hi does anyone know what melton is like as an area , also does anyone see strong growth within this area , i noticed the prices the are still relatively cheap , wondering why?
Buy Buy Buy
I cant undersand why it is so cheap myself but it is the cheapest suberb in melbourne. All the new development from 2 major motor ways are heading quickly toward melton it can only go up in value.
Plenty of infrastucture , no real reason for the price except still plenty of land between melton and melbourne. But that is quickly being developed.Cheers Rick
Monopoly, my favourite game
Melton mmm!I was born & bred in Bacchus Marsh and went to School in Melton.It has good infrastructure but really nothing on offer in terms of lifestyle its flat and Baron.When i was there it had a bad name lots of drug activity and crime high unemployment.Melton real estate has doubled just like everywhere else but i dont think i would invest there becuase theres to much land available and wheres theres alot of land you wont get good capital gains unless you buy somewhere unique. mmm where would that be in Melton, no cant think of anywhere,or maybe its because i went to Shcool there and i’m being bias.Always buy real estate that is unique.
Coreyjay
Corey
I agree there is plenty of land and capital growth is not going to be the strongest case for melton, but if you are trying to get some property that is almost +cash flow and is unlikely to go down in value due to its already one of the cheapest areas then it make sence . small deposit little money in after rent and possible growth. Not a bad option if you ask me.
Or you could go my a mansion in toorak put half a million down as a deposit pay a couple of thousand a month on top of the rent just to meet the payment , in return over a long period if you can afford to keep the property make really good capital gains.Not haveing a dig , I just belive that you wouldnt go wrong if you invested in melton.
Cheers Rick
Monopoly, my favourite game
It depends on why your buying.
If it is for investment, personally I would not touch it. Firstly you will find that the capital growth will be poor and I bet the return will still only come in at about 4.5% if your luckly. For between?$250-$300 you can still purchase an apartment in St Kilda or even Elwood that will provide beter growth and a steadier returnNigel Kibel
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4.5% return that would be bad in that area.
My mate just bought a property there for 130k
and is getting $190 a week rent good clean brick home.Thats 7.6% returns.Cheers Rick
Monopoly, my favourite game
thanx everyone , might give the old melton a miss for now ,
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