Hi all,
Anyone going to invest in Glen Waverley in this time?
MI
Anyone going to invest in Glen Waverley in this time?
MI
Investing in Glen waverley
- Thread starter MelbInvester
- Start date
Pretty sure you missed the boat
I think long term Glen Waverley will continually be in demand. Good schools are a massive driver, it's a public transport and business hub and so on.
On the other hand it's priced well above the median and rental yields are well below what can be achieved elsewhere.
I think it'll continue to be a popular suburb and will do reasonably well, but there's also other areas which I think would make better investments.
On the other hand it's priced well above the median and rental yields are well below what can be achieved elsewhere.
I think it'll continue to be a popular suburb and will do reasonably well, but there's also other areas which I think would make better investments.
MI what have you got to sell?
What about if you invest in the suburb next to G.W. area?
To me, it has potential..
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I don't have anything to sell but looking something ....
21 Campbell St Glen Waverley 1431sqm land 1.7mil
20 Trent Court Burwood East 1197sqm land 1.4Mil
70 Wilson Road 933sqm covenant for Single Dwelling 1.5mil
Huntingdale Rd 10 Appartments Plan and Permits ?
10 Dora Ave Blackburn 8 Appartments Plan and Permits ? Low to Mid 1Mil
8 Neera Ct Glen Waverley 921sqm land 1Mil
26 Amber Grove MW 786sqm Land 1.4mil corner location
62 Headingley Rd MW 870sqm land 1.2Mil corner location
MI
21 Campbell St Glen Waverley 1431sqm land 1.7mil
20 Trent Court Burwood East 1197sqm land 1.4Mil
70 Wilson Road 933sqm covenant for Single Dwelling 1.5mil
Huntingdale Rd 10 Appartments Plan and Permits ?
10 Dora Ave Blackburn 8 Appartments Plan and Permits ? Low to Mid 1Mil
8 Neera Ct Glen Waverley 921sqm land 1Mil
26 Amber Grove MW 786sqm Land 1.4mil corner location
62 Headingley Rd MW 870sqm land 1.2Mil corner location
MI
MI, if you are serious considering these options, then just go for it.
I am not clear what is the purpose of listing each of them here
Look at your strategy, cash flow, and returns, then decide what you want to do
Considering it will be 1M+ investment, you would need more than just posting on a forum if I was you
Agree - not sure why the question is being asked.
Most likely the "right" question has not been asked.
The Y-man
Hi Guys,
Thanks for the Advice. These are my research list and thought someone may benefit this.
Y-man, You are correct. My questions are in mind, whether i invest now or wait for next year? will this market cool down in GW?
MI
Thanks for the Advice. These are my research list and thought someone may benefit this.
Y-man, You are correct. My questions are in mind, whether i invest now or wait for next year? will this market cool down in GW?
MI
MI, I will share some my experience with you.
We always consider is it a good time to buy now, when is a better time to buy?
But in fact, you will probably never know this tbh.
But one thing is for certain, I see most of people regretting alot about the past, how they have missed the boat.
Now, the questions comes in mind, is it because these people kept on asking the same set of questions
"is it a good time to buy? when is a better time to buy?"
That's a question that's no really possible to answer. GW will cool down at some point in the future, just don't ask me when. If it takes 12 months, you've also got to ask yourself how much it will grow between now and then.
If the market grows 10% over the next year and then has a correct that sees prices drop by 10% over the following 12 months, then prices have dropped back to what they are today. Essentially the market hasn't moved over the 2 year average.
On the other hand, GW might continue to increase for another 2 years before a similar correction. If you buy today you'll still have enjoyed some growth.
We could be at the peak right now in which case the best thing to do is to wait it out.
The catch is, we won't know where the peaks and troughs are until about 6 to 12 months after they actually happen. I've seen people wait years for the market 'correction' to come, only to miss out on 40% growth and then rejoice when they get a 10% discount.
If you're ready to buy, then the time is right when you find the right property.
I've rented in the suburb since 2010, prices have gone up dramatically. From what I can observe, the average going rate is this: $1700/m2 if you are within 1km from the town/GW station/GWSC. Given it's 19-21kms from the CBD and most blocks are 700m2+, you're looking at a minimum $1.2mil+ for just blocks with old pre 70s houses.
I go running most nights opposite the Novotel in small streets and you will see probably 30% of some streets being knocked down and demolished and flogging them off for $2.5mil+. Many are massive show off monstrosities being 68squares-70squares complete with full length chandeliers.
GW is a bit of a funny one, yes, it is very popular with the Chinese buyers be it overseas, mainland, foreign residents or otherwise and obviously overpriced, I would say it's probably overpriced by $200-$300K per house. $900K to me sounds reasonable rather than $1.2mil for a worn out house + 700m2 block of land.
Having said it is a very pleasant suburb to live in, you've got amenities, decent school, train line and bus hub. Drive to city is OK-ish not normally congested, to and from South Melbourne where I work takes around 45mins in peak hour traffic. I think it's biggest factor is the surroundings, it is very family orientated but with lots of restaurants, a swimming pool, cinema etc.
It's close enough to the city by car/rail without being overly too far or close. I'm not sure if it's because the line ends in GW but the suburb doesn't give you that "thoroughfare" feel you get with some other suburbs closer to the city...
I go running most nights opposite the Novotel in small streets and you will see probably 30% of some streets being knocked down and demolished and flogging them off for $2.5mil+. Many are massive show off monstrosities being 68squares-70squares complete with full length chandeliers.
GW is a bit of a funny one, yes, it is very popular with the Chinese buyers be it overseas, mainland, foreign residents or otherwise and obviously overpriced, I would say it's probably overpriced by $200-$300K per house. $900K to me sounds reasonable rather than $1.2mil for a worn out house + 700m2 block of land.
Having said it is a very pleasant suburb to live in, you've got amenities, decent school, train line and bus hub. Drive to city is OK-ish not normally congested, to and from South Melbourne where I work takes around 45mins in peak hour traffic. I think it's biggest factor is the surroundings, it is very family orientated but with lots of restaurants, a swimming pool, cinema etc.
It's close enough to the city by car/rail without being overly too far or close. I'm not sure if it's because the line ends in GW but the suburb doesn't give you that "thoroughfare" feel you get with some other suburbs closer to the city...
Sold for $810k Mar 2013 with permits, now asking $500k+ for each apartment.