Melbourne Suburbs

chrispy

chrispy

Following various discussions going on about the various suburbs in Melbourne, I just did a quick circle around the 20-30 kms range, of suburbs on a trainline, property with 2 BR and came up with these offers on realestate.com for anyone interested - I thought some of the interstate members may like a price guide of the suburbs:

Mordialloc 23 kms 2 br Apartment $295k+ Auction - with Bay Views
Mentone 20 kms 2 br Apartment $290k+ Auction - with Bay Views
Dandenong 28 kms 2 br Apartment $142,500
Mulgrave 25 kms 2 br Unit $250k
Ringwood 23kms 2 br Unit $240k
Watsonia 16 kms 2 br House $260k+
Greensborough 19 kms 2 br NEW Apartments $250k
Epping 20 kms 2 br Townhouse $220k
Sydenham 22kms 2 br Unit $199,950
Werribee 29kms 2 br Unit $150k
Laverton 18kms 2 br House $199k

The West is still the cheapest if you discount Dandenong

Chris
 
Interesting post.

Are you suggesting one buys in an area because it is cheap?

There will always be cheap areas in every city - but is that where you would put your money - I wouldn't?
 
Michael Yardney said:
Interesting post.

Are you suggesting one buys in an area because it is cheap?

There will always be cheap areas in every city - but is that where you would put your money - I wouldn't?
Click to expand...

Hi Michael,

Given that the inner suburbs have risen by such a large % over the past few months, where would you consider buying in Melbourne at the moment?

Regards Jason.
 
Michael

No I am not suggesting anything - this was in response to another post talking about the median in Melbourne suburbs. I was just trying to give an around Melbourne comparison of 2 bedroom properties on a trainline.

It is my belief that it is pointless comparing medians if you do not know the areas - a house in Toorak compared to a house in Dandenong is not comparing apples with apples, but, I thought if I took the lowest denominator in each suburb it would give a slightly better idea of what is happening in Melbourne.

I was trying to assist interstate Somersoft Members - do you have any other suggestions?

Chris
 
A good friend of mine lives in a 2br luxurous 3 level Town House in Mordiallic (10 min walk to town centre, 15 min walk to beach). He bought for around $290 k around 4 years ago and I was surprised when he told me it was by worth no more than 375k max now.

I have stayed with him a couple of times now and I really love the area. It has a great village real to the town centre and the beach is really nice.

We have an IP way over in Point Cook but I think Mordiallic will be really good for long term CG given its current price point compared with Mentone and closer in

Jase
 
Chrispy:
Following various discussions going on about the various suburbs in Melbourne, I just did a quick circle around the 20-30 kms range, of suburbs on a trainline, property with 2 BR and came up with these offers on realestate.com for anyone interested - I thought some of the interstate members may like a price guide of the suburbs:

Mordialloc 23 kms 2 br Apartment $295k+ Auction - with Bay Views..182%
Mentone 20 kms 2 br Apartment $290k+ Auction - with Bay Views...185%
Dandenong 28 kms 2 br Apartment $142,500...157%
Mulgrave 25 kms 2 br Unit $250k...150%
Ringwood 23kms 2 br Unit $240k....139%
Watsonia 16 kms 2 br House $260k+.....143%
Greensborough 19 kms 2 br NEW Apartments $250k.....127%
Epping 20 kms 2 br Townhouse $220k......117%
Sydenham 22kms 2 br Unit $199,950.....114%
Werribee 29kms 2 br Unit $150k......107%
Laverton 18kms 2 br House $199k.......176%
Click to expand...

....and also... without suggesting anything in terms of buying what, where and how....I have put in the 10 year median house price change (as expressed in a percentage)...along side the suburbs Chrispy has used as an example..just for fun :)

For example: Mordialloc Median House Price in 1994 was: $127,500.......by 2004: $360,000......so a change of 182%

Laverton was 1994: $78,000............by 2004: $215,000.....change of: 176%

It's all quite interesting.

I have IP's in regional cities...none in any of these places, but I have the Valuer-General Stats for 1994-2005; nice to share.

(Figures are courtesy of Victoria Valuer-General.)
 
OOps...it snuck in, didn't one of our Vic Govts once promise us a train to the "new super football stadium"...they fixed that...did away with the football stadium :D

Chris
 
Our obsession i enjoy your posts with updates on the 94-04 median prices! keep up the goood work, any idea if the valuer general is due an update soon?
 
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