house in footscray west or townhouse in oakleigh east?

[tripledigit1]

Hi there,
Newcomer to the forum and to property investing and seeking your input on the following properties?

http://www.realestate.com.au/property-house-vic-west+footscray-114861427

http://www.realestate.com.au/property-townhouse-vic-oakleigh+east-114757775

The Oakleigh East townhouse is 20 minute walk to Monash Uni, close to freeway and main road (Princess Highway), opposite a preschool and 10 minute drive to Chadstone. Would appeal to students and family. Indication of price probably $500K mark. Rental of one of the other townhouses in that block (of 4) is about $470.

Not as familiar with the Footscray West house but a house on the same street (renovated nicely) that was similar sold for $565K - the house on offer is obviously much older and would not fetch that price, I'm hoping that I could get a chance to acquire it aroudn the $450K mark? Rental probably about $350?

I'm more interested in capital gains but at the same time, want to minimise holding costs. What do you think?

 

[K_Raheja]

i think oakleigh will have better gains..plus i personally think it is a much*10 better suburb than footscray...and most likely your tenants at oakleigh would be better than footscray..

 

[Aaron_C]

Yuck Footscray...

 

[hombie]

Oakleigh / Clayton area has seen good growth in the past few years and will continue to grow.

The house in Footscray is close to the station so it should be easy to lease but it seems to be close to the industrial zone as well.

I think in the long term Footscray house will beat Oakleigh as Footscray has to gentrify sooner or later (but we are talking 10-15 yrs).

Oakleigh house might immediately appraise. In terms of social standards, Oakleigh / Clayton area highly regarded over Footscray.