Williamstown for Units?

[ChasingSugar]

Hi everyone,

I am having trouble finding information on Williamstowns prospects going forward? There seems to be plenty of 'Blue Chip' mentions, but looking at the latest API data set, Units in Willi have only seen 2.5% growth over the past 10 years?? It's seen a small reducation over the past year (0.5%) and only 1.6% over the past three!

I know it historically is seen as a Blue Chip suburb. My thoughts are with the West of Melbourne expanding, demand for the beach and seaside over that side of the Westgate will only increase? I also see the ship building contracts should be extended, so job security there.

Does anyone have some information please that they can share?

Thanks!

 

[Aaron_C]

Those median figures are pretty crappy and useless. Look at what ACTUAL units in that area have sold for, compared to what the same units sold for years ago. Otherwise you are just making broad assumptions with no basis and basing your investment decisions on a guess.

As for Williamstown the suburb, it has always been a decent area (for a Western suburb). I would think demand is always strong although people like me only go as far West as Carlton but others disagree with me on that one

 

[ChasingSugar]

Thanks Aaron. That was a key point I wasn't considering. Due to the 'blue chip' nature of the suburb, the properties being sold vary widely in terms of price. those on the water are $1Mill+, those at the Newport end can be $300K. Fair whack on the median!

 

[Jake Milne]

Williamstown is okay for units... I'd prefer to invest in villas here rather than apartments though.

Still, apartments are reasonably priced here ranging from $300k-$450k for your standard, established 1-2 bedders.

 

[ChasingSugar]

Cheers. Negotiating on some now.

Looked into it further and in the inner west the market is definitely warming up. I'm comfortable with the area now after looking further into what is driving it.