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Have been looking at Altona Meadows recently for a PPOR.
QSM stats show the market there slowing down slightly, hence im not sensing any urgency to buy immediately.
Anyone have any views on the longer term potential for this location?
Appreciate your thoughts.
All of Melbourne is slowing at the moment, and many of the inner suburbs have dropped by over 20% from their peak in 2010.
This statement, like all generalisations is incorrect.
I think we need more information....
I'm thinking you must be in the range of 300-450 to be considering Altona Meadows.*
Given this is your PPOR , you want to make this as close as possible to something you are really happy in as other posters have mentioned.
This can depend on your priorities and where you are at in your life.*
If you are single in your early twenties and on the nightclub scene every weekend you may put your 350 on something different to if you are married with 3 kids.
When I was looking that time I made a list of all my not-negotiables, how many bedrooms, new or near new or needs renovation, close to train station/transport/freeway , *shops & services, close to beach or river, walking tracks, close to your work, backyard for dog, good schools, whatever they are.*
I also had a list of preferences that I wanted but not deal breakers.*
I priced the sort of thing I wanted in different parts of the city and i found something.*
But what I was looking for 5 years ago is very different to now, but as Jason mentioned you can sell for profit and move on, or talk to the brokers about interest only with offset loans and turn it into an IP if things change...
Any suggestions on other location options? Somthing smaller nearer the city?
Heating up a little bit over the last year. My PPOR has gone up 11%.
You could try Yarraville, Seddon, Kingsville, Footscray West (perhaps), Newport.