St Albans

Hi all,
I am a newbie. I am interested in investing in a property and just started having a look at a few places. One suburb I am looking at is St Albans. I see houses are cheap and don't really know the reason. I see some advantages there though such as train station, university, and watergardens close by.

Any advice or suggestions?
 
I think previous posters have hit the nail on the head. From experience bad drug problems(junkies). But as most suburbs it may eventually change. Dont hold your breath!
 
I used to work in St Albans. After work I would lock all the doors and get the hell out of there like a rocket. Only thing going for it is the big blocks of land.
 
I have lived in St Albans my whole life, and I cannot wait to move! The area is seriously full of scum like the above posts lots of junkies, thefts, bashing ect. Luckily for me I will be moving out of home soon... my 2 cents.
 
the houses are relatively cheap compared to other parts of Melbourne however it does come with its share of negatives. There was some growth a few years ago in the area and it has since corrected.

Both the growth and correction have been seen in a fair amount of suburbs in Melbourne so its not specific to this area however I haven't looked at %'s.

Like BobbyGee said; it may eventually change like many of it's surrounding suburbs however the stigma and a lesser extent of issues have remained.
 
Thanks,
I was thinking about a few places including those.

I am not locked into just that area, but it is certainly a beginning for some research and not too far from where I am.
 
I love St Albans, I use to live there for a couple years. I still love it with its good and bads.

- Around St Albans Alfreida St -> Good Land sizes that you can sub divide.
but apparently some bikie gang has moved in at the residential end of that street (massive group) - stay clear.

- Around Main Road West and Main Road East, Good big block opportunities to divide up and create townhouses. Just make sure you screen your potential renters properly!

-
Furlong Rd & Ginifer station Area -> Ok area, just make sure you got roller doors and windows, security system, gate/fenced - preferrably a dog. and your ok.

Around Browns Ave - Off of Furlong rd -> Where I use to live - LOVE IT, not as bad as other St Albans Areas, quiet, still have good security and Rollers.

Avoid Denton Ave Area.

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St Albans Rd & Furlong Rd, Mulhall rd & Main Rd section, Ok for growth. just look for big blocks you can sub divide. - as this area is clear from the Ginifer Station Train Road Problem.

I personally wouldnt purchase for investment. price wont move for a long time,

It was around 200K average, around 2002 up to Kevin Rudd got into Parliament, then it shot right up to 500K (alfrieda st area) then deflated back down under 400K, even 50% in certain areas.

- Id look for weatherboards houses and big land. If you insist on purchasing in St Albans though.
 
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