Roxburgh Park
- Thread starter catlib01
- Start date
I lived there for about 5 years while it was in development stages and still visit the area at least twice a month. It is quite a neat area with a new train station that runs to the city in about 50 min ( I think ) , they have a reasonable size shopping centre with Broadmeadows being the closest main shopping complex. It is about 10 - 15 min from Tullamarine airport . The one thing I note is the large Turkish community . I believe it started in Meadow heights which is basically across the main road. As far as price goes , it is fully developed now with the next development area being Craighiburn. Someone in my family purchased in Roxbourgh park in 2006 for $170,000 house and land and just sold for over $400,000 with only minor improvements made to the property .
Hope this helps a little
Hope this helps a little
Melbourne
Wunderbar,
Yes, I'm looking for investment property, but do not rule out the possibility of moving to Melbourne in the near future.
Since you are in Melbourne, do you have any idea what sort of rental yield (2 bedroom units) properties in North Melbourne or Hawthorn can achieve?
What's your opinion on Footscray?
Do you invest in Victoria or in other states?
Catherine
Wunderbar,
Yes, I'm looking for investment property, but do not rule out the possibility of moving to Melbourne in the near future.
Since you are in Melbourne, do you have any idea what sort of rental yield (2 bedroom units) properties in North Melbourne or Hawthorn can achieve?
What's your opinion on Footscray?
Do you invest in Victoria or in other states?
Catherine
Cath,
I'm based in Melbourne and I only invest in Victoria. For an apartment in Hawthorn you could probably get ~4-5% yield, depending on location/building. North Melbourne will be similar, but be careful of North Melbourne because a lot of them are 'student only' apartments which are just horrible for investment, but they suck you in on the high yield of 8%.
I don't like Footscray, it's a bad place to be. You attract bad tenants and you will definitely not want to live there if/when you decide to come down to Melbourne. Others will try to persuade you otherwise but trust me on this one - don't buy west of Melbourne. The furthest you could go west of Melbourne is probably North Melbourne. Anything beyond that is not good
I'm based in Melbourne and I only invest in Victoria. For an apartment in Hawthorn you could probably get ~4-5% yield, depending on location/building. North Melbourne will be similar, but be careful of North Melbourne because a lot of them are 'student only' apartments which are just horrible for investment, but they suck you in on the high yield of 8%.
I don't like Footscray, it's a bad place to be. You attract bad tenants and you will definitely not want to live there if/when you decide to come down to Melbourne. Others will try to persuade you otherwise but trust me on this one - don't buy west of Melbourne. The furthest you could go west of Melbourne is probably North Melbourne. Anything beyond that is not good
Checkout 15/130 Rathmines road Hawthorn. Listed for months at $415,000
I had a look through in December and $411,000 would buy the property.
I didn't buy because the block doesn't have balconies and while the apartment is two bedroom there isn't plumbing or space for a washing machine and dryer.
BTW, the funny story with this apartment is the previous tenant was running a drug lab and the place blew up causing mega damage.
There is a dossier 5cm thick explaining several hundred thousand dollars of repairs as a result of the explosion so in a way it might be good for the next owner because the money has been spent.
One last point, I don't think 5% return on these apartments is realistic even with a $400,000 purchase price.
It started off as your average first homebuyer area. The houses look Ok too. But the ABS SIEFA numbers show a decline in incomes, education levels etc relative to other areas.
Roxburgh Park is now considered so unsafe that night buses won't go there.
http://ptv.vic.gov.au/news-and-even...e-to-rock-attacks-and-threats-to-bus-drivers/
In contrast other areas not known as the most salubrious of places (eg Footscray, Sunshine, Broadmeadows and Frankston) still have their night buses.
Roxburgh Park is now considered so unsafe that night buses won't go there.
http://ptv.vic.gov.au/news-and-even...e-to-rock-attacks-and-threats-to-bus-drivers/
In contrast other areas not known as the most salubrious of places (eg Footscray, Sunshine, Broadmeadows and Frankston) still have their night buses.
There is a newly built shopping complex in Roxburgh Park so it is convenient. Coles, woollies, aldi, and other grocery stores and restaurants in one place.
But it may have a negative impact on rental marker when Ford factory shut down in 2016.
But it may have a negative impact on rental marker when Ford factory shut down in 2016.
Supply and demand
Yes there is demand for the shiny new houses, but there's more supply
On another note has anyone noticed how people would rather buy a mansion in a newer outer suburb these days than a humble home in an established suburb?
I see a lot of people who spend over 600k in outer suburbs ( 30 - 45 km from CBD) jus because they don't want to live in an older home
Yes there is demand for the shiny new houses, but there's more supply
On another note has anyone noticed how people would rather buy a mansion in a newer outer suburb these days than a humble home in an established suburb?
I see a lot of people who spend over 600k in outer suburbs ( 30 - 45 km from CBD) jus because they don't want to live in an older home
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Strongy, I didnt suggest whether Roxburgh park is a good or bad place for IP. Do not quote me.
She started the thread because she is from interstate and wanted to know the area. " I can't believe someone started a thread like this on ss." is not helpful for her.
She started the thread because she is from interstate and wanted to know the area. " I can't believe someone started a thread like this on ss." is not helpful for her.
