Any Info On Mentone?

[pricey]

I was wondering if anyone has any stats on mentone and how much it has risen over the last 12 months and since 2003.

Also, opinions on the growth it will get over the four to five or so years. I sold a house there about 4 years ago, however I am looking to re invest in Mentone again. It has a lot going for it, a lot of good schools, beach, transport, shops, bunnings etc etc.

 

[our obsession]

Gotchya Pricey:

Mentone: 1994 Median House Price: $162,250................2004: MHP $462,000....................Change for 10 period: 185%

Statistics are courtesy of Victorian Valuer-General 1994-2005

I also have 12 month growth from a publication; *Investment Property* September 2007....it has printed that Mentone has had a 12 month growth (median price from May 2006 to May 2007) of: 14%

These statistics are sourced from RP Data www.rpdata.com I don't know how RP Data source their information as opposed to the Valuer-General, (just so you're aware of that).

They also give a figure of average annual growth (change over the past 10 years, expressed as per annum figure): 10.6%

Median Price for 2007 : $530,000 (all RP Data again).

 

[auspony]

I too am interested in Mentone - but this article mentioning it was not a positive:

http://www.theage.com.au/news/busin...tes-stress-here/2007/09/18/1189881512808.html

 

[Rolf Schaefer]

this must be a typo - I am sure it should read Melton (mortgage belt) and NOT Mentone (a very good bayside suburb)

 

[toony]

I too believe this is a misprint. I cant see why Mentone would be any different than Beaumaris, Chelt, Parkdale, Mordy etc. Melton is very much a different place to Mentone.

 

[pricey]

I am quite shocked to read that. To start with there are a lot of older families in Mentone who have been there for ten years or more and they wouldn't have paid a lot for their houses. However I haven't seen the stats

If anyone can put more info on Mentone on here that would be great.

I am still going to buy back into it. It has so much going for it that I don't think it will suffer to badly.

 

[Harris]

It has so much going for it that I don't think it will suffer to badly.

Would you like to share that info with the rest of us please ?

 

[pricey]

Simply because it isn't a very expensive suburb for what you get. There are five or so private schools, a beach, transport, a shopping centre. The suburbs next to it such as Beaumaris and black rock have jumped dramatically in value, which has made mentone seem quite cheap. Also, as stated above it has consistantly returned 10.8% p.a. in growth.

I made a lot of money out of Mentone in the late 90's early to mid 2000's but sold to use my money elsewhere.

 

[toony]

I have done well out of Mentone. Its a middle ring bayside surburb. Its got good private schools and its near the beach. All the parents from the surrounding areas send their kids to the secondary schools in Mentone. Its got the train station and a shopping centre and Southland is only 5-10 mins drive.

And the St Bedes/Mentone Tigers are playing aussie rules in A grade of the VAFA next year.