I am looking at point cook now
According to the RP data point cook has grown 32% over last 3 years. Do you think Point Cook still has room to grow?
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I am looking at point cook now
According to the RP data point cook has grown 32% over last 3 years. Do you think Point Cook still has room to grow?
PC land values were coming off a very low base relative to land in more established areas. Add migration levels into Melbourne, the demographic choosing these areas to live in, the mini-price burst we had in 2009 and early 2010, then it is not surprising that values have increased that much.
My gut feeling, is that prices will still rise but not at those levels. 4 br homes, 2 bathrooms and double garages cost ~$450k+ on land sizes between say 400-500sqm. That is still affordable relative to more established areas.
I am a strong believer of the storey behind 'going west' (in Melbourne) for property.
Disclosure: I have bought in PC.
Osman , can you shed some light. Enlighten us with your thoughts. any particular pockets in PC (i.e. close to town centre, close to schools, etc)
Regards
I think i got a decent price on the house i purchased, asking price was around $630 ~ $650k , land size 660 sqm block, double story 40 square home, only 8 months old. So was a perfect home for me.
I ended up paying $570,000 for it,
i just the other day inspected a few businesses in point cook town centre, and was very surpirsed and shocked, and felt sorry for the number of businesses that were closing down/about to close down and were for sale,
basically, EVERY fashion female shop is in deep trouble, regardless of price range
-kennys cardiology is closed
-Baskin Robbins is closed
-the bric a brack shop next to BR has got the "landlord has reentered" sign on it
- the chinese grocery is going under
- there are 4 businesses of the food court for sale
- I spoke to 3 owners of hte food court ,and simply asked "how is business" they said " up and down, a bit slow here and there" but was very surprised when I asked "keep at it, are you able to pay the rent" and most people don't like to admit problems, but all of them simply said a firm "NO"
and this is what I found out in a 1 hour walkabouts of the town centre
I just purchased my first property in PC last week.
i am in Ponsford Drive , which is a good pocket from what i have seen. Its in the Innisfail estate and my property is right in front of a school, YMCA center and a park.
Its 5 min walk to the IGA and the massive asian supermarket and about 1.5 kms from the PC town center.
I think i got a decent price on the house i purchased, asking price was around $630 ~ $650k , land size 660 sqm block, double story 40 square home, only 8 months old. So was a perfect home for me.
I ended up paying $570,000 for it, got my building inspection done the other day and it came back all clear. Property was built my Clarendon Homes.
Dude you smashed it. Is there something wrong with the block? Like it’s weirdly irregular or something? Very good price for what you got, and the Innisfail estate is nicely located.
I have to agree that there is something wrong with it, not the house, the locaion. We are renting in Ponsford Drive until our McMansion of 22sq is completed in a much quieter corner of the estate.
Ponsford Drive has a school fronting it on one whole side. From the moment we moved in here (just over a year ago) it has been nothing but trouble. Excessive traffic, children - everywhere, noise - specifically their alarm going off at god awful hours of the mornings on school holidays with nothing to do but call the police multiple times to get it attended to.
Boardwalk Blvd and Tom Roberts Pde are used in the evenings by hoons to do burn outs. It beats paying at the speed way to watch it.
On the upside, I know they house you mean and its quite nice.
i just the other day inspected a few businesses in point cook town centre, and was very surpirsed and shocked, and felt sorry for the number of businesses that were closing down/about to close down and were for sale,
basically, EVERY fashion female shop is in deep trouble, regardless of price range
-kennys cardiology is closed
-Baskin Robbins is closed
-the bric a brack shop next to BR has got the "landlord has reentered" sign on it
- the chinese grocery is going under
- there are 4 businesses of the food court for sale
- I spoke to 3 owners of hte food court ,and simply asked "how is business" they said " up and down, a bit slow here and there" but was very surprised when I asked "keep at it, are you able to pay the rent" and most people don't like to admit problems, but all of them simply said a firm "NO"
and this is what I found out in a 1 hour walkabouts of the town centre
Hi Osman,
congratulations for your new purchase: good price, u have done well.
My settlement for the first IP would be in April, excited looking forward to it, however on the downside have not found many exciting threads on the forum regarding my investment suburb (Tarneit).
Happy to wait and see what happens...
Regards,
TV
i just the other day inspected a few businesses in point cook town centre, and was very surpirsed and shocked, and felt sorry for the number of businesses that were closing down/about to close down and were for sale,
basically, EVERY fashion female shop is in deep trouble, regardless of price range
-kennys cardiology is closed
-Baskin Robbins is closed
-the bric a brack shop next to BR has got the "landlord has reentered" sign on it
- the chinese grocery is going under
- there are 4 businesses of the food court for sale
- I spoke to 3 owners of hte food court ,and simply asked "how is business" they said " up and down, a bit slow here and there" but was very surprised when I asked "keep at it, are you able to pay the rent" and most people don't like to admit problems, but all of them simply said a firm "NO"
and this is what I found out in a 1 hour walkabouts of the town centre
You should walk through Moonee Ponds shopping centre and parts of Puckle Street. There are a number of stores that have closed and retail properties up for let. I suspect its symptomatic of what is happening to retail more broadly.
What a shame, I like the shopping centre, probably dont support it as much as I should though. I believe the whole shopping centre is in fact for sale.