Melbourne June quarter: Inner East Melbourne hot

[lll]

Hi Lozza

I was in the bath casually reading July 06 API...as one does...and an article 'Making a Comeback' refers to Melb's hot spots. Steve McKnight's view under the heading 'Looking Ahead' was represented as follows -
'McKnight's money is on areas that are looking forward to improved transportation links to the CBD, such as in the city's east with the ConnectEast project. "I would look for the next suburb out from where these projects centre, and seek to profit from the growth in prices once the projects are close to completion."

That's the Mitcham-Frankston from my understanding.

Just as an aside, ConnectEast's managing director John Gardiner stated in Dec 2005 - 'MELBOURNE'S road network needs billions of dollars of further investment to link freeways and boost public transport'.

I wonder what and where their future plans lie?
One strategy used by some is to buy up where LandCorp does it's developments out west as a sure bet. Perhaps following the plans of our main freeway builders is just as relevant?

Cheers
Fish

Gday Fish

Interesting points.

you spoke about the west? i was thinking about Brimbank Gardens, which is a new estate out in the deer park area on Mt Derrimut Road. It is right next to where the new deer park bypass will be, and there is a new golf course going up right outside the estate, and the deer park railstation is marked to be electrified withing the next 5 years or so. ANd you can get a house and land package for under or just over $300k still...

what do u reckon?

Lozza

 

[Fish]

Sorry Lozza,

I was talking about 'way' out west...like along the WA foreshore where LandCorp do their developments. The article suggested that where they build...surrounding prices rise.

In terms of Melb west...i keep remembering the bridge falling down as a kid and so now I stay east! I'd assume a similar logic would happen no matter where you are, provided the infrastructure's going in and people want to live there.

Enjoy
Fish