Melbourne

[West Coast-PI]

Looking to invest in Melbourne for another IP, what are peoples thoughts on Point Cook (new area, depreciation etc), Altona Meadows, Sanctuary Lakes, Seabrook and Werribee? Living in Perth so hard to get proper feel of the areas.

 

[tubs]

Do a search. There have been plenty of threads on these areas in the past.

They are a fair way from the city, and have a lot of undeveloped land in them.

There were some reports of building problems in Sanctuary Lakes. You might want to check these posts as well.

 

[Georges]

Try Melton if u interested

 

[Rodney]

i would suggust buying in Rosebud. Its about 1hr from Melbounre and sells are going off at the moment.

I got a place in rosebud last week for $240k within 800m to the beach and prices are on the rise.

Rosebud - beach, Kmart, Coles, Safeway, KFC

its a great price.

I would also suggust Blackburn, Blackburn South, Blackburn North, Box Hill, Nunawading. They are going to keep growing well in the future with a current high demand for reatal properties.

 

[West Coast-PI]

Thanks for the replies...I have heaps to consider - ~Will do some more research - Based on the responses though I think I might go to my second preference area = Reservoir/Fawkner/Glenroy...or if prices there hike too much....my 3rd Preference area = ~ Frankston (Noticed someone mentioned ROSEBUD - better than FRANKSTON??...Just wish I could buy more properties - Melbourne really does offer good value for money.
Cheers