Braybrook, melbourne

[suffragette]

Hi guys
i'm researching areas around melbourne to purchase my ppor, and found braybrook. i find it strange that a suburb so close to melb (10-11km) surrounded by booming suburbs ie.footscray, has a low median (262.5K).
am i missing something? is it because there's a bad stigma attached to it?

thanks in advance!

ps: i tried searching the forum, but there's not much talk about this area.

 

[our obsession]

Braybrook in 1994 had a median house price of: $69,000.....by 2004 it's MHP went to: $231,500, so that is a change of: 236%, and you say the median is now 2007: $262,500..

In the historical growth pattern and top performing suburbs across Melbourne 1994-2004 below is the result for Western Suburbs, indicating how strong a performer Braybrook was:

Braybrook: Change 1994-2004: 236%....Growth PA:12.9%....Change from 2003 to 2004: 8%......with Median Price 2004: $231,500

Yarraville: Change: 232%.......12.7% Growth PA......Change from 2003 to 2004: minus 3%.....MHP: $345,005

Footscray: 226% ......12.6%........2%............$310,000

West Footscray:.....221%...12.4%.....minus 2%......$305,000

Maidstone: .......217%.........12.2%........1%..........$285,000

All these figures are from Victorian Valuer-General.

It certainly has come off a low base; at $69,000.

Yarraville came from: 1994 $104,000

Footscray from: $95,000

West Footscray: $95,000

Maidstone: $90,000

 

[auzieblogger]

One of the things you should think before buying in such a suburb:-
a) Would you yourself live in this area ?
b) If Yes, how much would you expect to pay rent ?
c) If No, move on and find such an area

Just my 2c

 

[Bandita]

Hi Suffragette,

Here's a link to a previous thread on Braybook to give you an idea why it's so cheap - it's pretty rough and industrial, but that doesn't mean it won't show growth....

Cheers,
Jen

http://www.somersoft.com/forums/showthread.php?p=252201&highlight=braybook#post252201

 

[suburbangirl]

Yes, it's close to the city, but there's lots of public housing in Braybrook, and certain streets I wouldn't even drive through.

Personally, as an IP I might consider it, but for a PPOR, I'd look elsewhere.

But that's just moi...!

 

[asy]

I used to live in Braybrook, on the corner of South Road and Duke St. Yup, bang in the 'heart' of Braybrook. In a little flat, above the shops. It was great.

Yeah, there were 'rough carachters' but hey, they aren't so bad.

The area is sooo magnificently located it's not funny.

The one thing I'd say to watch is the fact that a lot of the houses are older asbestos fibro's, I'd steer clear of these on the whole because renovating at any later time might be an issue. However, if you're prepared for the additional removal cost of the asbestos if you do ever want to renovate, it might be a good way to cheaply get into the area.

It is my belief, and ONLY my belief (I could very well be wrong, for goodness sake, don't buy on my say-so!) that next price rise the disparity between Braybrook and the surrounding areas will even out.

asy

 

[timmyboy]

It is my belief, and ONLY my belief (I could very well be wrong, for goodness sake, don't buy on my say-so!) that next price rise the disparity between Braybrook and the surrounding areas will even out.

asy

For prices to even out, is Braybrook going up, or the surrounding areas going down...
For mine, I believe (with fingers crossed) that the suburbs out that way are on the up - braybrook included. They have to catch up with their more exclusive suburban cousins on the east side sometime ..... don't they ??

Tim

 

[TheCamel]

One of the things you should think before buying in such a suburb:-
a) Would you yourself live in this area ?
b) If Yes, how much would you expect to pay rent ?
c) If No, move on and find such an area

Just my 2c

I don't necessarily agree with your points.

I might buy an IP in an area i wouldn't want to rent in myself, just as i might buy a property to live in, that i wouldn't pay to rent..

 

[suffragette]

Hi Suffragette,

Here's a link to a previous thread on Braybook to give you an idea why it's so cheap - it's pretty rough and industrial, but that doesn't mean it won't show growth....

Cheers,
Jen

http://www.somersoft.com/forums/showthread.php?p=252201&highlight=braybook#post252201

thanks jenD
i did have a look at that link... was thinking maybe it has changed (since that link was from 2006)... i will have a drive through on the weekend,inspect a few houses, then judge for myself.... i do like maidstone suburb, but not so much footscray.... dont feel very safe there

 

[willy008]

you should go for a drive threw there and see what you think of the place
i use to live in sunshine a while ago and braybrook was a lot more rough
it could of changed but i dont really think so