Hi All,
Suffering from a bit of first IP buyer's nerve and need some wise words from those who've been there and done it.
I've done a bit of research on Yarraville on the net and also on this forum and there's a lot of good talk about the suburb.
In light of that we decided to go and see this one bedroom unit on Williamstown Road advertised for $229,500.
http://www.realestate.com.au/cgi-bi...r=&cc=&c=54015227&s=vic&snf=rbs&tm=1244271995
It's a private sale and we've been advised by the Agent to put forward an offer if we're interested (because it's going to be sold by the end of the day). Is the price range ($229,500) right for a one bedroom unit in the area (just don't want to be overpaying)?
I found a few recent sold one bedroom properties in Yarraville below:
9/18 Tongue St, Yarraville Unit 4 Apr 2009
Auction $245,000
Sold for $211,000 Saturday 16-May-09
1/37 SOMERVILLE ROAD YARRAVILLE
Seems to be a big spread in price no doubt due to the location and condition of the unit. I've also inspected a few other one bedroom units in Yarraville and the Agents were asking for $240K+
Any pro's and con's about Yarraville or in particular this one bedroom unit? We are looking for a mix of capital growth and rental yield and Yarraville seems to offer this. Agent says we can expect up to $220/week in rent for this one.
The figures seem to be very good for Yarraville in terms of long term growth.
http://www.investsmart.com.au/property-research/VIC/3013/Yarraville.asp
Median Price $360,000
12 Month Price Growth 1.0%
Rental Yield 3.8%
Long-term Trend 14.23%
Any input would be greatly appreciated.
Thanks.
Suffering from a bit of first IP buyer's nerve and need some wise words from those who've been there and done it.
I've done a bit of research on Yarraville on the net and also on this forum and there's a lot of good talk about the suburb.
In light of that we decided to go and see this one bedroom unit on Williamstown Road advertised for $229,500.
http://www.realestate.com.au/cgi-bi...r=&cc=&c=54015227&s=vic&snf=rbs&tm=1244271995
It's a private sale and we've been advised by the Agent to put forward an offer if we're interested (because it's going to be sold by the end of the day). Is the price range ($229,500) right for a one bedroom unit in the area (just don't want to be overpaying)?
I found a few recent sold one bedroom properties in Yarraville below:
9/18 Tongue St, Yarraville Unit 4 Apr 2009
Auction $245,000
Sold for $211,000 Saturday 16-May-09
1/37 SOMERVILLE ROAD YARRAVILLE
Seems to be a big spread in price no doubt due to the location and condition of the unit. I've also inspected a few other one bedroom units in Yarraville and the Agents were asking for $240K+
Any pro's and con's about Yarraville or in particular this one bedroom unit? We are looking for a mix of capital growth and rental yield and Yarraville seems to offer this. Agent says we can expect up to $220/week in rent for this one.
The figures seem to be very good for Yarraville in terms of long term growth.
http://www.investsmart.com.au/property-research/VIC/3013/Yarraville.asp
Median Price $360,000
12 Month Price Growth 1.0%
Rental Yield 3.8%
Long-term Trend 14.23%
Any input would be greatly appreciated.
Thanks.