Hi guys…I am located in Perth and planning to move over to melbourne next year, is any guy suggest me which area is good for living? as My budget only 300k and prefer house (because I had bought my first investment property in Perth cannin vale)
I actually like clayton area but the price is gone up like crazy for the past 5 years : (
and another area i am looking at is Frankston, but what i heard is not a good place to live.
I would prefer south or south east area : )
Terrance
I like being near the water – so would choose Frankston over Clayton. Their are some housing spots in Frankston
we have investments in truganina/tarneit which is south west. you can see the city from the properties. its a great area, heaps of shopping, schools, reserves, new houses.. fell in love with it
we live in Upwey, foothills of Dandenongs and just love the area, big blocks, lots of trees.
There is a train line directly to the city (takes one hour).
House prices are affordable.Keilor Downs/Taylors Lakes are about 14km from the city. Lots schools, shops and only takes about 15-20 min to get into the city via the tulla. Very low crime rates in the area and houses re relatively new. However for 300K you're probably more likely to get a large unit instead a house. Closer to the 350K mark you'll e able to get a nice house with about 3/4 bedrooms, 2/3 baths and enough space to park 5/6 cars in the driveway.
You say you would prefer the south or southeast of Melbourne. Can you say why? Virtually all of the resources of the city are north+west of the Yarra River – commerce, entertainment, transport, hospitals, education, shopping, arts, etc – very few of these are out south or southeast. There isn't really a commercial hub out there (Frankston, Ringwood, Dandenong don't really cut it).
We live in the Inner Northwest and we really like it (Ascot Vale / Moonee Ponds), but you will obviously not find anything for $300K around here, and you will need to go further out – either towards the Airport / Keilor, or towards Footscray. And remember – the further out you are, the more you will pay for transport and commuting (like $100 taxi fares to the Airport).
Good luck with it – it is a much more dynamic city than Perth.
Hi, Terrance
Your criteria of:
A budget of $300K to purchase a house in SE Melbourne will probably allow you to settle in Pakenham (SE Melbourne) or Frankston (Sth Melbourne).
Frankston is a pretty nice suburb, and really depends on which part of the suburb you are in. The sburb itself does have some commercial activities going on, but cannot be compared to some of the inner city suburbs.
However, it really depends on your purpose of moving over to Melbourne. You have given any reader limited information to work with. Personally, I found it hard to even offer you any decent suggestion.
I live in Oakleigh, a middle ring suburb 14 km SE from the CBD.
Regards
Daniel Leesienna1 wrote:we have investments in truganina/tarneit which is south west. you can see the city from the properties. its a great area, heaps of shopping, schools, reserves, new houses.. fell in love with itHi there, what kinda price range would this properties? be im looking at my first investment prop. and how far from the CDB?
many thanks,
Fergs
Cargill wrote:You say you would prefer the south or southeast of Melbourne. Can you say why? Virtually all of the resources of the city are north+west of the Yarra River – commerce, entertainment, transport, hospitals, education, shopping, arts, etc – very few of these are out south or southeast. There isn't really a commercial hub out there (Frankston, Ringwood, Dandenong don't really cut it).
Cargill, you need to leave the west one day and have a look over in the East. You will then realise why the equivalent house in the east costs twice as much as in the West. Supply and demand is what drives up prices, and the demand is far higher in the East. People are not stupid, they vote with their feet and can see value in a better area, even if it costs a lot more. BTW, I can't imagine which resources you are referring to.
units4me wrote:Cargill wrote:You say you would prefer the south or southeast of Melbourne. Can you say why? Virtually all of the resources of the city are north+west of the Yarra River – commerce, entertainment, transport, hospitals, education, shopping, arts, etc – very few of these are out south or southeast. There isn't really a commercial hub out there (Frankston, Ringwood, Dandenong don't really cut it). Cargill, you need to leave the west one day and have a look over in the East. You will then realise why the equivalent house in the east costs twice as much as in the West. Supply and demand is what drives up prices, and the demand is far higher in the East. People are not stupid, they vote with their feet and can see value in a better area, even if it costs a lot more. BTW, I can't imagine which resources you are referring to.
I havent really been to another side of Melbourne, but what i heard from my friends, there is too much industrial over there, and is pretty polluted. The market right now is pretty shaky, if without first home grant, i cant imagine how is the property market react.
How is economy in melbourne ? is that really bad??? I am in perth, but i cant feel is in recession, every one here still spending but may be not wasting anymore, only spend what they want to buy : P
MrKudh80,
You're certainly correct in suggesting that the west has industrial segments. In saying that though it would be wise to check the inner west (5-7km from the CBD) as the nature and feel of that market is rather different to the middle and outer western areas which are more industrial and tend to be less developed as described by your friends.
The inner west is going through an interesting period of gentrification as trendy professionals move into suburbs like Seddon, Yarraville, Footscray etc..after visiting these areas you can actually see the renewal and development taking place as governments and local councils are increasing their capital expenditure in these suburbs (eg state governments recent $1b plan to gentrify Footscray which has commenced).
I also agree with the some of units4me's comments in sugguesting that the eastern suburbs houses are generally better developed and situated on nicer streetscapes then the west. For this reason you pay a premium for realestate in the inner east.
It should also be noted that the inner east is currently undergoing a massive correction due to the inflated house prices. In some suburbs hundreds of thousands of dollars have been wiped off during this recessionary period. The inner west on the other hand has been alot more stable and positive as the area is quite undervalued.
In short the inner east is quite a mature market. The inner west is the future.
Best of luck anyhow and make sure you do plenty of research in the area you're looking to buy in.
Cheers
units4me wrote:Cargill wrote:You say you would prefer the south or southeast of Melbourne. Can you say why? Virtually all of the resources of the city are north+west of the Yarra River – commerce, entertainment, transport, hospitals, education, shopping, arts, etc – very few of these are out south or southeast. There isn't really a commercial hub out there (Frankston, Ringwood, Dandenong don't really cut it). Cargill, you need to leave the west one day and have a look over in the East. You will then realise why the equivalent house in the east costs twice as much as in the West. Supply and demand is what drives up prices, and the demand is far higher in the East. People are not stupid, they vote with their feet and can see value in a better area, even if it costs a lot more. BTW, I can't imagine which resources you are referring to.
The east has always been more expensive than suburbs in the west. Its been like that forever but I don't see the same room for improvement in the East as there is in the West. Footscray, Yarraville, Seddon and the like are going through massive gentrification and the growth in these suburbs will be well above that of the Melbourne average in the years to come. There are still many derilict industrial sites in the West that are constantly being re-zoned as residential areas hence further increasing the price of property in the area. I think a wise investment would be in one of the areas above since they have historically been industrial suburbs that are being turned into shopping, transport and residential hubs.
As for Moonee Ponds and Ascot Vale and Essendon as well, they have been affluent areas for quite some time now. There are many $1 million plus properties in those areas and the average price is well above the average for the West.
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