Ditto Doveton, Frankston North etc.
Which area's in melbourne will go up in the next year or two?
- Thread starter very_ready
- Start date
Ditto Doveton, Frankston North etc.
None of them? Melbourne is overheated and will crash
3 years... nahh just 6 months ago the house I bought in 280k, now worth 350,000- 400,000 or more with a little reno compare to others' sell... easy in Altona Meadows and Laverton that are sandwiched between high growth areas Point Cook and Altona. Hey.. new train station already set, gonna have new parks, new plans from council... 5m to the beach and 15m to city through freeway. I just wish I could buy at least 1 more IP here but.. price change weekly sigh... Last words, my IP was leased just in 2 days!?!?
Prospects on the rise
By Nicole Precel
30th March 2010 11:06:02 AM
"IN 10 years time Hobsons Bay median house prices could hit the million-dollar mark.
Australian Property Monitors released price forecasts for the next three, five and 10 years of houses and units.
The forecasts show buying in Altona, Altona Meadows, Altona North or Williamstown could soon be unachievable.
In Altona, Altona North and Williamstown property price forecasts all exceeded a million dollars.
In the next 10 years, APM predicted Altona property prices would hit $1,415,237, Williamstown would jump to $1,901,250 and Altona North to $1,161,269."
Altona Meadows is expected to have a price jump to $801,607 in 10 years."
Prospects on the rise
By Nicole Precel
30th March 2010 11:06:02 AM
"IN 10 years time Hobsons Bay median house prices could hit the million-dollar mark.
Australian Property Monitors released price forecasts for the next three, five and 10 years of houses and units.
The forecasts show buying in Altona, Altona Meadows, Altona North or Williamstown could soon be unachievable.
In Altona, Altona North and Williamstown property price forecasts all exceeded a million dollars.
In the next 10 years, APM predicted Altona property prices would hit $1,415,237, Williamstown would jump to $1,901,250 and Altona North to $1,161,269."
Altona Meadows is expected to have a price jump to $801,607 in 10 years."
Nooooo, not yet, slow down and wait for me!
I want to buy my next property there in about a year, but am noticing the prices just keep going up and up, even in just the last six months or so that I've been watching it. I am HOPING (as that is all I can do at this stage) that it will slow down as interest rates go up and stabilise at most.
I was thinking of a unit maybe instead of a house to get in sooner, but there seems to be a LOT of subdivided blocks there with 2 bedroom units/houses. I suspect a 3 bedroom house might be a better investment and worth paying the extra for, for somewhere like that, as it seems to be a family area... ?
doveton is an interesting one, what are people thoughts, still reasonable affordable
The REIV median house price for Altona, Altona North, Altona Meadows & Williamstown are currently 668K, 501K, 400K & 800K respectively. So the price increases by more than 100% in 10 years.
Housing commission areas will still go up. They will trend normally. But heavily commissioned areas like heidelberg heights will never change in terms of who will live there.
Fitzroy for example went from working class to middle upper in about a 20 year transition. That wont happen in Heidelberg Heights imo.
Fitzroy for example went from working class to middle upper in about a 20 year transition. That wont happen in Heidelberg Heights imo.
Introducing affordable housing in Doncaster.
22kms. Sounds unlikely to be unless the house is part of the freeway on ramp and the exit ramp is Bourke St mall.
Same goes for Alamein.
When I was a kid this was a dodgy area (I used to deliver papers there
) and a friends family sold their 3 bedroom house in the mid 90's for about 100k, but now sub-divided ex-commissionhouses go for over 600k.http://www.realestate.com.au/property-unit-vic-ashburton-106260133
Hiedelberg West is a funny one. It has a lot going for it in regards to location and the suburbs that surround it, but seems to still have that "commission" stigma.
Last month, a Hong Kong holding company directed by business woman Margaret Ma Lou quietly set an Australian record when it paid $19.36 million for the sub-penthouse. The extravagant price tag bought 900 square metres in a building that boasts its own cinema, round-the-clock concierge and 25-metre lap pool. Bank of China provided the loan
OK so I'm reading this Record price paid, so what should be a reasonable price ? 10 million ? is this driving up the property prices ?. Its a supply and demand thing, Why don't owners like us sell the property at what we brought it for 5 or 10 years ago in the current market ? Because we all want to better our future and make money. I certainly wish I brought 5 years ago. Maybe i'm thinking outside the square, my wife went to Sydney university and her foreign friends, eg one American Female came here to study then go home, Her father paid for her entire years rent upfront, and will probably do it for the remaining 2 years as well. Wealthy Chinese student single male. rents a nice luxury apartment for 600pw. He will finish studies and go back home. More money to be made back home than here.
Its always big numbers that attract attention
OK so I'm reading this Record price paid, so what should be a reasonable price ? 10 million ? is this driving up the property prices ?. Its a supply and demand thing, Why don't owners like us sell the property at what we brought it for 5 or 10 years ago in the current market ? Because we all want to better our future and make money. I certainly wish I brought 5 years ago. Maybe i'm thinking outside the square, my wife went to Sydney university and her foreign friends, eg one American Female came here to study then go home, Her father paid for her entire years rent upfront, and will probably do it for the remaining 2 years as well. Wealthy Chinese student single male. rents a nice luxury apartment for 600pw. He will finish studies and go back home. More money to be made back home than here.
Its always big numbers that attract attention
went to an auction recently - saw an aussie guy - since he was asking the agent with the accent (presumingly he is not faking or an american or something) won an auction at 925K for a small 3 bedder inner city apt.
Anyway - yeah prices might soften and fall slightly.
Anyway - yeah prices might soften and fall slightly.
is it worth buying to renovate and sell.
I really want to start buying to renovate and then sell to generate cashflow, need cash flow. I like Laverton. How much did you spend on renovating, and what did you do, do you think its worth buying to refurbish/renovate in good old Laverton? thanks.
I really want to start buying to renovate and then sell to generate cashflow, need cash flow. I like Laverton. How much did you spend on renovating, and what did you do, do you think its worth buying to refurbish/renovate in good old Laverton? thanks.
Only catch is if you don't hold onto the property for a minimum of 12 months you won't receive a 50% discount on your CG. Even if holding the property for 12 months, if you appear to be running a business, i.e. a view to making a profit by renovating houses and selling them, you won't get the 50% CG discount.
Absolutely
It pays not to be biased. I had a big advantage though in having lived in Altona Meadows my whole life. Saw the big boom in laverton coming, just came alot quicker then first imagined!Absolutely
Hi All,
Can anyone give me details of good real estate agents who can advise potential buyer like me of new listings in Altona meadows and laverton.. it seems since the stock is limited and ppl are buying, agents dont seem to care for me because I am not ready to pay ridiculous prices for laverton ..mostly old run down houses and decent size blocks... Any help/tips of how to find a quaility buy for 300K - 310K would be appreciated.
Go to Pier St, Altona. There are many real estate agents there and they do Altona Meadows and Laverton. Tell them what you want and ask them to put you on their mailing lists whenever a new listing comes up.
