Any areas to avoid in Wyndam Vale?

[investor2009]

There are some nice homes to be had there, anywhere to avoid amongst the new dwellings or is pretty well anywhere o.k within that area?

Also, It would be interesting to hear which suburb the locals would currently prefer to buy into out of Werribee, Hoppers and Wyndham assuming similar prices.

 

[MCS_80]

Id suggest driving around the area to get an idea and see where the undesirable areas are. Plenty of commision houses still in the older areas that are not maintained the best.

In the "new" areas, all seems to be going as planned.

I believe the whole area will go up in value within the usual 10 year property cycle (ie Double value in 10 years)

Have a look at this thread here >>> Hoppers/Werribee area thread

This will give you an idea of the general opinion of the Hoppers/Werribee area.

Cheers

Mick

 

[DeeHwa]

Id suggest driving around the area to get an idea and see where the undesirable areas are. Plenty of commision houses still in the older areas that are not maintained the best.

In the "new" areas, all seems to be going as planned.

I believe the whole area will go up in value within the usual 10 year property cycle (ie Double value in 10 years)

Have a look at this thread here >>> Hoppers/Werribee area thread

This will give you an idea of the general opinion of the Hoppers/Werribee area.

Cheers

Mick

Hey Mick...that thread makes for some INTERESTING read!!! hahahaha

 

[MCS_80]

Hey Mick...that thread makes for some INTERESTING read!!! hahahaha

Yes it does

When there is a good discussion, something positive always comes from it.

Cheers

Mick

 

[investor2009]

Thanks for the info, I've been reading that thread also.
I would take a drive around but I'm a few thousand kilometres away at the moment and will be here for quite some time so I need to gather my info the hard way unfortunately.

What I guess I'm trying to ask is this.
If I buy a property in Wyndam's new area(s), can I go wrong with location?
I say that because I know there are good and bad areas in Werribee and Hoppers so figure the new estates in Wyndam should be good sight unseen.

 

[MCS_80]

When it comes to property rising in value, I don’t think you can go wrong. It all will rise in value, just at different rates.

In regards to obtaining a tenant etc, that may be interesting. With mortgage payments not much more than rent these days, a lot of people are keeping away from the newer houses and opting for the cheaper rental areas that are only 10kms away with the same facilities etc. (Train, shops etc)

Its a bit of a catch 22, you will buy quality property, but it depends on what you want to do with it that counts.

What is your investment strategy?

Cheers

Mick

 

[investor2009]

Thanks MCS, very knowledgeable advice.

My strategy is capital growth, but needs to rent well (be in continuous demand). I'm aware that the area typically lets at 5% which is stock standard these days so am not expecting an amazing rental return.

So you suggest picking up a cheapie instead of the newer dwellings?
Thanks once again. You're very helpful.

 

[MCS_80]

So you suggest picking up a cheapie instead of the newer dwellings?

My opinion, and thats all it really is, in Wyndham etc is that you may be better off with a little older house that costs less to start with and is closer to the town centre. In 10-15 years, house prices will most likely level off and they all will be "Old" houses, difference is you purchased an already older house for "X" amount less. (I think I explained that right )

Thanks once again. You're very helpful.

No probs. I have yet to buy an IP myself. With cash flow at a minimum and no opportunity to buy just yet, I like to study and learn as much as I can, and try to only comment on topics I am confident with.

Cheers

Mick