Hello
As we live interstate its hard to keep up with Melbourne house prices.
We were looking at buying into the Heidelberg area which I am originally from.
I have noticed particularly that Heidelberg Heights (originally known as West Heidelberg) prices are unbelievable.
What wed like to know what has driven the prices up so much?
I know it is only 10klm from the city but have noticed the prices going up and up rapidly.
The part that is still known as West Heidelberg is not as pricey as Heidelberg Heights.
Would appreciate some advice on why the prices differ so much it must be of course the location.
I want to buy into Heidelberg Heights but will have to do a joint venture as we have just bought a large family home
Regards
Reno QueenThe house I was interested in has had an offer of $600,000. This price is amazing to me. A small brick two bedroom place.
I think we have been priced out of the Melb market and will just have to buy in Qld it seems
Reno Queen wrote:The house I was interested in has had an offer of $600,000. This price is amazing to me. A small brick two bedroom place.I think we have been priced out of the Melb market and will just have to buy in Qld it seems
Some of the prices these days are indeed exorbitant. Up the street from where my parents live in Templestowe was a renovated 3 bedroom unit that sold a couple of weeks ago for $810K. Years ago $600K would have been considered overpaying even for a house (with around 700sqm land) on this same street.
Prices are probably beyond your budget in anything around 10km from the city in the North, and anything within 20km in the East, probably same in the South. Prices in the West are on a steady rise as well.
There are cheap houses around. In fact there's plenty of them, but one appreciates that not everybody wants to live in those areas. It might make sense to buy an inexpensive, nearly new house at the fringes, and in a new estate, but what if development of infrastructure halts and leaves you in a lurch?
Have you considered a smaller, older unit in an established suburb that's further out than your stipulated 10km radius?
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