Ep. 332: Why Smart Investors Are Quietly Moving Back Into Victoria, with Lachlan O'Connell

In this episode of Geared for Growth, Mike Mortlock is joined by Lachlan O'Connell, buyers agent and owner of O’Connell Buyers Advocate. Victoria hasn’t exactly been the investor darling in recent years. With rising land taxes, tighter regulations, and stronger performance elsewhere, many wrote it off entirely. But beneath the surface, something very different has been unfolding. Lachlan brings a boots-on-the-ground perspective from Ballarat—where demand is rising, competition is heating up, and the definition of a “good deal” has shifted dramatically in just 12 months. This conversation breaks down why some investors are getting it right… while others are unknowingly buying into the wrong pockets, chasing short-term gains at the expense of long-term growth. It’s a timely reminder that in property, not all growth is created equal—and understanding where to buy matters more than ever. In this episode, you’ll learn: Why sub-$500K investment properties have effectively disappeared—and what’s replaced them The concept of “markets within markets” (and how it can make or break your investment) Why owner-occupier demand is the hidden driver of long-term capital growth The difference between Ballarat and Geelong—and which suits different investor profiles Where vacancy risks are quietly emerging despite a rental crisis How interstate investors are unintentionally skewing market data Why buying “what looks good on paper” can backfire The price point where competition drops—and opportunity begins How global uncertainty is creating short-term buying windows The mindset shift investors need heading into the rest of 2026 LISTEN TO THE EPISODE: Spotify: sptfy.in/56ak Apple Podcasts: https://apple.co/4cWAJRM Website: https://gearedforgrowth.com.au/ Don't miss out on this enriching discussion that could revolutionise your investment journey! 🚀 If you're enjoying the show, subscribe and leave a review to share your feedback and insights. Let's grow together!