my personal opinion is its too late and there is better short-term value in neighbouring suburbs.
I second that
I live in Glenroy with my folks in the Oak Park side.
For those who dont know, all the blocks on the west side of pascoe vale are 1000+ sqrs, hence thats why they are so attractive to developers.
My parents bought 10 yrs ago for 117K and they got it revalued 4 mnths ago at 658,000.
This is the best peice of advice i can give anyone....
Look at the reasons WHY a suburb is going up in value!
Is it because developers are snatching up all avail houses to slam 4+ units on it, or is it because a suburb has been undervalued for too many yrs ie burwood. etc etc Just because a magazine shows boom time in broady doesnt mean you want to move there does it? for god sake the concrete fibro commission houses are selling for 360k+.
So dont take growth figures on face value!
In addition and back to Glenroy, once all the big blocks have been snatched up and there are all these ppl renting townhouses what social impacts will that have on the suburb, crime etc.... I know I wont want to live in Glenroy in 10 yrs time.
Yes it has boomed already and has broady, jacana, dallas. If you like those suburbs i would look at Gladstone park!!! It doesnt have a train but it has buses and a huge freeway entrance just there, a shopping centre and all the blocks are a big small to develop so it attacts the right kind of ppl. Also it has performed very very steady over time..
I would like to buy there also!