2BR Melbourne PPOR (FHB) - How are these suburbs?

rizzle

rizzle

After a fair bit of research I'm starting to establish a list of suburbs that I would consider living in AND believe I can afford.

Key criteria:
  • Budget of $420k
  • Must have 2 bedrooms
  • Must be within approx 14k of CBD (preferably closer)
  • Must be within 1km of train line.
  • Must not be a big apartment complex (with pool/gym etc.)
  • Must have a usable kitchen (i.e. rule out most new apartments). To be a bit more specific, I don't need a huge kitchen, I just need more than the 1m of bench space that most new apartments have.

Everything else is a bit of a luxury but it ideally would have a balcony, be greater than 50m2, not on a noisy/major road and be a reasonable investment (future capital gain). Western suburbs are less preferable too (but not ruled out). I was hoping to get some feedback on the list of suburbs I have come up with so far.

These are my primary suburbs (listed in order of preference to actually live in):
  1. Carnegie
  2. Murrumbeena / Hughesdale
  3. Northcote
  4. Fairfield / Thornbury
  5. Ascot Value / Flemington
  6. Box Hill

And these are my secondary suburbs which I'm a little less certain about, in no particular order: (reasons why in brackets)
  • Preston (Unknown)
  • St Kilda East ($$$)
  • Travancore (Seems like a yucky apartment suburb?)
  • Kensington ($$$)
  • North Melbourne ($$$)
  • West Melbourne (Limited supply / unknown)
  • Moonee Ponds (Unknown)
  • Essendon (Unknown)
  • Seddon (Limited supply & it's West)
  • Yarraville (Limited supply & it's West)
  • Oakleigh (Unknown)
  • Ormond (Unknown)

From your point of view, are there any obvious scratchings (based on affordability etc.) or any omissions that you would have included?
 
Doubt you'll be able to buy any decent 2 beds in Fairfield for $420,000. Also, at that price in Murrumbeena/Carnegie you may find a lot of smaller apartments so be careful...

Other than that sounds like you're expectations are in line :)
 
Isn't the point of an apartment that it's relatively central? I'm not sure what the point is of buying an apartment in Ringwood when it's a suburb that's not really designed for apartment living. You might as well go further out and buy a house instead.
 
cimbom said:
Isn't the point of an apartment that it's relatively central? I'm not sure what the point is of buying an apartment in Ringwood when it's a suburb that's not really designed for apartment living. You might as well go further out and buy a house instead.
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Very true - you would be looking at 2 BR villa units and townhouses Mitcham and beyond, which I assume would be better for the OP.

The Y-man
 
Maybe look at upping your budget a little more to around the 500k mark...

I would say an extra 80k will open options around 7km from the city and arguably a potential for greater capital gain.

Furthermore, look at 1980s apartment if you are looking a larger kitchens and space (70-90+sqm for 2BR) if you're not too concerned about the 'modern' look/feel of the apartment.
 
Just to clarify, I'm 25, single and buying the house on my sole income. That means I can't stretch past 420k, as that is about all I'm good for. It also means proximity to city is important (I work and play in the city). How are commute times from those suburbs out past box hill? Does anyone on here live in that direction?
 
Hi Rizzle:

I am from Croydon and have been living here for last 5 years. Really love it here as it is close to shops, transport, schools and very convenient. You can't go wrong with the suburbs mentioned by Y man. The area surrounding the Dorset Road and Main street ( near the station ) is very convenient.

There is direct train and train ride is 45 mins to CBD from Croydon. You got access to Eastlink/Easter Fwy too.

Cheers!
 
Of the suburbs in your initial post, I would go with Ascot Vale but that's just me. Certainly the best value for money for an apartment of the ones listed.
 
Convince me why I should consider living further out than box hill. Because at the moment the thought of it is not very appealing (as I mentioned, CBD proximity is pretty important)
 
As nice as some of the outer areas are Rizzle, from a lifestyle point of view, you're probably better off being in one of the more 'dynamic' suburbs.

Of those that you've listed the following have a more vibrant local precinct:


Carnegie - great cafe/restaurant area along Koornang Rd, very mixed demographic

Northcote - reasonable shopping centre and cafes on High St, more of a family area

Fairfield - Station Street shops is now very 'trendy' leaning toward a hipster vibe but not quite as much as Brunswick/Fitzroy

Box Hill - Decent sized shopping centre and plenty of asian restaurants
Essendon/Moonee Ponds - Mount Alexander Rd has plenty to offer; heavy Chinese and South East Asian influences

Seddon - popular with the young professionals now, Charles, Gamon and Victoria St have plenty to offer

Yarraville - Like Seddon, many popular cafes on Anderson and Schild

Oakleigh - vibrant cafe precinct on Station and Atherton, strong italian/greek influences so there's some good espresso.
 
I like the northern suburbs.

What about preston south of bell street? Its practically thornbury and has a few good cafes/bars/ shops and excellent train/tram/bus links. Plus it's close to northcote, Brunswick and Fitzroy if you tire of the city.

I think you might struggle to get everything you want in northcote and I think that part of preston is as attractive as thornbury but a bit cheaper.

Seddon/yarravile are lovely but the transport links to the city aren't as good.
 
Esel said:
Seddon/yarravile are lovely but the transport links to the city aren't as good.
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20 mins by train to Flinders St during peak, I'd say that's pretty darn good. Probably best out of all the suburbs listed and closest to CBD in distance. Not sure what it's like by car during peak, but why would you bother.

I think for the OP's budget and wanting to be close to CBD for work and play, it's pretty hard to look past these two suburbs.

I've seen 2 bedroom terrace houses sell for low 500's that need a bit of work, in Yarraville recently. Cheaper 2 bedroom apartments are still in the 350-400k range.
 
simtr said:
20 mins by train to Flinders St during peak, I'd say that's pretty darn good. Probably best out of all the suburbs listed and closest to CBD in distance. Not sure what it's like by car during peak, but why would you bother.

I think for the OP's budget and wanting to be close to CBD for work and play, it's pretty hard to look past these two suburbs.

I've seen 2 bedroom terrace houses sell for low 500's that need a bit of work, in Yarraville recently. Cheaper 2 bedroom apartments are still in the 350-400k range.
Click to expand...

Ok maybe not much in it, but at 8pm on a Saturday night the trains from yarraville run once every half hour to the city. No trams. Buses aren't great either. Traffic between wester suburbs and the city is becoming really heavy and slow in peak hour. I just think transport options are more limited in the west.

Although if I was rizzel I would much rather seddon/yarravile than any of the eastern suburbs.
 
Jake Milne said:
Essendon/Moonee Ponds - Mount Alexander Rd has plenty to offer; heavy Chinese and South East Asian influences
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I could not disagree more actually. The area would be more anglo then some 2nd/ 3rd-gen European than anything else. The Asian enclave was Newmarket/ Kensington about 20 years ago, and never really went north of there.

@ the OP: Ascot Vale is nice but there is some noise and traffic due the Showgrounds and the Racecourse. Travancore is nice and has no trouble whatsoever, and has great access to the creek/ bike path so you can be in town (South Wharf area) in 10 minutes on a bike.

There are some major developments planned for Moonee Ponds (old market site, and potentially the race track) so understand where these are before putting your money down there. A nice area though.

Esssendon is blue chip and the comparable area on the other side would be Malvern in terms of architecture and feel. A very desirable area but if you are after gains then other nearby areas may be better, such as Pascoe Vale.
 
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