Hawthorn Is Booming

I am new to this forum, I just wanted to to add my opinion, I have been actively looking to purchase a property in hawthorn with my details listed with some local agents. It seems many homes are selling prior to even been advertised.
Two homes I was contacted about were going be be forthcoming auction, but were sold under my nose.
I am quite new to melb (from ramsgate syd) and hawthorn seems to be a very nice place to live.
I see the market still very strong and I dont think high interest rates are going to have a inpact on nice homes.
Just my 2 bobs worth.
 
Joe do you want a property for investment or as a pincipal place of residence because there us a big difference in demographics between hawthorn and werribee.
Hawthorn is very wealthy area with lots of exclusive schools (private). If you are looking for a PPOR then you could also try Canterbury,Balwyn,Balwyn North and Camberwell. (In no particular order).
All are similar.
 
Hi Joe,
We used to live in Hawthorn (hence may be bias) but to us the suburb is a quite nice. Scotch Hill or streets near St. James Park are nice.
Hubby loves the area, after we moved he missed coffees, shops on Glenferrie Rd, train 10 minutes to Melbourne Central, walks (Park, river)...almost everything :). I love all the Edwardian, Victorian (old architecture) houses...hence we still shop, coffee there every now and then...

Just FYI, According to the May YIP mag (Page 22) over the past decade its growth is 272% from $378,250 in 1999 to $1,340,500 in 2009.

For us, it was a 100% Capital Growth in 3.5 years. It was a double front Victorian weatherboard house. Yes we should not sell it (a lesson learn too late + we did not know this forum :). Our reason to sell back then was simple as we said to each other it is time to reward ourselves and that meant to remain there we had to renovate or rebuilt. At the time we thought either option was too much for us with both working full time and young kids...so we sold it.

Anyway, Good luck with your Hawthorn house hunting.

Cheers, Tracey
PS: I am still browsing the net & subscribing for a 2 BR unit...just thinking along the line of a unit in the area for an early retirement is nice....
 
Joe,
I am also looking to purchase IP in Melbourne. Being from NSW I wish to narrow my searching to a couple of areas. Will be visiting Melbourne shortly. I suspect Hawthorn prices above my budget of $700,000 - $900,000. From your research what can I buy there (non strata) with my budget.
Harry
 
Hi Joe,
We used to live in Hawthorn (hence may be bias) but to us the suburb is a quite nice. Scotch Hill or streets near St. James Park are nice.
Hubby loves the area, after we moved he missed coffees, shops on Glenferrie Rd, train 10 minutes to Melbourne Central, walks (Park, river)...almost everything :). I love all the Edwardian, Victorian (old architecture) houses...hence we still shop, coffee there every now and then...

Just FYI, According to the May YIP mag (Page 22) over the past decade its growth is 272% from $378,250 in 1999 to $1,340,500 in 2009.

For us, it was a 100% Capital Growth in 3.5 years. It was a double front Victorian weatherboard house. Yes we should not sell it (a lesson learn too late + we did not know this forum :). Our reason to sell back then was simple as we said to each other it is time to reward ourselves and that meant to remain there we had to renovate or rebuilt. At the time we thought either option was too much for us with both working full time and young kids...so we sold it.

Anyway, Good luck with your Hawthorn house hunting.

Cheers, Tracey
PS: I am still browsing the net & subscribing for a 2 BR unit...just thinking along the line of a unit in the area for an early retirement is nice....

So what did you do after you resold it? How did you reward yourselves?
 
Joe,
I am also looking to purchase IP in Melbourne. Being from NSW I wish to narrow my searching to a couple of areas. Will be visiting Melbourne shortly. I suspect Hawthorn prices above my budget of $700,000 - $900,000. From your research what can I buy there (non strata) with my budget.
Harry

For that price range you'll be getting something pretty basic - under 200sqm single fronted in poor condition on a busy road for closer to 700k. Better street for up to 900k. Even the typical small single fronted's in ok areas seem to be $1.2m or so now so you really need to look at the stuff that needs a fair bit of work. Still it will get you in the right area.

eg,

http://www.james.net.au/rating/87-Church-Street-HAWTHORN
http://www.james.net.au/rating/6-College-Street-HAWTHORN

Would also be looking further out, the quality eastern subrbs end at Mont Albert North, North Balwyn type area. Then there is second rung suburbs like Doncaster, Balckburn which could be considered.
 
There are snobs in Box Hill? :confused: Wow, I wouldn't think I was all that if I lived there! Hawthorn yes, Box Hill... no thanks.

It is a bit like Footscray verus Essendon, close but no cigar. Having said that Box Hill is coming up in the world. Somewhat in its own zone but well out of affordability for most.
 
Oh I hate snobs. Always walking out of their house with this air of arrogance about them. I have a friend who lives in Box Hill. Thinks he's all good because he lives there.

You'll put a hole in your cheek if you put your tongue any more firmly there. And then you may not be able to go fishing anymore.
 
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