FHB: Truganina, Tarneit, Altona Meadows, Point Cook

yeah.....i certainly wouldn't put all my eggs over there nor would i put my ppor there!

i reckon in the long long run it would be a great investment, say in 5-10 years time, I wouldn;t be surprised if the prices were the top of the west and getting close to the east.

I don't want to start a east vs west argument, but due to its proximity in even 20 years , i think we may look back and say, why didnt we buy!

just my 2c
 
i reckon in the long long run it would be a great investment, say in 5-10 years time, I wouldn;t be surprised if the prices were the top of the west and getting close to the east.

I don't want to start a east vs west argument, but due to its proximity in even 20 years , i think we may look back and say, why didnt we buy!

just my 2c

i do agree with the above, atleast in my head i am thinking long term as a family home, i do believe the prices have come down slightly and this has helped me to step in the market.

Believe it or not, i have seen 3 properties sell within a week in PC priced between $630 ~ $640-, two were in Innisfail, one in Alamanda, and these properties do have a selective market as they were all double story 35 square + homes which normally do not sell that quick.

Not sure what the story with PC town center is
 
The Town Centre is expected to fetch in excess of $200m.

I read an article stating the owners Walker Corporation were consolidating their Victorian property portfolio that is why it's on the market.

As for the turn over of businesses, the ones closing down are the type you would expect a high turnover on. So no big deal there.
 
The Town Centre is expected to fetch in excess of $200m.

I read an article stating the owners Walker Corporation were consolidating their Victorian property portfolio that is why it's on the market.

As for the turn over of businesses, the ones closing down are the type you would expect a high turnover on. So no big deal there.

what does consolidating their property port folio mean to walker corp at this scale and stage of the development
 
I imagine it's partly because Ron Walker needs some cash to develop those ex-green wedges that he lobbied his Brumby Government buddies to re-zone.
 
ok, lets consider it from a purely investment perspective without any extrenuating circumstances,

so you've got rental of $13 mill pa, based on 7% return its worth $200mil

are tennants paying their rent, sort of, but for every one going under there will be a new one coming in

yields seem about right

are there any major shopping centres being built in the near future that might jeorpardise growth majoryly, (williams landing eventually maybe, or werribbee)

I believe in 5 -10 years time there will be massive growth so from an investment perspective, I reckon it would be a goer, unless im missing something signifiant
 
You're probably right. But the problem with these large shopping centres is banks shy away from funding them - so it's hard to get finance. From the listing they seem to have a Woolworths - but are they on a free-rent deal for the next 5 years? At which they might relocate to another nearby shopping centre and kill all your traffic? Gotta consider all these factors
 
Williams Landing was touted from the very beginning as an investors dream suburb, shopping precinct going up, train station planned and all that close to a freeway and guess what? BANG, huge price. I cannot believe some of the prices there at the moment.

Yep, looks like those looking at WL may have missed the boat. We bought our block about 18 months ago, 780sqm for $236k (resale, not from a release), now you are looking at $370k for blocks which are 130sqm smaller.

I would imagine prices will stabalise in WL, atleast until they start major works on the train station and town centre. Then I would not be supprised to see another boom.

Some data I have found regarding WL sales from over the last 3 releases.

14/08/2010
400 m2 $276000
448 m2 $289000
512 m2 $317000
629 m2 $357000
651 m2 $364000

06/11/2010
392 m2 $276000
448 m2 $296000
512 m2 $325000
545 m2 $332000

05/02/2011
392 m2 $285000
400 m2 $292000
448 m2 $305000
512 m2 $335000
 
I live around the area and have only recently moved to Melbourne but my impression of the town centre is that it is nice but it's stupid having something like that in Melbourne where it is windy/rainy basically 90% of the time. They should've constructed a proper covered shopping centre. As it stands now the weather can affect where people walk to and the distance from the shops. I mainly go to Woolies and would explore other stores but since they're in different buildings I don't even bother.

my 2c
 
I live around the area and have only recently moved to Melbourne but my impression of the town centre is that it is nice but it's stupid having something like that in Melbourne where it is windy/rainy basically 90% of the time. They should've constructed a proper covered shopping centre. As it stands now the weather can affect where people walk to and the distance from the shops. I mainly go to Woolies and would explore other stores but since they're in different buildings I don't even bother.

my 2c

I know what your saying, however the concept of the centre was to bring back the 'street shopping strip' feel integrated into a shopping centre.
 
