500k Brunswick

Hi Forumites,

I'm looking at investing in the Melbourne market and particulalry fancy Brunswick. I'm wondering if some locals could tell me if they think it is still possible to buy a house in the area for 500k?

Thanks
 
Thanks DavidMC,

Yeah I have been looking on REA and Domain but it seems like it would need to be more like 550k to get into the market with something that wouldn't need to be completely renovated. How about areas like Thirnbury or Moreland? I don't know those areas as well though
 
I used to have very good knowledge of these areas but are you specifically excluding other capital cities?

Are you expecting brick or weatherboard?
Northcote or Brunswick would be much better but the suburbs themselves, which have all been mentioned aren't particularly desirable. The only feature I believe is that they are all relatively close to the city.

I am guessing you could certainly find many properties in Moreland but the particular location within the suburb is critical . I wouldn't want to live in some parts of each suburb

Try a 500m radius from the intersection of Bell st and sydney rd.
Also Try a 500m radius from the intersection of Bell st and Nicholson st

Reservoir is cheap but its a very big suburb as is west Preston.
Thinking about it for a while I would hone in on west Preston. You might just find something desirable and affordable if you are lucky.
Ps
You are the first person who I have ever had Brunswick referred to as Fancy.
It reminds me more of Parramatta...................is that fancy.
I think it needs another 10 to 15 years before it would become fancy. Carlton is more what you might be looking for , but very expensive now.
I would be looking at Brisbane or the gold coast if its possible
 
Hi Redsquash thanks for your tips. I think you misunderstood my meaning of 'fancy'. I just meant I fancy the suburb, not that the suburb is fancy....

It is interesting that you say it is like parramatta though I have had other compare the place to Newtown

Good info all the same though
 
Brunswick is becoming a desirable suburb, and it's attraction is due to it's proximity to the City and cafe's, restaurants etc.

The better parts are Brunswick East - particularly around Edward Street. Brunswick West has moved ahead substantially, although there are some Housing Commission Towers here that you may want to stay away from.

Perhaps if prices come down over the next year or so, you may find a house for around $500,000. But only time will tell!

I think Brunswick will be very expensive in 10 years time, and probably hard to buy into.

Regards Jason.
 
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