Braybrook, Melb

MTR

MTR

Hi All
keep reading reports regarding this area, considered a hotspot for capital growth and has the right formular, good infrastructure, close to Melb.
I read that this is considered working class area which is under-valued and is rapidly changing due to gentrification process.

I am interested in areas surrounding Braybrook which may have potential on large parcels of land which can eventually be subdivided. Can anyone give me some suggestions/recommendations, I am not from Melb am doing some homework on this pocket.

Many thanks, MTR
 
MTR said:
Hi All
keep reading reports regarding this area, considered a hotspot for capital growth and has the right formular, good infrastructure, close to Melb.
I read that this is considered working class area which is under-valued and is rapidly changing due to gentrification process.

I am interested in areas surrounding Braybrook which may have potential on large parcels of land which can eventually be subdivided. Can anyone give me some suggestions/recommendations, I am not from Melb am doing some homework on this pocket.

Many thanks, MTR
Click to expand...

Hi MTR,

Good to read a post from you again!

I can only give you some general observations from what I have seen as I have been driving around Marybrynong, Maidstone and Braybrook. Maidstone is certainly sought after - especially areas close to High Point. The streets close to Highpoint Shopping Centre in Maidstone are for the most part wide and tree lined. Housing stock dates from 1950's through to 1970's-80's. Blocks are large.

There seems to be many small developments occuring around Maidstone and Braybrook, with land being subdivided by investors.

I cannot accurately give you price estimates, as I don't know the area extremely well.

Suffice to say, that I have read it is undervalued as it is close to the CBD.

Look forward to hearing what you end up purchasing!

Regards Jason.
 
Braybrook has a lot of public housing and the associated crime etc it is moving up but will take quite a few year for the transfmation to be complete. I suggest a flight and drive around b4 you purchase and you will see what I mean. there is a large multi cultural population there.
I live in melton and this was in my price range when I was looking it didn't appeal for many reasons.
cheers
meggala
 
I work in the area in the emerg services.

I don't mean bag the area, but this is my impression of the area at the moment.

Up towards Footscray and Maribynong, it isn't too bad. There is a juvi detention centre and student's housing college.

However, going towards Sunshine it is a little grim. Crime rates are very high, and there is a lot of violence, most of which is not reported to the police. It's not exactly a 'family' area. However, if it follows the same path as Footscray eventually I am sure it would be okay in the future.

I go into a lot of the houses for work, and the tenants are not so good and would be tough on the homes. I wouldn't bother renovating a rental. The Tuesday Herald Sun has report on the 'vibe' of the area. HS do play things up a little, but I think that this report is quite accurate.

I thought about purchasing there, but it would be my primary dwelling and I would hate living there. I choose to live further out in a nicer area with a new house.
 
Interesting thread. This is actually my first reply, so bare with me if my lingo isn't up to scratch ;o)

IMO, anyone with enough vision to appreciate Braybrook/Maidstone/Sunshine's proximity to the city, and future infrastructure plans would see that it is very undervalued, and could only go up. 8Km to the city, 10-15 min drive and well serviced. Yes, it has a less than glossy past, but gentrification is happening - I'm evidence of it.

Let me give you some background, my husband and I are both uni qualified professionals, lived in Camberwell for 6 years, had a small 2 brm unit. We then had children, I didn't want to continue to work, needed a bigger house. We didn't want to spend 2+hrs a day travelling to and from work (Looked at areas such as Knox, Berwick etc), so our attention was turned to the west. We were very quickly out priced from Yarraville/Seddon/Kingsville, and purchased a block of land in a new subdivision in Sunshine North. We built a 4 bed place for under $400k, and have already been able to dip into some excellent equity to fund an IP apartment near VU, with great returns.

I'm not going to lie and say it hasn't been an adjustment moving east to west, but all our neighbours share this exact story. Gosh, 10 years ago you wouldn't have let your dog live in Yarraville - now you'd be lucky to park your car there for less than $600k.

