Maidstone
- Thread starter saibaba
- Start date
close to city - yes
highpoint - yes
transport - no, trams and buses but no real transport (trains)
footscray park - yes
schools - no, 3 state primary schools according to my Melways
still cheap - for a reason
Being close to city with no trains and all the
commuters from further out going from
Maidstone to CBD in peak hour would be a s**t fight.
I'm going to have to disagree with you on this
one Beech.
Despite the CG in Footscray in the last couple
of years it's still not exactly a nice place to
live. I can't see how Maidstone is any better.
Unless you live on the banks of the Maribynong
River with some nice views.
Yes, you could do a whole lot worse but I think
that you could do a whole lot better. With a lot
of searching and a lot of luck you should be
able to find something run down across the
river in Ascot Vale, may be possible to grab
something falling down in Kensington.
andy
I did a few deals in Maidstone a couple of years ago when it was fairly cheap.
Would have to say Maidstone is now fully valued so I guess you have to ask yourself what the potential capital gains are for the next 10 years.
Why buy there ?......Because it is affordable and in my opinion has great potential with big blocks and generally well planned.
Obviously close to the city etc...
If you are looking in Maidstone I assume you cannot afford Ascot Vale or the Moonee Ponds area so why bother looking there.
If I could afford to buy in Toorak why would I slum it in Moonee Ponds.
If you are looking about the area take some time and scout around Cornwall Road for some nice townhouse developments.......but agast ....that is in Sunshine!
Dont be put off...some very smart money has been going into that area in the last few years.
Maidstone...Sunshine.....Footscray Etc....DO...have some social problems so buying there is a bit of a punt but nothing I would be too concerned about........hell I think in five years or so the sons and daughters of Moonee Ponds will catch the news.
Cheers and good buy
Would have to say Maidstone is now fully valued so I guess you have to ask yourself what the potential capital gains are for the next 10 years.
Why buy there ?......Because it is affordable and in my opinion has great potential with big blocks and generally well planned.
Obviously close to the city etc...
If you are looking in Maidstone I assume you cannot afford Ascot Vale or the Moonee Ponds area so why bother looking there.
If I could afford to buy in Toorak why would I slum it in Moonee Ponds.
If you are looking about the area take some time and scout around Cornwall Road for some nice townhouse developments.......but agast ....that is in Sunshine!
Dont be put off...some very smart money has been going into that area in the last few years.
Maidstone...Sunshine.....Footscray Etc....DO...have some social problems so buying there is a bit of a punt but nothing I would be too concerned about........hell I think in five years or so the sons and daughters of Moonee Ponds will catch the news.
Cheers and good buy
Hi saibaba,
Could you give us some more details about your intended strategy and what you would want out of a property in Maidstone?
Then we could give you some more specific and targeted feedback instead of our personal opinions!!
Maidstone could work for you or not, depending on what you want to do.... Positive gear, neg gear, subdivide, redevelop, etc, etc,
All the best,
Sue
Could you give us some more details about your intended strategy and what you would want out of a property in Maidstone?
Then we could give you some more specific and targeted feedback instead of our personal opinions!!
Maidstone could work for you or not, depending on what you want to do.... Positive gear, neg gear, subdivide, redevelop, etc, etc,
All the best,
Sue
Hi saibaba!
You might find that Maidstone will fit your criteria then.
As you would know if you have been looking in the area, the blocks are huge for an inner city suburb and there is a lot of development going on. Have a look at the area south of Ballarat road. There are a lot of big blocks there where houses are being knocked down and 2 - 4 townhouses put up instead.
Of course do your research and make sure that the figures will work for you, but there aren't too many other suburbs that close to the city where there is that size land available.
Of course the other thing to consider is the whole development side. How much of a learning curve and how much cost will it involve?
But if negative gearing will work for you at the moment, then you are unlikely to go too far wrong, as long as you are clear on your objectives and strategy and whether a particular property fits it.
Best of luck,
Sue
You might find that Maidstone will fit your criteria then.
As you would know if you have been looking in the area, the blocks are huge for an inner city suburb and there is a lot of development going on. Have a look at the area south of Ballarat road. There are a lot of big blocks there where houses are being knocked down and 2 - 4 townhouses put up instead.
Of course do your research and make sure that the figures will work for you, but there aren't too many other suburbs that close to the city where there is that size land available.
