crap burbs gone good over time.

[craigb]

I am interested to know .
Howmany suburbs were once real crappy and have now gone good ,
As a kid i grew up in Kingston , this was housing trust homes single mums and some safe houses for women, its now well and trully M$ property, what has happened that changed this , that you have noticed .

 

[VYBerlinaV8]

Rivett is current undergoing a similar change, as is Ainslie.

 

[meconium]

Definitely Frankston, and possibly Seaford.

Frankston is one of Australia's cheapest beachside suburbs with most houses on development sized blocks. ie. you can pull down an existing house and replace it with two new units.

Although much maligned for being a poorer area Frankston has done OK
over the years. However, there is much more to come.

When people say the entire Aussie real estate is buggered, I smile politely and think of the capital gains I am making in Frankston. It will only get better when the new highway is completed, not to mention the marina (this has taken ages to get approval and although construction is still years away, the government wants it to go ahead).

 

[evand]

Usually suburbs that go from bad to good. Or cheap to expensive are near the CBD and are subject to gentrification. Like Kingston in the ACT, Surry Hills in Sydney, Fitzroy in Melb etc.

If they are away from the CBD, like Frankston, the process is mush slower, if at all.

 

[craigb]

Evand , there has been some interesting changes in canberra as they do urban infill in canberra , there is a noticable change to the values on established burbs compared to the new ones ,

higgins as eg, was avg 300k and the new macgreger? spell??? shifted those prices by up to 30% within a year and the comarables ie apples to apples ment that the older burbs had dbl the land size and the value added stock became valued nearer the new cottages as per the build price they sold for , as mentioned before , weston area i expect to increse as the new molonglo, putters along, i would expect so see another 30% rise in these old burbs also based on the old sized blocks Vs the little new ones .

 

[Ausprop]

south perth and subiaco come to mind. Re south perth, I am told the 'poor' people use to live down near the waters edge, close to the tip and swamp with all the mozzies.

 

[aul]

any thoughts on Auburn in Sydney???

 

[Andrew_A]

Take your pick of inner city suburbs in Brisbane.

South Bank, West End, New Farm etc. Benefited from the demographic shift back to the CBD.

 

[Jamie M]

Evand , there has been some interesting changes in canberra as they do urban infill in canberra , there is a noticable change to the values on established burbs compared to the new ones ,

higgins as eg, was avg 300k and the new macgreger? spell??? shifted those prices by up to 30% within a year and the comarables ie apples to apples ment that the older burbs had dbl the land size and the value added stock became valued nearer the new cottages as per the build price they sold for , as mentioned before , weston area i expect to increse as the new molonglo, putters along, i would expect so see another 30% rise in these old burbs also based on the old sized blocks Vs the little new ones .

Yep, good point. Those small 400m2 blocks that sell for a small fortune should put upward pressure on the value of those larger "old school" blocks in the neighbouring, established suburbs.

Cheers

Jamie

 

[Tesla Rules]

Like to add Eastwood/Marsfield (North Ryde) in Sydney.
Used to have housing commission. All been redeveloped now.
When I bought property in late 80s everyone sneered and smirked and mocked.
Now - general response to owning an IP in this area prompts remarks of envy - not the derision of decades past....

 

[lizzie]

Benefited from the demographic shift back to the CBD.

same with newcastle ... 20 years ago everyone moved out to the "new" suburbs. now that the suburbs are no longer new, many want to move back into town for convinience.

all middle/inner cbd suburbs are being gentrified.

 

[wisty]

same with newcastle ... 20 years ago everyone moved out to the "new" suburbs. now that the suburbs are no longer new, many want to move back into town for convinience.

all middle/inner cbd suburbs are being gentrified.

Also, look for uni students. If a lot of uni students rent in a poor area, they tend to say a while after they start working, bringing in a bit of money.

 

[BayView]

I am interested to know .
Howmany suburbs were once real crappy and have now gone good ,
As a kid i grew up in Kingston , this was housing trust homes single mums and some safe houses for women, its now well and trully M$ property, what has happened that changed this , that you have noticed .

St.Kilda
Williamstown
Port Melbourne

On the flip side - Box Hill used to be good, but is now a dive.

 

[santaslayer]

Alexandria NSW
Redfern NSW
Marrickville NSW

 

[Peter Parker]

St.Kilda
Williamstown
Port Melbourne

On the flip side - Box Hill used to be good, but is now a dive.

I wonder if this impression is based on poorer performance of property values compared to surrounding suburbs (eg Blackburn, Surrey Hills, Forest Hill, Box Hill North etc) or just what you see on the streets.

Almost every property investing book and guru says to buy near jobs and infrastructure.

Box Hill has this in spades, being a hub for transport, health, education and local government.

It follows then that Box Hill ought to have been high on people's list for suburbs that ought to appreciate better than others.

If this is not the case, and Box Hill has underperformed, is it worth reappraising some of these theories?

Or maybe Box Hill is a less extreme example of the Dandenong or Footscray donut effect, where although a centre has many amenities it's still a slum, and for residential purposes it's the suburbs 2 - 4 km from them that are quieter and more highly sought after?

 

[BayView]

I wonder if this impression is based on poorer performance of property values compared to surrounding suburbs (eg Blackburn, Surrey Hills, Forest Hill, Box Hill North etc) or just what you see on the streets.

Almost every property investing book and guru says to buy near jobs and infrastructure.

Box Hill has this in spades, being a hub for transport, health, education and local government.

It follows then that Box Hill ought to have been high on people's list for suburbs that ought to appreciate better than others.

If this is not the case, and Box Hill has underperformed, is it worth reappraising some of these theories?

Or maybe Box Hill is a less extreme example of the Dandenong or Footscray donut effect, where although a centre has many amenities it's still a slum, and for residential purposes it's the suburbs 2 - 4 km from them that are quieter and more highly sought after?

I'm not talking about the performance of the properties - I'm talking about the standard and livabilty of the area.

The demographic has changed there over the last 20 or so years.

 

[G_Man]

I'm not talking about the performance of the properties - I'm talking about the standard and livabilty of the area.

The demographic has changed there over the last 20 or so years.

So 20 years ago Box Hill was good?
And now, why isn't it "good"?

Just curious..

 

[BayView]

So 20 years ago Box Hill was good?
And now, why isn't it "good"?

Just curious..

When I lived there in the early '90's int was on a downward slide already. I lived there for about a year becuase it served a (geographical) purpose at the time. I moved out as fast as I could.

If you want to know why, go for a visit.

 

[Pixie]

When I lived there in the early '90's int was on a downward slide already. I lived there for about a year becuase it served a (geographical) purpose at the time. I moved out as fast as I could.

If you want to know why, go for a visit.

what are you trying to imply? what is wrong with the hub?

 

[Melbournian]

When I lived there in the early '90's int was on a downward slide already. I lived there for about a year becuase it served a (geographical) purpose at the time. I moved out as fast as I could.

If you want to know why, go for a visit.

Is that because it is traffic congestion? or is there other underlying factors.