Thought I'd share a potential goldmine as I'm new to this, I would appreciate any feedback as I'm always looking to improve my research.
Long term growth statistics point to an enormous recovery:
http://www.smartpropertyinvestment.com.au/data/vic/3941/st-andrews-beach
Valuer general reports say the same thing, 800k-900k median in 2010, now the median is just touching 500k, I believe the data is rather credible.
But I can't find any information on the area itself, was there a toxic oil spill? a war? what's caused it to bottom out so drastically? Massive de-gentrification? Or people selling their holiday homes to get more growth in inner suburbs?
I guess what I really want to know is what caused such massive degentrification. It's half of it's price 5 years ago and in the middle of a hot market. Perhaps it's now to considered to rural? Or is part of a different market cycle like regionals and Gold Coast? I've heard Gold Coast and coastal area's indeed do follow their own cycle, and their time generally comes after Melbourne/Sydney have peaked.
I think I've finally found a potential goldmine and I'm seriously considering buying here, probably not the smartest idea to mention it on a public forum but I thought it was interesting
Any thoughts on the area? Cheers
Long term growth statistics point to an enormous recovery:
http://www.smartpropertyinvestment.com.au/data/vic/3941/st-andrews-beach
Valuer general reports say the same thing, 800k-900k median in 2010, now the median is just touching 500k, I believe the data is rather credible.
But I can't find any information on the area itself, was there a toxic oil spill? a war? what's caused it to bottom out so drastically? Massive de-gentrification? Or people selling their holiday homes to get more growth in inner suburbs?
I guess what I really want to know is what caused such massive degentrification. It's half of it's price 5 years ago and in the middle of a hot market. Perhaps it's now to considered to rural? Or is part of a different market cycle like regionals and Gold Coast? I've heard Gold Coast and coastal area's indeed do follow their own cycle, and their time generally comes after Melbourne/Sydney have peaked.
I think I've finally found a potential goldmine and I'm seriously considering buying here, probably not the smartest idea to mention it on a public forum but I thought it was interesting
Any thoughts on the area? Cheers
Last edited: