Land appreciates, buildings don't in Mildura: Herron Todd White

Land appreciates, buildings don't in Mildura: Herron Todd White
Land appreciates, buildings don't in Mildura: Herron Todd White

Units and apartment complexes in Mildura constructed between 1970 and 1990 are seen as a safe, positive cash flow investment, according to Herron Todd White.

Herron Todd White's September Month in Review found apartments and complexes built during period, typically containing three or four attached two bedroom units, 1.5km from the city have strong occupancy rates.

The report noted value movements have tended to be lower for attached units than for detached housing, although increasing rents and decreasing interest rates have made their yield more attractive in recent times.

"Some complexes are held under an Owner Corporation structure, while others are not and our advice to owners has been that it is probably not worth strata titling those complexes still on a single title, as these complexes are quite affordable for investors, typically selling for between $300,000 and $500,000," the report said. 

"There are still opportunities to refurbish some of the older unit complexes with the benefit of then generating higher rents and reduced maintenance costs."

 

Michael Crawford

Michael Crawford

Michael is the real estate reporter for western Sydney and loves writing about homes and the people who live in them. A former production editor and news journalist, he enjoys writing about real-world property purchases as well as aspirational buys and builds. Following a recent move from Sydney’s northern beaches, Michael now actually enjoys commuting.

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Apartments Investment Property

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