Of course the other thing to consider is the whole development side. How much of a learning curve and how much cost will it involve?
But if negative gearing will work for you at the moment, then you are unlikely to go too far wrong, as long as you are clear on your objectives and strategy and whether a particular property fits it.
Best of luck,
Sue
G'Day all,
for what it's worth, If I were looking at investing on that side of the city, Maidstone would be the area.
But personally I wouldn't be looking for a unit, I would be looking for something that had substantial land content, old house, big block, that sort of scenario.
Social problems maybe at the present time but areas change.
Some of my boyhood recollections were going down to Lygon Street in Carlton with my father to collect rent on a couple of shops he owned there. At that time, I would say that around half the shops were vacant and a lot of them had painted out windows and were being used for storage purposes.
Don't see too many like that down there any more.
regards
for what it's worth, If I were looking at investing on that side of the city, Maidstone would be the area.
But personally I wouldn't be looking for a unit, I would be looking for something that had substantial land content, old house, big block, that sort of scenario.
Social problems maybe at the present time but areas change.
Some of my boyhood recollections were going down to Lygon Street in Carlton with my father to collect rent on a couple of shops he owned there. At that time, I would say that around half the shops were vacant and a lot of them had painted out windows and were being used for storage purposes.
Don't see too many like that down there any more.
regards
Hi Saibaba,
For my two bobs worth, Maidstone is less than 10K from the city, BUT lack of direct transport to the CBD is a real drawback.
Unless you want to catch a tram to Footscray station, or the longer tram route #57 (methinks possibly 45 mins).
Next to Maidstone is the Edgewater development with house and land for 450K plus. Why pay that much, and still spend at least 40 min travel time to CBD by public transport? May suit tenants willing to commute by car. If people are willing to pay 220K+ for empty land there, perhaps a large block with a renovators dream may be the way to go.
I guess the positive is the city views (if you can get it), and nearby Highpoint shopping centre.
Cheers,
Chinny.
For my two bobs worth, Maidstone is less than 10K from the city, BUT lack of direct transport to the CBD is a real drawback.
Unless you want to catch a tram to Footscray station, or the longer tram route #57 (methinks possibly 45 mins).
Next to Maidstone is the Edgewater development with house and land for 450K plus. Why pay that much, and still spend at least 40 min travel time to CBD by public transport? May suit tenants willing to commute by car. If people are willing to pay 220K+ for empty land there, perhaps a large block with a renovators dream may be the way to go.
I guess the positive is the city views (if you can get it), and nearby Highpoint shopping centre.
Cheers,
Chinny.
Hi guys,
My first post, new to the game here and was looking at Maidstone. I'd like to live in the house for some time (3-5 years) and then later on getting another place and leaving it as an investment.
I guess the thing that was said here in this thread, 10 years ago now, was the lack of public transport which doesn't seem to have changed much. You still have to catch a bus or tram to get to Footscray train station.
This site, http://www.propertyobserver.com.au/data/suburb/maidstone-vic shows a little boom (is 100k in three years considered a boom?) between 2008 and 2011 but things have declined lately.
What are your thoughts on Maidstone now?
My first post, new to the game here and was looking at Maidstone. I'd like to live in the house for some time (3-5 years) and then later on getting another place and leaving it as an investment.
I guess the thing that was said here in this thread, 10 years ago now, was the lack of public transport which doesn't seem to have changed much. You still have to catch a bus or tram to get to Footscray train station.
This site, http://www.propertyobserver.com.au/data/suburb/maidstone-vic shows a little boom (is 100k in three years considered a boom?) between 2008 and 2011 but things have declined lately.
What are your thoughts on Maidstone now?
Not the biggest fan of Maidstone.
The suburb came from a relatively low base and has grown well for the last 10 years but the suburb is predicted to flat line for a while now.
I'd say wait on Maidstone until the suburbs that lead the growth nearby go up enough in value for people to be priced out of them and then ride the ripple effect when/if it happens again.
The suburb came from a relatively low base and has grown well for the last 10 years but the suburb is predicted to flat line for a while now.
I'd say wait on Maidstone until the suburbs that lead the growth nearby go up enough in value for people to be priced out of them and then ride the ripple effect when/if it happens again.
Hi Jake, thanks for the reply.
What areas are you predicting to boom in the near future?
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