East vs West Melb % Growth

[leicachamp]

Has anybody got data on the percentage growth between the East and West of Melbourne.

A few years ago a fellow Somersoft member showed that there was not much difference between the East and western suburbs in relation to growth.

This time around i do feel that the East is outpacing the West.

When i say East i mean a High worth suburb such as Glen Waverly, Balwyn Etc.

For the west a suburb such as Sunshine, Maidstone.

So this could also be called High end vs Low end % growth!

Thanks in advance for any info.

 

[pickle pickle]

Play around with this.

http://www.realestateview.com.au/po...rice&state=victoria&suburb=sunshine&postcode=

http://www.reiv.com.au/property-research/median-prices

 

[Jake Milne]

This isn't a comparison but interesting none-the-less.

Last Quarter's growth suburbs:

Suburb / Quarterly Change
KEW 18.20%
CARLTON NORTH 17.40%
DROMANA 16.50%
NORTHCOTE 16.40%
DANDENONG NORTH 14.00%
HAWTHORN EAST 13.70%
THOMASTOWN 13.00%
WILLIAMSTOWN 12.50%
RICHMOND 12.10%
GLEN IRIS 12.10%
MOUNT MARTHA 11.90%
PORT MELBOURNE 11.60%
ASPENDALE 10.80%
BLACKBURN SOUTH 10.80%
IVANHOE 10.80%
MARIBYRNONG 10.50%
HAMPTON 10.30%
BRUNSWICK WEST 10.10%
BORONIA 10.00%
BAYSWATER 10.00%

Source: REIV

 

[The Y-man]

Right, that's it, going to stop bagging Dandy North... even if my car gets stolen while inspecting properties....

The Y-man

 

[jippa3000]

Right, that's it, going to stop bagging Dandy North... even if my car gets stolen while inspecting properties....

The Y-man

Haha Y-man, had this conversation with a client yesterday, there are parts of it that I wouldn't be game to walk around but up near the private hospital (I think it's Outlook Dr) and the area north of lyndale are actually really nice. Good freeway access with big blocks.

 

[oc1]

Haha Y-man, had this conversation with a client yesterday, there are parts of it that I wouldn't be game to walk around but up near the private hospital (I think it's Outlook Dr) and the area north of lyndale are actually really nice. Good freeway access with big blocks.

Yep that's the area. Looks more like Mulgrave than Dandenong. No change from half a million these days.

 

[leicachamp]

Thanks for the links. It does seem that the east is outpacing the west the last five years.

Is there any sites that can plot back further than 5 years? Be interesting to see if the lower priced suburbs catch up in % growth in the long term. From memory prior to 2009 suburbs such as sunshine, st albans was growing at a tremendous rate a year or so after the East/Higher priced suburbs boomed. I recall that the West was the darling of the property market around 2007 where it was outpacing the east.

My memory is quite bad lately and all the above could be just be my romantic memory of the past.

Play around with this.

http://www.realestateview.com.au/po...rice&state=victoria&suburb=sunshine&postcode=

http://www.reiv.com.au/property-research/median-prices

 

[jpcashflow]

Hi

Hi,

I think stats are great but you have to look at a few factors:

1) Entry cost into the east are far greater then the west, but how do rental yields differ?

2) Also the market 10 years ago is way different to what the market is now, so growth rates may or will change in the near future.

3) Looking at tables or data is great but true growth is buying the right property at the right price and selling at the right time

 

[Truly Exotic]

In my experience,

- in terms of % its roughly the same over medium to long term
- however, a $500k property increasing to $1m sounds far more impressive then $250k becoming $500k
- East vs west goes in different time cycles, usually the east starts going up, whilst the priced out ones start considering the west
- media wont sell papers if they say "whoa, Dandy went from $200k to $300k in a 1 year" theyd rather say "whoa, kew went up from $2m to $2.8m"

if you can time/ strategise it well, I think both sides can be a winner


ps: check out this one last week
well over $2000 per sqm,
http://www.realestate.com.au/property-house-vic-doncaster+east-119282075
prices still rocketing in the asian areas, I personally would stay well away from it for an investment perspective

 

[jippa3000]

Thanks for the links. It does seem that the east is outpacing the west the last five years.

