hi guys, I was after some opinions about Cheltenham Vic 3191. Seems close to the beach, and next door to the pricy suburbs so thinking there would be some ripple effects. Looks like has already gone up in value but do you think there is more growth left in it? Highett gone up heaps and imo Cheltenham is a nicer spot.
Cheltenham Vic 3191
- Thread starter Stockwhizben
- Start date
I think you could be onto a winner there. Decent cafe's moving in, lots of apartments going up. Cheltenham has undergone a lot of change over the past 5+ years and as you say it could benefit from the ripple effect from its neighbours for years to come. I think it's just the beginning for Cheltenham. Just try and stay as close to the train station as possible, it's not great over near Warrigal Road.
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Really depends on what type of asset your considering.
The average age in Cheltenham is 40 years old.
Most households are families with one or two children.
Average weekly income per household is ~$1200.
So they'll expect to pay around 360-460/wk in rent.
So basically what fits that demographic for future buyers and current rental demand is either a 3BR villa unit close to schools and amenities or a 3/4BR House.
Prices for these types of properties vary greatly depending where in the suburb you buy but I'd suggest aiming for a price bracket of 550k-700k is where'd you want to be depending on the asset type.
I'd suggest staying away from apartments in this area.
The average age in Cheltenham is 40 years old.
Most households are families with one or two children.
Average weekly income per household is ~$1200.
So they'll expect to pay around 360-460/wk in rent.
So basically what fits that demographic for future buyers and current rental demand is either a 3BR villa unit close to schools and amenities or a 3/4BR House.
Prices for these types of properties vary greatly depending where in the suburb you buy but I'd suggest aiming for a price bracket of 550k-700k is where'd you want to be depending on the asset type.
I'd suggest staying away from apartments in this area.
Cheltenham's postcode 3192 not 3191 (Sandringham)! important if you're looking at vacancy rates etc.
Good pockets are 'Beach side' of Nepean Hwy.
Close to train station, proximity to Southland, great primary school, DFO, Moorabbin Airport, Golf Courses, close to beach and abundance of private schools in next suburb of Mentone.
The only real bummer is access to freeways, if you're driving to the City it's a pain travelling up Nepean. Beach Rd these days is not much better.
Great location and there is a bit of development happening, especially with some new apartment buildings around Charman rd. Some nice size blocks on with older houses too.
If they ever end up putting that train station in at Southland, then the area boarded by Reserve Rd, Park Rd and Bay Rd should go really well. I think I read there is a big development going ahead off Jacks Rd and Reserve rd
Good pockets are 'Beach side' of Nepean Hwy.
Close to train station, proximity to Southland, great primary school, DFO, Moorabbin Airport, Golf Courses, close to beach and abundance of private schools in next suburb of Mentone.
The only real bummer is access to freeways, if you're driving to the City it's a pain travelling up Nepean. Beach Rd these days is not much better.
Great location and there is a bit of development happening, especially with some new apartment buildings around Charman rd. Some nice size blocks on with older houses too.
If they ever end up putting that train station in at Southland, then the area boarded by Reserve Rd, Park Rd and Bay Rd should go really well. I think I read there is a big development going ahead off Jacks Rd and Reserve rd
I drove past last week, it's huge. Almost looks like a new suburb going in. I think it would be a great place to live.
