Western side of Melbourne

[lohon]

Hey guys,

I am looking for PPOR in the western Side of Melbourne and planning to rent it out after a few years!

Can anyone kindly provide me some recommendation on the suburb below?

Budget $450k

Maidstone,West footscray, Albion, braybrook, maribyrnong and Caroline spring?

Thanks in advance!

 

[Bigtone]

Hey guys,

I am looking for PPOR in the western Side of Melbourne and planning to rent it out after a few years!

Can anyone kindly provide me some recommendation on the suburb below?

Budget $450k

Maidstone,West footscray, Albion, braybrook, maribyrnong and Caroline spring?

Thanks in advance!

not caroline springs

 

[BFT]

not caroline springs

Care to elaborate?

 

[Deltaberry]

Why not? Lots of trees, serene, nice lake and cheap.

 

[lohon]

Hi big tone,

I have been caroline spring, the area and houses are nice but public transport is a pain over there!

 

[zed_kid]

i think maribyrnong would be alright, there are some period homes there (as far as i know) close to the races so when you get para just walk home

 

[RightValue]

Albion is I believe a very much under rated suburb. It has fallen quite a bit since the downturn. Close to the ring road, has a zone one train station and well within your budget.

However capital growth has been less than stellar compared to places like Footscray West and Maidstone. One day it may be appreciated for what it offers

I would avoid Braybrook unless you are lookling on the boundary of Sunshine, poor public transport.

As for Caroline Springs. I would live there (I have a young family) IF it had a train station. Lots of amenity for families, Delfin do really nice communities. The busses suck.

The west of Melbourne has pretty poor public transport infrastructure and the freeway clogs up lot.

Maidstone is ok, especially the bit near Gordon road with a tram to Footscray and close to Highpoint. But there are no freeways nearby. It offers decent value at times

Maribyrnong has 4 distinct and different areas. The old part near Gordons and Rosamond road bordering Maidstone. The new Edgewater Estate on the baks of the river with some $1m plus properties. The old mititary bit developed about 15 years ago which borders the gully/river and the explosives factory. Then there is the older bit to the north of Maribyrnong road close to the river opposite Aberfeldie. This is near a tram line and just across the river from Ascot Vale/Moonee Ponds.

Unless you want an apartment Maribyrnong is out of your budget.

West Footscray has two distinct parts separated by the rail line. The South part is cheaper and has some decent sized blocks for a reasonable price and is within your price range.

Footscray West is gentrifying and is close to both the city and the train, but lacks the freeway.

cheers

RightValue

 

[lohon]

Hi RightValue,

Thanks for your detailed recommendation! I went to look around in caroline spring and love the place but worried I can't rent the place out in a year or 2 as the rental market is very competitive.

As for edge water, the last time I had a look at 2 rooms apartment and it cost more than 500k. Way over the budget! I intend to convert the property into an ip after a year or 2, so capital growth would be my main focus!

I might narrow the selection down to west footscray, Albion and Maidstone!

Thanks again for your insight!

 

[RightValue]

A quick question for you.

Why have you excluded Sunshine in your list of search suburbs?

You have mentioned Braybrook and Albion. Sunshine is right in the middle.

It is in your price range, is only 12 radial kilometres from the CBD (13.5km via train) not too far from the ring road and has a train station. It has a decent sized central shopping area a train station, a bus hub and a branch of Victoria University and the Golden Leaf resturant is very good and good value.

It is in your price range and is slowly gentrifying. There are many nice period homes (Cal bungalows) that could be renovated.

There is even a premium area, Mathews Hill, which is probably out of your price range but the rest of the suburb is within it. It too has been smacked price wise since the downturn.

I am not promoting it, just curious why you left it out when it sits right between two of your mentioned suburbs and is in your price range.

 

[uptighkid]

Hi there,

My PPOR is in Albion. We moved there in 2011. We were attracted to the area because of the price, access to public transport and because most amenities are in walking distance.