Is there any sites that can plot back further than 5 years? Be interesting to see if the lower priced suburbs catch up in % growth in the long term. From memory prior to 2009 suburbs such as sunshine, st albans was growing at a tremendous rate a year or so after the East/Higher priced suburbs boomed. I recall that the West was the darling of the property market around 2007 where it was outpacing the east.

My memory is quite bad lately and all the above could be just be my romantic memory of the past.

Not to sure if there are any sites showing the growth specifically but if you can navigate the ABS website its got a tonne of info.

In regards to catch up, this is exactly what we have been seeing. Prices are hit their ceiling, things start to plateau and its onto the neighboring suburbs, and so on. For the east/sth east started off around Armadale/Malvern maybe 15 years ago, and is slowly moving out where we are hitting places like Boronia and Dandy Nth (who would have thought).

I have posted this a few times but it rings true so many times. In the link have a look at available land in the South east compared to the North and West...
http://www.mpa.vic.gov.au/wp-content/Assets/Files/Map of Urban Growth Zone - September 2012.jpg

Also have a good read on the site, heaps and heaps of info.

Happy reading.

 

[jippa3000]

Yep that's the area. Looks more like Mulgrave than Dandenong. No change from half a million these days.

You're not wrong, people would have thought you were mad buying in there 10 years ago but what a buy it would have been.

We had a tiny unit in the not so good area opposite Oasis which we got rid of in Jan because the place need a complete make over externally but body corp wasn't up for it. Anyway we did pretty well in the 10 years we had it

 

[lauranguyen]

Tarneit Grwth

Thanks for the links. It does seem that the east is outpacing the west the last five years.

Is there any sites that can plot back further than 5 years? Be interesting to see if the lower priced suburbs catch up in % growth in the long term. From memory prior to 2009 suburbs such as sunshine, st albans was growing at a tremendous rate a year or so after the East/Higher priced suburbs boomed. I recall that the West was the darling of the property market around 2007 where it was outpacing the east.

My memory is quite bad lately and all the above could be just be my romantic memory of the past.

Hello,

How can you say about Tarneit, i am in syd,

Looking for investment in Melbounne, then pick up Tarneit

Please give me the advise

Thanks

 

[Deltaberry]

In general East has absolutely smashed the west, but early days

 

[willister]

In general East has absolutely smashed the west, but early days

Even more stark when you compare proximity between East and West suburbs. Say you cannot compare a Glen Waverley (19-20 kms from CBD) to a Maribrynong (8-9 kms from CBD).

Not being a East snob but having grown up in both St. Albans and later living in Glen Waverley (mid 20s) I've found some physical things that cannot really be changed (and perhaps why it reflects in prices and attitudes):

1. West is mainly flat, Inner East and even Middle East Melbourne generally is hillier and has more lush greenery.
2. Barkers Road - Private School belt, majority of other well known schools scattered in East. Then you have the likes of Balwyn, Glen Waverley High and McKinnon High in the East/South East.
3. West seems like a transit longue - many live here for affordability then move out generally to the East once they have enough $.
4. Bike tracks seem more connected to the CBD from the East?
5. Not sure how true - was told by an architect mate that most of the West except inner west has volcanic lava as the ground whereas East is mostly soil.

I compare the Inner East and Mid East to something like German car brands - it takes years to build that reputation and even if it's technically inferior to the West in some aspects, people still prefer it if they are spending that many $ on a house.

It would be interesting to remove bubble suburbs (e.g. Glen Waverley) and compare the regions.

 

[littletee]

Even more stark when you compare proximity between East and West suburbs. Say you cannot compare a Glen Waverley (19-20 kms from CBD) to a Maribrynong (8-9 kms from CBD).

