Blackburn South/Forest Hill

Hi all
I am looking at a PPOR around Blackburn South/Forest Hill. Ideally the current house can be retained and I am able to build another unit at the back. Budget around $650k mark for the property only (ie excluding construction cost). Is there any pockets that I have to avoid? Would really appreciate any inputs, comments etc
 
Hi all
I am looking at a PPOR around Blackburn South/Forest Hill. Ideally the current house can be retained and I am able to build another unit at the back. Budget around $650k mark for the property only (ie excluding construction cost). Is there any pockets that I have to avoid? Would really appreciate any inputs, comments etc

We were looking in the Blackburn area about 1.5 years ago for a PPOR too (we were going to sell our PPOR in Sydney and looking to move there). There was a very run down place we looked at fairly large block though 700m2 and about 700m to Laburnam station, it asked for about $650K+ and ended up selling for nearly $900K. I thought it was worth $700K MAX but the area was very lush and green and had plenty of parks.

Don't know about the RE landscape today as I have not really been looking after we gave up idea of moving...it might be a lot cheaper now as when we were looking it was a massive bubble and didn't quite want to risk it.

As I think both areas won't be within a 2km radius to a station, I'd prefer Forest Hill - cheaper, has the Chase shopping centre and a tad closer to CBD.
 
Thanks. I will need to add 20% on top of the quoted price as an estimate.
I did have a quick look at Forest Hill, looks affordable, not sure if there is good schools for the kids. Will do a bit more research
 
If you can it's better to buy in Blackburn rather than Forest Hill - a far more established area. I'd say $650,000 could buy you a small-ish house/block in the area, probably not enough for a subdivision. For that kind of property you will need to pay circa 800-900k in a decent area.
 
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