Not really the best CG forecast for units in this area. Houses fare much better in the outer suburbs. There are better ways to spend $400,000 in Victoria.
I've had some experience with properties out here. There's a lot of old run down stock that's being gentrified so there's nothing unique about new villas. There's problems with crime and shoddy building practices. One of my old clients who bought a PPOR had his hot water boiler stolen...
Additionally I'm not a fan of this building either. The aspect is of fences, it's right near the ring road so it'll be very noisy, especially in wet weather. There are power pylons nearby which will be a headache for LMI. There's no floor plan included on the ad so it's hard to comment on that.
If you're buying in Glenroy, try and get closer to the shops. There are a few nice streets on the other side of Pascoe Vale Rd.
Agree with the above post.
I have lived in Glenroy/Oak Park for 18 years.
My parents lived on the Western side of Pascoe Vale Rd. These blocks (to the south) are all 950spm +.
Since I was 14 they have slowly been buying, knocking down and build town houses. Builders and developers have been smashing the area hard for the past 6 years.
IMO there is a glut in the market for selling townhouses and units in the area.
Take that as an opportunity or a risk, your choice.
In the good side (not hadfield) side out Pascoe vale road, all along chapman ave I believe it may be good entry level buying around $280K-$330K for a 2br unit (single story, 4-6 on the block).
Glenroy and Oak parks accessibility to the city is second to none.
I worked in Lygon St during my uni days and via main roads it would take 35 mins, or 15 mins via Citylink to CBD..
Glenroy has a decent shopping strip, hairdressers etc, but it has not really seen any significant changes over 15 years, traders coming and going.
Traffic at the boom gates on Glenroy Rd is horrific, they are planning to put it under ground and build a market on top in years to come, but it is rated one of the worst intersections in the state..
Hence why I stay on the Pascoe vale Rd side of the train tracks towards the city, it has the influence of Pascoe Vale and much quieter..
Access to ring road, tull fwy, dfo, Shopping Centres: Airport West, Broadmeadows, Northland, Highpoint
Airport is 8 mins away, train station is walking distance and take 25 mins to CBD.
A lot of diverse nationalities in the area, with increasing middle eastern and sub-continent (living in units) in the area.
It is not a bad place to invest, but im not too sure as to the future CG of units in the area, may be better spending a bit more and getting closer to CBD. Housing stock is a totally diff market in the area.
If anyone needs info on this area, or any surrounding subs please PM me and I will be more than happy to share my knowledge.
Greyghost.
