All Topics / General Property / Investing in Point Cook (Vic)

Viewing 9 posts - 1 through 9 (of 9 total)
  • Profile photo of firefox

    Hi all,

    My partner and I are currently looking at investing 300-350k in a property in Point Cook. I was wondering if anyone else out there is investing in this area and has any thoughts on it.
    Any advice would be much appreciated.

    thanks

    Robert

    Profile photo of Nigel Kibel

    Dont bother

    Firstly are you dealing with a builder of a marketing company. Either way the price may be inflated by as much as $25,000. There are also a lot of house and land packages in that area. Do you research very carefully.

    Nigel Kibel

    http://www.propertyknowhow.com.au

    Australian and New Zealand Buyers advocate
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    Profile photo of firefox

    I am dealing straight with the builder, there is plenty of land for sale with blocks starting from 120k(400sq) I am planing to bulid a house and in the future move in.. Any other recomennded areas?

    Profile photo of Nigel Kibel

    If you are looking to move in thats a life style
    move. Point cook is close to the city. Just due your research, you will soon know if you are getting value for money

    Nigel Kibel

    http://www.propertyknowhow.com.au

    Australian and New Zealand Buyers advocate
    service and seminars

    Nigel Kibel | Property Know How
    http://propertyknowhow.com.au
    Email Me | Phone Me

    We have just launched a new website join our membership today

    Profile photo of MichaelYardneyMichaelYardney
    Participant
    @michaelyardney
    Join Date: 2001
    Post Count: 616

    I agree with Nigel. Property in Point Cook may offer a great lifestyle, but currently makes a poor investment.

    I know of a number of investors who have bought proeprties there and are having real trouble leasing them.

    They have sat vacant for months despite lowering the rents.

    You could probably find a better area in which to invest.

    For example we are currently buying established 2 bedroom units in Elwood for clients for $285K -$300K. They rent out quickly at $295 -$300 per week and Residex predicts 10% growth per annum in this area.

    Michael Yardney
    METROPOLE PROPERTIES
    Author of Australia’s leading property e-magazine.
    Join over 10,000 readers each month.
    FREE subscription http://www.metropole.com.au

    Profile photo of firefox

    Thanks guys for advice.

    Cheers

    Rob

    Profile photo of gugugugu
    Member
    @gugu
    Join Date: 2005
    Post Count: 1

    I’m quite interested in this area as well. The pluses include close to city, close to beach, quickly growing population, train station, proposed shopping center and etc. Hence I think this area is currently undervalue and will has good growth in the future, what’s your thoughts?

    Profile photo of Learning GuyLearning Guy
    Member
    @learning-guy
    Join Date: 2005
    Post Count: 16

    i am about to buy one as well, in the surrounding area (seabrook) for my ppor, i don;t really think it is undervalued, what i think it is an area where i can afford with my budget, similar distance on the eastern suburb will be asking around double the price, which sounds very overvalued.

    and for rental, i think it is very hard, since there is a lot of empty houses, and whenever i go to the real estate agent over there, the rent list still the same, same house have been sitting there for about 2 month, and have been lowered the rent, still on the list. so fir + or – geared. i think it will be very hard.

    my opinion anyway.

    Profile photo of Nigel Kibel

    When you buy new its try that you also get better tax deductions however you are paying for it.

    In my view if you are going to spend $350,000 you are better off going to elwood or st kilda and buy an art deco apartment. If you want new be smark and deal with Michael Yardney from Metropole properties at least there you now waht you are paying for and you get ttrue wholesale

    Nigel Kibel

    http://www.propertyknowhow.com.au

    Australian and New Zealand Buyers advocate
    service and seminars

    Nigel Kibel | Property Know How
    http://propertyknowhow.com.au
    Email Me | Phone Me

    We have just launched a new website join our membership today

Viewing 9 posts - 1 through 9 (of 9 total)

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