Anyway, not a realestate guru or anyhthing, but IMO, It's a long term investment area, the next 5-10 years will speak for it's self.

Cheers
 
I bought my first IP in Sunshine West 18 months ago for 285k, a 3 bedroom house. The bank valued it today at 330k. Sunshine is well serviced with shops schools and has great freeway and city access.
 
Well done for those who have jumped in and made money. My regret is that I did not do this at least 12 months ago, but fear got me.

What I find interesting is that if u want to make money you need to focus on land content and purchase a property which you can add value. What do you do all think?

There is very little stock that fits this criteria.

Cheers, MTR
 
MTR said:
Well done for those who have jumped in and made money. My regret is that I did not do this at least 12 months ago, but fear got me.

What I find interesting is that if u want to make money you need to focus on land content and purchase a property which you can add value. What do you do all think?

There is very little stock that fits this criteria.

Cheers, MTR
Click to expand...

Were have you been looking?
 
Braybrook is certainly on my radar.. my sister just moved a few k's down into Ardeer.. and that also seems to be an excellent spot - Very close to the ring road and deer park bypass, lots of young families and large blocks of land.

If you do a drive by in any of these areas you will see lots of development and new houses being built.. values are increasing and the demographics are certainly changing.
 
imonmyway said:
Were have you been looking?
Click to expand...

I have been purchasing in Broadmeadows and Glenroy, prices have moved by around 20%. What I am finding is blocks which can accommodate 3 unit development are snapped up by builders/developers.

What is also interesting is that some of the properties I have purchased I can now build 4 units due to rezoning in the area. (Hume Council)

I try to purchase something which I can add value to or is unique and in demand.

Braybrook sounds like it has great future potential for growth, however it will cost me more.

Also, thanks all for replies very helpful.

Cheers, MTR
 
Well done MTR. Broadmeadows has flown the last two years and Hume is pro-development for reasons of rates revenue. Glenroy is a nicer area and anything near the station benefits from Zone 1 train.

Can't offer you any info on Braybrook. I am not as familiar with the west however proximity to infrastructure and amenity will reap future gains. Look at the examples all around of other ugly duckling areas.

I picked Yarraville's potential in late eighties.........yet didn't follow my intuition :(

Sorry to digress from your thread, however well done on Glenroy and Broadmeadows. :)
 
Thanks Player. Now just to get a foot in the door again with Braysbrook would be great.

Are you currently investing in the Melb market?
 
Woulda.....Coulda.....Shoulda

MTR said:
Thanks Player. Now just to get a foot in the door again with Braysbrook would be great.

Are you currently investing in the Melb market?
Click to expand...

Sitting on the sidelines at present with a couple of loans coming off fixed soon. I have a couple of strategies for my steps moving forwrd from there and will depend on vals and what my LVR comfort level is at the time.

Looking more at comm at present, however if a decent multi door resi deal that ticks my boxes comes along, and washes it's own face as a minimum, then :D

I transacted for a family member in Broadmeadows 18 months ago and whilst I believe we bought well, the pecinct has gone nuts. I reckon 40 % gain in that peiod............shoulda bought one myself

...........woulda coulda shoulda.............:mad:
 
Well done.
I think there will be plenty of opportunities, sounds like you will be cashed up and roaring to go for it.

Good luck and all the best

Cheers, MTR
 
I made an offer to a double storey townhouse for $460k off the plan in 2010 and got rejected. I saw it was sold for $390k in 2012. Lucky me.
 
MTR said:
Well done for those who have jumped in and made money. My regret is that I did not do this at least 12 months ago, but fear got me.

What I find interesting is that if u want to make money you need to focus on land content and purchase a property which you can add value. What do you do all think?

There is very little stock that fits this criteria.

Cheers, MTR[/.
Yes add value
then it would help cashflow until area gets going then devolop I think suburb has potential

living in melbourne for a fair few years proximity to the city will end up the factor to make this suburb and the gentrification will end up making it appealing to people
Click to expand...
 
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