Thoughts on Essendon Vic

[smule]

After missing out on a property in Brunswick on the weekend I have decided to expand my scope and budget slightly.

I have come across literally the worst house in a nice street sitting on a small block of land It does however fit my needs and budget in terms of size and value.

What do people that either live or invest there think of the area, im talking the area around Mount Alexander Road and Keilor Rd (not Woodland Rd area

Any thoughts. thx

 

[Belu]

Hi Smule.

I went to essendon grammar, live in east keilor which is next to essendon to the west and my better half lives in essendon.

It really is a suburb of pockets. The area I think you are talking about would be an "alright" area - good for familes etc but not the blue chip part of the suburb. The blue chip part is really between mount alexander road and pascoe vale road - that strip which runs into strathmore on one end and moonee ponds on the other.

I really like essendon and either it or moonee ponds will be the area that I settle down in.

The prices vary a lot because of the various bubbles. My recommendation for essendon - if you are looking to make money - would be one of two things:

- buy a run-down period home. totally do it up and if you can add some more room. the old houses are generally 3 bed with 1 living area, a dining and small kitchen. You need a bigger kitchen for the target market that want those houses and two living areas so will most likely need to extend if it is a true unrenovated period house.

or

- buy a crappy 1950-1960's house on a good sized block and either tear it down and build units or build some out the back depending on size and location of existing house

The reason for the 2nd option is Essendon is a good suburb with good transport links. people will always pay for the name and the location out here so maximise that across a higher number of properties!

If you have any specific questions i will try to help.

Cheers

Ben

 

[Patosan]

I'm from Deakin St not too far from there and have IP in Roberts St quite near where you are looking. You won't do wrong anywhere around there. It's really up to your numbers with that particular house and in fact what do you want to do with it ... live in, rebuild or rent out as is.

 

[smule]

Thx Ben, I'm an Old Ivanhoe boy, we used to play footy against you guys (PEGS)

The house I'm looking at is quite small, land size is around 30*110, so not to much scope to play around and develop

Patosan - The house is in Spencer St, plan is to live it for now and renovate to make it comfortable in a couple of years or so.

 

[dsinv]

Mate I live in Stratmore and have an IP in Essendon close to your target area. The shops, the people the schools are fantastic. You don't need to go far for anything you may need.

Don't hesitate buy buy buy

 

[schmick]

Guys, just reviving an old thread...

Any further comments on Essendon, in particular, the area around Hoffmans Road / Keilor Road and Buckley Park?

What's the tram/car commute like into the CBD? Lifestyle in and around the area, etc?

Not being familiar with the area, any further additional comments appreciated.

 

[super_sam]

The blue chip part is really between mount alexander road and pascoe vale road - that strip which runs into strathmore on one end and moonee ponds on the other.

Not sure I agree with this. Houses in Mar Lodge (McCracken to Cooper - Buckley to Keilor) attract a much higher premium than those elsewhere. Land value is $1m+ in the estate

As for the area, what's not to like? Blue chip without the snobbiness of suburbs on the "other" side of the Yarra Not sure why you would discount the Woodland St area though? There's some beautiful houses and nice parks there

 

[super_sam]

Just a few extra comments
The area around Hoffmans Rd puts you near the Niddrie shops. There's some great restaurants there.
If this is for a PPOR and you have children of primary school age, dont assume you can get them into Essendon North PS even though it's a public school. They have issues with class numbers but it's easy to see why as it's a fantastic public school
As I said in my previous post, Mar Lodge is the most expensive pocket (in my opinion) but also gets the most plane noise. The pocket you're talking about borders Mar Lodge so would get the noise too

Cant help with the commute sorry as I work in Essendon also

 

[smule]

After much hunting in the Essendon area ( I was looking at the lower price brackets 550+ so properties where on a shortage) I ended up purchasing in a neighbouring suburb, Pascoe Vale South.
The 12 months of pondering what and where to buy ended up costing me an extra 50 grand or so as I was noticing a markable increase in price through both suburbs.
However In my opinion I still got a lot more house for my money and the suburb still has all the ammenities and proximities of Essendon

 

[Pure Yobbo]

Hi Guys,

Just wondering what the unit market is like in the Essendon area? From the reasearch i have done it looks like there isn't many units around the area?

Thanks in advance.