Yes Southbank's apartments have been awful investments. People who bought 5 years ago still just barely broke even. But you can get low-rise apartments inner city for around $350-400k, like Richmond/Hawthorn etc.
Yes, I prefer flats/apartments in low rise blocks - ie no more than 3 stories high. The land content is acceptable and it is possible to still buy a 2 bedder for around $400,000 in some suburbs. You may need to pay slightly more than $400,000 to get a carport/carspace on an accessory title.
I like North Melbourne as the yields are not too bad for inner city and the prices of flats/apartments are still slightly below those in other inner areas.
what's the rentals like for 1 bedders and 2 bedders in North melbourne. I presume close to Melbourne Uni, the higher the rentals?
How do you calculate land content for an apartment?Yes, I prefer flats/apartments in low rise blocks - ie no more than 3 stories high. The land content is acceptable
Not sure why. An agent once told me it was because it is rare and no one builds them - (subject to the suburb)Body corporate i believe is slightly lower but not significant enough.
In southbank there is stretch of low rise apartments of southbank boulevard, Wells st, dodd st, coventry st among the high rise apartments. Their selling price is much higher compared to the high rise apartments especially for those with a courtyard. i personally don't like walking stairs.
They keep building new flats and apartments in that area. Just driving down the 7-Eleven corner the other day I was reminded of another 2 reasonable larger developments that some acquitances (not friends) are involved in.
A close real estate agent friend of mine who works in that area was just saying people should buy houses/terraces, not so much the apartments - and no, it was just casual chit-chat she wasn't trying to sell me anything as most of her stock are actually apartments. The houses/terraces are still cheap.
jingo, what do you think of this one? 460K. Seems large enough. I don't know this area that well - so don't really know if it's good. Other than that, nothing else in that area.