Valley Lake - Keilor East

[Jamesdi]

Hey All,

Just wanted to get your thoughts on the estate in Keilor East called Valley Lake. I can't find much on the forum about it and there's limited information on the web.

I have checked it out though and it is very well presented and seems to have future potential as a growth area.
Has anyone had any experience in the area? Looked into it as well?

I'm currently looking into a house and land package offered there which is 630k, but it is only a townhouse. Also the option of a 575k apartment is available. Initially I want the property as an investment and then have it as a potential PPOR in years to come.

Would this area be recommended?
Do these prices seem inflated or is that what I should be expecting for that area?

Thanks in advance

 

[Melbournian]

would invest based on ur objectives.

i wouldn't go too far out to keilor east.

 

[Jamesdi]

Thanks Melbournian, I'm just unsure as it is a new estate and lacks the accessibility of other areas.
Does anyone else have an opinion on the area?

Thanks

 

[cimbom]

I'm stunned that they've got an apartment for sale for 600k. You can live in an area which is much more accessible with far better infrastructure if you're happy to pay that much for an apartment

 

[willfong]

We had a look there a few years ago when they were starting to build the estate. Decided against it due to the lack of public transport and decided to go a couple of suburbs closer to the CBD instead. 630k for a townhouse (even a brand new one) in keilor east is too steep in my opinion.

 

[Jaggannath]

I'm stunned that they've got an apartment for sale for 600k. You can live in an area which is much more accessible with far better infrastructure if you're happy to pay that much for an apartment

Too right, the transport infrastructure in that area does not justify the asking price in my opinion. You'd be better off looking closer to a rail line.

 

[Fifth]

575k for an apartment in Keilor East? That's crazy. You can go inner-city for that price.

 

[Aaron_C]

575k for an apartment in Keilor East? That's crazy. You can go inner-city for that price.

Wow. House prices are crazy after all if that's the case....

But who am I kidding - people paid $700k for a 2 bedroom apartment in Glen Waverley....

 

[Jamesdi]

Thanks all for your thoughts...
I have had time to think about the area over the Christmas break - Based on this and all your comments I have realised that it is in fact over priced and not worth pursuing in my current situation.
I guess the presentation had me and being my first step into properties my interest wasn't based on overall practicality.

Will start from scratch to try and find something which better suits my buying criteria, thanks again

 

[Melbournian]

575k for an apartment in Keilor East? That's crazy. You can go inner-city for that price.

575K for an apartment in keilor east? there must be some gold or oil rig below to demand such a price. u got easily get 400-550K apts for that price range in inner city.