Yep, looks like those looking at WL may have missed the boat. We bought our block about 18 months ago, 780sqm for $236k (resale, not from a release), now you are looking at $370k for blocks which are 130sqm smaller.

I would imagine prices will stabalise in WL, atleast until they start major works on the train station and town centre. Then I would not be supprised to see another boom.

Some data I have found regarding WL sales from over the last 3 releases.

14/08/2010
400 m2 $276000
448 m2 $289000
512 m2 $317000
629 m2 $357000
651 m2 $364000

06/11/2010
392 m2 $276000
448 m2 $296000
512 m2 $325000
545 m2 $332000

05/02/2011
392 m2 $285000
400 m2 $292000
448 m2 $305000
512 m2 $335000

WL is already over inflated. There wont be any significant capital gains in the foreseeable future as the developer has sucked it all our by upping the land prices so drastically. WL also has the stigma of it being 'on the wrong side' of the freeway.
 
WL is already over inflated. There wont be any significant capital gains in the foreseeable future as the developer has sucked it all our by upping the land prices so drastically. WL also has the stigma of it being 'on the wrong side' of the freeway.

I agree, i ruled out WL estate straight away due to the high land prices and also it being next to Truganina / Tarneit.

i suppose when the train station , business district and the westfield are completed it might make sense but all this is going to take time, on the other hand there are properties of the same caliber and size next door in whyndham waters around $100k cheaper.
 
Hi,

Some great news from my side... Negotiated price for property in tarneit to 335k from 350k... Threatened to walk out by getting decline letter frm d bank...

Forum members thanks a lot.. Not great comments any tarneit, made me think outside d box... Now I love my purchase n price.. Excited..

Regards
TV
 
Hi,

Some great news from my side... Negotiated price for property in tarneit to 335k from 350k... Threatened to walk out by getting decline letter frm d bank...

Forum members thanks a lot.. Not great comments any tarneit, made me think outside d box... Now I love my purchase n price.. Excited..

Regards
TV

Glad you got it at a good price. Good for you. :)
 
WL is already over inflated. There wont be any significant capital gains in the foreseeable future as the developer has sucked it all our by upping the land prices so drastically.

Agreed. I don't think you will see any significant action until people can physicaly see work begining on not just the train station, but town center.

WL also has the stigma of it being 'on the wrong side' of the freeway.

You could argue that the other side is the wrong side, boxed in between highway and coast with limited options into the city or north. I don't really see what is special about PC. Public transport is CRAP, getting onto the highway is a PIA and it offers nothing more than what many other suburbs in the area do. For me, I want access to North of the highway, wife to the city. When the Town Center and Train Station is developed we will be able to walk to both very easily. It will suit our needs very well which is why we bought here. I do not see it being number 2 behind PC by a long shot.
 
I agree, i ruled out WL estate straight away due to the high land prices and also it being next to Truganina / Tarneit.

i suppose when the train station , business district and the westfield are completed it might make sense but all this is going to take time, on the other hand there are properties of the same caliber and size next door in whyndham waters around $100k cheaper.

I previously lived in WW before moving to WL. WW is not a bad area. It does have issues with access to broadband. It also comes under body corp and is seperated from WL by the old sewer / Federation Bike track with only very limited pedestrian traffic between the 2 estates. However, with the increased price of land in WL, it is worth looking at WW for value for money and way up the 2.

Tarniet and most of Truganina are some distance from WL and will not have anywhere near the ease of access to public transport or town center which WL will boast. Arndell however is developing into quiet a nice estate. Their central park is ...... Very nice. The school and sports park are progressing very well and would be equally acessable to WL as WW is. This is an estate worth considering, however their prices, as with WW have taken a significant jump upwards and I would expect to see very little future growth there also, atleast until the Station and Town Center at WL.
 
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