Hi,
I have read a lot of talk about Pakenham, Cranbourne. I know that Berwick is one of the smaller suburts on the south east zone, but what do you all think of the growth in the coming 5 years?
I just purchased a property there which I intend to live in, it is in the Chase estate. I am aware that there are quite a lot going on in the Casey Area, which is where Berwick is for those that are not aware.
My key points for Berwick:
1) Good Education - Haileybury, Monash, TAFE
2) Improving transport - East Link, Pakenham Bypass, Dandenong rail upgrade
3) Close to transit cities - Dandenong, Cranbourne and Officer(??).
4) Land is getting more scarce - This is only exclusive to Berwick (I heard from some friends that zoned residential land is decreasing)
5) Demographics - Did a demographic report from domain and real estate, and the income per household is quite much higher than surrounding suburbs, indicating it is a place where the more wealthy would like to buy.
6) Pros for the Chase estate - its new, good landscape and a lot of families. I think this is a pro. I might be reading a bit too much into it, but I tend to find areas with families tend to fetch higher prices. (why? because families usually live in their homes for the long term and hence better maintenance and willing to pay more for a nice area).
7) Part of the melbourne 2030 plan thingamagic.
Above are some of the key points why I choose to buy in Berwick. I am aware there are cons as well. The biggest con for me is the distance from the city and probably the relatively lower price of the surrouding suburbs. (Mainly Pakenham and Cranbourne)
Please comment. Your comments on Berwick in particular the Chase estate would be much appreciated. Although it is too late for me to pull out of the purchase now, I would still like to know where I have gone wrong in my assessment and not repeat in future purchases.
Thanks
I have read a lot of talk about Pakenham, Cranbourne. I know that Berwick is one of the smaller suburts on the south east zone, but what do you all think of the growth in the coming 5 years?
I just purchased a property there which I intend to live in, it is in the Chase estate. I am aware that there are quite a lot going on in the Casey Area, which is where Berwick is for those that are not aware.
My key points for Berwick:
1) Good Education - Haileybury, Monash, TAFE
2) Improving transport - East Link, Pakenham Bypass, Dandenong rail upgrade
3) Close to transit cities - Dandenong, Cranbourne and Officer(??).
4) Land is getting more scarce - This is only exclusive to Berwick (I heard from some friends that zoned residential land is decreasing)
5) Demographics - Did a demographic report from domain and real estate, and the income per household is quite much higher than surrounding suburbs, indicating it is a place where the more wealthy would like to buy.
6) Pros for the Chase estate - its new, good landscape and a lot of families. I think this is a pro. I might be reading a bit too much into it, but I tend to find areas with families tend to fetch higher prices. (why? because families usually live in their homes for the long term and hence better maintenance and willing to pay more for a nice area).
7) Part of the melbourne 2030 plan thingamagic.
Above are some of the key points why I choose to buy in Berwick. I am aware there are cons as well. The biggest con for me is the distance from the city and probably the relatively lower price of the surrouding suburbs. (Mainly Pakenham and Cranbourne)
Please comment. Your comments on Berwick in particular the Chase estate would be much appreciated. Although it is too late for me to pull out of the purchase now, I would still like to know where I have gone wrong in my assessment and not repeat in future purchases.
Thanks