Dandenong North is now half million suburb

[hombie]

Not sure if many have noticed but there seems to be an unusual pickup in the Dandenong North market e.g. recent sales - standard old 3/2/2 family homes for ~$470k (just ordinary homes without any extra).

http://www.realestateview.com.au/Re...roperty-Details-sold-residential-7623536.html
http://www.realestateview.com.au/Re...roperty-Details-sold-residential-7500527.html

Previously half a million sales have only taken place in the hilly Outlook estate which has views, but it seems now even ordinary locations have reached this price tag. Not sure what factors are behind this acceleration in buyer activity.

 

[LoneWolf]

Look along stud rd, there are many half a million suburbs not too far ahead from Dandy north
Also Dandenong north is also closer to Monash hwy entrance

 

[hombie]

Look along stud rd, there are many half a million suburbs not too far ahead from Dandy north
Also Dandenong north is also closer to Monash hwy entrance

I agree that Knox already had this price tag but Dandenong North's ordinary 3/2 houses on average streets reaching this price is certainly exceptional and unheard of. I have been tracking Dandenong North market from few years, this is the first time it is closing to half a million.

Looks like the stigma is going away and people have started to value Dandenong for its convenience and proximity. May be the working class which is priced out of Mulgrave and Rowville has started to move there.

 

[LoneWolf]

I agree that Knox already had this price tag but Dandenong North's ordinary 3/2 houses on average streets reaching this price is certainly exceptional and unheard of. I have been tracking Dandenong North market from few years, this is the first time it is closing to half a million.

Looks like the stigma is going away and people have started to value Dandenong for its convenience and proximity. May be the working class which is priced out of Mulgrave and Rowville has started to move there.

Only a few years ago, I remember asking price been below 400's for the area for similar stuff

You would have missed this boat by now IMO

 

[TMNT]

what do you guys think of the whole dandeong area in terms of future cg

yes its ugly, yes its rough,

but with many suburbs of the west melbourne, eg st albans, deer park all seem to be almost booming,

I feel that dandeong is next

 

[sumterrence]

I've been looking at Dandenong for a while, I do agree it is relatively cheaper and its close to the CBD, but the rental return is so crap........ this to me it's an indication of over supply is still there.........with more units being built in the CBD, this might drag on for a longer while.....maybe building a china town there would help?