Caufield Nth to Highett any tips?

[dmlucky]

Just moved to Melbourne and want to do a minor upgrade and resell in 12 months. Considering anything south of Princess Hwy, east of Nepean Hwy and north of South Road within reasonable distance of a station, not on busy roads and under $900k.

Any tips for loactions that might have better CG than others in 12 months?

 

[rprodrive]

The description of location is hard to follow - "north of south road" rules out all of Highett.

Unfortunately you will struggle to find a house on a full block in Brighton East, Caulfield (including North, South) for $900k at the moment. I am in Caulfield South (avg street) and bulldoze houses on a 650sqm block are selling over $1m in the last few months. But if you find a smaller block things will be different - depends what you are looking for. Or if you are looking at a villa things are different again.

Ormond is not bad value and often around your price point (just) for a full sized block. Next would be to look at Mckinnon / Bentleigh.

Things are hot so you may find you need to push more east (such as Bentleigh East, Carnegie) to find something you like in your price range. Prices drop quite a bit once you get past East Boundary Road / Murrumbeena Rd.

 

[dmlucky]

Thanks reprodrive

Sorry description hard to follow. I did want to exclude Highett as didnt like what I saw in hunting for our previous purchase and prefer closer to Caufield South. May need to revisit as you suggest. Drove up and down streets yesterday rather than inspections and started to get more of a sense of what is happening in different suburbs and localities. Everything you say makes sense.

Did like one place that went to auction only 3 weeks ago just before I really started looking. Went for $855,000 on border Glen Huntly and Ormond, close to parks and trains so will concentrate there and McKinnon for a while. Once you narrow down the suburbs there is then the patchyness within that.

Thanks for the tips. Always hard for a while when moving interstate.

 

[Bigtone]

I would buy the worst and cheapest house in Hampton East. Slightly outside your area but beachside of Nepean hwy.

Place was an ugly ducking 10 years ago and is booming by being so close to Hampton, Brighton and Sandringham.

Something like this appeals to me.

http://www.realestate.com.au/property-house-vic-hampton+east-106454346?tm=1271062282&c=76633584

Good luck and let us know what and where u end of buying!

Cheers

Bigtone

 

[dmlucky]

Thanks and Hampton East and Glen Huntly compared

Thanks Bigtone

Recommendation does look good indeed, thanks! It definitely has more for the money than my best so far comparison which may be similar $.

http://www.domain.com.au/Property/For-Sale/House/VIC/Glen-Huntly/?adid=2008232465

We saw the auction for this Glen Huntly property at 1a Mackay Av before we were ready to buy. It was sold at auction for $855k with quite a bit going for it including a double auto garage which is hard to get and gives immediate expansion options. Reasonable reno and good garden with possibilities to open up. Main plus for us was location to train, parks and Caufield East.

Agree though that once Hampton East shakes off the ugly duckly will go like a rocket. Before we bought at Brighton East we saw a Linacre St Hampton property, not far from this, quoted $900k up, go for $1.4m - just up the road!

The growth potential could be greater if you are holding long enough - not sure on Melbourne yet??? for the ugly duckly sydrome to be shaken off. Agents of course tend to perpetuate this myth - smart buyers do their research.

 

[dmlucky]

Hampton East

I would buy the worst and cheapest house in Hampton East. Slightly outside your area but beachside of Nepean hwy.

Place was an ugly ducking 10 years ago and is booming by being so close to Hampton, Brighton and Sandringham.

Something like this appeals to me.

http://www.realestate.com.au/property-house-vic-hampton+east-106454346?tm=1271062282&c=76633584

Good luck and let us know what and where u end of buying!

Cheers

Bigtone

Thanks. Had a look at this one and certainly plenty of house for the money. Would make an excellent rental. The only resevation I have is price includes things of value that I dont like and will cost eg crappy kitchen and bathrooms. But you cant have everything so is on our short list.

Thanks for the tip Bigtone!

 

[KateMelb]

I'd steer clear of Glen Huntly - it's not appealling for owner-occupiers due to the disproportionate number of flats and units. The shopping strip is poorly maintained and there aren't any good schools or parks nearby (Caulfield Park is too far away). The train is often impossible to board in the mornings due to overcrowded carriages or not enough trains (the expresses roll straight past). Tram takes too long to get to the city.

Carnegie or Murrumbeena would be much better value at this stage (you'd probably be priced out of Ormond, Caulfield South and Caulfield).