Anyone know much about KURUNJANG, Vic?

[kristy77]

I am looking at buying an IP in Melton due to the good rental yields and rise in the market of late. I know alot of info about Melton (form own research and reading posts here), but am wondering if the same thing applies to Kuunjang? Seems to be very nice houses there for under $220,000

Kristy

 

[Property Mogul]

First impressions are ok.

Hi Krsity, thanks for the heads up. I had also been looking at Melton recently but hadn't been aware of Kurunjang. A trawl through the council website indicates plenty of new development (15 billion!!!) albeit out to 2030. I'd also be interested in the views of anyone with some local knowledge or anyone who's invested in Kurunjang already.

Cheers.

PS I hope we don't become competitors for the same property.

 

[kristy77]

PS I hope we don't become competitors for the same property.

I don't mind - as long as you give in and let me have it

Just kidding!

 

[TheCamel]

isnt kurunjang just part of melton ?

 

[MichaelSyd]

Hiya,

yeah Kurunjang is one of the suburbs of Melton to the north of the town centre. I bought a place there in May - generally the properties are newer the further north you travel through the suburb.

From my research (and experience) the hosues in this part of town are pretty easy to rent out. As it is easily accessible to the east of the town and the freeway to Melbounre, it may be more attractive to renters than the west side of town, where you have to travel through more streets to exit Melton.

Don't forget the Deer Park bypass opens late 2009 cutting time off the trip to the CBD and should be toll-free...I'm sure the renters and first home buyers will love that

You're right, there's still plenty of houses in the low 200s.

I bought a 3 yr old, 3 bed house with garage and ducted heating for $204K and rented at $225/week within a week of settlement.

Good luck!
cheers
Michael

 

[Property Mogul]

Thanks Michael..the signs for Melton/Kurrajang look promising. Still early days in my research though.