Are Melbourne Inner North-West suburbs are still undervalued?

[Alibaba]

All,

Are Melbourne inner north-west suburbs still undervalued?

I am talking about areas within 10kms from CBD and they are relatively in good demographic/desireable areas such as:

Kensington
Flemington
Ascot Vale
Moonee Ponds
Essendon

they all got 5 stars rated by The AGE

are they still under-valued in comparison to similar (distance & demographic wise) counterparts in...

> North East - Fairfield, Alphington, Eaglemont, Ivanhoe

> East - Richmond, Abbotsford, Hawthorn, Hawthorn East

> South East - Elwood, Elsternwick, Caulfied etc

Currently - those NW suburbs median prices are about 10-40% lower than those other areas above

Will they ever catch up in next 5 years given:
> the distances to CBD are approx similar,
> Public amenities, transports & city accesses are readily available?

Do you think they represent good capital gains for mid term (3-5yrs) ?

Do you think they are good choices for OO given the lifestyle/desirability/facilities of the areas?

Any thoughts?

Looking forward for discussions....

 

[Aaron_C]

Meh demographics there are so-so. Doesn't attract the same rental demand as something like a Richmond, Carlton, Fitzroy etc.

 

[Deltaberry]

Sure, they'll catch up to Hawthorn when a few more elite schools open there and a few more deca-millionaires move there. Let me know when that happens.