Thoughts on Spotswood/Newport?

[James_VIC]

Hi all,
I'm looking for my third IP and am seriously considering a new townhouse in the inner west suburbs in Melbourne.

I'm priced out of Williamstown, however, I'm thinking of buying something in Spotswood or Newport due to their proximity to the Melbourne CBD and Williamstown.

Looking to buy something attractive and new in the mid-high $500k range so I can claim maximum depreciation.

Any advice about these suburbs and which pockets to steer clear of?

Thanks,
James

 

[Jake Milne]

Spotswood over Newport. That little pocket near Donald Mclean Reserve is okay. Forrest St, for example. Try and stay away from the big development areas and the unsightly industrial side.

 

[Neptune]

Yeah I like Spotswood too. However being a smaller suburb than Newport there will be less choice. Freeway noise can be an issue and Williamstown road can get very busy at peak times.

 

[James_VIC]

Thanks for tuning in guys.

This doesn't look too bad at all, and is within said budget:

http://www.realestate.com.au/property-townhouse-vic-spotswood-115980835

Then there's this one, but only a two bedder (I prefer to invest in 3 bedders):

http://www.realestate.com.au/property-townhouse-vic-spotswood-116665299

This is in a good spot too, but a bit too pricey for me:

http://www.realestate.com.au/property-house-vic-spotswood-116918599

Not much available in Spotswood!

As for Newport, this is what I've been looking at closely:

http://www.realestate.com.au/property-house-vic-newport-116288619

 

[Jake Milne]

I'd say no to all of those unfortunately.

http://www.realestate.com.au/property-townhouse-vic-spotswood-115980835
This is South Kingsville... There are a lot of these newer town houses here and this one falls short of those that I've seen... mainly because it's facing an industrial yard.

http://www.realestate.com.au/property-townhouse-vic-spotswood-116665299
Hall Street is a no, it's on the wrong side of the tracks, right in the industrial area.

http://www.realestate.com.au/property-house-vic-newport-116288619
Blackshaws is a busy, mixed use road. This property will always be discounted by valuers due to it's location.

http://www.realestate.com.au/property-house-vic-spotswood-116918599
I like this one the most but it's directly opposite the train line and like the last property it'll suffer from low valuations. Would probably rent well due to it's location... if it was a single level dwelling I'd probably have a look at the numbers as it may benefit from the baby boomers' influx into villas.


Stock is limited in Spotswood... If you're committed to this then get friendly with the local agents so they eventually start showing you off market opportunities.

 

[James_VIC]

Thanks for the advice, Jake.
I'll keep looking!
Any other surrounding suburbs worth looking into for that budget?
My other IP in the inner west is right in Matthews Hill, Sunshine.

 

[mumbai]

Thanks for the advice, Jake.
I'll keep looking!
Any other surrounding suburbs worth looking into for that budget?
My other IP in the inner west is right in Matthews Hill, Sunshine.

I am currently looking at the sunshine west suburb. Any suggestions/recommendations/cautions?