Morwell

5.7% yield is cashflow-positive at 6.5% rate and improves as rent grows at +5.5%pa. Keppel data centre catalyst is literally next door: Morwell is the primary accommodation suburb for the construction workforce. New build lots available at <$420k all-in, still NG-eligible under budget rules.

Longer DOM (~105d) than Moe; area reputation requires street-level research; some social housing pockets to avoid; coal plant closure transition risk to employment base.

5.7% yield improving as rent growth (+5.5%pa) outpaces price growth. New builds retain unlimited NG eligibility. One-year grace window protects existing investors. Indexation on CGT suits 7–10yr hold.