Have continuously started to hear from a variety of sources about Laverton as a good investment suburb. 18 km to CBD and easy access to freeway/Laverton Zone 1 train station. Can take as little as 15 minutes into CBD via freeway.
It is basically the next suburb west after Altona in terms of proximity to City and also still a fraction of the price (low 300, 350k median). Wouldn?t call it a coastal suburb but not very far from coast. Schools and shops also. It seems like the next suburbs over are all increasing in price already but access to city and freeway not as good.
Another interesting thing I?ve noticed is that old homes are now starting to be demolished and quite a few brand new developments have started popping up in the area and the council is pretty keen to rebuild so permits are easily approved. I know this usually takes time but Laverton is not a big area and it shouldn?t take that long for developers to go through the area. Blocks are big enough to subdivide and I often see 2 townhouses going up on a block ? 3 on bigger blocks or corners. Once the number of new properties outweigh the old ones the area will be very appealing to a lot of people.
These new properties are occupied by an upper socio economic employed class and are already selling for up to 400k with decent rental yield. My mortgage broker has recently purchased IPs here and keeps telling me to do the same. Interesting times ahead maybe especially since Laverton is not yet regarded as an up and coming suburb. Areas like Sunshine, Sunshine West, Albion, Brooklyn, Footscray, Maidstone were all really rough areas (they still are) but prices are high and soaring. What are people's thoughts - might be a matter of when not if but as the saying goes if you hear about it in the newspaper it?s already too late...
It is basically the next suburb west after Altona in terms of proximity to City and also still a fraction of the price (low 300, 350k median). Wouldn?t call it a coastal suburb but not very far from coast. Schools and shops also. It seems like the next suburbs over are all increasing in price already but access to city and freeway not as good.
Another interesting thing I?ve noticed is that old homes are now starting to be demolished and quite a few brand new developments have started popping up in the area and the council is pretty keen to rebuild so permits are easily approved. I know this usually takes time but Laverton is not a big area and it shouldn?t take that long for developers to go through the area. Blocks are big enough to subdivide and I often see 2 townhouses going up on a block ? 3 on bigger blocks or corners. Once the number of new properties outweigh the old ones the area will be very appealing to a lot of people.
These new properties are occupied by an upper socio economic employed class and are already selling for up to 400k with decent rental yield. My mortgage broker has recently purchased IPs here and keeps telling me to do the same. Interesting times ahead maybe especially since Laverton is not yet regarded as an up and coming suburb. Areas like Sunshine, Sunshine West, Albion, Brooklyn, Footscray, Maidstone were all really rough areas (they still are) but prices are high and soaring. What are people's thoughts - might be a matter of when not if but as the saying goes if you hear about it in the newspaper it?s already too late...