Am looking to buy in Melbourne at moment. My reasons differ from everyone else.
I am wondering why you would not buy there at moment and how long till you pick up good buys again?
Does everyone keep in mind that we are going to have another resource boom in the next 2 to 3 years and that will only drive the prices higher again? Like in 2004-2007.I'm sure there's still good deals to be found in Melbourne. However, the extraordinary rise in prices over the last 12-18 months does make it a less attractive place to invest at present (because you're buying in at the peak of the cycle).
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how about land and home package at cranbroune south east,is it not a good are for IP.Has any one done research on it.Please let me hear youe views.
the last property clock that I saw was April & Melbourne was already @ 9 o’clock. There’d still be a little good buying around but the opportunities are diminishing.
Might be great in the short term. A lot of the new estates do very well as the estates fill out. On the downside Cranbourne is a lower income area with thousands of new houses being built. If all goes well you will be fine but if the market drops in Melbounre I would be comparing Cranboune to the outer Western suburbs of Sydney. If neg geared I would say no for investment.
Thanks mate.
While we are talking on Melbourne how about Brunswick??
What are your thoughts?Brunswick is only 6 km north of Melbounre CBD (I have walked it a few times – not far). Access by tram and plenty of trendy cafes..
Only downside is it is not that cheap anymore. Id buy there. But be careful – there are a lot of shoebox apartments and studios turning up there. Try to get 2 bedrooms if it is within your price range.
No1 wrote:Brunswick is only 6 km north of Melbounre CBD (I have walked it a few times – not far). Access by tram and plenty of trendy cafes.. Only downside is it is not that cheap anymore. Id buy there. But be careful – there are a lot of shoebox apartments and studios turning up there. Try to get 2 bedrooms if it is within your price range.What are your thoughts on the development in the Hoffmans Brickworks? and also with the Kilns getting done up in to 14 loft apartments per Kiln, good or Bad?
mike.12 wrote:how about land and home package at cranbroune south east,is it not a good are for IP.Has any one done research on it.Please let me hear youe views.This area has already boomed .
Have a look at the new estates being planned in the North West. Between Caroline springs and Bacchus Marsh around Melton, Wyndham.Mike .. i would tend to follow the arteries in the city.
Take a look at a broad spectrum map (Melways or streetdirectory.com.au) to get a wider perspective on the city. People tend to find comfort and demand in ease of access thoroughfares. If you think of the roads as veins or arteries allowing traffic flows to build around them, it usually corresponds to property and demands.
On this perspective I'd take Pakenham over Cranbourne for the near future. Cranbourne ends up being a low income area due to its cul-de sac limits for growth DUE TO THE TRANSPORT around it. (I know its got a freeway but thats the ONLY access through it thats easy). Its just like looking at Hampton Park. When they fix the roads it'll be great. Until then .. its a nightmare after 4pm to get into or out of. When they start looking at fixing it .. THEN prices will change. Its like Elwood and the fixed sewerage .. or Port Melbourne and the toxic dumps near the foreshore.Definite investor upsides? The deepwater port being dredged now near Hastings will require new roadways to and from it for transit. It will plump up Hastings .. but .. read the local news relating to the roadways linking the deepwater port. It will open up access to a couple of suburbs along the way (methinks officer and yes .. cranbourne) and improve prices.
Check the skyways too. Its good to use Google Earth sometimes just to get an idea of what a good district looks like from up above at 20,000 feet. Check for white spots (industrial zones) and good roadways. Its usually a good guideline.
Cheers
thankf for the info,mate
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