Rosebud west?
- Thread starter Rodney
- Start date
It's coming along nicely, and although still moving slower than some other foreshore pockets along the Mornington Pen, is a wise investment choice with entry level still quite affordable for the average investor.
For a few links of interest check out:
http://www.mornpen.vic.gov.au/content/content.asp?cid=763&tid=763&tpid=396&cnid=1768
http://www.id.com.au/mornpen/forecastid/default.asp?id=118&pg=1&bhcp=1
http://www.mornpen.vic.gov.au/Docum...sible Gaming StrategyIssues Paper 080107.pdf
http://www.alpvictoria.com/alp/pdf/policies/South_Eastern_Suburbs.pdf (page 3)
A bit dated, but still worth a look:
http://www.dpi.vic.gov.au/CA256F310024B628/0/FA9CCD2AEB67ACEDCA2571680081690F/$File/Rosebud+West+-+Datasheet.pdf
IMO....nice choice!!!
For a few links of interest check out:
http://www.mornpen.vic.gov.au/content/content.asp?cid=763&tid=763&tpid=396&cnid=1768
http://www.id.com.au/mornpen/forecastid/default.asp?id=118&pg=1&bhcp=1
http://www.mornpen.vic.gov.au/Docum...sible Gaming StrategyIssues Paper 080107.pdf
http://www.alpvictoria.com/alp/pdf/policies/South_Eastern_Suburbs.pdf (page 3)
A bit dated, but still worth a look:
http://www.dpi.vic.gov.au/CA256F310024B628/0/FA9CCD2AEB67ACEDCA2571680081690F/$File/Rosebud+West+-+Datasheet.pdf
IMO....nice choice!!!
Valuer-General figures for the 10 year period 1994-2005 show median house price at Rosebud 1994: $83,000....and 2004: $235,000...a change of 183%
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It looks attractive, but it's currently a low-income area with many age pensioners. For the area to appreciate people with more buying power would need to want to live there.
Draw a 20km circle around Rosebud West and consider the number of jobs in the area. There's not many, so working people aren't going to be attracted. Unless you're a shop assistant, hairdresser or aged care nurse the variety isn't there either.
What about tradesmen? These favour outer suburbs, typically near growth corridors where there's lots of new building. There's some growth and new building on the peninsula but it's not a major growth corridor like suburbs west north and south-east of the CBD.
What about the much talked-about seachange types who're downshifting? Yes, RW could be suitable and affordable, provided the changed work patterns don't include daily 70km+ commutes (a work regime of working locally or from home with perhaps only 2 CBD days per week might be OK).
but bear in mind that many such people would be bayside/eastern suburbs professionals who'd want a more uppity area than Rosebud West to be with like people. As money is not short, I doubt they'd be reticent about buying in a better area such as Mornington or Mt Eliza.
Nevertheless people said the same about Mandurah as they did about Rosebud and there are many similarities. But that didn't stop Mandurah appreciating. However Mandurah will soon be extremely accessible for CBD commuters, while the trip from Rosebud West will always be much longer, so there's a whole market that won't find Rosebud West attractive due to commuting.
Peter
Draw a 20km circle around Rosebud West and consider the number of jobs in the area. There's not many, so working people aren't going to be attracted. Unless you're a shop assistant, hairdresser or aged care nurse the variety isn't there either.
What about tradesmen? These favour outer suburbs, typically near growth corridors where there's lots of new building. There's some growth and new building on the peninsula but it's not a major growth corridor like suburbs west north and south-east of the CBD.
What about the much talked-about seachange types who're downshifting? Yes, RW could be suitable and affordable, provided the changed work patterns don't include daily 70km+ commutes (a work regime of working locally or from home with perhaps only 2 CBD days per week might be OK).
but bear in mind that many such people would be bayside/eastern suburbs professionals who'd want a more uppity area than Rosebud West to be with like people. As money is not short, I doubt they'd be reticent about buying in a better area such as Mornington or Mt Eliza.
Nevertheless people said the same about Mandurah as they did about Rosebud and there are many similarities. But that didn't stop Mandurah appreciating. However Mandurah will soon be extremely accessible for CBD commuters, while the trip from Rosebud West will always be much longer, so there's a whole market that won't find Rosebud West attractive due to commuting.
Peter
To find another Mandurah, ah, thats what dreams are made of.
What is the comute time from Rosebud west?
cheers yadreamin
By public transport (train to Frankston (60 min approx) then the limited bus service to the Peninsula) would make it close to 2 hours. Mandurah is nearly twice the distance from Perth as Frankston but due to fewer stations the train trip will still be shorter there.
Driving - possibly 90 min with big variations depending on time of day.
That is to the CBD. However there'd be many south-eastern suburbs within 60 minutes drive. For people with (say) a light-industrial job in Carrum Downs or even Springvale Rd it may be more convenient, but still not exactly close.
If you were an unemployed beachgoer wanting to share a cheap house with some mates, Rosebud would be a good pick. And you wouldn't be alone; Rosebud West has been identified as one of the five neediest areas in the state: http://www.theage.com.au/news/natio...o-help-the-poor/2007/02/25/1172338469211.html with extremely high unemployment
www.mornpen.vic.gov.au/.../Social Planning/Responsible Gaming StrategyIssues Paper 080107.pdf
It is striking that the same issues cropped up in Kwinana/Rockingham/Mandurah with these also having higher than Perth unemployment rates during the '80s and '90s, particularly for youth. However the WA places have had more rapid population growth, commercial and educational and transport improvements than Rosebud.
Also if you go past Rosebud you've only got the Bass Strait, whereas 2 hours past Mandurah is timber and wine country.
Peter
i went and had a look at these units for $450k yesturday.
They need to be pulled out asap.
http://www.realestate.com.au/cgi-bi...eader=&c=48983388&s=vic&snf=rbs&tm=1181556354
They need to be pulled out asap.
http://www.realestate.com.au/cgi-bi...eader=&c=48983388&s=vic&snf=rbs&tm=1181556354
I just bought my first IP outside Perth and after much research I chose Rosebud having seen people's obsession with near-water living here in the West. I think its a baby boomer magnet with plenty of shops, a hospital, golf courses, wineries and a real "holiday" feel. I recommended it to some friends in Perth who purchased 4 more properties in Rosebud / Rye - they obviously felt the same.
The town itself reminds me of Busselton, but its only 80ks from Melbourne (instead of 250km). It was a no brainer for me.
The town itself reminds me of Busselton, but its only 80ks from Melbourne (instead of 250km). It was a no brainer for me.
I really like that area, and spend a couple of weeks every year in Blairgowrie. I like Blairgowrie a lot because its on a thin strip of land so just about any property is close to both the surf beach and the bay beach. The shops next to the bay beach there are quite nice too, with more classy joints opening and the crummy ones closing down. It's also close to Sorrento which has nice (but crowded) shops and cafes.
IMHO if you have $400k plus then buy in Blairgowrie. $340k+ then buy in Rye. Less than that buy in Rosebud.
cheers.
Anything within walking distance to the beach will go up in the future.
The most growth is found in properties that (aside from the obvious proximity to amenities and with sound infrastructure) are close to parkland or sand!!!
And the more blue (water) or green (bushland) views you have from these properties, the greater the opportunity for big $$$ profit in years to come, not to mention the "here and now" gratification in being able to enjoy the tranquility living in these places!! 
