Top 3 suburbs in Melb?

[Giulio Taranto]

For those of us that tend to buy houses instead of units/appartments.


What are your 3 favourite Melbourne suburbs for investment and why?

 

[MelbEngineer]

Ok, I'll respond...

On a budget of say under 400K for a house I like:

Frankston - close to the beach, popular etc.

Chelsea - beachside again, and has an average house price of around 325K. Suburbs around it have average house prices of around 400K, ie Edithvale, Bonbeach.

Carrum - South of Bonbeach with an average house price of 318K. Same reason as above.

 

[Curious George]

Investment Property in Melbourne

Hi all

I am also looking for an IP in Melbourne. I am from WA and I am not familiar with the Melbourne market. Two areas that have been recommended by property brokers are Point Cook & Deer Park (with view to construct new house for full depreciation and hassle free renting).

Is this sound advice? Are these suburbs worth considering and, if so, what would be fair prices to pay?

Are there better options for $300K-$350K?

Regards

George

 

[Curious George]

Can anybody help?

Hi all

Just wondering if anybody can give advise on previous posting (Deer Park & Point Cook)?

CG

 

[MelbEngineer]

Hey, I think these sound like good options. Deer Park is quite a cheap suburb however, and in a lowish economic area. I would ask the person who recommended them what their reasons were. More research would be useful. Are they expecting high growth in this area?

 

[The Y-man]

Hi all

Just wondering if anybody can give advise on previous posting (Deer Park & Point Cook)?

CG

Here's a previous dicsussion if it is of any help....
http://www.somersoft.com/forums/showthread.php?t=25951&

Cheers,

The Y-man