Berwick, Victoria

I concur with my fellow forumites.
Its a dump, an island in a sea of land with nothing to do with little public transport and a million miles away from civilisation.
 
whoops sorry, just noticed your location. No offense intended.
As an IP, its a no, perhaps you have other reasons to live there as a PPOR
 
I concur with my fellow forumites.
Its a dump, an island in a sea of land with nothing to do with little public transport and a million miles away from civilisation.

its a good place though for developers to build junk and flog it via "investment advisors' to newbies at a massive profit margin

then this newbies believe investment properties r for suckers and never invest again
 
haha yes I live in Berwick. And no offense taken. Half the people who say Berwick is a dump haven't even been here. But anyway, was just wondering what a good location would be to buy in that's all.
 
If you really only want to buy in Berwick for investment then the best bet would be the places closer to uni and train station. For older properties, it would be on the west side of Clyde Rd and for the newer properties (less than 30y.o), consider those that are just behind the Chisolm TAFE. Of course, the best of the bunch would be the newer ones on the east side of Clyde Rd sandwiched by hospital, train station and a McDonalds but they usually command a big premium relative to the surrounding properties as you would expect.

FWIW, I personally think the best investment area in the City of Casey would be Narre Warren e.g. Webb St, close to everything.
 
Two reAsons why I would say no - large areas of non residential land border Berwick which means future demand will be met by developers buying up land next to Berwick - this will probably see a drop in price when new houses come online. I know people say that established housing is better but in Berwick everyone wants their brand new home.
Also for what it's worth the area already seems overpriced. For what it's Simmons are advertising a fancy house and land package of 623 Sqm for 900k. Berwick is full of new houses for which people pay too much for and they will have trouble selling them at a gain in the future because the area doesn't attract enough high income earners.
 
I like anywhere in zone 1 but if your budget cant afford it, as close to as possible. PT is a must as are "lifestyle" things, such as beach, eateries, schools, shopping. Look at suburbs that are at least 60 years old as typically they'll have a train line running through the guts of them and have opportunties where you pay little for the house ie land value only houses. They offer you an opportunity to add value as land goes up in value and building go down.
IMHO those outer suburbs will be the ghettos of Melbourne in my lifetime, caused by the masses of low budget gigantic ugly identical housing on small blocks together with no infrastructure, a reliance on cars and no jobs in close proximity.
Compare those big ugly McMansions in those outer areas where most of the cost is tied up in the house. Aim for the exact opposite.
 
agreed - one of my builder who lives in berwick bought a 900K house but haven't sold his own house in berwick as the offer on his original house fell through on the buyer's finance. So he's stuck with two massive mortgages even though the original house is up for rent.
 
Probably wouldn't look there now, but my wife bought there in 1999 for $120k. Now "worth" about $300k. This is Timbarra estate, so relatively well established.

For all the reasons stated above, I don't think there'll be much growth there as there has been. But we're holding because it's well and truly CF+.
 
Yep, wouldn't recommend that area now given the other opportunities available. We bought there in 2007 at the Chase Estate and it has performed very well for us. But in the last few years there has been so much more land releases and developments that I think capital growth will be hampered in the coming years. Having said that though, I think the suburb in itself will benefit from the new Tafe college, medical centre at Monash etc.
 
haha yes I live in Berwick. And no offense taken. Half the people who say Berwick is a dump haven't even been here. But anyway, was just wondering what a good location would be to buy in that's all.

You are correct Stephanie - I was one of those people who thought Berwick was a dump until I went there! I had a friend move there and have visited few times and its a really nice town. I think it gets its bad reputation because most people assume it's the same as the suburbs around it like Narre Warren, Cranbourne & Beaconsfield.

But as the other posters said I wouldnt recommend it as an investment. And also if you have a PPOR there already, then why would you want to put all your eggs in one basket? You should be looking to diversify.
 
agreed - one of my builder who lives in berwick bought a 900K house but haven't sold his own house in berwick as the offer on his original house fell through on the buyer's finance. So he's stuck with two massive mortgages even though the original house is up for rent.

This guy who bought a business off us - and subsequently ran it to the ground - capitalised $250k on to a PC house (in addition to purchase costs). Not sure what's worse. He built some nice pillars I heard.
 
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