Sandringham in Melbourne

[The Trump]

Hi guys

Hope you are all well.

Was wondering if anyone had any thoughts on investing in Sandringham- Melbourne.

I am looking to purchase a unit in the area and was seeking the forum's feedback in terms of its potential growth longer term and if its an area that has a strong rental demand.

Look forward to your feedback

Cheers

 

[tobe]

pretty much offf the radar I suggest. At the end of a dinky trainline, near the beach but no where near the amenity of st kilda elwood but with comparable prices. its not an off the plan unit is it?

 

[Bigtone]

pretty much offf the radar I suggest. At the end of a dinky trainline, near the beach but no where near the amenity of st kilda elwood but with comparable prices. its not an off the plan unit is it?

Sandy is a ripper spot for lifestyle and amendities.

Best train line in melb.

However rental returns are not strong and if it is off the plan in the shopping district then run.

 

[S.T]

2BR units seem to be doing OK

http://www.sqmresearch.com.au/graph_median_weeks.php?postcode=3191&t=1

Agree with Bigtone, its an awesome area. train station, beach, proximity to Southland, Pub, fantastic schools close by, and a hospital.

 

[The Trump]

Hi guys

Thanks for the positive feedback.

In terms of the potential purchase- no it wouldnt be off the plan but something established (ie. villa or townhouse)

I did look at Elwood & St Kilda however a bit to expensive for me so I thought that Sandringham might be better. Given that there appear to be more villa/townshouses available rather than a unit

Cheers

 

[zed_kid]

Sandy is tops mate, i dont think you can go wrong with a townhouse / villa there

 

[Aaron_C]

Sandringham is OK. Not prime beachside but hard to see it going wrong.

 

[normailson]

I attended an auction in Abbott Street a few hundred metres from the Sandy police station away from the beach around August last year. A small, unimproved 1970s - early 1980s two bedroom with parti walls each side sold for a couple grand below $500K.
It was close to beach, train station, shops (if you can call them that) but at that price you will not get the return on investment. Better to go highett, parkdale maybe mentone where the rent will go to help pay the interest bill.
I don't think that a tenant will pay top dollar for that place - that would have been a OO with aspirations.
Remember that at that point in time no one was talking about an upward swing. Would probably go for even more today.

 

[Jake Milne]

Big fan of Sandringham right now... Single level Villa Units near beach or shops are the only asset I'd be looking at though.

Purchase a good villa to benefit from the demand that's coming from the retiring, downsizing and sea changing baby boomer market.

To be honest though, if you could buy a decent 2 bedroom apartment in Elwood (mid $500's) I'd put my money on it to out perform Sandringham.

 

[lizzie]

and a hospital.

the one I was born in, infact ... great hospital