Hello Dear Forumites ,
What do you’all think of this suburb for investment potential ? It’s on the north end of Melbourne and was a new Urban Land Authority housing estate in the 90s . Apparently there’s a newer one now, just to the north at Craigieburn .
Cheers,
MichaelMLV
Hi Michael,
I did a due diligence for a client looking at purchasing a shopping centre in Craigieburn a couple of years ago and the area is certainly going to expand. Hume Council is planning to adjust the urban growth boundary to release a large amount of land to residential zoning around Craigieburn. The demographic for the area is very much young families with a high percentage of immigrants (who tend to have larger families), so the population is likely to increase signficantly around that region. Whether this will translate into good capital growth in Roxburgh Park I don’t know as there is likely to be an increase in both demand and supply. I hope this helps.
Kind Regards,
Cameron Perry
Finance Consultant
F.R. Perry & Associates
Level 13, 30 Collins St
Melbourne VIC 3000
Ph (03) 9662 1999
Fax (03) 9662 2044Thanks Cameron ,
Yes , Hume is expanding and the Craigieburn subdivision looks to be rather large but I’m thinking Roxborough Park prices have gone, and will continue, sideways for the time being .
I’ve been looking there.
Apparently some planned infrastructure ( Railway Station ! )has fallen through recently, not good .Regards,
Michael
MLV
P.S. …sorry , that’s Roxburgh not Roxborough
MLV
If you are looking for capital growth, then there are probably better locations for you to investigate.
Growth will be limited becuase of the old supply/demand equation, including:
1. The availability of new estates in the vicinity.
2. The demographics – basically young first home owners. This group is limited in its borrowing capacity and in fact many have overcommitted and could only afford to buy in the area because of the first home owners grant.
Many are currently struggling to keep their homes esp with rising petrol prices, the gas guzzling cars they tend to buy and the distances they have to travel
Michael Yardney
METROPOLE PROPERTIES
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FREE subscription http://www.propertyupdate.com.auRoxburg Park – I didn’t buy there when it first opened because it was Urban land authority and the next suburb on from Broadmeadows, Dallas – very low class, and I judged it would only ever stay cheap – WRONG, but the growth has gone out of it now. Craigieburn has just had a new freeway extension opened up to it from the ring road which chops 10 mins off travel time out there from Melb,
Fern
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