Would the canny here like to give some predictions and advice on 2-3 BR Units in these suburbs in Melbourne from point of view of which you think will give best Capital Growth and Yield prospects over next 5-10 years. ie: where would you buy this type of IP - or would you go elsewhere for the best potentials.
Bentleigh East
Moorabbin
Highett
Cheltenham
Mentone
Parkdale
Parts of these suburbs can be as important as the choice of suburb with regards desirability. Eg school zoning or 'bayside of highway'.
Bentleigh East - if it's in the McKinnon Secondary zone it's very good. Still OK if it's not. Bit remote from tranport but still handy to jobs at Chadstone & Southland. Bentleigh Station is last Zone 1 but buses are Zone 2.
Central Moorabbin is pretty much the area's 'dead spot', 'dumping ground' and 'traffic sewer'. The sort of place everyone drives past but gives a miss in favour of Southland, Bentleigh and even Highett.
Moorabbin is a failed local centre - anything big that opens there closes down or moves out (IKEA, local council, St Kilda Footy club), although there's the new court house on the way to Highett and Holmesglen TAFE to the east (which may help rental demand).
Moorabbin used to be a much bigger suburb, but Bentleigh, Bentleigh East and Hampton East have expanded as they're thought more desirable. Current plans are for a new housing commission deveopment there. Having said that there is nothing wrong with a house in a quiet pocket around there.
Highett - I like it. Nice (but small) shopping strip and near Southland. But bear in mind that like Moorabbin its trains are slow and infrequent compared to Mordialloc, Parkdale, Mentone or Cheltenham as expresses miss it.
Cheltenham/Mentone/Parkdale. All good but divided by railway line and highway. Areas east of the highway are much cheaper than the west and don't have the train and beach within walking distance. All have express trains to the city so travel time is quicker than Highett or Moorabbin.
The best housing in the area is found in Mentone bayside of the shops. Mentone has the best selection of private schools in the area and excellent public transport. Of all the areas mentioned Mentone has the best cafe vibe. The part of Mentone east of Warrigal Rd is probably OK but near Moorabbin airport - a plane crashed down there causing a near-miss a year or so back.
Parkdale is a bit like a mini-Mentone and again a very liveable suburb. Less schools, fewer shops but they're well kept and there's a public library there as well. Again I like it.
It's very easy to work out which are the best and not so good areas, but which will appreciate fastest is anyone's guess - the 'best' area may not necessarily appreciate fastest. Instead just buy somewhere that offers the best amenity for the dollars and don't pay too much.