Point Cook - any opinions

[chb]

hi looking at investing here very soon
have the contracts in the hand and i thought i'd just like to see if there are any new opinions about point cook?


I'm a bit pessimestic about buying(land) as after we build a house on it, it might not be worth what we paid for the land + house after a year or two as prices might come down

But still might take the plunge

 

[natedog]

Hi CHB,

This is a very specific 1 house example, and it was coming off a 2 year lease, but we just raised rent on IP in point cook by 25% just recently!!

Quite happy

Cheers,

 

[imonmyway]

The thing i hate about new areas is that they are just suburbs full of houses with no town centre type feel this is why when I bought in Altona a few years ago I didnt build for a comprable price in Point Cook. The new shooping area has all the signs of bringing the point cook area together it looks really good. They have a fruit market, target, coles and outdoor cafes.

 

[alexgsz]

The thing i hate about new areas is that they are just suburbs full of houses with no town centre type feel this is why when I bought in Altona a few years ago I didnt build for a comprable price in Point Cook. The new shooping area has all the signs of bringing the point cook area together it looks really good. They have a fruit market, target, coles and outdoor cafes.

All of which Im told has now opened and is very busy. Add to that the new overpass to ease congestion getting onto the freeway and you can see Point Cook is doing quite well.

Speaking to family recently the local priest for the area was saying they are looking at opening another 2 primary and 2 secondary schools to meet future demand. He was hold talks at the local primary school saying how places are basically full and they'll be accepting people based on who are regular church goers/contributers.
Looks to me like signs of a growing area.

Oh one more thing on the shops, not sure if people are aware but they actually relocated some of the shops that were in hoppers crossing (eg: The large target store) and they are now based in the new point cook town center.

Sorry if I seem like I'm talking up the area, but I've got my ppor there, which I'm looking forward to returning to in 22 days

 

[chb]

How's traffic in the morning?

 

[our obsession]

Long term consideration...

CHB, you might like to have a look at 1997 to 2007 median house price statistics, (courtesy of Victorian Valuer-General)... a little more knowledge under the belt.

Link is here, is in pdf format:

http://www.news.com.au/heraldsun/files/median house prices by suburb.pdf

In particular:

Point Cook 1997 median house price was: $127,500...........2007: MHP $350,000

Change from 2006 to 2007 expressed in % 4%

Change from 1997 to 2007 in %: 175%

Growth Per Annum in % again: 10.6

Note, I do not have IP's there, am just having too much fun in regionals, suits me, plus I know my areas.. Just sharing some longer term info available with you and anyone else considering...the link will give you long term growth (median prices) sourced from Vic Valuer-General, for all of Victoria.

 

[Belu]

just a note: I work at *major telco* and we are about to build a shop out there, see it as a growth corridor.

just an FYI

 

[alexgsz]

How's traffic in the morning?

For me personally fantastic, as we selected a prime location well before the new overpass was even started.

So it takes me about 20 seconds to get onto the freeway
5 minutes to get to the zone 1 train station
2 minutes to the shopping centre.
Walking distance to 3 local schools and a little corner shop.

Being local to the area before any of the estates were up may have helped us in that regard


But i know the point your making, I had a mate who lived in Sanctuary lakes. Pre overpass he said it took him 20-30 minutes to get to the freeway and 20-30 minutes to get into the city. I havent been back since the overpass opened so don't know how that has cut the sanctuary lakes times down.

alexgsz

 

[natecv8]

I live in Pt Cook and love the area here. It's perfect for young families and with the new shopping centre complete I can't say we want for much.

I work in Geelong, so it takes me minutes to get onto the Freeway, and around 30 minutes until I'm in Geelong. There's a protected coastal park just off Point Cook Road which is great for bbqs and for kids, and Werribee South beach is only 5 minutes away.

Getting to Werribee is easy with the Sneydes Road overpass.

I plan to get in on the Wyndham Harbour development which is kicking off soon. I think the ferry across the bay, if it eventuates, will be a great addition.

Salt mine or no salt mine, the area looks perfectly stable to me. It's not like we're sitting on weak foundations, just the nice type of rock hard clay that we love to dig up

 

[thyechen]

Hi,I bought a completed house in Pt Cook recently.Is chepaer to buy a completed house even taking into consideration the duty saving, but is older design.

I think Pt Cook is one of the most well plan area in Melbourne.

 

[Carl]

didnt see this posted on this thread, but may be of interest.

http://www.realestatesource.com.au/...-Costa-Buys-Point-Cook-Development-Sites.html

 

[thyechen]

Hopefully the ne wphase of the town centre with the library, due in Nov 09, and the new selective entry school in Werribee will add value to the suburb as a whole.