I don't drive so being close to everything is important to me.

The properties are mostly weatherboard houses on big sites (average would be 500-600 sqm). Due to the fact Albion was designed according to the Garden City philosophy the streetscape and lay out of the suburb is very pleasing. There is plenty of green space, a few ovals and a central park/sports centre.

Albion has all the same problems as the rest of the inner west but it does tend to be quieter (no pub, TAB, Centerlink). It was for this reason we choose Albion over Sunshine.

I know I am biased, but I think Albion is very underrated. All the structure is in place for it to be a great suburb (again). It so close to the city, yet you can have a big place for around 400-450k.

In regard to the other suburbs you mention, I would consider them all except for Caroline Springs because of lack of infrastructure and no constraint on supply.

Hope this helps.

 

[Bigtone]

i think you are getting some very good feedback here from a valuer who knows the area well and also from a resident of Albion. Comments seem spot on to me. It would be wise to listen to those two.

As I said earlier I would be avoiding C.Springs for the reasons mentioned

 

[lohon]

Thank you guys for all your info!

I have had a look at few houses in Albion and west footscray! Most houses need some renovation as they are kinda old.

Uptighkid, would you mind to share how much you bought your PPOR? Would like to get some info on prices to compare!

Cheers

 

[MC1]

Caroline Springs is fine. I have lived in the area a little while and really enjoy it. It has a great set up and feel and great for familes as mentioned.
If you are one of the people that need to join the heard and travel to the city at 9am and then back at 5pm, yes it would be a nightmare.
Getting to the city at any other time of the day is a breeze. Straight on the bypass and 100 kmh all the way.
There are a lot of different pockets and price ranges in the area, some are not cheap.
Im sure deltaberry was hving a crack, but most of his comments were spot on.
A train station would complete the suburb

 

[cimbom]

I would advise against buying in Caroline Springs or any of the other new outer suburbs. Sure, the houses are "nice" but you'll pay for that house through no public transport, lack of infrastructure, no local employment and very long commute times. I would also expect many of the houses in these areas to fall in value soon and especially once petrol prices start to increase even more. They are unsustainable IMO.

 

[uptighkid]

Mate, I'd prefer not to reveal the price we paid.

I can assure a budget of 400-450 means you buy most homes in Albion (there are only a few that go for over 500k at the moment).

For examples..
http://www.domain.com.au/Property/For-Sale/House/VIC/Albion/?adid=2009767021

http://www.domain.com.au/Property/For-Sale/House/VIC/Albion/?adid=2009045870


I would avoid houses on Ridley street. Due to rail works that has recently been turned into a cul de sac and a lot of people are moving out of the nicer houses as a result.

I'd also suggest you visit the area in person.

 

[MeowMeowCat]

Lohon,

I am also looking for a PPOR and have a budget of $450k too. Looking to stay for a few years and convert to IP.

I am looking at the same areas but spend most time looking at new suburbs like Point Cook, Tarniet, Williams Landing, etc. In these areas, I get a newer house (not necessarily bigger plot of land). But I am very concern about the growth potential in these areas.

With this strategy in mind (PPOR first then IP), how would you package your loan?

 

[Aaron_C]

Not sure what question you are asking MeowMeowCat re packaging of the loan? The loan is one (important) thing but I would worry about what you're buying first. Make sure the investment stacks up.

 

[Jake Milne]

I'd vote Albion.

 

[matto_]

we have done alright in Seddon.

 

[lohon]

Hi MeowMeowCat,

The loan will be the same, my strategy is to get a property first then I will have options in future to rent or sell the place.

I have seen Williams Landing today, is about 20 mins to city via princess highway and 5 - 10 mins to laverton or the new train station, but land settlement is next year may/june. I would like to have a place ready to move in straight.

Jake Milne,

Mind to share why would you vote for albion ? I have had a look at some of the houses. Price range fits out budget, but the houses is kinda old. It may need some renovation.