Williamstown, Newport, Yarraville

[poyner]

Gday all,

Has anyone got any opinions on the subject suburbs (ie Williamstown, Newport or Yarraville?) We're looking to invest up to 750k in a 3 bed property in one of these suburbs. We'll live in the house for about 18 months and then it will become a rental.

To maximise rental return we're hoping to get something within about 1km of a train station and we're also hoping to try and get something with some land (ie not something that's already been subdivided).

It seems we'll get a better quality property in Newport or Yarraville for the same money as Williamstown but we're a little unsure about the potential for capital gains in the future as well as rental demand.

Anyway, if anyone has any thoughts at all about any of these suburbs we'd love to hear them.

Cheers,
poyner

 

[Tuppence]

I live in yarraville, and have lived in Newport previously. You're right, you will get more bang for your buck in Yarraville or Newport than Willi. Possibly the only real exception is that part of Newport south of North Road and east of Williamstown Road - it's called Newport but it's widely regarded as as good as Williamstown.
The other good areas of Newport are north of North Road and the Oxford-Elizabeth-Johnston Street area east of Newport Lakes.
In Yarraville, you'd probably do very well for $750k. Stay close to the village (on Anderson and Ballarat streets, near the station) if possible. The best streets (in no particular order) are probably Fairlie, Stephen, Bellairs, Tongue (closer to the village) and Tuppen, Maryston, Adaleigh and Corris (nearer Cruickshank Park).
As for Willi, probably the only part I'd avoid is Williamstown North and the estate on the old Rifle Range. Stick to the older, established parts and you won't go wrong.
PM me if you need any more info. Good luck.

 

[jacbmw]

I just did a quick analysis on Yarraville, and looks to be a pocket of higher priced properties starting around the trainstation, extending west along somerville (one block back each side of the main road).

There is a cold spot for pricing in the far west end, towards the cemetery.

Three bedders have the following quartile ranges:

1st: $525k Rental return: 3;07%
2nd (median): $606k Rental return: 3.13%
3rd: $660k Rental return: 4.14%

Sample in my analysis was over 200 properties, 3 bedder unit/houses only...

ps. I havent any shopping, train or school data for this area currently - so couldnt do a proximity analysis.

cheers, Jacob

 

[meri]

Hi, live in Williamstown which is a fabuous lifestyle investment as a residence. However, as a rental it is not good.
Probably you would do better for an investment in Newport, Spotswood or Yarraville assuming you are close to a train.

There are a lot of newish townhouses in Newport, especially near Mason Street and Blackshaws rd. which would give rental and also depreciation. Some are better constructed than others.

Also, be careful in Newport where you buy, as some areas are a long way from a station yet get the noise of the vline and country trains, as near Maddox Rd. and Blenhein Rd.

Good luck and happy hunting.

Meri

 

[Vic Bitter]

williamstown would be a great place to live from what i've heard, it's pretty much the toorak of the west. lots of famous names from the area over the years... bracks, brad johnson, philippoussis, etc.

however, for someone like myself williamstown as a rental place would be out of the question. i'd assume rental would be too high compared to most other places. capital growth wise, i think williamstown is streak ahead of yarraville in that department, especially over the long term. as for newport, i've never really paid that much attention to the area...

 

[keneth]

i know a little about newport...

take a look in the pocket between mason street and blackshaws road.

I picked a one bedroom unit oxford street for $190k in jan 2009, and sold for $320k in June 2010 post renovation..

They are now selling a 2 bedroom unit in the same block for 330-360k. so maybe i just got lucky! i think i did

It has good access to the melbourne road, and train line.

The streets are tree lined in some of it.

Only issue is rental demand / yield is pretty low in newport.

i had that guy Kenny (the guy in the plumber movie) live across the road! hehe

 

[imonmyway]

look towards altona, the area has plenty of growth left in it imo, but buying a 3bd house for 750k anywhere in melbourne will give you pretty ordinary rental returns as far as i know