Question on Seddon

[Nick_A]

Hi all im new here, have been reading the forum for a while and love this site. I'd really appreciate some peoples opinions on Seddon. Im looking at getting my first IP in the western suburbs of Melbourne, and Seddon is an area i'm interested in. I am hoping to get a 2 bedroom apartment in the range of $300,000- 360,000. I know there has been strong CG in Seddon in recent years, do people on here believe its still good value (like West Footscray for example)?
Also what are peoples thoughts on the eastern side of seddon over the railway lines, ie. not Charles street (Hyde st, Nicholson St, Princess st...)
Many thanks in advance

 

[Tuppence]

Hi Nick, I think you should be able to get a 2bedder in the area for your price range. We looked at one in Albert Street, just down from the university, late last year that went for about $300,000 from memory. It needed some pretty serious cosmetic work, and had the train lines directly behind the building, but nice city views and excellent potential.
I don't mind the area to the east of the railway lines - but I'd definitely stick to a 2bedder if possible (IMHO), and some of the blocks of flats out that way seem to be made up of 1 bdrms.
Seddon itself is a pretty small area, and you do sound like you might be limiting yourself a bit in your search - don't rule out Yarraville or parts of Footscray and, as you also mention, West Footscray. Those last two would be very much in your price range.
As to value, I'm no expert, but I think all these areas tick the fundamental boxes that will mean there is more growth to come - infrastructure, proximity to the city, restaurants, other services, etc. Finding that value right now could be a bit trickier, however, with the way the market has been.
Good luck with the search ...