Albion,Ardeer,Broadmeadows,Coolaroo, DeerPark or StAlban

[Camry]

Hi everyone,

I was looking at the Metro map on the train stations , and noticed that these suburbs are all with the train stops, are all reasonably affordable, with median price approx $360K or below.

My budget is below $350K.

Albion is in zone one.

As public transport getting crowded every, petrol price will go up in the long run, do you think these suburbs will be good performers with good capital growth ? Are they rough ?

Or do you should buy a unit in the 'better' suburbs like Glenroy and Reservoir, rather than buy a full block house in these suburbs ?

Two yaers ago I look at Glenroy and Reservoir, but did nothing, now is too expensive for me.

Would appreciate your views. Thanks.

 

[oc1]

Other than looking at a "map", what research have you done?

What's good for one person may not be good for another.

 

[pickle pickle]

You really haven't done too much reasearch on this have you. What major line are Deer Park and Albion on? Maybe in the future they will be on main train lines but I can't think of the metro train line that these areas are on.

On your criteria I would be looking at Broadmedows. Add Dallas to. Only 20km away from city (near train stations too).

 

[MTR]

I also would look at Broadmeadows but target development sites, 700 sqm2, 3 unit sites it will set you back around $420-440K. Dallas is cheaper but I have found it difficult to find suitable development sites, irregular blocks.

I have read a couple of reports where Broadmeadows has been identified as an area which will continue to grow, the council is pro development, old houses replaced with townhouses. Closer to the train station provides better opportunities for development.

Cheers, MTR

 

[Player]

I also would look at Broadmeadows but target development sites, 700 sqm2, 3 unit sites it will set you back around $420-440K. Dallas is cheaper but I have found it difficult to find suitable development sites, irregular blocks.

I have read a couple of reports where Broadmeadows has been identified as an area which will continue to grow, the council is pro development, old houses replaced with townhouses. Closer to the train station provides better opportunities for development.

Cheers, MTR

^
What MTR said ^
^

 

[Deltaberry]

Wouldn't be buying in Melb now

 

[G_Man]

You really haven't done too much reasearch on this have you. What major line are Deer Park and Albion on? Maybe in the future they will be on main train lines but I can't think of the metro train line that these areas are on.

Albion is on the Sydenham line, still in Zone 1 too.

 

[thyechen]

After attending some auction, I believe the market in Dallas and Coolaroo has stabilised.

There are posters that raised concerns of smell from the Water treatment plan in Dallas, but I could't smell any when I was there. May be only when the wind blows ???

On Coolaroo, the price has sky rocket since last yaer, is it too late to buy there now ? What abt Hoppers Crossing ?

 

[tvadera]

http://www.brimbankshopping.com.au/News/Community-Newsletter-July-2012/

Upgrade to Brimbank shopping centre, so definitely some activity happening there.

Also there is lot of activity happening in Derrimut Village (which actually falls in Deer Park), New Mc Donalds opening up and lots of small take away and furniture shops coming up.

New restaurants coming up at Deer Park (Ballarat Road shopping strip), new Pizza hut just opened up and lots being cleared for new shops & practises

 

[uptighkid]

. I live in Albion, you might find the following information useful...

Albion is a zone 1 station, the journey to the CBD takes 21-25 minutes.
There is recently extended 1000 car capacity car park at Albion station which is usually full by 8:00am on week days.

We can expect higher frequency services when the Sydenham line is extended to Sunbury, that project is expected to complete later this year.

My wife and I both work in the city so public transport is a big deal for us. The trains on the Sydenham line aren't as frequent as other lines but generally I have found the service reliable.

Access by road to the city and surrounding suburbs is pretty handy, especially when compared to road access from the north.

Albion itself is pretty quiet. There is one tiny shopping strip but it is not central. This is a good thing because you don't find many people hanging around like you do in Sunshine.

There patches of Albion that are best tend to be near the station or near Selwyn Park. It can be a mixed bag sometimes, with nice houses right beside dumps. In terms of safety, Albion is a bit out of the way so it tends to be quiet.

Getting back to your budget, 350K might get you a house but it would be pretty run down. The rental prospects might not be great.

350k would get you a unit and there seems to be a lot being built.

I hope this helps

 

[CHAOS]

St Albans
Poor Rental Yield
Poor CG
Ip was close to Ginifer station
I learnt this from experience ... now if I had of bought in Yarraville, Seddon, Richmind, Kensington at the time... instead of buying my first house off a family friend at a premium!

 

[dog]

Just giving advice on that which I know.
I have had IP in Ardeer and at the time of disposal (1 year ago) there was talk of electrifying the train line (was when I bought it years earlier too) but no commitment; meaning that the more frequent train services were found 5-10 mins away in Sunshine, but not in Ardeer.

Most agents are of the opinion that the best returns/demand/CG are to be found within walking distance of Sunshine central as the demographic within the area generally do not have 2 family cars and hence location is more important than some other areas.

In the time I held the property (one which I was lucky enough to get cheaper than the bank's valuation) I saw Sunshine central's growth far outstrip that of Ardeer and shortly after selling it, I had some degree of explanation when it was published in a BIG newspaper that Ardeer has the highest % of unemployed on social security benefits.

That clearly = lower earnings and no upward pressure to sustain CG other than external purchasers (ie investors). Not a good start.
At the time of disposal I remember that Deer Park had exceptionally high no of stock on the market and also no upward pressure on prices as a result - also leading to low CG.

