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Rising rents and increased mining activity are luring investors to Dubbo, new research by PRDnationwide has found
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INVESTORS EYE DUBBO PROPERTY MARKET
RISING RENTS and increased mining activity are luring investors to Dubbo, new research by PRDnationwide has found.
According to PRDnationwide research analyst Oded Reuveni-Etzioni, there has been a recent drop in the number of properties listed for sale, which is in turn fuelling demand.
In the 180 days to the end of January 2012 there were 249 houses on the market – almost half the usual number.
“Dubbo is about to enter an exciting time with a lot of new development about to come on,” said PRDnationwide Dubbo principal, Peter Whalan.
“Dubbo is well placed to cope with any increase in growth, with new land releases including The Outlook, Delroy Park – consisting of 400 blocks ready to come on to the market – and two other estates to release building blocks.
“Other big new releases soon to be announced will set Dubbo up for the place to be.”
Mr Whalan said smaller towns like Mudgee that are finding it difficult to cope with the mining population growth are now looking at Dubbo because of its infrastructure.
The researcher said strong employment prospects exist in Dubbo and surrounding towns and a newly-gazetted Local Environment Plan creates greater investment certainty for developers, with many more residential lots expected to be released in 2012.
“Despite softer economic conditions in Australia and overseas, the Dubbo region has been benefiting from strong investment,” Mr Whalan said.
LOW INCOME NOT A BARRIER TO PROPERTY INVESTMENT
LOWER INCOME earners should look to property as an investment even more than those on higher salaries, according to a leading investment group.
Investment properties are an ideal path to financial security for the average Australian, according to Neil Smoli, managing director of Aviate Group.
“Obviously, the need for security is critical, which is why as an investment class residential property has proven successful for so many Australians,” Mr Smoli said.
Many investors overestimate the entry level price for a decent investment, Mr Smoli said.
RP Data statistics indicate that properties can still be found for under $200,000 with decent returns.
Units in Brisbane’s Bellara, with a median price of $115,180, reported a 12 per cent yield, while Wellington in NSW, with a median price for houses of $100,000, had a nine per cent yield.
regional roundup
Investors eye Dubbo property market
Rising rents and increased mining activity are luring investors to Dubbo, new research by PRDnationwide has found.
According to PRDnationwide research analyst Oded Reuveni-Etzioni, there has been a recent drop in the number of properties listed for sale, which is in turn fuelling demand.
In the 180 days to the end of January 2012 there were 249 houses on the market – almost half the usual number.
“Dubbo is about to enter an exciting time with a lot of new development about to come on,” said PRDnationwide Dubbo principal, Peter Whalan.
“Dubbo is well placed to cope with any increase in growth, with new land releases including The Outlook, Delroy Park – consisting of 400 blocks ready to come on to the market – and two other estates to release building blocks.
“Other big new releases soon to be announced will set Dubbo up for the place to be.”
Mr Whalan said smaller towns like Mudgee that are finding it difficult to cope with the mining population growth are now looking at Dubbo because of its infrastructure.
The researcher said strong employment prospects exist in Dubbo and surrounding towns and a newly-gazetted Local Environment Plan creates greater investment certainty for developers, with many more residential lots expected to be released in 2012.
“Despite softer economic conditions in Australia and overseas, the Dubbo region has been benefiting from strong investment,” Mr Whalan said.
Low income not a barrier to property investment
Lower income earners should look to property as an investment even more than those on higher salaries, according to a leading investment group.
Investment properties are an ideal path to financial security for the average Australian, according to Neil Smoli, managing director of Aviate Group.
“Obviously, the need for security is critical, which is why as an investment class residential property has proven successful for so many Australians,” Mr Smoli said.
Many investors overestimate the entry level price for a decent investment, Mr Smoli said.
RP Data statistics indicate that properties can still be found for under $200,000 with decent returns.
Units in Brisbane’s Bellara, with a median price of $115,180, reported a 12 per cent yield, while Wellington in NSW, with a median price for houses of $100,000, had a nine per cent yield.
