Melbourne outer east where to buy?

Where would you buy in Melbourne outer east now?

A lot of talk that Glen Waverley, Mount Waverley, Doncaster, Wantirna are in bubble, but which suburbs in Melbourne outer East still offers good value? E.g. How do you see Nunawading, Mitchum, Ringwood, Ringwood North, Croydon, Croydon Hills, Kilsyth, Vermont going or are prices crazy across everywhere in outer East?
 
the spill over suburbs for these hot areas is almost as hot to be honest,

if you are looking for a short CG, id be quite careful,
as for long term, who knows, it could shoot up a lot more and then slow down or it could plateau tomorrow,

however, for me thats getting more in the gambling territory
 
Ferntree Gully was always the nicest suburb over there imo. Has many great pubs and established venues also. The area itself is bush style living but in the suburbs best of both worlds. 10 minutes/3 stations behind Ringwood. Vermont South also very nice but no train line and gridlocked roads during peak hour.

Croydon,Ringwood for investment? But they've been booming for years now. Croydon is a rough area looks pretty well priced though compared to other area's (Dandenong etc) given it's location.
 
As some members have advised... Pretty much every suburb in Melbourne is going nuts.

The number of pre approvals and loans we have been doing in the last few months has been crazy. But the best thing is seeing some one get their home they truly want.

Investment vs buying a place to live in are two different and yes even though is there talk about a bubble the market is still going nuts.
 
OK...I will be generous.....try Cranbourne East and Cranboune North....new housing estates.

For about 350k you get a new 3 x 2 x2 home on about 250-300 sqm....much nicer than 4 stops up in Dandenong. With the right design you should get about 370-380pw in rent.

I know...know....people in Melbourne will tell me eeewww....Crimebourne!!!

Remember Clyde North and Berwick are going up a good rate these suburbs are in the edge of these suburbs....
 
Great time to sell. Selling 2 this year to put portfolio LVR back at 15-25% depending on sale price.

Depending what happens might sell another next year and own the rest outright.

PS: to answer original question, no suburb in the east offers good value.
 
More crazy prices today. Place I bought 12 months ago would be worth 60% more now based on a comparable sale at auction today. :eek:
Definitely not the place for a plain buy-n-hold at this stage of the cycle.
 
http://www.realestate.com.au/property-house-vic-clayton+south-119814379

Went to the auction for this today 40-50 Asian/Chinese we were the only anglo people there.

It got ridiculous, agents thought it would go for 550k.... well someone who looked like a student bought it for 690k :eek: Congrats to him but we thought the house was extremely tacky and not of good orientation/shape along with the block.

I don't see how 690k on a property like that is viable. We checked this one out in Oakleigh too, http://www.realestate.com.au/property-house-vic-oakleigh-119913365. Agent reckons it'll go for 690k and in this current market I'd definitely consider it for that, but have a feeling it'll go closer to 750k possibly more.. it's only 2 bedroom but the block was great, also a fan of the old clinker homes. Do you think it could go as cheap as 690k?

I think the whole problem with the market is buyers offering ridiculous prices it's going to get out of hand really soon if it hasn't already. The homes are quoted at reasonable prices but insane people are overpaying 10-20% of the property's real value. Definitely demotivating if you're trying to seriously buy atm.

Edit: Looked at this also http://www.realestate.com.au/property-house-vic-noble+park-119902021 they believe it will go for 450k+ (we believe closer to 500k). It was actually far nicer than 114 Osborne rd and 2 minutes up the road. The property was far better but did lack the close proximity to Springvale main st, underground station etc. That Osborne one was rather terrible in comparison though. It's definitely viable and good value, but I don't feel comfortable paying over 420k for it, but I would never park half a million in Noble Park! All these suburbs have grown a lot already, we're looking around Berwick now (my old favourite) hoping it may finally grow as the Druitt has, but it's so far out with so much land around it, growth has been stagnate here for 7 years.

I see potential in Berwick and Beaconsfield, but Cranbourne, Clyde, Pakenham etc are all estates. There are identical estates/area's in Epping which is half the distance? But homes in Cranbourne are going up steadily lots of people choosing to move there. Upper Beac is great too but has grown 25% this last year, Narre North has also grown 33% over the last 12 months... wish I bought there.

It's basically a decision to buy in area's that've already grown heaps and hope they magically grow forever without coming down.. or buying outer hoping they will finally catch some growth and not remain stagnant... not sure which is the bigger risk lol.

Checked out this one too in the "golden triangle" personally seemed a step down from the Whitmorr other one, they were asking 480k+. I'd say the estate with Ellendale rd etc was much nicer than the triangle (next to the private hospital) http://www.realestate.com.au/property-house-vic-noble+park-119929581
 
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Its definately boom times for Melb, you can throw a dart at practically any area now and make money, its official.... boom:p

I also believe there is more money to be made in Melb at this point in time than Brissy.

Spring time we may see more of a frenzy. Try to identify areas that are just starting to take off, there are still a few around, some of those ugly duckling areas, in boom times everything rises, they just take a little longer

MTR:)
 
Its definately boom times for Melb, you can throw a dart at practically any area now and make money, its official.... boom:p

I also believe there is more money to be made in Melb at this point in time than Brissy.

Spring time we may see more of a frenzy. Try to identify areas that are just starting to take off, there are still a few around, some of those ugly duckling areas, in boom times everything rises, they just take a little longer

MTR:)

Have to analyse individual markets within both cities. Valid point in identifying areas that are set to take off in melboure, same can be said for brisbane, but I'd say there are more of those areas around in brisbane than Melbourne at this point.
 
You may be surprised how many areas in Melb are still relatively close to CBD and cheap in comparision to perhaps more sort after areas/pockets of Melb. These areas they may be "on the nose" with locals but perhaps these are areas that investors should target.

Look what happened in Syds west, where immigration drove this market because it was affordable, not anymore. My point is look for value, the Melb market has already moved, hard to buy where the herd is buying.

MTR:)
 
Mtr I'm surprised you still think it's time to buy in Melb. Although I agree inner city is better value than outer east. Eg Carlton and North Melbourne is far better value than Carnegie or Chadstone.

All relative though. High vs ridiculously high. Race to the bottom.

On another poster's point, nothing sad for FHO trying to buy now. In all seriousness they deserve what they get. Avoid market during troughs (2012) and try to get in during booms (2015). Wise strategy.
 
How far East do you need to go to be able to buy a small 3 bedroom house with a price tag of $500k -$600k on a decent 600 - 800SQM block? I have not seen any for ages. Maybe I am looking from all wrong places.:(
 
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