Hi,
I have been looking at a few areas for my first IP. The first was Frankston, then moved to Glenroy as I thought that as CG was the priority Glenroy would provide greater CG in the short term and then enable to purchase 2ndIP in Frankston. Both would be on a purchase and hold stratergy, negativly geared with capital growth.
My question is for those familiar with the Glenroy area. Do you feel that property values have been artificial increased due to the influx of developers sub-dividing blocks and building townhouses? If so is there somewhere else that you believe will better suit my stratergy. I have about $350k to utilise.
Thanks in advance
Hey kellie
i have been looking at Glenroy. Out of control! Cant get a 600sqm block for under $450k. By the time i will be ready to buy, it will be way above that again. Also rents do not match the buying price from my research. For $350 might have to step out to cambellfield or Broadmeadows, which suprisingly has done very well in CG in the last couple of years.
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