The best investment opportunities can often be found right in your own backyard.
That’s the view of The Property Shop’s principal, Hugh Bateman, who believes the Mudgee region is one of the most under-rated property markets in New South Wales.
“Many investors tend to focus on capital cities and the coastal region,” he said.
“But with prices of real estate, particularly in the Sydney market, sitting high in comparison to many other areas, investors who ignore regional New South Wales are missing opportunities to buy affordably with strong growth prospects.”
Hugh pointed out that many of the best investment opportunities can be found in regions like Mudgee.
“It is generally accepted that the ideal investment location is a regional centre with a diverse economy: a centre for which resources spending is a bonus. Mudgee is the epitome of that investment location,” he said.
In relation to this, Hugh is urging the local council to take advantage of the Federal Government’s support for redirection of financial resources to the regions, a key requirement of the Independents when the Labor government was being formed.
“It is still not evident which areas will benefit from this regional infrastructure spending,” he said.
“However, it’s important to put our hand out for worthwhile projects.
“For example, multi-billion dollar developments projected in the mining industry in the region should not be underestimated.
“Other projects such as a university extension would be ideal. Courses in mining or agriculture would be well supported by the whole region.
“We need to gain both Federal and State Government support in further projects in this area.”