic 3555 | |
Purchase Price | $470,000 |
Stamp Duty | ~$25,000 |
10% Deposit | $47,000 |
Expected Rental Price | 450/Week |
Expected Rental Yield | ~4.7% |
*Note: These calculations are purely estimations, but overall numbers will vary depending on your deposit, interest rates and other factors.
Pro’s Of Investing In Kangaroo Flat
Kangaroo Flat is a cool market, you find great under market value deals.
Data metrics fall in the right range and are beginning to follow the right trends of a heating up market.
A number of infrastructure projects happening driving demand up.
Well diversified economy, strong future growth.
Easy access to airport & only 10 minutes to town centre.
Low building approvals.
Con’s Of Investing In Kangaroo Flat
Watch out for flood zones, bushfire zones and airport traffic noise.
Poor rental yields, will be negatively geared, higher stamp duty.
Ultimate Verdict
Kangaroo Flat has robust infrastructure including malls, schools, parks, a station, airports, and highways, offers a liveable and accessible environment. There are under market deals with investment grade properties for $450-500k range which provides great opportunity. Key indicators such as days on market, stock levels, and vacancy rates all at acceptable levels. If you missed out on Townsville and Perth this may be the next location, but do your due diligence 😉
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Disclaimer: The information provided in this article is for educational and informational purposes only. It is not intended as financial, legal, or professional advice. Always do your own research and consult with a qualified professional before making any decisions. The opinions expressed here are solely those of the speaker and do not reflect the opinions or views of any other organization. By using this information, you agree that the creator of this content is not responsible for any financial or other losses you might incur.
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