Advice on Richmond in Melbourne

[lostmexican]

Hi,

I'm looking to buy an apartment/small house with 1-2 bedrooms and with minimum 1 car parking space in Richmond. This is for me to live in, with possibility of renting it out in 2-3 years.

I'm looking for locals who know the area to give me tips on traffic, parking and areas to live in regards to proximity to amenities.

I have been receiving advice that "anywhere" is good in Richmond. With the traffic situation there though I'm gravitating towards Richmond Hill, being close to Punt Road and the Freeway. I spend half my working week in East Melbourne and the other half in the south eastern suburbs.

Am I on the right track?

Thanks in advanced,

Pablito

 

[Deltaberry]

Small house > apartment

 

[Aaron_C]

Richmond Hill is the best position in Richmond because you are near the shops and public transport. This is the area bounded by Punt Road, Bridge Road, Swan Street and Church Street. The area around Erin Street just above Bridge Road is also counted as Richmond Hill.

The crappier parts are those near the Housing Commission on Highett Street, and anywhere near Victoria Street (Ikea etc). There is hardly any transport there, more crime and less character.

Oh and I agree with Deltaberry - buy a house if possible because those are the things that retain value in Richmond. Not a small dog box that you pay $10,000 per sqm for.

 

[Jake Milne]

Might be handy to allude to your budget...

2 Bed houses in Richmond will usually be $700k+

I agree with Aaron as far as location is concerned; other parts of Richmond can be quite unsavory... Traffic at peak hours is almost always tedious here though.

 

[lostmexican]

500-800k range

 

[Nigel Kibel]

If you can buy a single fronter on Richmond Hill you can not go to far wrong. Naturally do your due diligence carefully before you buy. Inner city areas will hold there value especially if its a period house.

 

[pieman]

If you can buy a single fronter on Richmond Hill you can not go to far wrong. Naturally do your due diligence carefully before you buy. Inner city areas will hold there value especially if its a period house.

Agree 100%, if you're budget could extend to a carpark(deep pockets), a all house is bullet proof.
Lived in richmomd/east melb for near 20 years off and on and have seen massive changes since the gentrification of the early 80's. my old mans mum owned 4 single fronters in a row purchased for the princely sum of 200quid each.

 

[Orks]

Richmond Hill is the best position in Richmond because you are near the shops and public transport. This is the area bounded by Punt Road, Bridge Road, Swan Street and Church Street. The area around Erin Street just above Bridge Road is also counted as Richmond Hill.

The crappier parts are those near the Housing Commission on Highett Street, and anywhere near Victoria Street (Ikea etc). There is hardly any transport there, more crime and less character.

Oh and I agree with Deltaberry - buy a house if possible because those are the things that retain value in Richmond. Not a small dog box that you pay $10,000 per sqm for.

Like your development

 

[Aaron_C]

Like your development

Yes but mine actually include good stuff and are a bit bigger than 40 sqm