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Are ex-commission houses worthy investments?

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Your Investment Property | 12 Apr 2012, 12:00 AM Agree 0
We’re looking to get an investment property and are thinking Warrnambool, Vic. Some houses there are ex-commission selling at a cheaper rate. They’re in decent knick, but I worry that the value will be stagnant compared to other houses in the area. Can these types of houses be good investments?
  • Fiona | 12 Apr 2012, 08:08 PM Agree 0
    I live outside Ballarat, and have been happily buying investment proerties there for the last 4 years: Rents are good because the university brings students who need accommodation. Vacancy rate of 1%.
    I renovate old houses and then rent them out at a premium by the room to students, one house rented to a family would bring me $380 a week tops, as a student house I get $600 a week. But I self manage it.
    woiould love to keep buying, but I like to keep the equity fairly high in unstable times. There is nothing wrong with regional areas, houses are cheaper, so the more the merrier!
  • Ian | 20 Dec 2013, 07:51 PM Agree 0
    Im curious about buying a non strata block of apartments. Where or who should I source to help with that?
  • Ian | 21 Dec 2013, 02:06 PM Agree 0
    Hello I hope you maybe able to assist me. Im in the process of looking to buy a non-strata block of units as a long term investment. I was wondering if you could suggest the best way of sourcing what is available out there.
    Im also a builder and am interested in ex housing commission properties to re develop. Do you have any suggestions? Any advice would be greatly appreciated.
    Regards and many thanks.
  • Belita | 01 Aug 2014, 09:56 PM Agree 0
    I bought 4 properties from the ex-Housing Commission and I don't regret it a bit. They have always been rented, good yields and the area is not that bad any more, since new owners moved in... They won't increase in value but they are solid and I don't intend to sell. So far, so good.... Cheers!
  • Steve | 05 Aug 2014, 09:32 AM Agree 0
    Hi Belita, just wondering how you managed to buy 4 properties from housing commission ? I am thinking in the same lines but don't know how to approach, any idea would be hugely appreciated.
    • Belita | 05 Jul 2015, 09:39 AM Agree 0
      Hi Steve, being an architect I recognize the ex-housing commission style (brick veneer and tiled roof). I bought in teh Central Coast of NSW in 2010 when Kristina Keneally was Premier and had to sell a few to pay builders to build more Department of Housing units. Once you buy the first, the Agent will let you know when more come up for sale or auction. The prices were then between 200,000 and 250,000 each. The good thing is that if you are in difficulty, you can always sell one. It is easier to sell a house for 1/4 of a million than for a million, because you reach a wider range of buyers. Good luck!
  • Dick the rent man | 20 Jan 2016, 07:00 PM Agree 0
    Buying in any city over priced big time ,I can get 6.5 to 7% yield in country Vic any day of the week with growth,,,
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