FHB: Truganina, Tarneit, Altona Meadows, Point Cook

[MrJK]

I have put an offer of $410k on 4BR +2 +2 house on Leakes Rd (near Tarneits Rd), which I think will be accepted. Original asking price was 420k with initial hint that price was not negotiable. Land size is 534m and build is 26sq m. House by Henley and sold by Henley. I am entitled to 20k FHB grant, which will go towards stamp duty.
I work in the city but drive to city (takes 45-55 mins) and drive back off peak.

My concerns:
flooding
farm lands opp property
no public transport
nearest shopping centre (Wyndham Shopping) on Sayers Rd or Werribee Plaza

Any comments?

 

[K_Raheja]

no public transport = hopefully its a short term problem.
no closeby shopping centre = same as above.
also on the negative side is the time you spend commuting to work ( from CBD).

I would not pay so much for property(specially PPOR) with risks of flooding in the vicinity, in fact i still dont get it that people pay close to $600k for homes in that region ? maybe i am missing something

 

[Tornado_ALIVE]

http://forum.homeone.com.au/posting.php?mode=quote&f=31&p=680222

Excellent News Landers!
Straight of the chopping blocks
quote their asx info:

http://www.asx.com.au/asxpdf/20110303/pdf/41x6rwbrsmk5k4.pdf
For those who don't have a PDF reader....


Basically the government has approved the retail space for WL to expand from 15k to 25k m2 this allows the space for CederWoods to build another shopping centre at WL. Which is good for us all!!!! hold on to your block their about to be worth a whole lot more.


added to this... site shed's have arrived at where the train station is propoesed to be. This signals their intentions to start there which is also a good sign!

 

[tvadera]

I have put an offer of $410k on 4BR +2 +2 house on Leakes Rd (near Tarneits Rd), which I think will be accepted. Original asking price was 420k with initial hint that price was not negotiable. Land size is 534m and build is 26sq m. House by Henley and sold by Henley. I am entitled to 20k FHB grant, which will go towards stamp duty.
I work in the city but drive to city (takes 45-55 mins) and drive back off peak.

My concerns:
flooding
farm lands opp property
no public transport
nearest shopping centre (Wyndham Shopping) on Sayers Rd or Werribee Plaza

Any comments?

Good luck with your purchase: When is the settlement due?
Also can you shed what was ur plan to get into Tarneit?

Regards
TV

 

[alanrrll]

http://forum.homeone.com.au/posting.php?mode=quote&f=31&p=680222

But 25,000sqm is still smaller than Point Cook Town Centre (35,000sqm)..regarding the following link (Page 44) from the Growth Area Authority (GAA).

http://www.gaa.vic.gov.au/Assets/Files/Wyndham_ActvitiesCentresStrategy_2009_DRAFT.PDF

Even including all commercial areas (e.g. homemaker supermarket) it's still only 60,000sqm in total, it's only half size of Werribee Plaza (120,000sqm)

 

[Joanne]

I won't touch Point Cook. There are already too many investors. The vacancy rate is very high.

 

[Tornado_ALIVE]

But 25,000sqm is still smaller than Point Cook Town Centre (35,000sqm)..regarding the following link (Page 44) from the Growth Area Authority (GAA).

http://www.gaa.vic.gov.au/Assets/Files/Wyndham_ActvitiesCentresStrategy_2009_DRAFT.PDF

Even including all commercial areas (e.g. homemaker supermarket) it's still only 60,000sqm in total, it's only half size of Werribee Plaza (120,000sqm)

25,000m2 – Retail floor space
35,000m2 – Homemaker floor space (seperate to Commercial Office floor space)
Substantial Commercial Office component, non-retail (Additional)
Provisions for Outlet Centres and other new retail formats (subject to application)
Additional 30 hectares of land allocated for further expansion.
5000 jobs expected when complete.

Also note that this document is from 2009 so may not be current or may be further revised.

 

[Melbournee]

I won't touch Point Cook. There are already too many investors. The vacancy rate is very high.

sure, looks that way. A few empty properties over a month now?

 

[tvadera]

Hi,

Regional Rail Link (RRL) has finally been approved by the new government, Details of the plan yet to be revelaed, howver as per article in The Age, work has started at Southern Cross station.

Would this have impact on the prices in Tarneit, Wyndham vale or west by any chance?

I welcome this move and its much needed, I would say regardless of the its impact on property prices.

Regards,
TV

 

[buzzlightyear]

Hi,

Regional Rail Link (RRL) has finally been approved by the new government, Details of the plan yet to be revelaed, howver as per article in The Age, work has started at Southern Cross station.

Would this have impact on the prices in Tarneit, Wyndham vale or west by any chance?

I welcome this move and its much needed, I would say regardless of the its impact on property prices.

Regards,
TV

This is not due to be completed until at least 2016. A couple of year later than the previous government had indicated. Not sure it will have any affect on prices until the track is much closer to completion.

 

[gm12]

Laverton - Current prices

Laverton is possibly the cheapest option in terms of $$$ / m2 this close to Melbourne - at the moment a 800m2 block will sell for around $350,000 with an old 3 bdr brick house on it.

I was inspecting properties in Laverton today and the asking price range for most properties was around 370K-380K mark for an old brick house on 550-600 sq mt. I don't think price would have appreciated this much in last 2-3 months, so either agents are dropping prices significantly during negotiation or I am missing something here... has anyone purchased a property in Laverton recently? Can someone please share their experience?

 

[gm12]

<<bump>> I'll appreciate any opinions on this. I am looking for an IP at the moment but I am not much experienced in property market. Could anyone with knowledge of the Laverton area please provide some guidance?