Hi everyone, so glad to come into this conversation (after a lengthy absence) as i've seen an apartment in Bundoora that really caught my attention for the following reasons:

reasonably cheap (about $250-260K), secure parking space, low maintenance fees, good rent ($320 p/w) and accessible to both students non-student market; tram at door (straight to Melbourne CBD) and extensive shopping facilities very close by. 

That the unit comes fully furnished/fully equipped (ideal for students!) is also attractive because of the additional depreciation items. Although the building is 11 years old, I have just seen newer units that are smaller and very poorly built, yet more expensive but no better rents. Were I to buy it at $240K – if the offer were accepted – I would be getting a good discount. Or would I ??

On the face of it, an affordable investment. HOWEVER! although the R/E agents assure me Bundoora is a suburb "on the rise", the unit in question (and others, I've noticed) has been on the market for some time… My research reveals a higher than ideal vacancy rate above 5-6 % in Bundoora, but information is conflicting and the agent assures me the vacancy in that building is closer to 1-2%. Coincidence? What does it all mean?? Of course one cannot rely on what the agents say, yet a lot of it makes sense: development is evident, shopping centres are being built nearby, transport is good with Plenty Road a direct link to the airport and other major areas.

My daughter has just rented a unit in the building (she'll be a student at La Trobe) so I can vouch for all of the above, and NO, I would not buy it so she can rent it. If I did, she would do so via the agent – this is a business investment, after all. 

Any thoughts on whether this would a good proposition would be welcome.

Also, anyone with information about the state of investments in Bundoora, please let me know.

Cheers,