Ascot Vale, VIC

Hi All,

I've been looking at Ascot Vale closely for the past few months and would like to hear any feedback for any property investors who bought Units in this area?

My purchase is for an investment and my budget is $350K - $380K.

I see there are units on Maribyrnong Road (near the river) for $350K+ which are adjacent to Tram Stops that travel to both the City and Highpoint Shopping Centre. I am surprised that these units haven't been snapped up by investors yet for that price and the rental yields they generate.

Any information would be greatly appreciated :)
 
Ascot vale is a great spot, close to the city, Highpoint, Moonee Ponds and with great freeway / train access.

We've held an IP in AV for quite a few years now, and have had solid tenants and great growth. However in the past few years the Alexander Lombard Dev in Travancore has gone up and there is a major devt planned for 1 Ascot Vale Rd, - also the big devt planned for Moonee Valley racecourse nearby. What all this mean? Well I think there may be an over supply factor in the inner NW. I see a lot of boards out at the moment which is rare to see. Only today there were three boards out front of a Multi unit devt on ascot vale rd just north of ormond rd towards junction.

In speaking with other locals, the proposed east west link is also being perceived very negatively in AV due to the forecasted increased congestion. Good luck.
 
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Oversupply might be a good call. I've spent alot of time staying in Kensington recently and there seems to be alot of new developments in the inner NW.
 
I would not have thought 350-380k would get you anymore than a 1 bedder in AV though would it?

Is this the big development going up on the corner near the round about?

My question about that area is how long before all that land across from that development which I am pretty sure has something to do with the army?? Training or something I have heard? Anyways how long before they move them somewhere else and open that up to development?
If that happens the supply would be absolutely crazy! they could create a new suburb with all that land :eek:
 
Are you referring to the weapons site albanga? They need to clean it up first, but I'd say within the decade it will have been sold for peanuts to a developer.
 
Albanga, within that price range you can actually get some decent sized 2 bdrm 1 car space along Maribyrnong Road with Tram and Train Access (Ascot Vale Station).

I believe a lot of the oversupply is to do with the developments at ENCLAVE and EDGEWATER. Mirvac are soon to complete the first stages of the ENCLAVE with 10 or so townhouses selling between $750k-$850k.

My predicted gross yields for a 2bdr is about 4.8% p.a. which is not bad for the sub $400k mark.
 
Hey jagganath,
Yeah that sounds like the place. It is a mess but a massive piece of land that is just totally out of place around the area. Give it 10 years and highpoint will buy it and create a walkway from the current one across to it! :p. That being said, still wouldn't get a park around Christmas!

Hey pixie that's surprising but yeah good point about all the development. I think anywhere past the anglers is good around Epsom rd and union rd (love union rd, so much quality little eateries).
 
Albanga, within that price range you can actually get some decent sized 2 bdrm 1 car space along Maribyrnong Road with Tram and Train Access (Ascot Vale Station).

I believe a lot of the oversupply is to do with the developments at ENCLAVE and EDGEWATER. Mirvac are soon to complete the first stages of the ENCLAVE with 10 or so townhouses selling between $750k-$850k.

My predicted gross yields for a 2bdr is about 4.8% p.a. which is not bad for the sub $400k mark.

Unfortunately I haven't been back in far too long, so my currency in the area and what the developments are is limited. That's a decent yield, not amazing, but for the price you're buying I think a buy and hold will reasonably quickly increase that yield. Good luck!
 
Hi All,

I've been looking at Ascot Vale closely for the past few months and would like to hear any feedback for any property investors who bought Units in this area?

My purchase is for an investment and my budget is $350K - $380K.

I see there are units on Maribyrnong Road (near the river) for $350K+ which are adjacent to Tram Stops that travel to both the City and Highpoint Shopping Centre. I am surprised that these units haven't been snapped up by investors yet for that price and the rental yields they generate.

Any information would be greatly appreciated :)

Hello,
Ascot vale is a great location, the only issue is there are flats and units available to buy every where. Also just keep in mind that the body corporate rates May eat into your income.

Ps, with your budget does that include stamp duties etc
 
I would not have thought 350-380k would get you anymore than a 1 bedder in AV though would it?

Is this the big development going up on the corner near the round about?

My question about that area is how long before all that land across from that development which I am pretty sure has something to do with the army?? Training or something I have heard? Anyways how long before they move them somewhere else and open that up to development?
If that happens the supply would be absolutely crazy! they could create a new suburb with all that land :eek:

Rubbish,you have not looked on rea.com?Not a fan of the area myself but here's a link for Pixie,#8 in a block of 8.Does 8 add value?I'll let you think about it.

http://www.realestate.com.au/property-apartment-vic-ascot+vale-117401959

Re: Developments,Same could be said in regards to Doncaster.

Ps.Personally i'd rather a small unit complex.
 
I was able to find slightly better value in Moonee Ponds for my PPOR. That said I still would have happily bought in Ascot Vale if the right place on the right straight popped up.
 
Ascot vale is a great spot, close to the city, Highpoint, Moonee Ponds and with great freeway / train access.

We've held an IP in AV for quite a few years now, and have had solid tenants and great growth. However in the past few years the Alexander Lombard Dev in Travancore has gone up and there is a major devt planned for 1 Ascot Vale Rd, - also the big devt planned for Moonee Valley racecourse nearby. What all this mean? Well I think there may be an over supply factor in the inner NW. I see a lot of boards out at the moment which is rare to see. Only today there were three boards out front of a Multi unit devt on ascot vale rd just north of ormond rd towards junction.

In speaking with other locals, the proposed east west link is also being perceived very negatively in AV due to the forecasted increased congestion. Good luck.
hi
Just to add infor
i met the developer in person . its going to be part hotel and part residential.

"Equinox, Flemington is a 21 level building consisting of a 92 apartment hotel and 219 apartments"
Wishes
 
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