VIC $1M in Sunshine? Phew or Miss?

Attended an auction today at Sunshine, and it went nuts. Around 10 bidders i guess?.... Started from $700k and quickly gone $950k.

I mean... i could have joined the bidding...but i didn't cuz, first am fairly new to western areas, and not too familiar with the market and i only inspected it 30 mins before the auction, second... not really my type of house. I mean, it's cosmetically covered in very average standard and it's brick veneer and most annoyingly... 2.4m ceiling.... with fans installed, i could easily touch them walking past... Nothing too impressive..... except the nicely shaped 650sqm land.... located at the best pocket of Sunshine???...

So have i missed a deal or thank goodness i didn't get it? I know Sunshine is going to be hot in coming decades but....i am not sure if i wanna spend $1m on a house like that in Sunshine...? But then it kinda feels like it could be the next Box Hill, but there are some differences.... BH has better schools, better access and surrounded by eastern suburbs... and has much higher yields too. I think the rent for this one is probably like $450 - $500 max? It seems like people could go nuts just to secure a spot on a branded location....

 

@ATANG what the address ?

 

I think he is talking about 10 Matthews st which was sold for $960k.
Two other houses went private exchange for $1.16m and $1.25m.

In the last 12 months, the following properties in sunshine were sold more than 1 mill.


3 Hertford Road, Sunshine, Vic 3020 - Property Details

Property Report for 362 Hampshire Crescent, Sunshine VIC 3020

Property Report for 3 Neil Street, Sunshine VIC 3020

Property Report for 14 George Street, Sunshine VIC 3020

Property Report for 77-79 Hampshire Road, Sunshine VIC 3020

 

can't imagine Sunshine reaching the 1 mil mark.. wanted to get into Sunshine 2 years ago when it was going for 500s..

 

It's in the best pocket in Melbourne's best suburb...

 

sunshine is not even worth of 800k. If I had 1 million, I will invest in eastern suburb.

 

I remember buying in Sunshine 10 years ago and people looked at me like I was crazy. Sure it's rough in places but proximity to the city won out. I was stressing coz I had to spend $200k for house on 580m2 block.

 

Yep that's right it's rough in places - but Matthews Hill isn't one of those places a solid quarter of the locality is owned by the one family ffs!

 

True. Looking at Sunshine west vs north vs central and there are some large variances in price. I don't know anything about that one family though assuming they've held properties there a while.

I remember when the whole East/West link development was a hot topic around 2010-2012 There were plenty of opportunities for cheap buys. 20/20 vision in hindsight

 

Like which suburb?

 

Doveton

 

South East
Ice town lol

 

Tbh, after a few days of research, I am not surprise if sunshine median hit $1M in the next few years... I mean, if reservoir, Clayton, etc can hit $1M, no reason why Sunshine can't...

Does anyone know where that airport rail talk is at? Is it likely to fall thru sunshine? Or is it just a dream talk?

 

There was a study done by Public Transport Victoria, and it was shortlisted to 4 routes.
The assessment shows that Sunshine/Albion route is the most effective.

See page 8
https://static.ptv.vic.gov.au/sitea...Airport-Rail-Link-Study-Overview-brochure.pdf

 

Nah no way, I thought drugs and crime only existed in the west

 

HAHAH what are you smoking son?

 

Ice, clearly

 

happens everywhere.

Real estate director in hot water over renting 21 properties to drug trafficker

 

Different economic factors in each.

Clayton:

Pluses:

- Monash is booming in Asia, top notch uni outside Melb Uni in Melbourne.
- Station is now or currently being constructed to a "Sky Rail" and possibly duplication down the track (pardon the pun).
- Monash Hospital is top notch as well, albeit a bit long in the tooth (really needs an upgrade).
- Quite a few offices nearby so kind of Corporate Headquarters.

The town admittedly is "ugly" in my books. A lot of my friends joke "It's a taste of the West in the East" meaning its like any other. IMHO it's still a "meh" sort of town, I'd live in it if I needed but not for $1mil+. But gee, it's take out shops and food generally sucks, don't know why. The Korean ones are pathetic to say the least.

