inner west melbourne the place to be buying?

[keneth]

Hi,

anyone care to share there current views on this market?

1 bedroom units mainly?

There is a few that have been put on the market in yarraville, williamstown, newport, and altona north and are up for auction soon. And are ranging for 210-240k

The price guides seem very cheap compared to suburbs like carnegie where 1 bedders are going for 350k these days!

Is there really a difference of 100k for driving over the westgate?

any thoughts..

 

[dunno]

Inner west is a no brainer and has been for a long time-has treated me well Doesnt take a genius to have worked out that the people priced out of inner east would start to look inner west and realise they can but a bigger house closer to the city for less money!! Kensington in particular is a fav-up over 20% on some of my props there in under 7 months....

 

[Tuppence]

Oh horrors! No, not the west! Can't you buy a charming duplex in Camberwell or Hawthorn?
*joke, joyce*

 

[Casserole Dish]

I'd be buying in Altona if only we had the $. Hmm, but I'd be after a 2 bed I think, so we are having to save even longer it seems...

The westgate is a pain to sit in at peak times. I've done it both ways. But, there are worse things in life and the benefits make up for it.

 

[ILoveProperty]

I'd be sure to buy near a station.
With one main road into the CBD, and population growing out West the WGB will only get worse.

 

[dunno]

I'd be buying in Altona if only we had the $. Hmm, but I'd be after a 2 bed I think, so we are having to save even longer it seems...

The westgate is a pain to sit in at peak times. I've done it both ways. But, there are worse things in life and the benefits make up for it.

I think people need to avoid this pre ocupation with the westgate-you only need to use that pile of rubbish if you want to go on the monash, or head further west. I had a person ask me if people renting my kensington places seemed to mind driving over the westgate-I laughed...mate they can almost walk into the cbd-why would they use the westgate??

There are a million other ways to travel into the city though if thats what you want....

 

[aladdin]

People also forget Footscray road takes you straight into the city. Other than peak times this road has next to no traffic.

 

[buzzlightyear]

Keneth, given you own a 1 bedroom IP in Newport (?) and would have a good knowlegde of the market, what is your opinion?

 

[chasethesun]

People also forget Footscray road takes you straight into the city. Other than peak times this road has next to no traffic.

Ssshhhh dont tell everyone let them all sit on the WGB

 

[keneth]

i think people have realised!!!

http://www.domain.com.au/Property/For-Sale/Apartment/VIC/Altona-North/?adid=2008278488

sold for 234k!


http://www.domain.com.au/Property/For-Sale/Apartment/VIC/Newport/?adid=2008274594

sold for 300k!

thats the most expensive 1 bedroomvilla unit i have ever seen sold. definitley a record for the area! would only rent for $230-$250 fully renovated though!!

 

[bumpyroad]

for affordability sake, i'm thinking of taking a peak up reservoir way - though a little outside the circle at 12 clicks from the CBD... would love to get into kensington, but might have to wait for the market to drop - and drop - and drop - and drop... hehehe I wish - hmmm, though perhaps after the eastern suburbanites flee back over the bridge to safety? lol