All Topics / General Property / Bayside Melbourne

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  • Profile photo of re_megalere_megale
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    @re_megale
    Join Date: 2005
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    July 21, 2007 - 6:12 am

    Anyone have any knowledge or oponions on bayside Melbourne.  I've spent the last month looking at properties from Edithvale to Seaford all withing 1km from the beach and properties are getting snapped up before there is time to do the feasability analysis on them.  TThey are close to nice beaches walking distance to the train and shortdrive to the new Eastlink.  On paper the area seems like a good investment opportunity

    These properties are all reasonably priced and beleive that these area are set to take of if they haven't already.

    Reno

    Profile photo of Scarecrow7Scarecrow7
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    @scarecrow7
    Join Date: 2003
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    July 22, 2007 - 12:13 pm

    Hi Reno,

    Since beginning of this year it's really taken off, stories that locals and interstate investors as far as WA are buying up on the seemingly no brainer that these areas are undervalued considering how close they are to water, with Frankston development boom and Eastlink to come.

    So reinforcing your perception that it's really heated, the good properties are snapped as soon as they are listed and hard to find anything decent for less than $350K, but stick to you criteria and you'll do fine…I missed a really top opportunity(a street wedged b/w nepean hwy and rail line in Seaford) by procrastinating 1 day too long and would you believe got trumped by an offer that was 20% HIGHER! No regrets, I got onto some other top opportunities in inner city Melbourne after that.

    Still keeping an eye on Seaford and Carrum…

    Profile photo of re_megalere_megale
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    @re_megale
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    August 12, 2007 - 5:24 am

    Seaford was even mentioned in ths article in The Age last week.

    http://www.domain.com.au/Public/Article.aspx?id=1186530404598&index=NationalIndex&headline=Bayside%20beauties%20on%20a%20budget

    Profile photo of TracyDTracyD
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    @tracyd
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    August 14, 2007 - 10:27 am

    Hey Reno,
    there has been a previous post on Frankston you can look at if you search it.
    The general consensis is that the properties will increase in value especially when the freeway is finished.  Rental yields are low which is keeping some investors away at the moment. Apparently what I can make out is that there will be a gradual slow climb over the coming two years and then it will increase very quickly from there upon finalisation of freeway.
    So, it depends on your cashflow and if you are happy to finance a property for now, for cap gain later?<br /:)” title=”>:)” class=”bbcode_smiley” /> Tracy

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