Bayswater, VIC

[ffc1883_1996]

Wow!

This aught to warm the hearts of those investors in Melbourne's Eastlink suburbs. Check out...

http://www.domain.com.au/Public/PropertyDetails.aspx?adid=2006771194

Old WB on 960m2 sold for $407k on the weekend in Boronia.

 

[feihong]

This aught to warm the hearts of those investors in Melbourne's Eastlink suburbs. Check out...

http://www.domain.com.au/Public/PropertyDetails.aspx?adid=2006771194

Old WB on 960m2 sold for $407k on the weekend in Boronia.

Here we go.. ripple trickling over here now. However, I hope whoever bought it has done their DD.. Boronia council isn't keen in granting subdivision applications just yet, might have to wait a while, unless of course they are planning to keep it as it is for long term.

 

[DreamzUnlimited]

Hi all :

I am a newbie to investment....Just exloring the possibility to buy my PPoR ( my first ) in Bayswater...specifically a 2 bedroom, 1 bath room unit. Just wondering is that a good idea? Is it a good suburb to live with your family , is there a shopping centre etc?

Thought this thread is a good place to discuss that as it is dedicated to Bayswater.

Also I am wondering about the transportation over there like train, bus etc.

Thanks and regards,

LIW

 

[landlubber]

Perhaps a visit is in order ????

Life, If you're REALLY thinking of buying your PPOR there and raising a family etc ... don't you think it's just possibly worth jumping in the car and taking a good look for yourself ???

LL

 

[DreamzUnlimited]

Hi landlubber :

U r right ... I am planning to visit the suburb very soon on some weekend ...

but Just wanted to get some info from ppl who have already invested there considering the factors mentioned by me. Would be great if I can get some feedback on issues mentioned by me.

I would go to Bayswater soon to have a feel of the place

Cheers!

 

[Peter Parker]

Also I am wondering about the transportation over there like train, bus etc.

If you really want to know, you need to leave home right now and do all of the following:

1. Grab the Melway.

2. Park, bus or walk to your nearest staffed railway station and ask for a 'Sunday Saver' ticket. ($2.90 per person and good for unlimited transport all day.) You will also want a Belgrave/Lilydale train timetable.

3. Take train to Bayswater Station.

4. Ask station staff for an 'Invicta Bus timetable book'. This has all the Bayswater/Boronia buses in it. As it's just come out, they should have it, but if they don't, ask a bus driver from step 4 below. If it's quiet ask station staff about the area.

5. Allow 20 min to hang around station and bus stops. Inspect maps and timetables there for bus routes. Observe the people there. Note times for the next bus if you want to go somewhere.

6. Wander across to the shops to see if they are sufficient to make basic needs. Note signs to community facilities and inspect them. Check any REA windows. Again observe people hanging around. Is much open Sunday? The proportion of shops open Sunday is the number 1 indication of whether a shopping strip is declining or thriving.

7. Walk around most residential streets around Bayswater. If you're lazy walk back to the station and get the train to Boronia. But it's better to walk to see all the surrounding area.

8. You can usually do about two suburbs per visit, so wander around Boronia as well. Look at the shops and compare to Bayswater. Again look at the people hanging around, talk to station staff & shopkeepers, inspect REA windows etc.

9. It should now be almost dark. Stick around for more due diligence/people watching and get train home. Tidy up your notes on way back and compare Bayswater & Boronia.

10. Off you go - no time to waste

 

[landlubber]

Good to hear !

Life,
Good to hear. Bayswater has "all the stuff" you're looking for. It's NOT a South Yarra. It's definitely working class, but that suits me fine. Lot's of industry around there. I'm a big fan of "walk to station" properties and you can still afford them in the area. I've already bought two 2 bed units there, and if I was looking to buy now I'd be trying to buy while the interest rate effect is still around ( before the rates start to go down again) and also before Eastlink opens. I think Eastlink will give that whole area ( Bayswater, Boronia, Ferntree Gully etc) a kick-along and I've invested acccordingly.

Good luck.
LL

 

[alicam]

Bayswater secret...

I'm not helping myself by sharing this... just share the spoils with me later, ok...!

There has been a rumour circulating among residents that the area of Bayswater west of Bona Vista and Pindari is going to be rezoned to Wantirna.

I can only guess at why that would be happening, but that's the firm rumour.

So any opportunities that come up in that area of Bayswater near the corner of Stud and Boronia might be considered more attractive for that reason

This part of Bayswater is certainly the best anyway, as it's closest to Eastlink (and the city, generally), closest to Wantirna, closest to Stud Rd (and thus Knox City), and farthest away from the Bayswater industrial zone (!).

There's an Aldi in the Bayswater shops, GetFresh in Boronia (the best green grocers anywhere!), and Knox City a block down. That small section of Boronia also has a well regarded Primary School in it (Bayswater West).

The "vibe" of that area is a world away from the "depressed" feel of the section of Wantirna that sits between it and Knox City, to the south.

All that said, when a property like this comes up, you want to get your calculator out!

I have tried very hard via Google to get proof of that rezoning story, but no luck. I'll talk to locals again to see what I can dig up.

I am particularly interested in that little part of Bayswater, as you might have concluded

-Alicam

PS. No, I have nothing to do with that property above!! In case you were wondering

 

[marg4000]

There are generally three surges in real estate prices for any new infrastructure.

