Preston, Reservoir, VIC

[keroppi_gims]

These suburbs seem unnoticed at the moment. They are inner city (10-11km from CBD). They have great infrastructure, transport, shops, parks, local schools. Moving towards gentrification. Other 10-11km suburbs in the east and south east are all close to $1m.

Any comments?

 

[feihong]

These suburbs seem unnoticed at the moment. They are inner city (10-11km from CBD). They have great infrastructure, transport, shops, parks, local schools. Moving towards gentrification. Other 10-11km suburbs in the east and south east are all close to $1m.

Any comments?

do a thorough search and you'll find they did not go unnoticed

 

[oc1]

Unnoticed?? Hahaha

Tremendous growth over last 18 months!!! Quality (but not the top of the range) stuff has done an easy 50% in that time.

 

[Goldigger]

These suburbs seem unnoticed at the moment. They are inner city (10-11km from CBD). They have great infrastructure, transport, shops, parks, local schools. Moving towards gentrification. Other 10-11km suburbs in the east and south east are all close to $1m.

Any comments?

I agree with oc1, over the last couple of years Preston has definetly found it's feet. Lived their for many years when it's cousins Northcote & Thornbury wre getting all the interest and Preston only got snide remarks. Now there are big plans for the area with very little chance of any bargains.

 

[The_Bludger]

My inlaws bought in Reservoir just before Xmas, in November I think it was and the market has definitely dropped since then in that area. I think inner city has dropped in general as the outer area's begin to make gains from the ripple effect. I am also looking at this area now, but feel there are more drops to come(probably right around Melbourne too) and will wait a little longer.

There was a 60 minutes report last night on property in Aus and pretty much said we are not immune to what happened in the States. I reckon because of shows like this and the negativity in media will makes things worse before they get any better.

 

[oc1]

My inlaws bought in Reservoir just before Xmas, in November I think it was and the market has definitely dropped since then in that area. I think inner city has dropped in general as the outer area's begin to make gains from the ripple effect.

Nah mate. Most stuff has done another 5-7% this year so far. I keep a very very close eye on things here.

 

[Tools]

I think inner city has dropped in general as the outer area's begin to make gains from the ripple effect.

3 or 4 weeks ago a house around the corner from me was auctioned, expecting to get around 700, and it sold for $914,000. And that is unrenovated, and untouched for more than 30 years.

Tools

 

[The_Bludger]

Nah mate. Most stuff has done another 5-7% this year so far. I keep a very very close eye on things here.

I can only go by the little experience I have in the area. My inlaws bought an old weatherboard unrenovated home in a good area for $450K. A house is being auctioned in the same street(5 doors down) and it's heaps nicer and asking price is $380-$400K. I won't dispute it's gone up, this is only my own research and you obviously know the market better than I do.