Pakenham VIC

H

hyperterminal

Hi Guys,
I'm looking to buy my first IP and outlay approx 350-400k.
from an investment perspective I am not biased towards rental
Yield or CG but rather looking for a modest return in both.

Does anyone have an experience of or any thoughts on investing
In pakenham VIC? Would be interested in other forum
Members view of the area for investment ?

Thanks :)
 
hyperterminal said:
Hi Guys,
I'm looking to buy my first IP and outlay approx 350-400k.
from an investment perspective I am not biased towards rental
Yield or CG but rather looking for a modest return in both.

Does anyone have an experience of or any thoughts on investing
In pakenham VIC? Would be interested in other forum
Members view of the area for investment ?

Thanks :)
Click to expand...


Pakenham is a miss - oversupply and overvalued - there has been quite a few issues of late. Officer to clyde is very popular with H&L - with Henley selling 4br 2 bath 2 garage ard $420k, had a few clients buy there off their own accord of course.

There are opportunities closer to melbourne if you happy to look.

Cheers Ivan
 
hyperterminal said:
Hi Guys,
I'm looking to buy my first IP and outlay approx 350-400k.
from an investment perspective I am not biased towards rental
Yield or CG but rather looking for a modest return in both.

Does anyone have an experience of or any thoughts on investing
In pakenham VIC? Would be interested in other forum
Members view of the area for investment ?

Thanks :)
Click to expand...

Realistically you've probably missed the boat with Pakenham. It's already had its major spurt in growth a few years back and at the same time, there is still a lot of stock.

For 350-400k, I'd try look at something a bit closer to the city, even Berwick or Narre Warren (where fountain gate shopping centre is).
 
jippa3000 said:
On what evidence do you base this on?
Click to expand...

101 of investing, buildings depreciate, land appreciates.

Out there, there's acres of undeveloped land with no infrastructure. If you have a 100 year time frame, you MAY have a chance otherwise it's a dead loss unless of course it's a ppor and you have family and work that may tie you to the area. Then it's not just about the money.
 
pieman said:
101 of investing, buildings depreciate, land appreciates.

Out there, there's acres of undeveloped land with no infrastructure. If you have a 100 year time frame, you MAY have a chance otherwise it's a dead loss unless of course it's a ppor and you have family and work that may tie you to the area. Then it's not just about the money.
Click to expand...

I live by the first rule you mention but I think you have used it in the wrong context here.

When was the last time you went out to the area?
Have a read on the Cardinia website and also http://www.mpa.vic.gov.au plenty of good things going on.

Cardinia council has just built new officers in Officer where the new town center will be including a proposed Westfield size shopping centre with movies etc. there's also the M1, princes hwy and a train line.

In regards to land I bought a 590m2 block in Officer 2 years ago for 190k, good luck buying one that size now for under 300k! The thing that will keep the prices at a healthy level is that there are only a few old school developers and they are drip feeding the market. I also bought a unit in a medium dencity site for $345k in pakenham, across the road from the Arena shops (good location), the site sold out in 4 weeks and the lasts ones went for $375k without out even a shovel hitting the dirt.

Demand in the area from Cranbourne east around to Pakenham east will increase due to the high population growth expected and supply is going to be rather low which should be another driver. I think the next 10 years will be pretty exciting in the area.
 
That's great James, you seem to have done well with those purchasers - well done to you, however the OP was asking for an opinion and I was giving her another one based on my experience which maybe wrong or right and have no relevance for the future. You know, past performance is no indication of future performance and all that.
 
pieman said:
That's great James, you seem to have done well with those purchasers - well done to you, however the OP was asking for an opinion and I was giving her another one based on my experience which maybe wrong or right and have no relevance for the future. You know, past performance is no indication of future performance and all that.
Click to expand...

Totally understand and wasn't having a go.

The area did have quite a bit of a stigma attached to it but time has changed the place enormously. Obviously there are areas like in any suburb to stay away from, so just do your research and you'll be fine.

Any questions MI just send me a PM I'd be happy to help
 
MelbInvester said:
It is Cherrington Ave. - SUNDEW RELEASE STAGE 1

Sorry, Land Size is 290 Sqm and 164K ( Corner Block)

MI
Click to expand...

Ahh yep, those blocks have gone up about 2k recently. Being a corner block you will loose a heap of usuable area due to side set backs. If you are looking for investment in Officer you can't go past Aspect, PM and I can send you the current price list and stock available (I get land updates sent to me every week for most estates)
 
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