Minuses:

- No secondary colleges available.
- Ugly Town Centre and honestly, houses. It's completely flat, no city skylines or mountain views.
- Still looks somewhat grimy to me but a few notches above places like Doveton, Heidelberg West. (See agent renting to drug trafficker a few posts above)

I once considered Clayton as a PPOR before I dumped $ into Chadstone, the houses were newer but balked once I considered schooling. There are no secondary colleges if you discount John Monash (selective, think MacRobs/Melb High) and I thought it would be an issue down the track.

Probably more down the development track vs the other two (Rezza and Sunshine).

Reservoir:

- Shift up North mainly by younger folks who were prices out of the East. Here and the West i guess. Main attraction
- Traffic is atrocious, arguably one of the worst in Melbourne.
- Still somewhat of a "Deep South" Hickey type down if you bother to drive through it. It was my fav at one stage along with Heidelberg West/Heights but after careful thought went NAHHH..
- Has La Trobe and RMIT sort of nearby but those aren't pretigious as Monash.

Sunshine:

- As with all 3, aren't exactly Melbourne's prettiest subrubs but I think on par with Clayton with a few caveats.
- Sunshine College is getting a massive upgrade and one of the first to adopt the Finnish schooling system. Having said that Vic Uni (VUT) is really down the totem pole.
- Has a hospital (therefore white collar jobs) if you need to rent it out but unfortunately thats more St. Albans really than Sunshine.
- Jobs hub in future, earmarked by government for development. Wouldn't be surprised if the train station also gets turned into a hub.
- Airport Link possibly on cards BUT I see this more of a negative, it'll turn Sunshine into a thoroughfare.
- There is actually only a few streets with Californian Bungalows that are really nice and green, the rest is flat and boring to be honest. Not sure of what the hype is.

 

Different economic factors in each.

Clayton:

Pluses:

- Monash is booming in Asia, top notch uni outside Melb Uni in Melbourne.
- Station is now or currently being constructed to a "Sky Rail" and possibly duplication down the track (pardon the pun).
- Monash Hospital is top notch as well, albeit a bit long in the tooth (really needs an upgrade).
- Quite a few offices nearby so kind of Corporate Headquarters.

The town admittedly is "ugly" in my books. A lot of my friends joke "It's a taste of the West in the East" meaning its like any other. IMHO it's still a "meh" sort of town, I'd live in it if I needed but not for $1mil+. But gee, it's take out shops and food generally sucks, don't know why. The Korean ones are pathetic to say the least.

Minuses:

- No secondary colleges available.
- Ugly Town Centre and honestly, houses. It's completely flat, no city skylines or mountain views.
- Still looks somewhat grimy to me but a few notches above places like Doveton, Heidelberg West. (See agent renting to drug trafficker a few posts above)

I once considered Clayton as a PPOR before I dumped $ into Chadstone, the houses were newer but balked once I considered schooling. There are no secondary colleges if you discount John Monash (selective, think MacRobs/Melb High) and I thought it would be an issue down the track.

Probably more down the development track vs the other two (Rezza and Sunshine).

Reservoir:

- Shift up North mainly by younger folks who were prices out of the East. Here and the West i guess. Main attraction
- Traffic is atrocious, arguably one of the worst in Melbourne.
- Still somewhat of a "Deep South" Hickey type down if you bother to drive through it. It was my fav at one stage along with Heidelberg West/Heights but after careful thought went NAHHH..
- Has La Trobe and RMIT sort of nearby but those aren't pretigious as Monash.

Sunshine:

- As with all 3, aren't exactly Melbourne's prettiest subrubs but I think on par with Clayton with a few caveats.
- Sunshine College is getting a massive upgrade and one of the first to adopt the Finnish schooling system. Having said that Vic Uni (VUT) is really down the totem pole.
- Has a hospital (therefore white collar jobs) if you need to rent it out but unfortunately thats more St. Albans really than Sunshine.
- Jobs hub in future, earmarked by government for development. Wouldn't be surprised if the train station also gets turned into a hub.
- Airport Link possibly on cards BUT I see this more of a negative, it'll turn Sunshine into a thoroughfare.
- There is actually only a few streets with Californian Bungalows that are really nice and green, the rest is flat and boring to be honest. Not sure of what the hype is.