Maribyrnong

From: Igs Kanny


I was just wandering if Maribyrnong was a good place to buy OTP. I'm not from Melbourne myself and don't know it well at all. Can anybody suggest any statistics (Apartments/townhouses)?
 
Last edited by a moderator:
Reply: 1
From: Property Investor


Hi,

I'm assuming you are talking about the development across from Highpoint Shopping Centre on the hill with magnificent views of the City and the Maribyrnong River?

All I can tell you is that Maribyrnong is a suburb that has enjoyed good capital growth, especially in the last couple of years.

However my due diligence has shown it to be overpriced in regards to OTP.
Prices generally start from $350k + for apartments and from $450k + for townhouses.

So, if you want to purchase there, you better negotiate good otherwise it may take ages before you recover.

Hope this helps.

Regards,
Mannie.
 
Last edited by a moderator:
Reply: 1.1
From: Igs Kanny


Thankx for the info.

I'm actually talking about Westway development. West road.

Not sure how the views rate over there. I haven't actually seen the plans yet.

The thing I'm concerned about is oversupply of apartments. Many more developments there?

What do you think the price should be?

Igs
 
Last edited by a moderator:
Reply: 1.1.1
From: Property Investor


Look in Caveat Emptor under Maribyrnong Apartment Development.
This person is selling apartments there.
Perhaps you can find out a thing or two.

Regards,
Mannie.
 
Last edited by a moderator:
Reply: 1.1.1.1
From: Kristine .


.....and don't forget the trusty website
www.maribyrnong.vic.gov.au for all the news, views, stats, population, growth, prices etc

One of the best sites around for all good property information, including number of building permits issued, value of permits and more!

Also www.domain.com.au then look in suburb snapshots

Good luck

Kristine

Also look up Maribyrnong in search on this website - there have been a few questions regarding this immediate area over the past few months
 
Last edited by a moderator:
Reply: 1.1.1.1.1
From: Igs Kanny


Thank You very much. Exactly the kind of info I have been looking for.

I'm planning to begin investing in Melbourne since the growth was so good lately, but don't want to pay marketing company's margins. Although, by Sydney's standards, prices are OK, it could be that I am overpaying.

Thanks
Igs
 
Last edited by a moderator:
Reply: 1.1.1.1.1.1
From: Paul Zagoridis


Let me get this straight.

You live in Sydney but are investing in Melbourne? Normally that would imply you have been approached by a marketing company. Unless you come from Melbourne originally and have just moved to Sydney.

And you don't want to pay marketing company margins? Then why not start investing in an area you can get to regularly and understand?

Beginning IP investment takes wither time or money (often both).

Good luck

Paul Zag
Dreamspinner
The Oz Film Biz site is archived at...
http://wealthesteem.dyndns.org/
 
Last edited by a moderator:
Reply: 1.1.1.1.1.1.1
From: Igs Kanny


That's what I am trying to do, understand.

I have accumulated enough equity on my two properties in sydney to start thinking about other things. Melbourne seems like a good idea since the growth persentage is about the same but the prices are still affordable. In sydney the prices are sky high, rental market is in pieces and good suburbs are overdeveloped up to the neck.

At the moment I'm doing a lot of research in Melbourne, but I'm essentially ready to get in.

A few of my friends are developing there. I also have a few hints here and there. Prices seem reasonable by Sydney standards, but could be high by Melbourne's and usually are. However, what I have been offered so far were properties already resold through marketing companies.

That's why I'm asking around.

Igs
 
Last edited by a moderator:
Top