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I will be moving to melbourne with my partner, and she will be a pharmacist end of this year, I will have to make sure she got the job, becuse for me, i probably will start my own business in melbourne. I dont want both of us no income at the beginning.
my idea business probably will be a franchise food business or may be start my own fish and chips shop. still dont know yet…
my friend told me move to clayton (which i finish my study back in 5 years ago) i like clayton but the house is gone up too much and cant affort it..and the price is about 450k for 3/1 town house.. dont think will double up in 5 years..i would rather invest in between 300-400k as still have room to increase.
dandenong is still pretty reasonble, is a second largest city in melbourne right?? but not sure about demographic area.
Melton is pretty cheap…200k- 300k can get a house and land package. but the surronding area seem bit far.. and too far to city.
i might afraid that after first home grant finish end of this year..the property will start dropping…thats why the safer bet is between 300k house.
unless Australian dollar devalue again then oversea buyer have money to buy property in aus.
thats my though.
I prefer not too far to city area, my friends staying in carnegie and mostly will go out for dinner every weekend
units4me wrote:Cargill wrote:You say you would prefer the south or southeast of Melbourne. Can you say why? Virtually all of the resources of the city are north+west of the Yarra River – commerce, entertainment, transport, hospitals, education, shopping, arts, etc – very few of these are out south or southeast. There isn't really a commercial hub out there (Frankston, Ringwood, Dandenong don't really cut it). Cargill, you need to leave the west one day and have a look over in the East. You will then realise why the equivalent house in the east costs twice as much as in the West. Supply and demand is what drives up prices, and the demand is far higher in the East. People are not stupid, they vote with their feet and can see value in a better area, even if it costs a lot more. BTW, I can't imagine which resources you are referring to.
I havent really been to another side of Melbourne, but what i heard from my friends, there is too much industrial over there, and is pretty polluted. The market right now is pretty shaky, if without first home grant, i cant imagine how is the property market react.
How is economy in melbourne ? is that really bad??? I am in perth, but i cant feel is in recession, every one here still spending but may be not wasting anymore, only spend what they want to buy : P
so do you think Reservior good? compare to west heidelberg…I am still finding the property about 300-350k range and preferably house or unit (not apartment) as i think it will hole the value even market crash or recession.
and i aslo believe with those range of price, it is achievalbe to get double in 7 -10 years. (as you see lots of houses now is about 500k) inner city might up to 700k-1M now…
for the houses..if i buy something 500k today let say 3 beds room….it is pretty hard to get 1M in 7 years. unless they double up the salary as well….or new migrant.
I would suggest you that dont sell your property, if all of your property is positive cash or litter out of pocket money (unless your property hits very high value like 3 beds room (approx 600-700k) then is okey.
like one of my friend who bought a very big house in clayton and nice area fro 350k.(approx 5/2) .many years ago..now they sold for 800k last year.
I dont believe that property will up to 1.6M in 7 years as the afforbility so it is good time to sell.
imugli wrote:Grew up there actually…It's predominantly an old commission area.
The area north of southern rd, between the creek and waterdale road was the olympic village for the 56 games. Unfortunately now, it's a loooooong way from it's former glory…
If I were you I'd be sticking to the area bound by bell street, southern rd / murray rd, oriel rd and Liberty Parade.
Check out the other side of Bell Street, in what is now Ivanhoe, to see whats being done there. It may take a few years, but I wouldn't be surprised if it happens in W. Heidelberg, starting with that pocket. There is a fairly high sudanese refugee population in the area as of late though…
They're talking about changing Bellfield to Ivanhoe, so that will bump prices up there and force people the other side of bell street. If you can afford bellfield I'd be looking there… Not quite as dodgy as w. Heidelberg and with better potential IMO. Close to the hospital you may be able to rent it to a couple of nurses or something… Check out the areas bound by Banksia street, waterdale road, bell street and Liberty Parade.
Good luck!
There is nothing much for sale in Bellfield
the area i am looking at is 7 SOUTH CRESCENT. have you been that area? basically is just for student accomdation..i am not sure how is LaTrobe university, and i am located in perth thats why i cant actualy inpect the house by myself..
the reason i choose student accomdation is for me to generate more cash flow. if i dont like the house, i can demolish the house and built two town house if is possible as the Land is approx 650sqm.
how about Reservoir area? any good?
any area that is about 300k-350k range house and within 15km to CBD?? as i dont have much capital to invest and dont want to pay too much nagative gear property
good idea
Thank you for your advise
may be i am start learning how to invest in share market first… learn from expert
as i believe the share market is about a good time to invest as the market is pretty low now : )
try to learn as many as I can
for the houses..
