What areas in Melbourne are good value at the moment?
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don't think any "areas" are good value in melb atm.
there are hoverer some good value properties going at the moment in lots of suburbs
june will be a good time to buy under $400k as many FHB will wait for stamp duty cut to take effect in july.
if u do enough research u will find some vendors who need to sell asap and bargains can be had, personally i think you need to buy 7-10% below market value in this market to in effect buy the first 12-18 months growth as there is unlikely to be much if any in that time.
cheers
BT
I would be focusing on areas around middle-outer east such as Nunawading, Forest Hill, possibly Mitcham.
You can still get 600-800sqm blocks of land with an old weatherboard for 550-600k which is well under the $1000/sqm mark that was being paid early last year.
Once you head further in (eg: Blackburn) you will be lucky to find decent properties under 750-800 although there are some deals around currently.
You can still get 600-800sqm blocks of land with an old weatherboard for 550-600k which is well under the $1000/sqm mark that was being paid early last year.
Once you head further in (eg: Blackburn) you will be lucky to find decent properties under 750-800 although there are some deals around currently.
This, sir, is a slur on Frankston that can not...nay..shall not be allowed to stand!
*removes glove*
Pistols..... at dawn..
*slap*
....outside the op shop on Keys St!
All of them.
Long term I still believe the inner West is undervalued. Yarraville, Seddon, Footscray & West, Ascot Vale
What area do you live in Y-Man?
I personally think Yarraville is way overrated.
I drove through there again yesterday just to check anything had changed in 1-2 years, but YUCK for what you get
just my opinion
I think you can find bargains in most suburbs in melbourne. The softness in property prices is pretty much across the board. Dont ignore inner-city pads -its a lot easier to now get into blue chip inner city areas.
Near these...
http://www.realestate.com.au/property-house-vic-doncaster+east-107385820
http://www.realestate.com.au/property-house-vic-doncaster+east-107374922
http://www.realestate.com.au/property-house-vic-doncaster+east-107110302
http://www.realestate.com.au/property-house-vic-donvale-107355174
The Y-man
i would go for inner city (south melbourne, melbourne, south yarra, southbank, west melbourne) - older large units and try to manufacture growth.
Prices are down and you can easily pick the right one to renovate to get that 100K capital growth in less than 1 year.
Prices are down and you can easily pick the right one to renovate to get that 100K capital growth in less than 1 year.
really where is that?
just saw someone else post the same question.
Interesting with Doncaster East, i think it could have been due to the influx of overseas Chinese migrants buying into this area.
With immigration levels down, prices have to meet 'local' expectations rather than passing the chair to other overseas migrants.
We must be driving down different streets PM
There are some stunning period homes in the area and its close to the city. Great little village atmosphere without the awful traffic of just about every other inner city suburb, very good restaurants/cafes/bars. Really only lack of schooling might hold it back but then again that is the West and its not far to the inner east by train for schooling.
Each to their own I guess, there is more than one way to skin a cat.
We must be driving down different streets PM
There are some stunning period homes in the area and its close to the city. Great little village atmosphere without the awful traffic of just about every other inner city suburb, very good restaurants/cafes/bars. Really only lack of schooling might hold it back but then again that is the West and its not far to the inner east by train for schooling.
Each to their own I guess, there is more than one way to skin a cat.
I have many friends that are teachers and none of them want to teach in the West, the stigma is alive and well.
The demographics of the inner west are certainly changing, particularly in the last 5-7 years as it is quite an affordable area for young professionals to buy in.
Yarraville's neighbour Seddon, is better proposition as it is a smaller pocket (more scarcity value on the land) and has better streetscapes with consistent period housing - eg, Seddon St, Tennyson St, Alfred St, Hotham St, Bayview Rd. Also, the VU campus is working distance from Seddon.
Unfortunately for you PM, sustainable change takes more than 1 or 2 years.
Yarraville's neighbour Seddon, is better proposition as it is a smaller pocket (more scarcity value on the land) and has better streetscapes with consistent period housing - eg, Seddon St, Tennyson St, Alfred St, Hotham St, Bayview Rd. Also, the VU campus is working distance from Seddon.
Unfortunately for you PM, sustainable change takes more than 1 or 2 years.
seddon is pulling $700k odd for sardine shacks, I dont think that is undervalued
Agreed, Nunawading is seeing plenty of attention at the moment due to its great amenities and still relatively affordable prices.
This. Blue chip has come off a fair bit since the early 2010 highs, now is the time to do deals with vendors. You still need 600k+ though and I’m talking apartments here. Add Toorak and Prahran to Melbournian’s list. Also I’m noticing a lot of buzz around Elsternwick, could be a mover in the next couple years.
500K+ would be sufficient for apartments.
