Bayswater, VIC
- Thread starter Melb Wildcat
- Start date
Would you mind sharing some details Timmy?
I have tossed buying in Bayswater for almost a year now. A decent 3-1-1 house on ~750sqm block will cost around 450-480K. The only thing which has stopped me from buying is that rental yields are on a lower side (~3%).
I would assume that eventually Mitcham, Ringwood, Heathmont will be out of reach and Bayswater will shoot up.
In parallel, I have also looked at near city suburbs like St Kilda East, Ripponlea, etc where 450K would buy a decent 2BR apartment. Rental yields are better (>4.5%).
The comparison probably doesn't belong to this thread, but would really like to hear people's thought about Bayswater, and how it compares with investing in inner city suburbs? Thank you.
I would assume that eventually Mitcham, Ringwood, Heathmont will be out of reach and Bayswater will shoot up.
In parallel, I have also looked at near city suburbs like St Kilda East, Ripponlea, etc where 450K would buy a decent 2BR apartment. Rental yields are better (>4.5%).
The comparison probably doesn't belong to this thread, but would really like to hear people's thought about Bayswater, and how it compares with investing in inner city suburbs? Thank you.
Thanks OC1. I have driven around Bayswater, and attended auctions/viewings over last 2-3 months. I didn't actually get a ghetto feeling. The only thing which encouraged me was that there is not much of Chinese money (Hmm, why is that, now you make me think!!).
I haven't explored Boronia, but did drive around Ringwood and Ringwood East. Ringwood and Ringwood East are beyond my budget (450Kish) unless I buy a massive refurb project. There is a lot of Chinese interest in this market which is driving the prices very high for any ready to move in property, IMO, at least by 30-50K premium.
With my relatively meager budget, I think I just can't buy anywhere in East/South East unless I buy a unit, apartment, or buy far off.
I haven't explored Boronia, but did drive around Ringwood and Ringwood East. Ringwood and Ringwood East are beyond my budget (450Kish) unless I buy a massive refurb project. There is a lot of Chinese interest in this market which is driving the prices very high for any ready to move in property, IMO, at least by 30-50K premium.
With my relatively meager budget, I think I just can't buy anywhere in East/South East unless I buy a unit, apartment, or buy far off.
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Some food for your thought ...
1. A 2 bed unit, walk to Ringwood Station will always do well. Ringwood is a transport hub , last stop that gets trains for BOTH Belgrave & Lilydale lines. Check the map.
2. House , walk to Ferntree Gully village & train station. Note ..Not Upper FTG.
Overall .. don't dilly-dally if you're considering a purchase in Melbourne. The cycle is upon us. LL
1. A 2 bed unit, walk to Ringwood Station will always do well. Ringwood is a transport hub , last stop that gets trains for BOTH Belgrave & Lilydale lines. Check the map.
2. House , walk to Ferntree Gully village & train station. Note ..Not Upper FTG.
Overall .. don't dilly-dally if you're considering a purchase in Melbourne. The cycle is upon us. LL
Just reviving an old thread.
Can anyone help to point out which pocket is preferable and which ones to avoid for Boronia, Bayswater and Upper Ferntree Gully?
I drove around these 3 suburbs during the weekend, but probably since it was a rainy day, I couldn't really figure out much.
Thanks
Can anyone help to point out which pocket is preferable and which ones to avoid for Boronia, Bayswater and Upper Ferntree Gully?
I drove around these 3 suburbs during the weekend, but probably since it was a rainy day, I couldn't really figure out much.
Thanks
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