Point Cook, VIC

you should be aiming higher...

NewHomeOwner said:
I have no idea what a good price for that property should be as I haven't got any idea about that suburb. But purely from an investment point of view I'd be wanting 6-6.5% return minimum. Rent is around $400 pw for similar properties which means I personally wouldn't pay more than $325K for it :)
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To coincide with the opening of Williams Landing Station, Point Cook is getting a new bus network in just over a month's time.

The current two indirect routes will be replaced by five direct routes that serve new areas and run more frequently during peak times.

Because routes are shorter, more frequent and serve nearer stations some commuters may save as much as 30 min travelling time per day.

http://ptv.vic.gov.au/news/news-pro...for-point-cook-area-from-sunday-28-april-2013

A map is available above.

Note that the new routes run almost exclusively along direct roads. A key lesson is that if you want good transport access it's essential to buy near grid roads rather than difficult to serve dead-end or loop streets (eg Sanctuary Lakes).

This is a geometrical fact that applies anywhere - not just Point Cook.
 
Save 30 minutes? How long was it originally? I seriously don't see the appeal of these areas at all. Spend your whole life travelling to/from work just to have a new house.

Even as an IP they don't perform well. I know people who have IPs in similar suburbs who have had vancancies for months and even when they get a tenant, the yield is not that great.
 
question: we all know that a train station or a new express link in an upcoming and growing and currently area is a great indicator of capital growth, and when the announcement is made investors get in asap

as much as I dont like the point cook area and surrounds,

is there any reason why this area hasnt boomed since the introdution of williams landing train station???? as much as the haters going to hate, there will come a point when land scaricty, price and proximity to the city and ease of travel will result in a boom
 
The reason (my guess anyway) is that these new estates don't have anything that sets them apart from the multitude of other new suburbs that are popping up and are "close to public transport" and "only 25/30/40kms from the city". There may be some conceivable time when land in one suburb may run out but then people will just buy in the other similar suburbs where there is still land.

Rather than being worried about why there hasn't been much CG in these areas, I'm worried about what will happen to these new shiny houses when the worst of peak oil hits. Won't be pretty :eek:
 
cimbom said:
Rather than being worried about why there hasn't been much CG in these areas, I'm worried about what will happen to these new shiny houses when the worst of peak oil hits. Won't be pretty :eek:
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Dont be worried, its their choice, they decided the attraction of a shiny new house with a geographical proximity to the CBD was more important then block size, investment acumen (if any)
 
buzzlightyear said:
Just because land eg agricultural land is there, doesnt make it easily or cheaply converted into new housing.
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Actually it's pretty cheap. Plenty of fire sales in my direction from household corporate names and some of Victoria's biggest land bankers I know in person. How many acres would you like? No capital/interest for it though from my investors. Oversupply.
 
Point Cook

Only my opinion but I think it is underrated. Not sure I would go for any of the three mentioned without further investigation but medium / long term I like Point Cook. I am biased as I live there and like it.
 
That's the thing,

With the new town centre, all the schools popping up, the redevelopment of sanctuary lakes shopping centre, heaps of parks for kids to play in, medical centres, improving transport links......people actually LIKE living there.

It has completely transformed since we built there 12 years ago!

In the long term (that's me boring long term hold mentality) it's going to do okay, short term there looks to be heaps of supply, not a bad time to buy IF your expectations of growth or focus on this realistic.
 
I'm looking purely from a PPOR perspective with my comments on Point Cook, but the older I get the more I realise life is not just about gathering more C/G. (but it is a nice bonus) I also need to live in a comfortable home and enjoy life today. Point Cook sure gives me plenty of bang for the buck from this perspective.
 
ermat said:
I'm looking purely from a PPOR perspective with my comments on Point Cook, but the older I get the more I realise life is not just about gathering more C/G. (but it is a nice bonus) I also need to live in a comfortable home and enjoy life today. Point Cook sure gives me plenty of bang for the buck from this perspective.
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agree,

personally I dont like the west, and would never buy for an invesmtnet there at this point in time
However, if I wasa FHOB, just married with kids or about to have kids,
with no consideration of CG, but lifestyle on a typical FHOB budget

Point cook would be up there as my favourites

You can still get a new 3 bdr house for say $400k, sure you only get a small yard, but its brand new, it is only like 20km from the city (but probably an hours drive if you have to drive in peak times)

Point cook town centre is quite nice, has everything you need, except a cinema. There is coles, woolworths, aldi. and heaps of knock designer type shops

the majority of the people are still quite rough and bogan,
its not in the middle of a rough area either such as hoppers or truganina

but for a first home, I think its perfect
 
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