All of these statistics may have changes in a year, however, some probably have not. Do your own DD.

If I did it again, I would be grabbing a qarter acre with run down house in Sunshine Central with the only view to subdivide and renovate the original home...

Horses for courses.

 

[willister]

Hi everyone,

I was looking at the Metro map on the train stations , and noticed that these suburbs are all with the train stops, are all reasonably affordable, with median price approx $360K or below.

My budget is below $350K.

Albion is in zone one.

As public transport getting crowded every, petrol price will go up in the long run, do you think these suburbs will be good performers with good capital growth ? Are they rough ?

Or do you should buy a unit in the 'better' suburbs like Glenroy and Reservoir, rather than buy a full block house in these suburbs ?

Two yaers ago I look at Glenroy and Reservoir, but did nothing, now is too expensive for me.

Would appreciate your views. Thanks.

Each to their own, the West imho is still undervalued. I grew up in St. Albans, lived there until I was 25 before I moved to Sydney for work. It' was vastly different from the St. Albans I grew up with....the road on getting into (McIntyre Road if I recall correctly) St. Albans wasn't even paved in 1987...

Overall, growth has been disappointing. The folks purchased in 1987 for $75,000 for a 4 bedder BV, about 1 km from Ginifer station. When they sold up in 2005, they fetched $260,000 or $185,000 over the span of 18 years or about $10,277 p/a. We had an uncle who purchased around the same time in Mount Waverley, similar house but a bigger sized block for $150,000, now worth around $1,000,000 or around $47,222 p/a - that is quadriple (4.59 times to be exact) the amount CG over the same period!

I can't comment on the rest, but from that list, I'm only familiar with Albion & St. Albans. I would say St. Albans will be the next boom town, give it 5 years and it'll become another $700K+ league.

 

[imbi3]

I can't comment on the rest, but from that list, I'm only familiar with Albion & St. Albans. I would say St. Albans will be the next boom town, give it 5 years and it'll become another $700K+ league.

Found this old thread from 2012. Now is 2014 and still nowhere close to $700k+. Don't get me wrong. I would like it to be since I live in Brimbank as well. No sign to even get close to it

 

[albanga]

This thread was created before the announcement that albion station is to become an integral part of the airport link. All speculative but I think this will have a good affect on Albions future CG potential.

 

[tone1]

Found this old thread from 2012. Now is 2014 and still nowhere close to $700k+. Don't get me wrong. I would like it to be since I live in Brimbank as well. No sign to even get close to it

St Albans is argubly the dodgiest suburb in the council's jurisdiction. There's development, but that's so more dodgy people fit in the suburb and in locations closer to the shops (I'm generalising of course). That's how I see it. It will be a while before any kind of gentrification happens.

Great food/restuarants in the suburb though. I go there to eat, and then I get the hell out.

In saying that, St Albans is a huge suburb, and the sections to the far north, south and east (bordering other suburbs) are nicer pockets from my visits, and are still close to stations/freeways. The way I see it, the further away from the main shops/station, the better.

 

[albanga]

St Albans is argubly the dodgiest suburb in the council's jurisdiction. There's development, but that's so more dodgy people fit in the suburb and in locations closer to the shops (I'm generalising of course). That's how I see it. It will be a while before any kind of gentrification happens.

Great food/restuarants in the suburb though. I go there to eat, and then I get the hell out.

In saying that, St Albans is a huge suburb, and the sections to the far north, south and east (bordering other suburbs) are nicer pockets from my visits, and are still close to stations/freeways. The way I see it, the further away from the main shops/station, the better.

Long time ago now I was on a pay phone in st.albans not too far from the station calling my mum to pick me up after returning from tafe(before mobile phones). I was looking into the street but talking to mum when all of a sudden some junkie is like "WTF did you say to me" and then sprints at me. Without hesitating I dropped the phone and ran straight onto the main rd and about 2km down the street with him screaming behind me basically saying when he gets me I'm deadl! Haha. Moral of the story is make sure if you buy in st.albans you have a mobile phone and make sure when using it you stare at the floor.

 

[Hodge]

Albanga I can write a novel on my experiences with st Albans. I'm pretty much get in and get the $/^& out!

 

[willister]

Found this old thread from 2012. Now is 2014 and still nowhere close to $700k+. Don't get me wrong. I would like it to be since I live in Brimbank as well. No sign to even get close to it

Blast from the past! here I am in 2014...doesn't seem THAT long ago...

Yes, my prediction has yet to materialise, however, I do think it's on the up...

A decent BV 4 bedder about 800m walk from the station sold for $400K, I think well underpriced for that distance and 70s BV style home.

Sunshine is now hitting $600K odd....Won't be long before St. Albans hits about $500K.

Also note I did say 5 yrs which would be around 2017ish! I still think it can make it...

 

[KoopaTroopa]

LOL I grew up in Kealba, "near" St. Albans but it might as well be light years away haha

I have been and gone to St. Albans so many times, but I'd never go there at night. Even now in 2014.

Easily go there during the day though, so many people it's hard to get parking to do some shopping if I ever ever ever feel the need to go there.

In saying that, a house near the carparks on the street where CBA is on the corner opposite Safeway supermarket sold for $850,000 a few months ago. I thought that was an INSANE sale price