Hi
I am looking to buy a properties both for investment and to live in Zone 1 in the East and South east suburbs
The reasons I am looking to buy and zeroed in Carnegie are and some of the due diligence I have done are:
1) Good suburb to buy both as investment property (NOT student accommodation) and self occupied
2) Good rental demand as walking to schools and Monash university Caulfied campus
3) Consistent capital growth of an average more than 10% in the last ten years (ref domain.com.au)
4) Surrounded by premium suburbs like Caulfield, Malvern East, Glen Iris, Malvern, McKinnon, which has grown in Value
5) Only 11Km from the City .Easy Access to the city via princess highway, St kilda road. Walking to train station, Tram at door step and Bus to City or to Chadstone. Also Short drive to the st kilda beach. Access to Monash Freeway from Warrigal road or Burke Road
6) Walking to vibrant koornang shopping district with cafes and eating places. 5 min drive to Chadstone shopping mall. Walking to pharmacies, Safeway
7) Have swimming pools, library, parks
Suggested by various Propperty Magazines and real estate professional (known personally to me). Also suggested by one of the buyers agent in one their seminar
9) Spring season is onAbove are the reasons I am looking to buy here.
Cheers
I love Carnegie and think it's an absolute gem of an area and if you can find a property within your budget is definitely worth going for. We've found a HEAP of competition for places in that area though so finding a bargain is very hard although we're seeing a slowdown of some sorts with auctions seeing some properties passed in (although this isn't for lack of demand but rather sellers who want too much).
Another aspect of Carnegie is the average family wage is higher than the Melbourne median as younger couples and families with dual incomes are moving into the area and that will also push up prices as they have more to spend than the traditional older demographic the suburb currently has.
Good luck with your search and if you need any help, we run seminars that you might find interesting in the areas of finding outperforming property and investment (just check our website).
Suggested by various Propperty Magazines and real estate professional (known personally to me). Also suggested by one of the buyers agent in one their seminar
You must be logged in to reply to this topic. If you don't have an account, you can register here.
