Craigieburn
- Thread starter gobieraju
- Start date
Hi Gobbie,
Firstly hope you are well?
As an investment, I would be touching the area, there is so much vacant land in the area that its not even funny.
If you where looking at buying the property to live in then that's a different story.
No one will be able to tell you whats going to happen in ten years.
The world changes so fast!!
Firstly hope you are well?
As an investment, I would be touching the area, there is so much vacant land in the area that its not even funny.
If you where looking at buying the property to live in then that's a different story.
No one will be able to tell you whats going to happen in ten years.
The world changes so fast!!
Craigieburn is not a viable buy and hold investment area for the next 5 - 8 years. Too much stock, too much vacant land with no major growth fundamentals to increase demand.
It's an area where people buy cheap family homes that are often subsidised by developers as a marketing hook because they can't afford something as new/nice and as big closer to the city but want to buy now.
Over the very long term (20-30 years) I'd guess that it'd do well like the outer Eastern suburbs but for an investor it makes no sense at all (Unless you're the Stockland group.)
It's an area where people buy cheap family homes that are often subsidised by developers as a marketing hook because they can't afford something as new/nice and as big closer to the city but want to buy now.
Over the very long term (20-30 years) I'd guess that it'd do well like the outer Eastern suburbs but for an investor it makes no sense at all (Unless you're the Stockland group.)
I've been living in Craigieburn since 2010. I built my house 424K in 2010, now valued at 500K - got it valued a few weeks ago by CBA. It's not a bad area to be honest, but as others have said there's just way too many house & land type things going on everywhere. Having said that, a lot of new things keep popping up, like:
- $300m Craigieburn Central Shops
- Hume Global Learning Centre
- New Hockey Centre being built
- ARCARE 5 Star Retirement Village just completed
- Craigieburn Park being built (Aquatic/Leisure/Athletics Centre)
- Hume Tennis & Community Centre - Has 32 Tennis Courts
- Dozens of schools / child care facilities everywhere
Craigieburn for some reason gets a lot of negative comments, but I think it's built up quite a lot in the past 5 years - plus pretty quiet in general, I've never had any incidents at all since living there. It's also not as far from the city as people may thing. Door-to-door I get to the city in an hour, bus right in front of my house, then train...
A friend recently bought an investment property there (he also lives in Craigieburn), renting it out at $340, I belive he's actually neutral/positively geared.
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Gobie,
For investment, I'd go for the old "original" area near the station - not the new development north of Craigie Rd.
As a general rule, look in the are bounded by Craigie rd, the railway and Bridgewater rds.
Rail transport is good - unless someone gets run over at station
Check PTV for timetables.
The Y-man
Gobie,
For investment, I'd go for the old "original" area near the station - not the new development north of Craigie Rd.
As a general rule, look in the are bounded by Craigie rd, the railway and Bridgewater rds.
Rail transport is good - unless someone gets run over at station
Check PTV for timetables.
The Y-man
Hi Yman is there a reason why you advised old and original?
I've heard a few friends talking about Craigieburn recently as well as Sunbury
- Usually on bigger blocks than the new subdivision
- Closer (walk) to station
- Better price per sqm of land equivalent.
- Easier to negotiate ("What? You want $x for this piece of run down rubbish heap?")
etc
The Y-man
Hi Jake,
Craigieburn does look affordable compared to Sydney prices.
Merrifield is also being developed, north of Craigieburn. I suppose you would advise investors to stay away?
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