Hi,
Did anyone happen to catch the 1 day seminar in Melbourne last Saturday (20th April)
John Lindeman was going to release 3 boom suburbs in the Melbourne area which I am interested to hear aboutI’m looking to do a development project knocking down and rebuilding 4 townhouses on and would like to hear peoples thoughts on which areas would give the best returns. My research is pointing me to Hume and Moreland council’s, my budget to purchase a property is 300-450k depending on which suburb and I’m looking for 700+sq land size
Any feedback or help would be much appreciated.
Thanks
ShannonShannon
At that price point some suburbs that come to mind are Lalor,Thomastown, Albion/Sunshine, Epping, Croydon. Have a look at these.
Good luck!
Oscar
I didn't know you could put the words boom and Melbourne in the same sentence these days.
Laverton?
The next boom (only a few named, you have to buy his report for $180 if you want the lot. Let me know if you want to go halves) according to John Lindeman from the seminar at the convention centre last Saturday included:-
Mt Martha
Werribee Sth
Broadmeadows
Dallas
Meadow Heights
Rental shortages, influx of migrants were reasons for the northern and Werribee
Cheers
Tracey was laverton on the list?
No, but they were the only ones he was willing to share outside of his report you have to purchase.
I am relucatant to spend the $180 on a report that will probably reveal a lot of suburbs you can find if you google search something like 'next Melbourne boom suburbs' and find access to a load of reports from industry people.
I agree. Google is free and invaluable with information. $180 is a bit steep.
Odd choice of suburbs. Dealing with tenants for the last 3 on that list would be a challenge.
Oscar
Not necessarily. Have had an investment in Broadmeadows (Jacana) for 13 years now, and in that time only had two different tenants in there and no real issues from them.
The area and surrounding suburbs had some nice growth 3-5 years ago, but that halted much like the rest of Melbourne.
Cheers
Tom
Fair enough. Must be me – i cringe when i need to go to that area or even when i drive through it!
You're right the area went nuts there for a while. Prices have come back a fair bit. I still think there are better areas if you are just buying and holding, especially in this low growth environment.
Cheers Oscar
Hi,
According to Property Observer, 5 suburbs in Melbourne record as offering high economic potential for future growth:
1. Thornbury
Over the last 22 years, Thornbury saw an impressive growth of 21% per annum. The average median price of houses is now around $432,000, so the property market is very appealing to investors and homebuyers.
2. Spotswood/Newport
Over the last two decades, Spotswood and Newport have shown a steady growth of 14% per annum. Apartments are still available below the $535,000 average price.
3. Box Hill
The median price for units and apartments is quite affordable at $467K. Box Hill is a major commercial centre and transport hub with many amenities.
4. South Yarra
Prices have fallen considerably in South Yarra, making it a leading destination for investors and homebuyers. One-bedroom apartments can be bought well under the median price of $620,000, making it a great purchase for anybody who wants to live in a highly desirable location.
5. Frankston
Frankston offers highly affordable prices, starting from $350,000 for houses and $270,000 for units. This suburb is close to the beach, and the development of a local marina will inject capital and add value to the area.
Cheers,
Emil
You must be logged in to reply to this topic. If you don't have an account, you can register here.
