What is wrong with Kensington & Flemington, Melbourne?

[+Mpire_Builder+]

Funny how these threads can go off-track...

Kensington houses appeal to professionals. Quite expensive to get in buying a house (small!!) there. I think a lot of investors then chase suburbs slightly further out, ie Footscrayzy, Seddon, Yarraville, Kingsville for value.

http://www.realestate.com.au/property-house-vic-kensington-117928015

I love the style of housing there, I would live in one myself!!

Given its proximity to the city I don't think there will be issues with growth medium to long term.

People may mention the high rise commission flats in the area, but Toorak and St Kilda aren't fairing too bad!

Housing and apartment/unit living may be 2 different ball games, I'm not in a position to speak about those as i don't have too much knowledge on them

 

[Neptune]

Neptune thanks for the tips. Yes another agent had commented furniture may help but at this stage we may need to rent some for a week which could get expensive. Others in the same area have rented anywhere from 300 to 340 so in the ballpark. Which agent did you use if you don't mind me asking?

I use Burnham's (Footscray office).
Staging for rental would be quite expensive and not sure if people normally do that. We used the same photos from the sales campaign which were obviously professionally done.
I remember reading this story earlier this year from a local buyer's agent and dug it up for you....I believe it is in the same block as yours so hang in there
http://www.streetnews.com.au/great-rental-yields-and-strong-demand-in-kensington/

 

[+Mpire_Builder+]

I use Burnham's (Footscray office).
Staging for rental would be quite expensive and not sure if people normally do that. We used the same photos from the sales campaign which were obviously professionally done.
I remember reading this story earlier this year from a local buyer's agent and dug it up for you....I believe it is in the same block as yours so hang in there
http://www.streetnews.com.au/great-rental-yields-and-strong-demand-in-kensington/

Point to possibly consider is the large supply of apartments in Brunswick now and to come. Brunswick has better amenities and appeal than many of the older Kensington apartments/units. I guess many young professionals would look at the pricing point between the two.

Again, not discounting Ken, just food for thought.

DZ

 

[Sexyv40]

Thanks Neptune much appreciated. Went there on the weekend - the agent only had a 15 minute inspection and couldn't wait to get going so effectively was only there for 15 mins. Time for a change had enough Plus they had also not old us about more water damage that had been caused from the apartment above. No one turned up top the inspection again. Think it is time to drop the rent and just get someone in there.

 

[Sexyv40]

Good news got it leased at $320 so see how we go this time. Have done a lot to freshen it up as well, did look bad when I first looked at it. We hadn't done anything to it apart from blinds so guess can't complain. Hopefully better luck when lease renewal comes around next time.