Is this the magic formula for capital gain?

[Tony3008]

Tony , wondering how you find living in the docklands area . It seems to receive so much criticism , but on the one occasion we stayed there I quite liked it . Very close to CBD etc.

I love it, but I am a single guy not a parent of small kids. For me having everything - shops, GP, pharmacy, banks, supermarket, trams, SX station, Skybus, and library next year - within a short walk is what I love most. And on sunny days if I've got some reading to do I'll cross the road and sit on the quayside. CBD centre is only 20 minutes walk (a good bit of the 20 mins being spent waiting for green men!).

I would say this of course, but I reckon I am in one of the best located buildings in Docklands, Victoria Point (tower facing you as you walk across the Bourke Street bridge to Etihad). The north side of Docklands has lots of restaurants and clothes shops but not much in the way of everyday services, and Yarras Edge just across the river only has an IGA

 

[Aaron_C]

Tony , wondering how you find living in the docklands area . It seems to receive so much criticism , but on the one occasion we stayed there I quite liked it . Very close to CBD etc.

Cliff

This is how they get people. Only Melbournians understand how bad the area is.

 

[see_change]

So Aaron , given what tony says

Why is it so bad ...

Do you live there ?

Is it just a matter of too much built there at the same time so over supply so bad as an investment ?

In comparison to equivalent locations in sydney , it really seems like good value.

Cliff

 

[Aaron_C]

I never lived in Docklands although I did live in the CBD itself for a few years. I used to work in Docklands during my day job. Bad things about it:
1) Bad, woeful traffic. They make the roads as narrow as possible to accommodate bicycles (that never ride there). Hence no one bothers to go there.
2) Lack of parking.
3) Very, very windy due to large numbers of tall buildings in a small area.
4) Lack of connection to the Melbourne CBD. The only access to Docklands is via Collins Street or La Trobe Street. The actual main thoroughfares (for cars and pedestrians) in Melbourne are Bourke and Lonsdale Streets...and these two are both blocked off by Spencer Street station. Hence to get to Docklands feels 'far' even though on the map it looks close.

Those are the main 4 off the top of my head but you get the drift. Very undesirable locale.

 

[billybrownless]

the magic formula for capital gain =

hard work, good research, and a bit of luck

 

[mflying]

One of the key ingredient for capital gain is Avarge house hold income for your targeted area.

look at western Sydney for an example!

 

[SamL]

I never lived in Docklands although I did live in the CBD itself for a few years. I used to work in Docklands during my day job. Bad things about it:
1) Bad, woeful traffic. They make the roads as narrow as possible to accommodate bicycles (that never ride there). Hence no one bothers to go there.
2) Lack of parking.
3) Very, very windy due to large numbers of tall buildings in a small area.
4) Lack of connection to the Melbourne CBD. The only access to Docklands is via Collins Street or La Trobe Street. The actual main thoroughfares (for cars and pedestrians) in Melbourne are Bourke and Lonsdale Streets...and these two are both blocked off by Spencer Street station. Hence to get to Docklands feels 'far' even though on the map it looks close.

Those are the main 4 off the top of my head but you get the drift. Very undesirable locale.

I currently work in Docklands and there is not a lack of parking there is heaps of it, rightfully you just have to pay. The traffic is bad yes, but not because of the reason you suggest regarding bicycles, there are heaps of bikes that travel in and out of docklands. The reason the traffic is bad is that it is a dead end. There is pretty much only one way in and one way out if driving. It is a constant argument of mine but you never fix congestion by building roads, you improve other options (walking, PT, cycling, etc.) which gets people off the roads.

The wind is horrible I agree and I can't see how it can be fixed. There are some great restaurants now down this way but the place does become dead after about 7pm. This issue is that unlike all other 'entertainment areas' ie. City, Brunswick St, Lygon St, Fitzroy St, Sydney Road, etc. which are all thoroughfares on the way to somewhere else which creates a buzz of people, docklands is on the way to nowhere so only gets people who specifically go there.

Anyway my 2 cents on Docklands. Would I buy there, no. Would I live there, maybe but probably not.

 

[JacM]

Got to say I am not a fan of The Docklands.

It is important to pay attention to supply and demand - it wouldn't do if you needed to rent or sell your place, only to find that 100 other owners are wanting to do the same thing at the same time. The only way for you to stand out is to discount your product which of course is no good.

Yes it is very windy there. The wind is pretty much always strong there. It is tough to conduct a conversation on your mobile, or walk without being bent over against the wind. I am a relatively small person and on more than one occasion I have had to grab onto a handrail to stop myself getting literally lifted off my feet in the wind. The only way out via public transport is via tram, but for some reason the trams arrive in batches. Several arrive at once, and then nothing for a while. This can be very annoying if you are trying to forecast how long it will take to get into the CBD. The tram signs merrily tell you when the next tram will "arrive" but not "depart" back in the direction of the CBD. You have to stand there in the wind and rain watching the tram driver take his break at the end of the line, wondering when it will be that he commences the journey back into the CBD. No amount of reasoning with the tram operator company has gotten this changed. So more often than not you give up and walk, figuring you'll probably get to your destination faster. That said, this is good from an exercise perspective

 

[Deltaberry]

Yes Docklands specialises in apartments that cost more, but rent for less, because very few people want to live there and there's so much vacancies.