Melton (VIC) buy or not to buy?

[MIST]

I think it is still good to buy in Melton area because there is still space for a properties to go up. I've bought a block of land in Brookfield in April 2009. Settlement was in Feb 2010. 520m2, 16m frontage for 106k. I can sell it now for 170k+ easy. I am planning to sell it in 2012-2013 for 200k+. Anyone who bought in Melton 2-3 years ago will make a money on it. As I said I think Melton is still ok to buy, prices will go up (my opinion). Excuse my english, it's not my first language.

Cheers,

MIST

 

[RSB]

Melton

You are right,I bought property in melton for 220k in 2008. I think it's now 300k. Not a bad growth. Remember slow and steady wins the race.
RSB

I think it is still good to buy in Melton area because there is still space for a properties to go up. I've bought a block of land in Brookfield in April 2009. Settlement was in Feb 2010. 520m2, 16m frontage for 106k. I can sell it now for 170k+ easy. I am planning to sell it in 2012-2013 for 200k+. Anyone who bought in Melton 2-3 years ago will make a money on it. As I said I think Melton is still ok to buy, prices will go up (my opinion). Excuse my english, it's not my first language.

Cheers,

MIST

 

[sluggo33x]

I'm not familiar with VIC or more specifically Melton, what would be a comparable area in NSW?

 

[zed_kid]

I'm not familiar with VIC or more specifically Melton, what would be a comparable area in NSW?

Mt Druitt......

 

[sluggo33x]

Ouch! So it sounds like Melton and Frankston have similar socio-economic make ups and reputations? I'm planning on spending a weekend in VIC shortly and driving around these two areas and a few others i have on my shortlist to see for myself.

 

[Electro]

Ouch! So it sounds like Melton and Frankston have similar socio-economic make ups and reputations? I'm planning on spending a weekend in VIC shortly and driving around these two areas and a few others i have on my shortlist to see for myself.

Be sure to take a gun No seriously they're not as bad as people make out.

 

[sluggo33x]

I always pack heat

 

[Tony3008]

Ouch! So it sounds like Melton and Frankston have similar socio-economic make ups and reputations? I'm planning on spending a weekend in VIC shortly and driving around these two areas and a few others i have on my shortlist to see for myself.

I've got an IP in each, but (from someone who lives in Docklands) the two areas have a completely different feel to them. Frankston is part of continuous urban development all the way to the CBD, something like 23 stations and an hour on a suburban train service that runs several times an hour. Melton feels to me much more like a country town - relatively fast but few VLine trains (but still Zone 2), and coming from the city you pass mile after mile of (as yet) undeveloped land before arriving in Melton. My Melton property is a town house just off the High Street; I'm told that Melton South is a much less desirable area.

 

[jayshi]

Hi All, Last couple of weeks I was looking properties in Melton, Melton South, Melton West and Kurunjang ( All old houses). I am thinking to buy a house in large block and later build a unit at the back ( depending on councile approval). Most of the old houses are on stumps. I am bit worring about stumps. Guys, what;s you thought about this. Do you know where can I find the information about subdivide the existing block?

 

[woohoo]

Hi,

for those who have properties in Melton, can I ask a question about water supply and sewerage charges?

I get regular charges by Western Water which includes water supply and sewer.

But I remember I do get another bill from another company for water/sewer, i cant remember which company it was. I remember last year talking to Western Water about why I am getting charged by 2 companies, they said it is 2 separate companies in Melton.

Anyone got the same?

 

[Kinnon Bell]

Hi,

for those who have properties in Melton, can I ask a question about water supply and sewerage charges?

I get regular charges by Western Water which includes water supply and sewer.

But I remember I do get another bill from another company for water/sewer, i cant remember which company it was. I remember last year talking to Western Water about why I am getting charged by 2 companies, they said it is 2 separate companies in Melton.

Anyone got the same?

Yep. IIRC one if for your personal water usage and the other is a water rates charge for nature strip maintinence (about $70 p/a, I can dig up the bill and see if it's the same gov/company name if you like). For me it's them watering the 1 gum tree in my nature strip. Maybe I should send them an invoice for the hundreds of dollars I spent doing up my nature strip....

