Hi all,
I am new to this forum and hope I post my question in the right section
I am planing to buy an apartment (2-bedrooms). I will live there for 2-3 years and then would consider to rent it out. I have been told both Southbank and Dockland are good place. I have checked all 2-bedrooms apartments on realestate. It seems for the same price, the apartments in Dockland are newer and better – the apartments in Southbank are more expensive. However, other also told me apartments in Southbank have better yield if rent out, because Southbank is more convenience than Dockland, e.g. transportation and well-developed. Normally, apartments won't provide as good capital gain as houses.
I am just quite confused. I have tried to check on the web to see the apartment price trend in both areas, but it is really hard. If anyone is familiar with these two areas, could you please provide me with some info?
Thank you in advance
Regards,
Fei
Hi,
I have lived in both areas. Southbank is more convenient than docklands. True docklands is a newer neighbourhood.
Regardign rent, i expect southbank to perform slightrly better than the equivalent in docklands. Regarding capital growth, both areas will be about the same.
The golden rule in realestate investing is LOCATION, LOCATION, LOCATION!!! Yes, you probably have heard it many times before, but it cant be overstated.
If its capital growth and rent you are after, then i would go for southbank as it offers a better location than docklands.
Docklands offer better views ( water views), and priobably appeals to a wider crowd than southbank.
Overall, i think there are significant new projects coming online in southbank and this extra supply should ease prices so i would go for southbank over docklands.
In the last 5 yrs, southbank has outperformed docklands and even houses to some degree. Why? simply its location. Southbank is seen as 'the place to be' in melbourne.
I would buy 2 bedroom, 2 bathroom 1 car park apartment in southbank and hold it for 6-9 yrs before selling it. I think the capital gains will be significant ater 6-9 yrs.
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