Melton Vic.

Kate

I had thought of Sunbury - friends of ours lived there years ago and it was (is?) a lovely place - but thought it was a bit too out-of-the-way. But, geez, I haven't been down that way for ages - undoubtedly things have changed quite a lot.

Am just starting to research places in VIC (have bought in QLD to date) - mainly starting with areas where we have lived (hubby was in the RAAF) or with which I am familiar - but it's becoming increasingly obvious that we need to take some time off and come down there to have a really good look around!! (Note to self: first, figure out how to get some time off!)

Many thanks Kate, and also to everyone else who has replied - your thoughts are most welcome and very helpful! SS is just the best!!

Cheers
LynnH
 
Melton seemed to get a bad name when it first started off as a lot of newly marrieds went out there, then , for whatever reason there was a huge divorce rate (probably just the usual divorce rate) and there were a lot of single Mums left not able to pay the mortgage. Saizeriya (a Massive Japanese Co) have built a very big food manufacturing plant out there. They were going to build 9 which would have been fantastic for Melton, but the dear old Unions couldnt wait to get their claws in and, shortsighted as usual gave the Coy such a bad time they declined to build any more. What a shame. Melton has a real country town feel about it.
Sunbury has lost a lot of its country town feel and become more of a suburb now, and a lot of the older residents are sorry about that. Only 30 mins into the City on the Calder while Melton takes a lot longer as you have to slow down through Rockbank and Caroline Springs
 
Lily

Melton Rent

For a older 3 br house with a value of around 165k the rent should be between 175p/w to 190p/w. From the agents i have been talking to the demand is similar to everywhere else.

Wayne
 
Melton

I'm unsure if any one else has noticed but there has been a flurry of activity in Melton over the last few weeks.

The REA agents are saying its the Sydney investors ... Property Secrets bought 3 properties there a fortnight ago.... so may be like OC has stated ... things may have started to happen.

Strong demand for rentals too with better returns than Werribee and Hoppers Crossing ....hmmm started me thinking....

Any updates available from other forumites ?
 
Try one word "bypass" that is the deer park bypass which will cut a CBD trip by 20 minutes to around 40 minutes. Due 2009.

Going hunting there this weekend. Market is very negotiable.

Set and forget? Simple oslid investment in town that in 10 years time will be another place all together.

Sunbury, I dont like. Teenage gang issues and rampart overdevelopment of ugly houses. You only need to visit to see the graffiti.

Peter 14.7
 
Hi Peter 14.7,

The by-pass is scheduled to cut 9 - 17 minutes off peak time traffic, and 5 - 11 minutes off other times.
I think the council printed those times in the local paper a few weeks ago. Not sure where you got 20 - 40, because the trip is only 35 - 42 minutes
during non-peak hour anyway.

Cheers.
 
Thanks Bazari

I am inspecting some potentials tomorrow so this is good to know. My source was a local and RTA banner in the local shopping centre. Gov spin!;)

Peter
 
Last edited:
We bought an IP 18 months ago in Melton. A slow start, but things are ticking over quite well now. Our agent told us that they had the best March sales figures for over 5 years in 2007.

From reports and articles I've read recently it all points to a positive outlook. Maybe not the greatest growth at the moment, but I see us being very happy with the returns in the future.

Bunnings built a huge store and a whopping industrial city is planned by Melton Council (employment) and the Bypass (Deer Park I think) to Melbourne CBD is started and when complete is expected to reduce travel time to Melb CBD. A high speed train line is in place... Bernard Salt (demographer) of KPMG reckons that Melton has a good growth prospect, both capital and population. Whenever they print top 10 pop growth areas in Australia recently ... Melton usually appears in the top 5.

Anyway for what it's worth ... we are very happy we have an IP in Melton. Good rent return (6%) and no trouble finding tenants. I read the indicators as being positive, but maybe those IP investors who have doubts about considering Melton need to look beyond the stigma of it's past/present reputation and try to see what the area has the potential to become in the future.

Martin :D
 
....and not forgetting:

http://www.melton.vic.gov.au/page/page.asp?page_Id=866

Whether people desire to invest in property there (or not); regardless... it is exciting times for Melton, and Harness Racing...we will have our *own* home base!

I like the area as a possibility to live because there is relatively a lot of land:) and if we want to live there we can have the benefits of privacy, acreage, space etc but closeness to city facilities...without living in people's back pockets.

Aside from that, I believe we will invest there as well...it suits us.

Melton- *It's all good* ;)
 
I know Redfern and I know Melton.

IMO Melton is nothing like the worst parts of Redfern. The block is still a no go zone and you would not park your car with anything inside one night unless you wanted to invest in a new window. YOu dont get drug deals in the streets of Melton. Maybe grass but that is not crack or Cocaine.

Melton is a trades based country town about to experience a boom in growth and we assume prices due to the Gov mandated growth, new instrastructure, and an (at present) abundance of affordable housing. Frankston without the water but with the acreage and horses.

Peter 14.7
 
Last edited:
Peter 14.7

"Melton ... (is like) ... Frankston without the water but with the acreage and horses" ... AND the FLIES - I remember they used to drive me crazy when we were living there!!! No reason not to buy in Melton, of course, but they are probably my most vivid memory of living there many years ago - especially in the summer.

Cheers
LynnH
 
But not sand flies like Frankston. They seriously bite. I spent 7 years near a coastal creek in Coffs Harbour and they are bad.

In the Ranges we are not so bad but we get lots of spiders, centerpides in plagues, and the occasional snake!

In Sydney I got no bugs but needles, homeless going thorugh bins, and sirens every night.

I think Tassie is perfect is it not?:D

Peter
 
Wayne,

Have you read the thread from the first post ..... ? Most of the questions you have asked are answered withing the replies in this thread.

Martin
 
Peter

Mmm ... sandflies. :( We get those here, too - one of the drawbacks of having beautiful water views, I guess. Funny thing is - they love me, but hubby and the girls aren't bothered by 'em.

I agree - Tassie is perfect - lived there many years ago, and it was bliss! Don't know how I'd survive winter there these days - am too used to "Queensland: Beautiful one day, perfect the next". :)

Cheers
LynnH
 

Similar threads

J
What do you guys think of Inala, Brisbane?
Replies
6
Views
2K
egga
E
D
1 Bedders in Melbourne
Replies
10
Views
5K
Jake Milne
Jake Milne
P
Clayton area VIC
Replies
4
Views
1K
jpcashflow
J
C
Bank's lending policy on these VIC suburbs
Replies
4
Views
943
Jamie M
Jamie M
S
Body corp for new developing 3units
Replies
2
Views
1K
Shirls
S
Back
Top