Melbourne house with land - where to buy?

I'm completely new to melbourne, I am from Sydney but I want to buy in Melb because I've reached my NSW land tax threshold. Looking at house with land for around 600k-700k. I know I can enter that into realestate.com.au and view by map but I would like some suggestions if you have any.

Some considerations:

1) shape of Melbourne differs from Sydney, there's more coastline and a 270 degree spread around the CBD so it seems like there are many more suburbs that are relatively close to the CBD compared to Sydney - would I be correct to think that the good buys are the ones that are close to the CBD but priced lower than other same-distance suburbs?

2) Is it better to buy something close to the water like around Hampton area or something close to the CBD but away from the water?

3) what sort of ethnic communities are heavy in which regions of Melbourne?

4) where are the good train lines that go to the CBD? e.g. in Sydney the western line from Parramatta to Central is very fast, so your commute from Parra to CBD is actually faster than say if you were going to the city from bankstown.

EDIT: 5) I'd love an opportunity to meet up with a local investor while I'm here in Melb for the next few days (till Sunday 28/9) Shoot me a PM or reply with detials on how to get in touch. I can go anywhere.
 
Last edited:
1. maybe - but house with land will be pretty scarce in that price range within 15km of cbd (depending on how much land you are after)

2. opinions vary - but by the water is generally more pricey.

3. Maybe look at http://www.censusdata.abs.gov.au/ce...1/quickstat/208011172?opendocument&navpos=220 and pump in different postcodes.

4. Bascially any train line will do, There are also suburbs serviced by bus.



The Y-man

Thanks Y-man! Just from a 5min search I can get some old weatherboard houses 3br in Footscray for 600k - not sure about land size (RA's don't mention this in thier listings, is this a Melb thing?) but I assume tiny, which is OK given the suburb is very close to CBD. Is that part of town a good choice? what are some similar choices? basically I want to minimise distance to CBD, while still being able to get house with land. Can be old.
 
Thanks Y-man! Just from a 5min search I can get some old weatherboard houses 3br in Footscray for 600k - not sure about land size (RA's don't mention this in thier listings, is this a Melb thing?) but I assume tiny, which is OK given the suburb is very close to CBD. Is that part of town a good choice? what are some similar choices? basically I want to minimise distance to CBD, while still being able to get house with land. Can be old.

You mean like
http://www.realestate.com.au/property-house-vic-footscray-117706311

From the ad, I make it to be 250 sq m.

Footscray is an asian (Vietnamese) hub (as is Springvale and Richmond).

The Y-man
 
I reckon look at your strategy and then answer:
1) why you are wanting to buy a house with land
2) why melb

1) prefer stronger capital growth compared to apartments. Also if land is big enough, there's opportunities to add value (e.g. build a grannyflat) or future rezoning or future buying neighbours and developing etc.

2) I like big cities - there are two (or 3) in this country. Ran out of land tax threshold in NSW and would also like to diversify

EDIT to point 1 - just read that you can't rent out GF's in VIC - haha... still doing my homework in early stages. Oh well I still prefer house with land - higher land content% is still my preference.
 
Last edited:
Footscray used to be the 'scummy' suburb, but it's recently had a big surge in price and young professionals moving in. While it could be a good move, it could also be that you've missed the latest boom in that suburb? (p.s. I'm no expert).
 
Footscray used to be the 'scummy' suburb, but it's recently had a big surge in price and young professionals moving in. While it could be a good move, it could also be that you've missed the latest boom in that suburb? (p.s. I'm no expert).

But I don't get how a place so close to the CBD could be scummy...

Any other scummy places that are centrally located?
 
But I don't get how a place so close to the CBD could be scummy...

Any other scummy places that are centrally located?

Have you been to collingwood :D

Footscray is 5-6 kms to the city and even closer to docklands. Huge supply of townhouses and apartments.
 
Back
Top