We bought a home for 320K in Deer Park and settled last month. The property would sell for 350K to 370K without a doubt.
Where in Melbourne
- Thread starter sneak
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+1 especially if you want to add value. Having said that just sold my townhouse this week in Ardeer lol, lots and lots of interest so definately hot market right now.
We're currently looking South East. Practically narrowed it down to a decision between Noble Park and Berwick/Beacy.
When you see homes go for 690k (a block next door to Noble Park) you'd think it'd have to go up next. Then Berwick Station is only 13 minutes beyond Noble Park station the area is far superior with far more amenities and it's only 3 or 4 stations up. I've known Melbourne my whole life the South East has always been rather pristine outwards to Oakleigh, then Clayton and onwards it becomes rather lower socioeconomic all the way to Hallam Narre Warren
You Have Maidstone-Deer Park on the other side of the city. Long term trends have always shown Berwick to grow better than Noble Park.
Either Noble park will outgrow Berwick or they will both grow together.. wish I was a lot better at figuring this stuff out. From memory Springvale was always cheaper than Berwick now the median is 100k more. Though Noble Park is not the same as Springvale and Clayton, completely different demographic. Noble Park is 29min to the cbd by train.. Preston is also 29min.
When you see homes go for 690k (a block next door to Noble Park) you'd think it'd have to go up next. Then Berwick Station is only 13 minutes beyond Noble Park station the area is far superior with far more amenities and it's only 3 or 4 stations up. I've known Melbourne my whole life the South East has always been rather pristine outwards to Oakleigh, then Clayton and onwards it becomes rather lower socioeconomic all the way to Hallam Narre Warren
You Have Maidstone-Deer Park on the other side of the city. Long term trends have always shown Berwick to grow better than Noble Park.Either Noble park will outgrow Berwick or they will both grow together.. wish I was a lot better at figuring this stuff out. From memory Springvale was always cheaper than Berwick now the median is 100k more. Though Noble Park is not the same as Springvale and Clayton, completely different demographic. Noble Park is 29min to the cbd by train.. Preston is also 29min.
We're currently looking South East. Practically narrowed it down to a decision between Noble Park and Berwick/Beacy.
When you see homes go for 690k (a block next door to Noble Park) you'd think it'd have to go up next. Then Berwick Station is only 13 minutes beyond Noble Park station the area is far superior with far more amenities and it's only 3 or 4 stations up. I've known Melbourne my whole life the South East has always been rather pristine outwards to Oakleigh, then Clayton and onwards it becomes rather lower socioeconomic all the way to Hallam Narre Warren
Either Noble park will outgrow Berwick or they will both grow together.. wish I was a lot better at figuring this stuff out. From memory Springvale was always cheaper than Berwick now the median is 100k more. Though Noble Park is not the same as Springvale and Clayton, completely different demographic. Noble Park is 29min to the cbd by train.. Preston is also 29min.
WTF ...just about every single thing said above is exactly what I've thought.
Times have changed, for a family living, looking for a nice area, etc. you'd choose Berwick over anywhere from Clayton to Dandenong in a million years.......and it used to be priced that way as well.
Noble Park at the moment is going thru a BOOM - Anything with more than 550m2 is fetching into the 500s and even in the 600s.
It seems the population squeeze along with ripple effects from the Chinese investors has taken a proximity approach - so Springvale has sky rocketed in the past year and that has rippled into Noble Park, Mulgrave, etc.
All of Noble Park will be dense living very soon - just about every purchase in Noble Park will be with the intention of multi unit development - to be honest, it's going to look ugly in a few years time (but then again, so is springvale, and the others).
Berwick has only had low average steady growth and this is due to it being further away from the city and mainly because of two other reasons combined; 1) availability of stock in newly developed areas and 2) these newly developed areas are in different suburbs but they criminally name their estates "berwick waters", "berwick springs", etc...
If you are looking for a lovely place to live with great schools, universities, hospital, TAFE, and good access to train station and freeways, then Berwick all day long.
If you are looking for and investment property, you would probably go Noble Park (but you may have missed the boat for that one).
PS - I live in Berwick and work in the CBD. I have an IP in Noble Park which I purchased with view to moving into, to be closer to the city (about 20 mins closer by train), but the more I visited the property and area, I can't see myself and family moving into Noble Park any time soon.
Born and bred in Noble Park whilst growing up, was always a rough area but I wouldn't of wanted it any other way.
Parents sold in 1997 for $124k our family home on 600sqm and then we moved to Rowville which since has gone nuts too.....but generally I can't believe what is happening in Noble Park and what is driving it, unbelievable stuff.
Like the people above say, 2 completely different areas and chalk and cheese. Ultimately depends on what the objectives are, whether to live or develop. Even to develop now though, I don't believe the numbers stack for Noble Park anymore.
