Is it time for Laverton yet?

Stigma is a funny thing but time heals wounds...

The east has always been better in terms of growth but the steam is moving towards the west.

I have been buying properties in the west and my portfolio is looking nice :).

But with Lavernton the biggest issue is that there are allot of land releases in near by suburbs.

very true jp but around where the new land is being released traffic is really bad. Williams landing on onwards is chaos in mornings / evenings. With laverton you miss all that.
 
Stigma is a funny thing but time heals wounds...

The east has always been better in terms of growth but the steam is moving towards the west.

I have been buying properties in the west and my portfolio is looking nice :).

But with Lavernton the biggest issue is that there are allot of land releases in near by suburbs.

Have you seen the price of these land releases? $370k for only 400sqm

http://www.realestate.com.au/property-residential+land-vic-williams+landing-201200037

you can get a house on a big block in Laverton for that money with change left over AND these land releases are further out. The more these new estates develop the worse the traffic is going to get as the infrastructure lags behind. We all know what happened to point cook.
 
Have you seen the price of these land releases? $370k for only 400sqm

http://www.realestate.com.au/property-residential+land-vic-williams+landing-201200037

you can get a house on a big block in Laverton for that money with change left over AND these land releases are further out. The more these new estates develop the worse the traffic is going to get as the infrastructure lags behind. We all know what happened to point cook.

people don't understand this, they just see the shiny new house.
 
Have you seen the price of these land releases? $370k for only 400sqm

http://www.realestate.com.au/property-residential+land-vic-williams+landing-201200037

you can get a house on a big block in Laverton for that money with change left over AND these land releases are further out. The more these new estates develop the worse the traffic is going to get as the infrastructure lags behind. We all know what happened to point cook.

I agree. My friend lives in Truganina and says the traffic is shocking already. Laverton seems good value at the moment even though it does seem a bit rough. But it can't stay this cheap for long not in this kind of market.
 
I think once the new land releases are exhausted it will help Laverton too. I'm thinking about it. I can't really think of a better area with my criteria and budget at the moment.
 
Been looking at Laverton myself, a new townhouse would be my go-for property. Good rental market, I used to live in the area 6 years ago and it took me 3 rental applications to be approved for one. With the increase in 457 visa grants, tons of Indians have settled in the area and its surrounds. They attract more Indians. I think Laverton is a good area to invest in. Sometimes though - I think a small house in a big block of land is better - rent it out for a year or two or three then knock it down, build 2-3 townhouses on it (I know there's a lot to this process).

Anyone have any more ideas about this 'burb? Folks more knowledgeable than me - what are your thoughts about the above? New townhouse or old house on big block?
 
I initially looked at this suburb in mid 2008 when i bought in Point cook, prices were around 250k at that time from memory in auction results. Caught my eye because it was one of the cheaper places in the list. Prices climbed to high 300's by 2010 and dropped a bit. I think now recovering to 2010 level or going bit more now. Would have been a good buy in 2008 and bad bet in 2010ish. Seeing lot of knockdown/build townhouses nowadays though. My observations are limited from parking at the station an occasional drive thru to williams landing though.
 
My best mate recently bought a new unit off the plan in Altona North. Single storey 3 bedroom mirrored unit (block divided down the middle). 8m frontage, 20 sq, couple of tiny courtyards required throughout the place to let natural light in. He paid 630k. Double storey townhouses in Altona North can easily cost 700k+.

Where can you buy a brand new 3x2 townhouse/duplex for less than 450k within 18km of the CBD? Not many places. Laverton, Glenroy? Even Glenroy is getting up toward the 500 mark and beyond. Sooner or later a 3 br townhouse in Laverton will be worth 450-500k. If you picked up a 3 unit site in Laverton for 350-400k you should be able to do well with it even if you are not a builder.
 
My best mate recently bought a new unit off the plan in Altona North. Single storey 3 bedroom mirrored unit (block divided down the middle). 8m frontage, 20 sq, couple of tiny courtyards required throughout the place to let natural light in. He paid 630k. Double storey townhouses in Altona North can easily cost 700k+.

Where can you buy a brand new 3x2 townhouse/duplex for less than 450k within 18km of the CBD? Not many places. Laverton, Glenroy? Even Glenroy is getting up toward the 500 mark and beyond. Sooner or later a 3 br townhouse in Laverton will be worth 450-500k. If you picked up a 3 unit site in Laverton for 350-400k you should be able to do well with it even if you are not a builder.

I believe you could still get better value around the Albion, Ardeer, Sunshine West & maybe even Deer Park areas for $450k for brand new places which in my opinion are significantly better areas with better growth prospects than Laverton.

Not saying you are wrong re Laverton, just saying that comparably those areas above are still similar'ish but much better areas/growth prospects in my opinion.
 
Just to show how far these 2 suburbs have come 20 years ago this debate would have been settled on a Friday night at sunshine station. :D
 
I believe you could still get better value around the Albion, Ardeer, Sunshine West & maybe even Deer Park areas for $450k for brand new places which in my opinion are significantly better areas with better growth prospects than Laverton.

Not saying you are wrong re Laverton, just saying that comparably those areas above are still similar'ish but much better areas/growth prospects in my opinion.

They are still further from CBD. I agree the areas are probably better but from a developers point of view Laverton is better value as a 3 unit site is 150-150k cheaper.
 
They are still further from CBD. I agree the areas are probably better but from a developers point of view Laverton is better value as a 3 unit site is 150-150k cheaper.

Too simplistic to say it's better just because the site is $100-$150k cheaper. You'd need to factor in resale costs and rent yields etc to compare apples to apples.
 
Too simplistic to say it's better just because the site is $100-$150k cheaper. You'd need to factor in resale costs and rent yields etc to compare apples to apples.

True but at the higher price plus SD, interest and LMI how long will it take to make that extra investment back? All depends on your budget and how long you want to wait until you build. All three areas are good for different reasons IMO.
 
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