Point Cook Vs the East

[darkage]

Im currently having a debate with my co-worker..

Argument is in 6 to 10 years time which one will out perform the other..

Todays prices -

Point Cook say $450k for a nice house on 550sqm

Rowville $500k for a 20 years house on probably 650sqm.

Purely from a financial point and appreciation help me throw back some arguements to my friend..

My arguments for Rowville are,

- Appreciation starts from day 1
- Next inline for chinese migration from Glen Waverley perhaps.


My friends argument is

- Perceived closer distance to the city.
- People would want newer houses
- All growth is focussed on this area.

 

[Lady.J]

Im currently having a debate with my co-worker..

Argument is in 6 to 10 years time which one will out perform the other..

Todays prices -

Point Cook say $450k for a nice house on 550sqm

Rowville $500k for a 20 years house on probably 650sqm.

Purely from a financial point and appreciation help me throw back some arguements to my friend..

My arguments for Rowville are,

- Appreciation starts from day 1
- Next inline for chinese migration from Glen Waverley perhaps.


My friends argument is

- Perceived closer distance to the city.
- People would want newer houses
- All growth is focussed on this area.

i will vote Rowville as we are looking at houses there right now.it looks like a nice place. just there is no train station and the place we are looking at it which it is far away from bus station. but i still prefer for the east..i get scared for the tiger snake in the west...

 

[pieman]

Personally i would prefer point cook as its closer to the city and is prettier than out at rowville imho. If you like sitting in the car on the south eastern, perhaps Rowville is the go. My colleagues at work tell me on a bad day, one way can take 1.5 Hours. For me, thats a killer and just think it can only get worse as there is heaps of development hapening on the south eastern.

I call it "sticks penalty".

Buy in the sticks and get slow growth (yes, yes i know not always) and spend at least 2 hours a day sitting in the car, as well as having less access to all that the middle tier suburbs can offer. Sounds like hell.

 

[darkage]

i will vote Rowville as we are looking at houses there right now.it looks like a nice place. just there is no train station and the place we are looking at it which it is far away from bus station. but i still prefer for the east..i get scared for the tiger snake in the west...

But theres always tiger snakes in new housing developments, after awhile they run away I think *In theory* except for those areas bordering natural areas.

 

[buzzlightyear]

Point Cook - no brainer

Where is the growth in Melbourne's growth boundaries? North and west. We cannot build further east.

In ten years time Point Cook will be deemed as a middle suburb (not forgetting it is ~20km from CBD today,) will be serviced by trains when they are built - http://www.transport.vic.gov.au/web23/Home.nsf/AllDocs/7C5896995BC776AECA257625001CC9BE?OpenDocument. Aside from that, they will be far closer to the water/beach. We have growth of Geelong going up the coast and Melbourne expanding south-west. Think of this connection a bit like how Brisbane and Gold Coast.

Look at the pricing strategies of land developers and their pricing has steadily increased and Melbourane is still the most affordable land when compared to Sydney and Brisbane. New land releases continue pricing increases as there is no or little developable land relative to demand.

Demographic changes and pricing constraints will and are currently forcing people to look at the north and west.

Medium density isn't going to happen in the established east and south eastern suburbs that will make any material impact on housing supply. People will and are looking elsewhere.

The recent extension of the Melbourne urban growth boundary is still 2 years away from actually coming on to the market and it is effectively 4 years worth of housing supply. It will need to be extended again. Land price increases will continue to push up property prices in the west and north.

There is no similar compelling demand and price pressures pushing up prices in the east.

Good luck with your choice.

 

[The Y-man]

Rowville prices will probably skyrocket when thay deal with their #@%@$! internet issues!! Local exchange sockets are full apparently so no more connection to ADSL 2+

Maybe in addition to the Chinese demand, the area is beginning to appeal to the Muslims due to the Lysterfield Mosque on Wellington Rd.

The Y-man

 

[zed_kid]

We cannot build further east.

There is no similar compelling demand and price pressures pushing up prices in the east.

You just gave a reason why the east will go up

 

[darkage]

Personally i would prefer point cook as its closer to the city and is prettier than out at rowville imho. If you like sitting in the car on the south eastern, perhaps Rowville is the go. My colleagues at work tell me on a bad day, one way can take 1.5 Hours. For me, thats a killer and just think it can only get worse as there is heaps of development hapening on the south eastern.

I call it "sticks penalty".

Buy in the sticks and get slow growth (yes, yes i know not always) and spend at least 2 hours a day sitting in the car, as well as having less access to all that the middle tier suburbs can offer. Sounds like hell.

I live in the South East.. Stick Penalty?? I believe the West has the Westgate Penalty during peak hour where you have to adjust your travel time to non-peak periods.

The East has multiple main routes into the city, on the West theres really only two ways into the city.. All the major growth is focussed in the West, sure for now peak hour is bad but when the area becomes more densely populated.

Traffic wise I would rate it the same, I live before Rowville and always takes me just under 1 hour both ways. It can take 1.5 hours on a off chance bad day if you don't properly select which route you want to take, ie. Monash Fwy vs Dandenong Road.. Every day I alternate and dont have an issue.