 

[woohoo]

Kessee,

is it called IIRC? Never heard of them before. I know there is another company charging some rates related to water/sewer apart from Western Water, I just couldn't find the statement....

 

[Kinnon Bell]

Kessee,

is it called IIRC? Never heard of them before. I know there is another company charging some rates related to water/sewer apart from Western Water, I just couldn't find the statement....

Hi Woohoo, I was being lazy and typed 'IIRC' as an abbreviation for 'if I recall correctly'.

I cant recall their name at the moment either. I'm on a train at the moment but when I get home I'll get an old statement for both companies and let you know their names.

 

[CHam]

Have you looked at the prices in Clayton these days? I wish I had bought there 5 years ago!!

 

[Bayside]

Ouch! So it sounds like Melton and Frankston have similar socio-economic make ups and reputations? I'm planning on spending a weekend in VIC shortly and driving around these two areas and a few others i have on my shortlist to see for myself.

I don't think they do, remember Frankston South is a very wealthy area.
Frankston has much better infrastructure and is in a much better location.

 

[Kaz111]

Hi,

I get regular charges by Western Water which includes water supply and sewer.

But I remember I do get another bill from another company for water/sewer, i cant remember which company it was. I remember last year talking to Western Water about why I am getting charged by 2 companies, they said it is 2 separate companies in Melton.

Anyone got the same?

Its Western Water for Western Water charges (sewer & water) and Annual Melbourne Water Charge (waterways & drainage)
Its City West Water for Annual Parks Charge (maintenance of Melbourne's parks & gardens)

How do I know this?

Received a $181 bill (3 years) after settlement as the previous owner had not paid the 2 years prior and neither conveyancing firm picked up on the separate charges. Grrrr

Paid it so I didn't get into trouble.

 

[woohoo]

Its Western Water for Western Water charges (sewer & water) and Annual Melbourne Water Charge (waterways & drainage)
Its City West Water for Annual Parks Charge (maintenance of Melbourne's parks & gardens)

How do I know this?

Received a $181 bill (3 years) after settlement as the previous owner had not paid the 2 years prior and neither conveyancing firm picked up on the separate charges. Grrrr

Paid it so I didn't get into trouble.

Hi,

yea u are right. Its the City West Water one..... everybody in Melton gotta pay it..... but its ok, not much.

 

[damien275x]

To all those who are bashing Werribee/Wyndham in General, have you actually lived in these suburbs, or are all of your opinions based on what you think of the area

I would like to point out that Williamstown was a rough, horrible area in the 1970's. Same with Yarraville. The stigmas slowly fade and you have to look at the long term trends.
You should be buying undervalued/fair valued properties, not overvalued ones, that is of course if you want to make money, perhaps you just want the prestige

 

[Property Meister]

To all those who are bashing Werribee/Wyndham in General, have you actually lived in these suburbs, or are all of your opinions based on what you think of the area

I would like to point out that Williamstown was a rough, horrible area in the 1970's. Same with Yarraville. The stigmas slowly fade and you have to look at the long term trends.
You should be buying undervalued/fair valued properties, not overvalued ones, that is of course if you want to make money, perhaps you just want the prestige

I have worked and spent a crapload of time there, but never owned/rented a house in these areas,

we arent bagging it for the sake of bagging it, we arent saying this sort of stuff just to bignote ourselves,

the fundamentals that we go by dont add up, simple.

Yes, in 20 years time, people from toorak may be all moving to these areas, Likely? no! Possible? ANything is possible!

I wasnt in the property scene when Williamstown was rough, but it would not surprise me a bit if all the smart investors back then were either buying in to it or were actually recommending it

maybe someone can clarify, was it the late 90s?

 

[Property Meister]

for the record damien, I just did asearch for 1bdrs+ on re.com to eliminate residentail land,
http://www.realestate.com.au/buy/with-1-bedroom-in-point+cook,+vic+3030/list-1?source=refinements

although the function is nowhere near perfect, there is 2900 properties for sale,just 12 months ago, when I looked, the figure was something like 800-1100

that is a hell of a lot of properties for a suburb or two

no wonder the vacancy rate is high and climbing, wouldnt be surprised if it was 10%+