Advice From Melbournians

[Jo1984]

Hi,
I am from Sydney and looking to buy an investment property in Melbourne. It has huge appeal to me because coming from Sydney, finding an inner Sydney suburb 15kms radious 2 bedroom apartment for less than $400000 is becoming very hard. Melbourne is growing and in a few decades will outgrown Sydney,probably becoming just as expensive or similiar. I have a few suburbs im interested in. Luv to hear ur opinions! I am looking at suburbs around Yarraville, Footscray, etc. I'm also interest in Coburg etc. I know these seem random choices, but it reflects my limited knowledge of Melbourne as I have never even visited the place! Peace out.

 

[Aaron_C]

Ew West....

 

[D_One]

Coburg is not west. I would like to know why you don't like the western suburbs Aaron? Although, looking at growth histories of footscray, sunshine, Maidstone and them, they haven't been as good as the eastern suburbs.

 

[Aaron_C]

I would like to know why you don't like the western suburbs Aaron? Although, looking at growth histories of footscray, sunshine, Maidstone and them, they haven't been as good as the eastern suburbs.

I think you've made my point.

 

[strongy1986]

Coburg is not west. I would like to know why you don't like the western suburbs Aaron? Although, looking at growth histories of footscray, sunshine, Maidstone and them, they haven't been as good as the eastern suburbs.

It's dry and dusty and nothing grows

 

[cosy]

HI,

I think S/E is better, i also looking in Pakenham.

Cosy

 

[2jzzzz]

Bit of perspective. I moved from FNQ to Melbourne. We rented an apartment in South Melbourne near the markets for 2 years. Was great, but traffic, parking and noise was annoying. Trams were awesome. We then moved to where we are in Yarraville and have loved it. Bigger apartment, brand new cool area and good train stop neither free parking. But we have just bought a PPOR in Altona Meadows, 4/2/2 7yo . I love the west, cant see myself being a South easterner. Guess I just like to drive everywhere and park easily.

Suggestions of mine would be to look in Seddon, Yarraville, Kingsville, South Kingsville, Spotswood, Newport and even Altona North (but not as much as the others).

 

[Jake Milne]

Try Coburg, Coburg North, Moonee Ponds, Ascot Vale and Maribyrnong. All quite nice areas with reasonably good growth and you'll still be able to pick up a nice 2 bedder for less than $400k in some spots.

 

[neeko]

im from the MP and cant see myself going anyhwere else,

im currently living in maningrida (remote NT) and i do love it,. but if i come back i would never move or buy in the "wild west" its either S/E as far up as carrum and as far south as rye.

nowhere else for me.

Nick.

 

[S.T]

Yarraville and Seddon are my picks from those lists, you can pick up a 2 bedroom apartment older style from 350k. I've been looking at a few recently.

 

[Teshy]

Hi,

To be honest nothing wrong with west for the price you can pick up property. I'm originally from Sydney and now live in the west of Melbourne.

Good Luck!

 

[hombie]

Hi,

To be honest nothing wrong with west for the price you can pick up property. I'm originally from Sydney and now live in the west of Melbourne.

Good Luck!

The problem with the West is that most of the city is in the East. That means most facilities (good schools, good doctors, good playcenters, good public hospitals) and jobs are in the East. Beaches, hills and tourist spots everything in the East. If you have family and friends, chances are most of them will be living in the East.

What am coming towards is that you will have to travel to the East very frequently which means crossing the painful city traffic. So its ok to be in the West as long as you only goto job (CBD) from home and come back home (West).

Needless to say 90% of the Western suburbs are known for morbid crime and troublemakers have been cornered into the West. Both Coburg and Footscray have bad reputation, so it best for the OP to visit the areas and get opinions from the locals / local newspapers before proceeding.

The practicality and convenience of living in the East is simply unavoidable when you start researching on which area to buy.

 

[rizzle]

The practicality and convenience of living in the East is simply unavoidable when you start researching on which area to buy.

Here's a question for you then: A 1 bedder in the east somewhere or 2 bedder in one of those western suburbs (seddon/yarraville etc.)?

I'm almost entirely priced out of inner and middle ring 2 bedders in the east (which is ideally what I want), as far out as Box hill. PPOR and budget $400kish.

Caveat: Rule out all properties with pool/gym/elevator/dismal kitchen/OTP. Must have car spot + close to train (sub 1km).

 

[hombie]

Here's a question for you then: A 1 bedder in the east somewhere or 2 bedder in one of those western suburbs (seddon/yarraville etc.)?

I'm almost entirely priced out of inner and middle ring 2 bedders in the east (which is ideally what I want), as far out as Box hill. PPOR and budget $400kish.

Caveat: Rule out all properties with pool/gym/elevator/dismal kitchen/OTP. Must have car spot + close to train (sub 1km).

I can recommend certain areas in the East for this budget which are good for PPoR and are much more convenient than their West counterparts
Here they are in the descending order of their affordability

Oakleigh / Oakeligh East (look near the Huntingdale station - Zone 1)
Chadstone (Holmesglen station - Zone 1)
Nunawading / Mitcham
Clayton / Clayton South ( Clayton and Westall station)

 

[Spades]

Springvale.

 

[Deltaberry]

Hi,
I am from Sydney and looking to buy an investment property in Melbourne. It has huge appeal to me because coming from Sydney, finding an inner Sydney suburb 15kms radious 2 bedroom apartment for less than $400000 is becoming very hard. Melbourne is growing and in a few decades will outgrown Sydney,probably becoming just as expensive or similiar. I have a few suburbs im interested in. Luv to hear ur opinions! I am looking at suburbs around Yarraville, Footscray, etc. I'm also interest in Coburg etc. I know these seem random choices, but it reflects my limited knowledge of Melbourne as I have never even visited the place! Peace out.

The west is grossly overpriced. Limited cap growth for years to come.

 

[Bigtone]

HI,

I think S/E is better, i also looking in Pakenham.

Cosy

I wouldn't be buying in Pakenham, some of the slums in the new housing estates
are frightening, the blocks and houses are so small and so close to neighbours. Garages turned into living areas.

Just a dive and will be for a long long time

 

[hombie]

Springvale.

Springvale not good for PPoR. Its fine for IPs. On the Pakenham/Cranbourne train line, any suburb after Clayton South (Westall station) is not suitable for PPoR except Berwick.

 

[hombie]

I wouldn't be buying in Pakenham, some of the slums in the new housing estates
are frightening, the blocks and houses are so small and so close to neighbours. Garages turned into living areas.

Just a dive and will be for a long long time

There are some great houses north of Princess Highway in Pakenham which are elevated and have mountain views. Some areas may be scummy. But if you are after views and large houses, then Pakky is the way to go.

Pakenham CBD is also good as it has lots of shops and pretty much self sufficient. You can take VLine and its less than an hour to CBD.

 

[Spades]

Springvale not good for PPoR. Its fine for IPs. On the Pakenham/Cranbourne train line, any suburb after Clayton South (Westall station) is not suitable for PPoR except Berwick.

hombie,poster was referring to IP not Ppor BUT since you brought up Ppor,there are pockets and if i were to live in springvale,i'd go springvale north over berwick.