I thought I might add a few comments as I actually live in the area and have done for a few years now.
I remember asking in this forum a few years ago (circa 2006) about buying in Melbourne. I received mixed comments, and a few valuable insights, particularly regarding the West. Well, I considered them valuable and here is why:
1. Many people from 'Melbourne' seemed to shun the West altogether, particularly the subject area of this thread.
2. Some 'local' Melbournites recommended trying to see past the negative statements often voiced about the west and in particular, the subject area of this thread.
3. I had never lived in Melbourne and a few PMs from forumites (predominately non-Melbournites) who encouraged me to at least take a look..... Well I am glad I did!
I currently live in a house which is far above the standard I expected for what money I had. I have a few friends that have bought properties in these areas and made good ROIs over the past couple of years. I would buy more property here if my circumstances were different (this is not a comment regarding my financial position) as I believe there is still good opportunity in the area.
I actually live in an estate referred to in this thread, Sanctuary Lakes, and have personally witnessed rapid growth in the entire area within Wyndham Vale. I would struggle to buy an equivalent block of land in my estate now for much less than what my house (inc. land) cost 3 years ago. I expect growth to continue on a steady rise over the coming years in this area.
Older houses in the shire definitely represent solid buying with growth potential. I recommend 'have a look' ..... I'm glad I did and I live here as do most of my friends. I THINK there is potential...... (sorry for the long post)