Not being a East snob but having grown up in both St. Albans and later living in Glen Waverley (mid 20s) I've found some physical things that cannot really be changed (and perhaps why it reflects in prices and attitudes):

1. West is mainly flat, Inner East and even Middle East Melbourne generally is hillier and has more lush greenery.
2. Barkers Road - Private School belt, majority of other well known schools scattered in East. Then you have the likes of Balwyn, Glen Waverley High and McKinnon High in the East/South East.
3. West seems like a transit longue - many live here for affordability then move out generally to the East once they have enough $.
4. Bike tracks seem more connected to the CBD from the East?
5. Not sure how true - was told by an architect mate that most of the West except inner west has volcanic lava as the ground whereas East is mostly soil.

I compare the Inner East and Mid East to something like German car brands - it takes years to build that reputation and even if it's technically inferior to the West in some aspects, people still prefer it if they are spending that many $ on a house.

It would be interesting to remove bubble suburbs (e.g. Glen Waverley) and compare the regions.

HA that's exactly what I done. Bought in Ardeer (pocket in Sunshine - West) in 2009 at a bargain price and then developed. Developed Ardeer and built enough equity to now bought and developing a ripper duel occ in Rowville (East) because we have enough money now and that's where I want to bring up my kids.

So I've lived the best of both worlds and whereas I think the West (I mean Braybrook, Sunshine, Albion, Ardeer) still has the best value real estate in Melbourne to proximity to CBD, I would prefer to raise my kids in the East without a doubt. However, if I could invest for the long term I'd be buying back in the West 100% if I could.

 

[willister]

HA that's exactly what I done. Bought in Ardeer (pocket in Sunshine - West) in 2009 at a bargain price and then developed. Developed Ardeer and built enough equity to now bought and developing a ripper duel occ in Rowville (East) because we have enough money now and that's where I want to bring up my kids.

So I've lived the best of both worlds and whereas I think the West (I mean Braybrook, Sunshine, Albion, Ardeer) still has the best value real estate in Melbourne to proximity to CBD, I would prefer to raise my kids in the East without a doubt. However, if I could invest for the long term I'd be buying back in the West 100% if I could.

The fact that you want to raise your kids in the East confirms my East-West theory all along and I keep mentioning this when the topic is brought up in conversations with friends/family/colleagues.

The West (Sunshine/Ardeer/Braybrook etc.) will perhaps turn out to be like Brunswick, Coburg etc. (inner north east) attracting a certain demographic - investors who want to buy there but not LIVE there and young couples without kids yet who want easy access to the CBD.

Whilst the gap may close one day with the Eastern suburbs (vis a vis same proximity suburbs) I don't think it will ever be as desirable.

 

[jpcashflow]

Hi

Hi,

I think the market is red hot in most areas as the moment... so east or west not going to matter much at the moment.

The key is buying a good property at the right price!!

 

[strongy1986]

The fact that you want to raise your kids in the East confirms my East-West theory all along and I keep mentioning this when the topic is brought up in conversations with friends/family/colleagues.

The West (Sunshine/Ardeer/Braybrook etc.) will perhaps turn out to be like Brunswick, Coburg etc. (inner north east) attracting a certain demographic - investors who want to buy there but not LIVE there and young couples without kids yet who want easy access to the CBD.

Whilst the gap may close one day with the Eastern suburbs (vis a vis same proximity suburbs) I don't think it will ever be as desirable.

I can't ever see these suburbs as being anything like Brunswick

The inner north is nothing like the mid west

I do agree on the potential though

 

[willister]

I can't ever see these suburbs as being anything like Brunswick

The inner north is nothing like the mid west

I do agree on the potential though

Sorry my mistake, I was meant to refer to Footscray not the mid West.

 

[littletee]

Yeah definately don't want my kids to grow up here but it's going through a lot of gentrification in this area and whilst it'll never be a Brunswick, I think in years to come it'll still continue to go strongly due to the proximity to the CBD.

As soon as I sell my current Townhouse in Ardeer (going on the market soon) and then complete my next development in Rowville, I'll be looking to re-invest straight back in to this area (Braybrook/Sunshine/Sunshine West/Sunshine North/Albion/Ardeer) and hold for the future.

Good Luck All