Hi everyone,
Please share your top 5 suburbs in 2014?
MI
Please share your top 5 suburbs in 2014?
MI
Your top 5 suburbs in Melbourne -2014
- Thread starter MelbInvester
- Start date
Looking forward 2014 looks like it'll be similar to 2013 providing interest rates don't start hiking back up.
If we look at last year the top performing LGA's for capital growth were:
HOUSES
Boroondara - 13.1%
Manningham - 9.8%
Port Phillip - 9.7%
Glen Eira - 9.3%
Whitehorse - 9.3%
UNITS
Bayside - 8.5%
Monash - 8.2%
Whitehorse - 7.4%
Boroondara - 7.3%
Yarra - 6.8%
So to oversimplify the situation and base this year's picks on last year's results units you could cherry pick these suburbs.
Apartments - St Kilda, St Kilda West, Elwood
Villas - Brighton, Hughesdale (and surrounding)
Houses - Hawthorn, Camberwell
There are many other viable suburbs that have above average growth predicted and then there are some suburbs that will be more relevant for yield buyers...
I'd recommend conducting your own due diligence on any suburb and ensure it fits in with your personal aspirations and strategy.
If we look at last year the top performing LGA's for capital growth were:
HOUSES
Boroondara - 13.1%
Manningham - 9.8%
Port Phillip - 9.7%
Glen Eira - 9.3%
Whitehorse - 9.3%
UNITS
Bayside - 8.5%
Monash - 8.2%
Whitehorse - 7.4%
Boroondara - 7.3%
Yarra - 6.8%
So to oversimplify the situation and base this year's picks on last year's results units you could cherry pick these suburbs.
Apartments - St Kilda, St Kilda West, Elwood
Villas - Brighton, Hughesdale (and surrounding)
Houses - Hawthorn, Camberwell
There are many other viable suburbs that have above average growth predicted and then there are some suburbs that will be more relevant for yield buyers...
I'd recommend conducting your own due diligence on any suburb and ensure it fits in with your personal aspirations and strategy.
good points jake,
but from Op's posting history I get a vibe, he is looking at lower end so hawthorn, camberwell and the rest is out of their price range
but from Op's posting history I get a vibe, he is looking at lower end so hawthorn, camberwell and the rest is out of their price range
I agree with you with Highett's and Hampton East's 1year performance but please, let me show you why those suburbs I've mentioned are still the better...
*Source Residex Suburb Reports
Looking forward over the next 5 years there are three clear stand-outs.
If someone is looking to buy and hold a single IP for more than +10y there really isn't that much difference in a historical sense between suburbs... However, if someone needs aggressive growth to build a portfolio then positive forecasts are critical.
OP what are you chasing? Is it capital gain? Or status?
If it's status you are seeking, I suggest Toorak, a lovely place for those who can afford it. Don't know how much higher prices can rise - its already very expensive.
If it's capital gain that you seek, there are plenty of cheap, rentable houses selling for around $300k or less in Frankston, mostly on redevelopable dual occ sites. For what it's worth, it's worth researching.
Warning:
1. Buying in low-status Frankston will only elicit pity or derision from one's friends.
2. Buying in Toorak gets you bragging rights but probably less % upside in terms of capital gain.
If it's status you are seeking, I suggest Toorak, a lovely place for those who can afford it. Don't know how much higher prices can rise - its already very expensive.
If it's capital gain that you seek, there are plenty of cheap, rentable houses selling for around $300k or less in Frankston, mostly on redevelopable dual occ sites. For what it's worth, it's worth researching.
Warning:
1. Buying in low-status Frankston will only elicit pity or derision from one's friends.
2. Buying in Toorak gets you bragging rights but probably less % upside in terms of capital gain.
man, you are slipping, it took you 6 hours to mention frankston from the original post, whats wrong with you?!?!?!
Well, Frankston does have plenty of cheap development sized blocks.
Good value for money if you plan to develop or sell to a developer in the long run.
Its also a beachside suburb which is a plus. But as the above poster said, Frankston is nothing worth bragging about if you are a status oriented investor
Good value for money if you plan to develop or sell to a developer in the long run.
