Pakenham Is it an investment area??
- Thread starter fyrbrd
- Start date
I haven't been out there for a while, but it's in the "growth corridor" and now has the new freeway extension out to Warrigal which brings you nearer to it.
Could be good for longer term cap gain; I think the real boom times have been and gone, and I don't know the rental market well.
It's within striking distance to Frankston Hospital, the Uni at Narre Warren and Frankston, but don't know abbout other schools and shops.
Just a quick look on r/e.com.au showed a high number of new "tract" homes for rent, here's one;
http://www.realestate.com.au/cgi-bi...t=&header=&cc=&c=56081010&s=vic&tm=1241732274
similar houses for sale were around the $300k+, but I saw this:
http://www.realestate.com.au/cgi-bi...t=&header=&cc=&c=75640163&s=vic&tm=1241732563
If you could rent the second one for same as the first one, you've got a champion, but I doubt it is that way. I'm sure they are apples and oranges.
You would need to drive around there and see the locations and house styles to get a better idea.
Could be good for longer term cap gain; I think the real boom times have been and gone, and I don't know the rental market well.
It's within striking distance to Frankston Hospital, the Uni at Narre Warren and Frankston, but don't know abbout other schools and shops.
Just a quick look on r/e.com.au showed a high number of new "tract" homes for rent, here's one;
http://www.realestate.com.au/cgi-bi...t=&header=&cc=&c=56081010&s=vic&tm=1241732274
similar houses for sale were around the $300k+, but I saw this:
http://www.realestate.com.au/cgi-bi...t=&header=&cc=&c=75640163&s=vic&tm=1241732563
If you could rent the second one for same as the first one, you've got a champion, but I doubt it is that way. I'm sure they are apples and oranges.
You would need to drive around there and see the locations and house styles to get a better idea.
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I think it will continue to grow.
I still maintain that building an international airport there would be even better
1. most people live out that side of town (compared to Tulla or Avalon)
2. Dandenong can be a second CBD
3. plenty of flat ground (ok, so it might get flooded if the drought ever breaks)
Cheers,
The Y-man
I still maintain that building an international airport there would be even better
1. most people live out that side of town (compared to Tulla or Avalon)
2. Dandenong can be a second CBD
3. plenty of flat ground (ok, so it might get flooded if the drought ever breaks)
Cheers,
The Y-man
I still maintain that building an international airport there would be even better
lol an international airport funny but true if we had an airport down this end WOW imagine the amount o business people would get =D
I live about 15 minutes out of Pakenham, and as said below, it's definately in the growth corridor. If you're looking at it for long-term capital gains, the south-eastern sprawl is probably going to ensure that you do get some decent gains but at the moment, I couldn't see much happening there.
Theres a lot of sales in and around the area at the moment, it's at the lower end of the socio-economy scale, but theres definately some bargains to be had there.
If only they'd build an international airport out this way, would definately boost things down here.
Theres a lot of sales in and around the area at the moment, it's at the lower end of the socio-economy scale, but theres definately some bargains to be had there.
If only they'd build an international airport out this way, would definately boost things down here.
Plenty of new estates going up around McGregor road, was it one of those house and land packages they're advertising around there at the moment, or just land?
I Was looking at buying around there for a while, but decided on Narre Warren instead. Give it around 10 years, and I'd think that Pakenham is just as busy as Narre, it's definately next in line.
I Was looking at buying around there for a while, but decided on Narre Warren instead. Give it around 10 years, and I'd think that Pakenham is just as busy as Narre, it's definately next in line.
nah just land, whole reason i was asking is the fact that i do want to buy more properties ill settle on this prop for 1-2yrs then start the buying spree, im not sure whether id do the whole rent thru an agent or the whole renovate resell.
But anyway getting back to the point if you guys suggested pake was gonna be a dead end then i would have cancelling the contract as titles arent anywhere near ready and gone to look in frankston or near by.
But anyway getting back to the point if you guys suggested pake was gonna be a dead end then i would have cancelling the contract as titles arent anywhere near ready and gone to look in frankston or near by.
I bought in Pakenham last year and am pretty happy with it. I purchased close to just about everything in the area like schools, shops, etc, and it became positive quite a few IR drops ago. The bypass certainly makes a difference to travel time too.
One thing I took note of, they certainly love their takeaway food in Pakenham
One thing I took note of, they certainly love their takeaway food in Pakenham
If I said jump off a cliff would you?
Don't take what we say as gospel - we don't have the chrystal ball.
Do your own research and back your judgement.
I agree with that. The land is limited in Frankston.
If you're looking at it long-term, you'll probably definately see a rise in Pakenham. Who knows whether it'll be within 2 years, or 20 years though. I wish I did!
If I had to choose between Frankston and Pakenham though, Frankston would definately be the best option, quite a few developments happening down there in the near-future, and being a bay-side suburb is always handy.
But as said below, it's best to do all your own research and make the decision based on your judgement/situation. Obviously you're going to have differeing opinions, but at the end of the day, you have to be happy and comfortable with the decision you make.
If I had to choose between Frankston and Pakenham though, Frankston would definately be the best option, quite a few developments happening down there in the near-future, and being a bay-side suburb is always handy.
But as said below, it's best to do all your own research and make the decision based on your judgement/situation. Obviously you're going to have differeing opinions, but at the end of the day, you have to be happy and comfortable with the decision you make.
obviously i dont take what you say as gospel but just as someones opinion if i took someones opinion 3 years ago i would have been 100k up on an investment prop.
but thanks for the concern
I have been watching this suburb for last 6 months. Now everything around 300K-330K gets sold very quickly, I think Mr. Rudd grant is fueling the prices. Last year there were plenty of properties available for 250-300k. Now some properties are sold within 4hr, if you believe the agent
http://www.realestate.com.au/cgi-bi...er=&cc=&c=7550457&s=vic&snf=rbs&tm=1242013618
http://www.realestate.com.au/cgi-bi...er=&cc=&c=7550457&s=vic&snf=rbs&tm=1242013618
How's the block size - 400sq/m
It's amazing how things have changed.
Dam if thats the price for that lot then i made a dam good choice 4bdrm plus study 2 family rooms, living Rm island kitchen MASSIVE backyard all situated on a 650sqm block wonder what id get lol
