Been contemplating in outer Melbourne for another investment property.
I simply cannot afford inner Melbourne.
Any suggestions for which suburbs may do O’K………
Thinking of Wyndham Vale, Deer Park, Langwarrin, Frankston and Berwick.
I think Deer Park is a good thing.
It is just off the ring road, soon to have bypass in place and is slowly but surely improving.
Houses in Deer Park have come down but still do not provide a good yield so short term I dont think tis a good thing.[cigar][cigar][cigar][cigar]
I’ve been told Truganina is good as well as places that will benefit from the Eastlink including Ringwood, Ringwood North and Heathmont. Heidelberg Heights is cheap, surrounded by nice suburbs like Ivanhoe and Heidelberg and is only 15km from the CBD. It is also tipped to be a good longer term option. Narre Warren in the SE as well.
Hmmm was told about Truganina as well…….
Where about’s is it located?
cheers
A good place to look is at suburbs along/near the new Eastlink Freeway extension down to Frankston.
Frankston has been mentioned a fair amount lately on this forum, but there are several more suburbs further north that previously were too far from the city, and not near freeways that soon will be. they are still affordable,but the commute time will drop, so they are becoming attractive. eg; Mitcham, Nunawading, Ringwood or further south to Keysborough.
They may have already started to ‘go’ but have a look. Don’t know about rent returns – could be ugly.
Cheers,
Marc.
[email protected]“we get sent lemons; it’s up to us to make lemonade”
Hi Dutchie,
Don’t know if your looking for positively geared one or just Capital gains…
Pakenham would also be an interesting one. It’s on the other side of Berwick and Narre Warren, just two suburbs further away from the city. Got a lot of promising things that seem to be happening. Its the next empty space that goes out that way.
There is also a new Pakenham bypass going through that will reduce congestion in area. Worth a look, but I don’t think you’ll find much +CF.
Kelly
Thanks everyone for your great feedback……
I know of Pakenham but it really is currently going through a huge property restructure…………I believe currentl 5 new estates being built.
For me its not about +CF.
I currently have already 3 rentals and all going well.I’m now moving into my next phase. Buy land, build on it and sell it quickly.Aiming to do around 3 of these a year……..hence looking at the west currently……..
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