1. When the project is first announced.

2. When the project commences.

3. When the project is completed and people see for themselves how it saves time and/or increases convenience.

With Eastlink, #3 is still to come.
Marg

 

[Dis]

There are generally three surges in real estate prices for any new infrastructure.

1. When the project is first announced.

2. When the project commences.

3. When the project is completed and people see for themselves how it saves time and/or increases convenience.

With Eastlink, #3 is still to come.
Marg

True but its also the sort of suburb that will suffer alot from IR rises and petrol prices

 

[landlubber]

Alicam .. First post ! Welcome ! See , it didn't hurt a bit.

You're going to think I'm "full of it" but we bought one in Bonavista the other day !! Nice street. Nice outlook to the ranges. Dual-occ block.
=============

Dis
" suffer from IR rises " .... sorry I'm dumb. What do you mean?

" Petrol prices". Don't agree. One of the reasons I like the area. So much employment within a short drive PLUS a train station where you can actually get a seat all the way to the city. Each way bet as I see it !!

LL

 

[DreamzUnlimited]

Hi all :

Just wondering if I buy a 3 bedroom , 1 bathroom house ... is that a good choice? what people told me where there r 3 bedrooms, 2 bathrooms become important.

So just wondering that if i buy a 3 bedroom, 1 bathroom house - is it possible to include one more bathroom later on? is there any legal difficulties with that OR is that what many investor do?

Cheers!

 

[landlubber]

Life, 3 bed , 1 bath houses work just fine. Either as PPORs or IPs.

Yes, you can add an extra bathroom later...providing you either have room within the existing floorplan (unlikely) or as an extension. The extension is NOT a cheap exercise. Possibly the 2nd bath would be designed as an ensuite to the main bedroom. You'd need council approval etc for the works.

LL

 

[warlobo]

Eastlink

Having resided in and around Nunawading/Mitcham (and surrounding areas) for the past 15 yrs personally I am sceptical how much of the traffic congestion that has built up in the area will use Eastlink given the tolls. Since the Springvale Rd extension and the constant lack of progress since the traffic has become terribly congested in many of the areas immediately sth of Whitehorse Rd and the trainline, Springvale, Mitcham, Boronia, Canterbury Rds are pathetic at times, and it remains to be seen if this will be eased with the new tollway. Suburbs to have benefited are those nth of Whitehorse Rd between Mitcham and Doncaster where the traffic has been signifigantly eased now its all dumped out at Springvale Rd (such as Donc East). I believe the new tolls for the Eastern will allow traffic to exit at Ringwood before extra toll sections begin, therefore Ringwood and Bayswater might be the next to feel the impact of greatly increased traffic congestion, and I'd be very careful purchasing in these areas myself. Just my opinion, but until you've lived through it the true impact and disruption cant be appreciated as many in my area will attest to.

 

[landlubber]

Eastlink's a bargain.

Eastlink's website says car tolls will be min of 32 cents and max cap per journey $4.82 . With oil nudging US$120/barrel, fuel approaching A$1.50/l and even salary $50K per year gives an hourly rate of about $25/hour and the current very bad congestion on all North-South roads (Middleborough, Blackburn, Springvale, Stud) you'd either have to (a) put a ridiculously low value on your "hourly-worth" or (b) be some wierd kind of "traffic lover" not to think Eastlink tolls are a downright bargain !!

LL

 

[ffc1883_1996]

EastliEastlink tolls are a downright bargain !!

No they’re not – they are a rip off compared to the tolls charged in the northern and western suburbs (currently zilch).

However, I agree with you, congestion on Dorset Rd, Scoresby Rd, Stud Rd, Springvale Rd and Blackburn Rd will force people on to the toll way. Folks will just get used to paying the bills.

 

[Dave Hooper]

No they’re not – they are a rip off compared to the tolls charged in the northern and western suburbs (currently zilch).

Not to mention the fact that Bracksy promised there would be no tolls here too

 

[ffc1883_1996]

Not to mention the fact that Bracksy promised there would be no tolls here too

G'day Dave,

It nearly made me sick when they announced a competition to name the two tunnels. My entry would have been “Bracks” & “Lies”.

Regards - Ben

 

[Dave Hooper]

My entry would have been “Bracks” & “Lies”.

Nice!

grr 10 character limit

 

[warlobo]

Eastlink's website says car tolls will be min of 32 cents and max cap per journey $4.82 . With oil nudging US$120/barrel, fuel approaching A$1.50/l and even salary $50K per year gives an hourly rate of about $25/hour and the current very bad congestion on all North-South roads (Middleborough, Blackburn, Springvale, Stud) you'd either have to (a) put a ridiculously low value on your "hourly-worth" or (b) be some wierd kind of "traffic lover" not to think Eastlink tolls are a downright bargain !!

LL

Considering all those costs we hardly need another fee on top, especially for an eastern fwy thats currently free, and without further upgrade/improvement will now be $2.22. Not to mention the Fed Gov's offer of 50% of funding to remove tolls, however only time will tell. Toorak Rd certainly didn't benefit to the degree anticipated with the sth eastern 'bargain' tolls being introduced. Luckily the fee will only increase annually for the first 35 yrs. Hopefully I'm proven wrong but I just cant see it having the impact some expect. Ah perhaps frequent residential speed cameras can assist with any shortfall should Eastlink not reach its quota... (obviously penalties would commence well within the 10% error margin afforded the manufacturers of vehicle speedos).