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Our budget is 400k - 500k for inner city. We looked at Seaford, but all the beach front places on Nepean Hwy are crap. North Melbourne looks like beyond our means from looking at market prices.

Thanks for the thoughts and ideas. The somersoft forums are fantastic and a treasure trove of knowledge. The financials don't stack-up at $450 pw rental. We'll continue to look. Any other thoughts on where to look in the Melbourne area? I have heard good things about Mernda. Anyone else...

Hi all, Newbie investor here. Any suggestions on areas to look for or avoid in West Melbourne? We are considering a 2 bedroom apartment on Hawke Street. Any ideas on capital growth? REA is claiming $600 pw in rental. But we think 550 is more reasonable. Any specific streets to avoid...