 

[The Y-man]

Keep in mind to that a lot of the residents of the SE do NOT commute to the city - many work in the offices and industrial parks of places like Mulgrave, Mt Waverley, Clayton, Noble Park, Dandy South etc.

Cheers,

The Y-man

 

[units4me]

I think that for us being in the East, going into the city is far less important than in the West. There are a LOT of major centres (ie Sth yarra, Camberwell, Box Hill, Glen Waverley, Richmond, Hawthorn etc.) with heaps of good employment and everything else throughout the middle and inner south/east. Not much really comparable from the west, inner city there is mostly industrial except maybe Essendon and Williamstown areas.
BTW, Point Cook is still about 26 kms to CBD, about the same distance out as Ringwood.

 

[pickle pickle]

There is one point that will make the East prefarable to the West. It's called the sun. Try driving west during a sunset.

I assume the same issue arises when driving east when the sun is rising.

As many people work in the CBD, I believe the sun factor is a real factor in deciding between East and West.

 

[zed_kid]

There is one point that will make the East prefarable to the West. It's called the sun. Try driving west during a sunset.

I assume the same issue arises when driving east when the sun is rising.

As many people work in the CBD, I believe the sun factor is a real factor in deciding between East and West.

Haha that’s probably the worst east vs west argument I’ve heard, well done sir.

If you’re making a huge financial decision on the sun being in your eyes when driving to and from work then there is something wrong with your thought process. Buy some sunnies or drink a glass of cement

 

[mpgrewal]

Where is the growth in Melbourne's growth boundaries? North and west. We cannot build further east.

In ten years time Point Cook will be deemed as a middle suburb (not forgetting it is ~20km from CBD today,) will be serviced by trains when they are built - http://www.transport.vic.gov.au/web23/Home.nsf/AllDocs/7C5896995BC776AECA257625001CC9BE?OpenDocument.

Well said. Western suburbs of Melbourne like Tarneit, Truganina, Point Cook,etc will prosper a lot in coming 2 years. Close to the city, close to beach, close to great ocean rd.. Those who will invest now will reap benefits in 2-3 years when the price shoots up.

 

[zed_kid]

The west is struggling for infrastructure, more road please

 

[Meily]

I myself live in Point Cook. i used to live in East. I then moved to West for more affordable house and a pleasant living area like Point Cook. We built a house and we love the area. Of courase if you ask where i would prefer, i would say it depends on what you want to achieve.

For West like POint Cook, living is super good as it's a new area, you live in a new home and this areas have heaps of babies. Many Chinese & Indians live here, they are competitive and i believe the education will becoming better.

If for investment, i would still think that it's worth to buy somewhere established. That's not saying West is not a good area, but those are more for 'long-term' investor. For a quick turn around i would think East and for a slow and steady, i would choose West.

 

[buzzlightyear]

You just gave a reason why the east will go up

Didn't say the East wouldn't go up. I am of the opinion based on the recent research that I have done, that there is more scope for growth in the West.

This link is not the be all and end all and I could point to other information about infrastructure expenditure but intuitively, there are large nationwide land developers spending huge amounts of money in these areas. These do not happen without agreements from government about infrastructure to support these. The extent of the changes being proposed even surprised me.

http://www.gaa.vic.gov.au/growth_areas/

 

[buzzlightyear]

If for investment, i would still think that it's worth to buy somewhere established. That's not saying West is not a good area, but those are more for 'long-term' investor. For a quick turn around i would think East and for a slow and steady, i would choose West.

Given the land pricing strategies being proposed by the large land developers in these areas, I am actually of the opinion, that these will continue to increase the price of property. You only need to see the land price costs increases in the past 5 years. And they are still more than affordable when compared to the east.

Given the recent price increases the east and south east have seen large increases, going forward, their increases will be far more measured. The west has a growth story not matched by the east.

But, that's just my opinion.

 

[sash]

Ditto Buzz....just 3-4 years ago you were picking land for 135k....now it starts in the low $200s for Point Cook!

The East is no longer cheap....affordability, modern homes, and infrastructure (i.e. rail, shopping centres) will drive prices increase in the West.

Unfortunately, people who live in Melbourne are influenced by the areas past...so these perceptions still but the new immigrants don't care about this history.

Given the land pricing strategies being proposed by the large land developers in these areas, I am actually of the opinion, that these will continue to increase the price of property. You only need to see the land price costs increases in the past 5 years. And they are still more than affordable when compared to the east.

Given the recent price increases the east and south east have seen large increases, going forward, their increases will be far more measured. The west has a growth story not matched by the east.

But, that's just my opinion.

 

[buzzlightyear]

Ditto Buzz....just 3-4 years ago you were picking land for 135k....now it starts in the low $200s for Point Cook!

If you are lucky to get decently located land at low $200k's that still a bargain or a misprint. Mid 2 to low 3's seem to be the norm now.

 

[sash]

Yep...the odd blocks advertised for $235 (less than 400 sqm with narrow frontages - i.e. less than 13 meters wide)....probsbly pick them up for $220k

Otherwise you are paying from $260k up....Werribee blocks are looking like bargains....given they sell for less than $150k for some. I bought my house in Werribee for $130k in 2006!

If you are lucky to get decently located land at low $200k's that still a bargain or a misprint. Mid 2 to low 3's seem to be the norm now.