Somersoft's pick, your hot-spots
- Thread starter want2bewealthy
- Start date
I must admit I quite deliberately posted the suburbs knowing full well it was going to be a "strange" list - and that it should elicit a post like yours. It really is to illustrate why some (experienced) people are not posting on this thread - as the assumptions being made are too widely varied.
More specifically:
I agree the growth may have happened. What I did not articulate in my post perhaps is that I think mortgage stress is about to happen in some of these areas (as it may too in some of the suburbs you mentioned) resulting in price drops - i.e. the elusive "bargain property".
I also believe that the land component may be an interesting factor going into the next decade or two - a space for a decent chook run and vege plot may be something highly valued.... who knows?
Finally...there may be value in distance from CBD if we enter a period of serious social unrest due to dire economic circumstances....
Cheers,
The Y-man
I was speaking to a friend of mine, who knows nothing about.....well everything.....nice guy but always has his opinion for everything... and he said that (mind you he doesn't invest or have an IP) he heard somewhere that templestowe had the highest amount of mortgage stress in Vic, at the time I thought, the moron is crapping on about something he knows nothing about and has got it completely wrong, and it got me thinking, maybe there is some truth in that (by pure coicidence of course), most of the properteis in templestowe for houses are from $500k - $1mill, most of the people living there are not high flying corporate but mostly late 30s - 50s people well paid people. so it is entirely possible that mortgage stress may be a major factor in the next 3 years or so.....who knows!
as for chook farms and being a fringe CBD suburub.... possibly.. however, for an IP under $500k, I would stay away, if you are looking for the bargain $500-$1 mill house, maybe now is the time to consider.....
correct me if I m wrong but the suburbs that have dropped the most in the last 12 months or 1 quarter are the premium ones, South Yarra, Toorak, Albert Park, Ellwood, etc. etc. and then the next ones are the Templestowe, Camerbweall, Hawthrons etc. etc.
Interesting you should say that. I have lived in Templestowe most my life and I haven't seen any mortgage stress yet. People are still going to the cafes and resturants in the area. As for chooks on the acerage, the best acerages are on Serpells rd, Church st, Sarah court and they will cost more than a mill. Somehow for those 3 mill homes I don't see chooks being in the mix.
As for trains, in my honest opinion I wouldn't like a line running through there. Urgh very few areas with train lines are considerd classy and I think it would cheapen the area.
There is no bad crime the only 2 incidents I can remember are the Carmen Chan kidnapping and Gangitanos murder.
No burn outs, no graffitti and as my colleage said to me the parks in my area are some of the best in the state.
Personally I will be looking at Balwyn and Bulleen.
Balwyn has trams and busses, Balwyn high school zone one of the best in the state.
I'm building in Bulleen at the moment and often drive there in the mornings to catch the bus into work. During peak hour there is a bus every five minutes, travels on the freeway and hoddle express lane and takes me 30 mins to get to my office in Smith st Fitzroy from door to door.
I agree. That's the other thing this thread did not specify is hotspot for IP or PPOR....
Cheers,
The Y-man
I certainly don't expect to see a torrent of houses for sale in Templestowe - many I suspect are owned outright. I also agree that sticking a big chook run in the backyard of a $3mill home on Reid St or Sarah Crt would NOT be the first choice....
Having said that.... acreage on Serpells advertised $1.4+ with a backyard that looks suitable http://www.realestate.com.au/cgi-bi...t=&header=&cc=&c=75990929&s=vic&tm=1242428746
Cheers,
The Y-man
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I read an article a few months back (i can't remember where i saw it), and it went through a list of the towns/suburbs which have the highest levels of fully paid off homes.
Topping the list were a whole bunch of small towns i'd never heard of before, but the suburbs topping the melbourne area on the list were were all in the manningham area, being bulleen, doncaster, east doncaster etc. Can't recall exactly, but i think templestowe was up there too.
Topping the list were a whole bunch of small towns i'd never heard of before, but the suburbs topping the melbourne area on the list were were all in the manningham area, being bulleen, doncaster, east doncaster etc. Can't recall exactly, but i think templestowe was up there too.
hmmmm....as i previously mentioned, I have no idea about the extent of mortgages in this area....... if there is an official document confirming that, then I believe it!
The main issue I have with Webster (and there are several nice houses up for sale in the street), Monckton, and the top end of Newmans roads is the big power lines.....
Cheers,
The Y-man
Inverloch...
Build a house there on a block worth 140k and it will be worth 100k more than it cost you to....
Not many blocks left...as soon as they're being listed they are being snapped up by local builders doing house and land packages and making a killing on each one..
Also the Desal Plant is being built nearby and the consortiums are saying they want 350-400 house to rent starting at $400 a week.
Build a house there on a block worth 140k and it will be worth 100k more than it cost you to....
Not many blocks left...as soon as they're being listed they are being snapped up by local builders doing house and land packages and making a killing on each one..
Also the Desal Plant is being built nearby and the consortiums are saying they want 350-400 house to rent starting at $400 a week.
Just to change the direction.......
MEADOWBANK in Sydney's Northern Suburbs. The only suburb with train, ferry and bus services that isn't Circular Quay to my knowledge. Also just had the train line open to get to Chatswood, new shopping centre including an Aldi and also Top Ryde shopping centre opening soon. 20 minute drive the the CBD & no tolls. 2 bedroom unit around $350 000 & 3 bedroom house with land $650 000. The only problems is that a lot of FHB's are attacking that area and surrounds such as West Ryde.
MEADOWBANK in Sydney's Northern Suburbs. The only suburb with train, ferry and bus services that isn't Circular Quay to my knowledge. Also just had the train line open to get to Chatswood, new shopping centre including an Aldi and also Top Ryde shopping centre opening soon. 20 minute drive the the CBD & no tolls. 2 bedroom unit around $350 000 & 3 bedroom house with land $650 000. The only problems is that a lot of FHB's are attacking that area and surrounds such as West Ryde.
I have a few acres on the moon if anyone is looking that far afield Seriously. I OWN them.
and yeah we looked at Meadowbank and West Ryde as well and that area is getting hammered by FHBs for sure... We ended up buying a 90square 2 BR unit in Ashfield , 5 minutes from the station with no train noise 17 minute train trip to the city !
Pretty happy with it so far !
Seriously. I OWN them.and yeah we looked at Meadowbank and West Ryde as well and that area is getting hammered by FHBs for sure... We ended up buying a 90square 2 BR unit in Ashfield , 5 minutes from the station with no train noise
17 minute train trip to the city !Pretty happy with it so far !
Good post, this is some of you guessed it Canberra, Braddon,ainslie, for central. belconnen/north side would be higgins,holt,scullin,
and the other would be Best bets, for wanniassa And, kambah these are buy value add, and rent and hold.
Craig, Gotta disagree with you on Braddon and Ainslie. They got 56.5% renters in those suburbs. That means over the half the people in those suburbs aren't taking care of their houses. That means longer term the suburb won't be looking good.
Now my ideas in the centre would be the Hackett and Downers. They got less than the canberra average of renters (26%), they got cheaper housing, but they are trying hard to be just as trendy as Dickson and Ainslie.
Southside, I'd be thinking Holder or Weston. They have low renter rates (can't be bothered lookign them at), ACTPLA will be releasing land in the next year or two from Holder north to Higgins (but it'll take 30 years to get to Higgins). They got a lot of eldery people in them getting ready to sell. I'm seeing rejuventaion there.