Its also a beachside suburb which is a plus. But as the above poster said, Frankston is nothing worth bragging about if you are a status oriented investor
TNMT, don't be so mean or make such derogatory remarks about Grand dad's posts. He is only suggesting possible suburbs where house and land still can be bought cheaply for OP, instead of apartments.
Anyways, soon apartments will be springing up in every neighbourhood activity centre (NAC) in every suburb as councils are starting to rezone NACs
"Where there has previously been one "Residential 1 Zone (R1Z)", there will now be three more specific zones:
Residential Neighbourhood Zone - Development restricted to two storeys, and no more than two dwellings per block
Residential General Zone - Provides for a range of different housing development of approximately two to three stories, and
Residential Growth Zone - Allows for medium-density development of up to four stories".
VCAT also favours higher density apartments in suburbs as far aways as 15-17km as long as it is near some shops and a bus-stop and in an area where there already are 2-storey townhouses. Been there. Done that. Council refused developer. Developer, Council and residents go to VCAT. Council and residents lose. Developer wins.
Last edited:
I agree with you with Highett's and Hampton East's 1year performance but please, let me show you why those suburbs I've mentioned are still the better...
*Source Residex Suburb Reports
Looking forward over the next 5 years there are three clear stand-outs.
If someone is looking to buy and hold a single IP for more than +10y there really isn't that much difference in a historical sense between suburbs... However, if someone needs aggressive growth to build a portfolio then positive forecasts are critical.
I've used residex reports in the past. They are just predictions. Some have been okay, some have been way off, you're taking it as gospel.
I've lived in the region my whole life, and involved in top end homes in Toorak, Brighton, Armadale etc. I've developed from Brighton --> Frankston.
Hampton East with 0% CG in the next 5yrs is absolutely laughable.....
building more townhouses & units only makes house prices rise. but more importantly, i would never ever ever pay stupid amounts of coin to live in a townhouse or a unit, with no bloody land or even an apartment, i think some people are just plain crazy to even doing so.
If your an retiree and want to downsize thats fair enough.
example: i got my house valuated last year at $340,000 when a newly built townhouse sold in the same street for $370,000. i though thats bloody stupid! seriously though i do find it rather crazy you have no land and say example pay 400k amount of coin for a townhouse. where down the road i could pay 350k for a 650sqm land with a not so good house on it.
Land appreciates, buildings depreciate.
If your an retiree and want to downsize thats fair enough.
example: i got my house valuated last year at $340,000 when a newly built townhouse sold in the same street for $370,000. i though thats bloody stupid! seriously though i do find it rather crazy you have no land and say example pay 400k amount of coin for a townhouse. where down the road i could pay 350k for a 650sqm land with a not so good house on it.
Land appreciates, buildings depreciate.
Again, I agree with your point. They are predictions and as no one can see into the future sometimes they're right and sometimes they're wrong. With that in mind I'd rather put my money on a horse with better odds than worse ones wouldn't you?
Also the economic situation, proximity to CBD and infrastrucure of Brighton, Elwood & St Kilda is more desirable than the other suburbs in my personal opinion. I'm not saying there's anything wrong with the other areas that you've mentioned however it's the mass-market that moves property prices and it's quite evident that most people would choose to live in Brighton over Moorabbin in my experience...
Did you just cover half of Melbourne with your list, when the question was 5 suburbs?
Would you like to add anything constructive or do you want me to lend you one of my baby nieces rattles to play with?
Pay closer attention.
Totally agree.
Of course, its much sweeter if one's land can be redeveloped, subdivided etc.
There are still some affordable opportunities out there for those who bother to search for them.
neeko;1123498 [B said:
Agree too, most luck I've had is in hampton with a 1000sqm block that was "too expensive " in 2001. Now has 15 units on it
Also have done ok in Brighton, where even the shiteiest land is $200sqft. Can't beat proximitity to the beach, transport, schools and other infrastructure. Will always be prime land.
mmm land value houses my favourite!
From memory, grand dad sunk the majority of his super into Frankston and therefore would have a vested interest in the suburb performing well.
Somersoft has thousands of members and visitors so it would serve him well to hype up and mention Frankston in every one of his posts to build interest and get people taking notice of the suburb.
I don't believe he is totally unbiased and impartial with his recommendations.
