Melb Boom Suburbs



From: Carlo Chiodo

To an earlier post, here are my top three selections and what I think each has got going for it:

Elwood: The Beach(or whats left of it), 2 primary schools, Transport, ORMOND Rd Shopping Strip and proximity to other great shopping venues (ie Acland st), Excellent Transport, Great demographics, The fact that I live there :), fantastic streets, no allowance for high rises, the yuppie culture, reasonable land sizes, good rental yields.

Things against: Amount of flats popping up, degradation of beach, the fact that i live here (yes that can be a positive or a negative), hard to find non-renovated, has it already boomed (yes but wont stop is my opinion)???

Carlton & Carlton North: I put my money where my mouth is a month ago and purchaes a 2 bedder.
Things for:
Inner city, University nearby, schools, Lygon/Rathdowne Street, transport, approx 70% of building are investment and that many investors cant be wrong, vic period homes abound, easy to find improvement opportunities, some great streets, high corporate rental placements, parks.

Things against: Cemetary, has it already boomed?, danger of bad tenants, susceptible to trend changes (ie if terraces go out of fashion), oversupply of apartments, australians growing fixation for going coastal.

Kensington: Things for: Macaulay Rd, great looking victorians, growing cafe mentality, removal of certain eyesores is imminent, proximity to city, nice name, some nice streets, low vacancy rate, my instinct

Things against: Recent drug problem reports, proximity to footscray which is a cheaper alternative, some streets resemble those of footscray, factories closeby.

Other suburbs that I am interested in are:
Mentone (Parkdale)
Footscray (though I hate the streets here)
Brunswick & Coburg
Caulfield South
Collingwood for commercial, think Smith St is coming back into vogue

Would like to hear others views on some suburbs.

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Reply: 1
From: William Blake

Dear Carlo

Thanks for keeping the debate alive I previously recommended Footscray and Kensington as suburbs worth a look at.

It's interesting that Footscray often cops it in regards to drug problems, which I'm sure are very real - however these similar problems haven't seemed to harm areas such as St Kilda.

...and how about Broadmeadows ... another contributer suggested Heidelberg which features (similarly to Broady) concrete post WW2 government housing ... however these are often on blocks of some 750sqm and sell around 80-90k

... Footscray, Broady etc some risk but will they prove to be outstanding value in hindsight

In terms of what is regarded as better suburbs I think Elsternwick is still good value

William Blake

(minus any poetry)
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Reply: 2
From: Curious Onlooker

Your Carlton purchase .. was it a university apartment/flat?


Curious Onlooker
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