St Kilda East

[The Trump]

Hi Guys

Anyone have any thought's on St Kilda East. I have been looking for a little while and think that the area is good value at the moment

So I am thinking of buying a 2bdrm unit through my super fund. It will be a long term investment dont know if I would live in it longer term but thought it would be worthwhile considering (ie. property through Super)

Thanks

 

[The Y-man]

Great area - own a 1 bedder across the road from StK E (i.e. in Praharan E).

The Y-man

 

[Aaron_C]

Certainly could be a good idea for a set and forget type of investment.

 

[Player]

Hi Guys

Anyone have any thought's on St Kilda East. I have been looking for a little while and think that the area is good value at the moment

So I am thinking of buying a 2bdrm unit through my super fund. It will be a long term investment dont know if I would live in it longer term but thought it would be worthwhile considering (ie. property through Super)

Thanks

You cannot live in it if the owner is the SMSF. Possibly in the event that you've retired and you take the unit as a tax free lump sum payment, then you may derive benefit.

As far as an investment area, I can't comment if the value is good or not at present, however there will always be demand for these types of assets from renters and buyers in that East St. Kilda.

 

[Jake Milne]

St Kilda East is a great area to be buying in at present.

The area is a little behind St Kilda but is seeing the same demographic shift and is rapidly moving towards a more trendy and desirable suburb.

One thing to note when buying an apartment in this area is to make sure you DON'T BUY ON THE GROUND FLOOR. In the St Kilda / East St Kilda area there are people from many walks of life so it's important to have a more secure, elevated apartment so you can still attract single females as tenants / future owners.

PM me with the address and I'll do some due diligence for you.

 

[7smurfs]

One thing to note when buying an apartment in this area is to make sure you DON'T BUY ON THE GROUND FLOOR. .

Agree on this point. I am also looking at purchasing IP#2 and have looked into this suburb and prahran as key potential areas.

Hopefully St Kilda/St Kilda East will go through gentrification similar to Richmond in the future !!

 

[west57]

I purchased PPOR in 2004 in St Kilda East for under $280k (2BR flat), was recently valued at $410k but similar properties in the area have sold for around $450,000.

Definitely a gentrifying area with trendy cafes with the slight grunge factor (as opposed to slickness factor of St Kilda and Prahran/Sth Yarra).

There are definitely a lot of apartment blocks in the area so try to buy something with a point of difference. As others have stated, there are areas to steer clear of - there are a number of alcohol rehab housing, rooming houses, etc in the area particulary along Alma Rd.

Houses are more sought after as there are fewer of them in comparison to apartments, but they're alot more expensive. It'll always be a good area to invest due to proximity to multiple forms of public transport, rental demand and located only 8km from CBD.

 

[buzzlightyear]

I would strongly recommend, close or easy walking distance to Balaclava train station or Brighton Road (near tram stops)

 

[Jake Milne]

there are a number of alcohol rehab housing, rooming houses, etc in the area particulary along Alma Rd.

Yes, with this said though there are some great properties on Alma Road. Stay away from public housing near Landowne Road and Westbury Street.

Also Alma is a little heavy on traffic but isn't dual carriage (in most parts) or tram line so it's not bad.

As buzz said close to the Balaclava area is a plus...

 

[starter]

One thing to note when buying an apartment in this area is to make sure you DON'T BUY ON THE GROUND FLOOR. In the St Kilda / East St Kilda area there are people from many walks of life so it's important to have a more secure, elevated apartment so you can still attract single females as tenants / future owners.

Don't agree with this at all. I bought a 2 bedder ground floor apartment in the Prahran pocket that is just across Dandenong rd. No issue renting it out at all and CG on it has been good. I found that while you lose some privacy, and that may put some renters off, you also gain other renters who don't want to or can't walk up stairs.

 

[Dave_R]

Continuing the theme on what others have said, St Kilda East I think presents as a great area for investment and for future CG. While I think, however, that it would have been much better purchasing say around 12-18 months ago when prices started rising, there are still some great deals to be had when you think about it's proximity to St Kilda Beach and the city.

 

[Jake Milne]

Near Prahran isn't a problem... it's prahran.

The problem is on the other side, where it's more grungy

 

[The Trump]

Thanks for all the replies most appreciated.

How about in between these boundaries Balaclava Road, Orrong Road, Hothmam Street & Glen Eira Road

Thanks

 

[matto_]

got an IP there. 2 bed unit.

lots of tenants and have seen some good CG. The yields would not suffice to make it Cashflow positive or near to it.

 

[Jake Milne]

Yep great area!

 

[Aaron_C]

Decent area but for the Housing Commission flats.

 

[simo74]

Hi Guys

Anyone have any thought's on St Kilda East. I have been looking for a little while and think that the area is good value at the moment

So I am thinking of buying a 2bdrm unit through my super fund. It will be a long term investment dont know if I would live in it longer term but thought it would be worthwhile considering (ie. property through Super)

Thanks

Its a great area. I own a home on Hotham Street which i will be demolishing in the future to build new apartments. I would recommend around the Ripponlea area near the train station. In my opinion its a much better area then the ugly apartment blocks that dominate further north in St Kilda East. Also there are a number of new cafes opening in Ripponlea. The area is positioned for good growth in the future.