Clayton suburb

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From: Saibaba Saibaba


Hi All,

I am thinking of buying an investment property in either a brand new unit(3Br) or an old house in Clayton area of Victoria state.

Please advice me about the advantages and disadvantages of this suburb.

Gan
 
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Reply: 1
From: Michael Yardney


You will find Clayton an affordable suburb - houses are relatively cheap but have a look at the REIV web site and check out the capital growth in the area, you will find that other areas have done better over the years.
You will also find the area has a bit of a history of crime and drugs and may not attact the type of tenants you would like.
It's not as if people wake up and say too themselves -"boy I want to buy (or rent) a house in Clayton this week!"
Michael Yardney
Metropole Properties
 
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From: Anonymous



Yes, & no... Prices went up quite lot after the university was built (Monash) and the Alfred Hospital moved location out to Clayton. But I think that wave of increase has passed.

Depends on why you'd buy there. I think there's fairly strong rental demand because of the uni and the hospital, but for capital growth I'd agree with Michael Y and think there are more desirable suburbs. (I lived in Clayton for quite a few years and I concur - have never woken up one morning and said, hmm, I'd really like to live there again!).
 
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