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

[Intrinsic_Value]

Speculative position:
well how about this for a speculative position:
Use the current white hot market to reduce LVR's, build up cash buffers, and wait.....

Why is the speculative?
because whilst people often have an instictive gut feeling that a market is frothy, trying to time the end of that froth is very difficult.

 

[MTR]

Hi Intrinsic value

that is an excellent point, I think it's wise to take some money off the table.

I regret not doing this in the last Perth boom, when suddenly you go from boom to bust, interest rates rising and market flooded with stock. Learnt a lesson from this, make sure you have good buffer to ride any potential storms.

Cheers, MTR

 

[RocketMan]

Even with rising prices, aren't valuers still a very conservative lot, so any potential revaluations may not come up to what you're expecting?

 

[Ausprop]

Hi Intrinsic value

that is an excellent point, I think it's wise to take some money off the table.

I regret not doing this in the last Perth boom, when suddenly you go from boom to bust, interest rates rising and market flooded with stock. Learnt a lesson from this, make sure you have good buffer to ride any potential storms.

Cheers, MTR

I'll second that motion. sell into the hot markets and buy in the cooler ones. they all go in cycles.

 

[Bigtone]

Not too many blue chips in this bunch....

Northwest suburbs top the chart in Melb

1999 to 2009

Broadmeadows $105,100 $357,500
increase 240%

Maidstone $155,000 $499,500
increase 222%

South Melb $340,000 $1,067,500
increase 214%

Footscray $195,000 $602,500
increase 209%

Sunshine $140,000 $426,000
increase 204%

Glenroy $153,000 $460,000
increase 201%

Keilor East $182,500 $515,000
increase 182%

Thomastown $142,000 $390,000
increase 175%

I think the difference between these suburbs which had pretty good growth in these years compared to suburbs like Werribbe, Melton, Point Cook etc is that they were all ( especially the ones at the top) established suburbs with inforstructure in place. If you want a good comparison compare the growth in neighboring suburbs over that time period such as Chelsea vs Chelsea heights, aspendale vs aspendale gardens, carrum vs carrum downs and heaps of others, the established neighbor with older houses and inforstructure far outperforms the newer suburb with ageing McMansions built by FHOB's.

 

[The Y-man]

Let's go back to the requirements of the original post - this person wanted to essentially "flip" this property in a 1 to 2 year period - so 10 year avergae figures may not be relevant - what is being asked for here is a "timing" tip, not a "time in" tip.....

Cheers,

The Y-man

 

[very_ready]

i second that )

 

[kenji]

ok Altona Meadows within 2 months or never... with 350k.. for a 3br house > 600squ

 

[Intrinsic_Value]

Let's go back to the requirements of the original post - this person wanted to essentially "flip" this property in a 1 to 2 year period - so 10 year avergae figures may not be relevant - what is being asked for here is a "timing" tip, not a "time in" tip.....

Cheers,

The Y-man

Very well then let me put my property traders cap on and get back to basics.
Property trading rule 101:
Property rises generally occur in the centre and then have a ripple effect outwards.

Therefore if i was trading property, i would be looking at the ripple effect.
I would be concentrating on various suburbs that are as close to the centre as possible, yet havent incurred the same level of % price increase.

Property trading rule 102:
After a signficant price appreciation in a particular suburb, the surrounding suburbs generally recieve a ripple effect.


Therefore i would be looking at those suburbs that have had the greatest % price increase and analysing the surrounding suburbs to benefit from the ripple.

Hope this helps.

PS who says i cant be a trader when i put my mind to it

 

[MTR]

In 2007 Melb inner city boomed.

In 2009 Melb middle ring boomed, and now....... I think you could throw a dart at any suburb in Melb and make money, it's boom times.

 

[jcwc888]

Saw the herald sun the top suburbs in melbourne with 100% auction rates for 2010 were like ormond, mulgrave and bentleigh.

 

[jingo]

In 2007 Melb inner city boomed.

In 2009 Melb middle ring boomed, and now....... I think you could throw a dart at any suburb in Melb and make money, it's boom times.

and don't we love it MTR!!!

Regards Jason.

 

[BayView]

Saw the herald sun the top suburbs in melbourne with 100% auction rates for 2010 were like ormond, mulgrave and bentleigh.

Careful of this stat.

They quote any property being auctioned as a clearance whether it sold prior, at of after the auction.

Mind you, in any case it's a good sign of a boom when every single property sells that is for sale.

 

[Player]

These are the Halcyon Days

The halcyon days are here ............time for revals and for those who have any intention of harvesting, I reckon this may be the year to take money off the table in Melbourne and, perhaps put it into Sydney or parts of Brisbane.

Ahh.....the rush

 

[jingo]

The halcyon days are here ............time for revals and for those who have any intention of harvesting, I reckon this may be the year to take money off the table in Melbourne and, perhaps put it into Sydney or parts of Brisbane.

Ahh.....the rush

Yes, indeed. We will all be running sales agents and or valuers off their feet in the coming months to take advantage of this wonderful situation!!

Sydney and Brisbane here we come!!

Regards Jason.

 

[mmamstd]

Deer Park, Altona Meadows, Seaford ...and bit further out Upwey

 

[navigator]

Hi everyone... just joined the forum last night. Look forward to getting to know you. Just curious mmamstd, why Seaford and Upwey? Do you think these will perform better than the Western suburbs such as Werribee and Hoppers Crossing?

 

[mmamstd]

Seaford:
If you look at the east bay side suburbs (brighton to port sea) Seaford is pretty much the only suburb where you can buy a property (house) near beach around 400k and its just the matter of couple of years before it joins the high $ market..and the transport is convenient (metro trains, freeways) yealds are good...and if you compare the beaches...Seaford (South east beaches) are way way better than anything you find before ocean grove in the west. Once the "supply" for south east beachide properties goes down (i am talking about the houses whcih are within 300m from beach)..the "demand" will be up the roof.

Upwey: Its just a ripple effect from the boom in the eastern suburbs...Cheap housing huters can always go for house+land in the "dry" west...however the people who wanna spead a good money (around 400-500k) and want a decent sized blocks in "green" suburbs and who cant spend millon$ for suburbs like boxhill, blackburn etc...you could still buy a property around 300K in upwey with decnt size and great views...and its still an hr by train to city...(look at the growth in Mitcham, Ringwood, Bayswater, Boronia, Ferntree gully ...its been up the roof in last 2 years)...

Why not Werribee or HC? ...its just economics ..Supply & Demand...if you look at the map...there is way too much land available out there ...if one suburb is full another one pop's up ...people dont mind to go another couple of Km's if they can get new house and land for less than the old in werribee....in the east and south east there is not much supply left.

Anyways this could be my subjective opinion and if you keeping the IP's for atleast 3yrs and over....happy to hear what others think.

 

[thomop]

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.

Onthemove,
I disagree with you. I think that peoples opinions with this subject will have no effect what so ever on anyone posting in this forums ability to purchase a property.
I think that people interacting on this site are "doing their research".

Just my thoughts.

 

[investwest]

kind of disagree with the housing commission theory.

Yep stay away from housing commission. That area will never gentrify.

I thought that too, but really it comes down to land value, and being close to the city, it's got to go up. And in saying that, have a look at Laverton, housing commission, on big blocks, zone 1 smack bang in the middle of big growth area, the prices have already jumped there. Wish I hadnt turned my nose up at housing commision three years ago. i could have bought for $160,000-$180,000 , now worth 320,000- 360,000.