Anyone else making money in the Inner Melbourne suburb of Braybrook? Just for those that don't know Braybrook is in Melbourne's Inner West (10-12km) of CBD. Its the suburb next to West Footscray.
Properties have incresed value from around 220K to around 320K in the last 6 months on the average 600-700sqm house and land lots (mostly ex-housing comission houses).
Since the location is easily accessible (Ballarat Road, South Roads and Footscray Road/ Barkly Sts) and land plots are excellent for subdivisions is anyone looking there for investment sub divisions?
Also a new shopping centre and Retail transit site "Central West Shopping Centre" (also NAB offices), has added to the fuel to propel house prices in the vicinity.
Whats the general outlook besides my point of view?
It isnt as effected by the Mortage Belt Blues, becaue its mostly established houses that came from a extremely low cost base (80K was the average hosue price back 5-10 years ago).
I know I have doubled my money in the last year from renovating my place and prices going up?
Adam
Well I believe West and South West are bound to go up even moresooner than later due to the rippling effect hitting melbourne's suburbs. People realise they cant live near the city and move to the next suburb. That suburb grows like crazy and they have to move to the next suburb then that suburb goes crazy and people have to move further out and so on…..No doubt you will make a lot of money in the next 2-3 years if you buy now.
My 2cents thought.
Ciao
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