Undervalued Suburbs in Melbourne

What do you think are the undervalued suburbs in Melbourne?

What factors do you consider or signs that you see that help you arrive at the conclusion that a particular suburb is undervalued?

Also, what do you think are the overvalued suburbs?
 
What do you think are the undervalued suburbs in Melbourne?

I am always fascinated by such questions.

The first thing that crosses my mind is "Why would anyone tell you?"
The second is - "Why would you believe them?"


Fair enough, the next question is "How do you..." - very valid, and I'm sure many will contribute.

By the way, I currently look for properties that haven't sold in ages..... just stagnates on RE.com..... and comes up with a "price reduced!" or "must be sold" (and doesn't...)


Cheers,

The Y-man
 
A seasoned property investor like you shouldn't be asking questions like that..

you and Deewha seem to have chip on your shoulders.. calm down and chill...

every thread you post in with your rude remarks degenerates into a slanging match and erodes what could be good discussion.
 
Some threads do get heated. But most threads I post in remain as good discussions. Don't be so sensitive, newcomer. It's only a forum to bounce ideas. If you take offense from most of my comments, use the ignore button.

Edit: may I add, though deehwa is spicy at times, he makes some very valid points. On the other hand haven't seen much assessments about properties from you. Time to lift the game, young sailor.
 
A seasoned property investor like you shouldn't be asking questions like that.
I had just purchased my first IP one month ago so I am a seasoned investor?

But if you must know, Altona.
I don't know whether you mean it or you are being sarcastic.

When I bought my PPOR in Altona 2 years ago, the mortgage broker told me that she thinks Altona is undervalued. The house price in Altona had fallen quite substantially during the GFC so it is now lagging other suburbs. A 3 BR brick veneer house on 600 square metres of land and 5 minutes walk to the train station was sold for 440K in Dec 09. You won't be able to get much for 440K in most parts of Melbourne.
 
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i reckon north melbourne.

Been reading the Australian Property INvestor magazine for feb. Lots of infrastructure work - 2 new hospitals coming up. I'm starting to research more on that suburb.
 
Am trying to locate some links but can't find them.

I'm trying to guess the location too... the most effective place would be directly in between Melbourne Uni and the Royal Melbourne Hospital. :) The real place remains to be seen.

...

Thanks Forumite. Wow, that location is central to Vic Markets, the Hospitals and the Uni. Woot.
 
On North melbourne and the prospects due to the new station at UniMelb.

I actually think that new station will hurt North Melb prices. The best aspect of north melb is that most of it is walking distance to the big hospitals and Unimelb.

Those key locations being right on top a station means that anywhere on the train line gets much better access to them than previous (the trams of Swanston and Elizabeth aren't quick).
 
I actually think that new station will hurt North Melb prices.

I don't think so. Proximity to a train station, particularly an underground one, will be an advantage. Now residents need to take a tram to the CBD. With the new train line, they can bypass the tram and take the much faster train.

Quite a number of tram passengers on Elizabeth and Swanston Streets are passengers commuting between Melbourne University/Hospitals and Melbourne Central Station/CBD. The new train line and station will have the effect of removing a big chunk of passenger volume on these tram lines.

The new Peter MacCallum Cancer Centre will open in 2015. Not sure when will the Parkville station be constructed.

There are many new apartments coming up on Wreckyn St. It makes sense to have high population density near train stations.
 
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