Hi all,
Longtime lurker, first time poster.
On my daily train commute to the city from Ringwood, I have recently noticed the approval for proposed 1 & 2 bedroom apartments complex (totalling 200 apartments) situated right next to Mitcham station.
http://www.mitchamvillageapartments.com.au/
http://www.realestate.com.au/cgi-bi...r=&cc=&c=47729928&s=vic&snf=rbs&tm=1254811451
My first thought was that the prices were pretty expensive, but every time I think that, the market proves me wrong. I am not looking to invest in this complex, but I was interesting in other peoples' views as it seems the high density living that has become standard in the inner city suburbs is now making its way to the outer suburbs. Similar projects are under consideration for Box Hill and Ringwood.
Are these Mitcham apartments a viable investment opportunity considering the price, the lack of schools/universities (therefore the lack of student to rent) and the >20km commute to the city?
Cheers
Longtime lurker, first time poster.
On my daily train commute to the city from Ringwood, I have recently noticed the approval for proposed 1 & 2 bedroom apartments complex (totalling 200 apartments) situated right next to Mitcham station.
http://www.mitchamvillageapartments.com.au/
http://www.realestate.com.au/cgi-bi...r=&cc=&c=47729928&s=vic&snf=rbs&tm=1254811451
My first thought was that the prices were pretty expensive, but every time I think that, the market proves me wrong. I am not looking to invest in this complex, but I was interesting in other peoples' views as it seems the high density living that has become standard in the inner city suburbs is now making its way to the outer suburbs. Similar projects are under consideration for Box Hill and Ringwood.
Are these Mitcham apartments a viable investment opportunity considering the price, the lack of schools/universities (therefore the lack of student to rent) and the >20km commute to the city?
Cheers