Which area's in melbourne will go up in the next year or two?

I have started to search for a loan to expand on my options of having to buy off the plan.

I want to make a smart decision and buy in an area which will have some good capital growth in the near future. Therefore not wanting a good long term investment but something i can make a bit of money over the next few years.

I understand this is a crystal ball question but would like to hear the different views everyone has.

Looking for something affordable ie not over 350,000

Thank you in advance!
 
for under $350k you're kinda limited. If you want to get into the market buy in an area where you can afford, which would probably have to be something quite outer east near lilydale etc.
 
for that kinda budget I'd be more inclined to buy a 2 bedroom apartment in the inner-city. Why? Because I can get decent rental from them, it's scarcer than the legions of 1 bedroom apartments, and the capital growth should be OK.
 
very hard to find 2 bedroom in city for that price, will keep looking.

as this is my first property i want it to make it a winner (who doesnt)
 
for that kind of budget you can still get into altona meadows. it is zone 1 train station and right next to freeway access. bit seedy in parts but is definately on the way up! a lot of 1st home buyers have bought in the area.

worth a look. only 14kms from the city.

it depends what type of investor you are/want to be. some people go for a mix, some for just units, some only house with land that you can subdivide.

now wait a while and the 'anti west' group will come in here and disagree with me entirely, but in the last few years you could pick up a house for 240k now you won't find much under 300k.

3 years ago, not one house in altona meadows would of gone to auction... now heaps do.

good luck.
 
while you might not be able to get a 2 bedroom unit for that price, if you include rental income you can afford to pay a little bit more.
 
for that kind of budget you can still get into altona meadows. it is zone 1 train station and right next to freeway access. bit seedy in parts but is definately on the way up! a lot of 1st home buyers have bought in the area.

Can I ask which bits are a bit seedy? That's where I'm looking next, and I've only been there once, but my general feel of the place was that south of Queen Street / Central Avenue is the better area. Are there any sections in that part you'd stay clear of?
 
like any suburb i guess, anything near the train station or freeway.

you are right about queen st.

look into altona bay (it technically isn't a listed suburb) but it's like seaholme and altona (both one suburb in my eyes)

Altona bay is closest to altona, it is the part nearest the catholic primary school on queen st.

a lot of people that are building in point cook and the likes are renting units in altona or nicer houses in altona meadows. They usually have 1 small child as they are mainly building to get a family home.

the seedier part (closer to laverton station) actually has some new houses or duplex builds going on, which would of surprised the heck out of me 5 years ago.

and remember laverton has an express train and altona doesn't. my hubby still gets upset about this. we pay so much more for land in altona and don't get express trains! hmmm :mad:
 
for that kind of budget you can still get into altona meadows. it is zone 1 train station and right next to freeway access. bit seedy in parts but is definately on the way up! a lot of 1st home buyers have bought in the area.

worth a look. only 14kms from the city.

it depends what type of investor you are/want to be. some people go for a mix, some for just units, some only house with land that you can subdivide.

now wait a while and the 'anti west' group will come in here and disagree with me entirely, but in the last few years you could pick up a house for 240k now you won't find much under 300k.

3 years ago, not one house in altona meadows would of gone to auction... now heaps do.

good luck.


Thanks for your insight, how about point cook seems cheaper than altona meadows and is not to far away.

i got a feeling all these areas including werribee and hoppers crossing will have some good growth in the next few year.
 
I would say to you - dont over analyse it - all those places are decent.

Find a place where you want to live and buy there. If thats melton then go for it.

If you are looking for the golden key then you aint gonna find it. Just do it!
 
land prices will be higher in altona meadows. hence why it seems better value in point cook because the houses are not old. but as an investment if it were me, i would put my money on altona meadows.

my personal opinion... you will get more growth (even shorter term) out of altona meadows than point cook.

altona has had a huge increase just in the last 6mths alone, altona meadows will get a bit of push from that surely. i could be wrong, but houses in altona meadows generally seem to be sold pretty quickly now. always a good sign :)
 
you can say that again, i am just waiting for the best investment to come to me and say 'buy me ill make you the money'

i have to bite the bullet and buy where i could potentially love. there goes melton, point cook etc :eek:
 
look into altona bay (it technically isn't a listed suburb) but it's like seaholme and altona (both one suburb in my eyes)

Altona bay is closest to altona, it is the part nearest the catholic primary school on queen st.

Exactly where is Altona Bay? Is it located in Altona or Altona Meadows?
 
Top