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

sorry. altona bay is part of altona meadows.

if you are coming from altona and head up queen st past the kooringal golf course and the sports stadium you will see the catholic primary school on your left. head left and then left again. all part of altona bay.

any real estate agent who has been around long enough should know where it is. i guess you could say it was the best part of altona meadows before they built that newer estate up past knightsbridge ave (off merton st).
 
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:

I would go with other areas - point cook -hmmmmm if you keep driving you can see large pieces of land still waiting to be developed. Why would somoene buy your place say 2 years dow the track when he could have a new place? although the land sizes maybe slightly smaller..the house size is still the same - the prices would be only 20-30K difference. and you can't subdivide anyway. That's what i have a looked at when i wanted to purchase 2-3 years. Wanted to buy this 500sqm land for around 180K and build a 210 sqm place. now the land size is around 230K for 350sqm - similar price smaller land.. unless you spend a lot of time in the garden...and not working. My fren who is an overseas student got his approval accepeted ASAP why coz too many places for rent.
 
Infill land

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 :)

Agree with OTM and others who have indicated staying away from the plethora of subdividable land on the fringes. Nothing protecting your property value from being diluted by new stock being rolled out.

Buy infill locations with as much land as budget allows. Don't know personally what values are in Altona Meadows however ask yourself this question:

Can they manufacture any more land there?

As unfamiliar as I am with that suburb, I do understand the precinct, hence my answer would be NO, they cannot make any more dirt there.

If you are able, look for sites of around 600-650 sq m (assuming your dollars stretch that far) and you will have upside of creating money out of thin air should you chose to subdivide with or without developing.....all within a 15-18 km (or so) ring from CBD.
 
Agree with OTM and others who have indicated staying away from the plethora of subdividable land on the fringes. Nothing protecting your property value from being diluted by new stock being rolled out.

Buy infill locations with as much land as budget allows. Don't know personally what values are in Altona Meadows however ask yourself this question:

Can they manufacture any more land there?

As unfamiliar as I am with that suburb, I do understand the precinct, hence my answer would be NO, they cannot make any more dirt there.

If you are able, look for sites of around 600-650 sq m (assuming your dollars stretch that far) and you will have upside of creating money out of thin air should you chose to subdivide with or without developing.....all within a 15-18 km (or so) ring from CBD.


great post, thank you!
 
. Therefore not wanting a good long term investment but something i can make a bit of money over the next few years.

That's a hefty criteria right there - "a few years" meaning 2~3 I assume?

From my view of reality, this would incur some risk (i.e. you are going to have to be able to deal with volatility). We need to know your answers to other questions, such as: What sort of "hit" can you take if it doesn't go up?

For instance, an area waiting on the approval of some infrastructure or other community attraction might go up significantly once the application is approved. However, if the worst case happens - it get's knocked back - can you afford to either sell and take a loss or afford to hold?

Cheers,

The Y-man
 
That's a hefty criteria right there - "a few years" meaning 2~3 I assume?

From my view of reality, this would incur some risk (i.e. you are going to have to be able to deal with volatility). We need to know your answers to other questions, such as: What sort of "hit" can you take if it doesn't go up



For instance, an area waiting on the approval of some infrastructure or other community attraction might go up significantly once the application is approved. However, if the worst case happens - it get's knocked back - can you afford to either sell and take a loss or afford to hold??

Cheers,

The Y-man

I guess worst case i could afford to hold the property, this will just set me back from moving onto another investment. As i will lease out the property i would like to get a reasonable return so even if the area doesnt go up i can afford to hold onto the property as i wont need to pay too much out of my own pocket for repayments.
 
I don't think you would be able to get hte cheapest land package in Point cook for $350k now

Do a search on point cook

http://www.realestate.com.au/cgi-bi...minbed=&maxbed=&parking=&minlandsize=&m=&p=10

saw a couple of

http://www.realestate.com.au/property-house-vic-point+cook-106401786?tm=1269477034&c=38618978&t=res

933 Fongeo Drive, Point Cook
From $348,100
House and Land Package - Isis
Features:

* Ensuite

The Isis is a home that is compact yet clever. The master suite offers a generous walk-in robe and ensuite - and the living, dining and kitchen areas flow as one large open plan entertainment space that offers a multitude of uses. The 2nd and 3rd bedrooms, 2nd bathroom and laundry are cleverly set back from the living space and serviced by their own hallway, giving every member of the family the seclusion they need whether they're sleeping, reading or studying

Includes:

* Carpet and Tiles throughout
* 900mm Glass Canopy Rangehood and Freestanding Upright Cooker
* Designer Mixer Tapware throughout
* Sectional Panel Lift Garage Door with Remotes
* Alarm System
* 20mm Stone Benchtops
* Optic Fibre Installation
* Fencing
* Render
* All Site Costs and Council Requirements


I had a look at point cook 2 years ago. looking for a 3 bed 2 bath 1 carpark. PRicewise maybe 20-35K diff. I'm not factoring next door to lake views etc just the basic 3 bedder for a family to stay. End Result is not a justifiable return for me.
 
it will be great if anyone that reads this post writes a one word answer to the area they think will have the most growth and quick 1 sentence why.


example

Melton, why: growing area

THANKS IN ADCANCE
 
I'd suggest you regularly purchase the Saturday Herald Sun and The Age newspapers. They'd usually have a whole section on property and sometimes feature one estate.

When I was considering suburbs, I used the weekend newspapers as part of my research. :)
 
you are looking for pretty much what everyone wants.

a lot of people don't want to share the areas they are looking in as that just adds to the competition.

do YOUR research. that is kind of what makes a good investor also, research and knowledge.

go out on weekends and look around. call some agents. buy some reports.
 
Hadfield.

  • Close to the city (12km) but still affordable relative to neighbouring suburbs (ie Pascoe Vale)
  • currently a lot of development activity there (houses being replaced with townhouses)
 
you are looking for pretty much what everyone wants.

a lot of people don't want to share the areas they are looking in as that just adds to the competition.

do YOUR research. that is kind of what makes a good investor also, research and knowledge.

go out on weekends and look around. call some agents. buy some reports.

Bentleigh...can get a decent house on decent plot of land at least 600sqm for <$1mil. Next to Brighton, booming Centre Road, nice clean pretty streets, awesome californian bungalows

Also Ormond, Mckinnon great suburbs!
 
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