VIC $1M in Sunshine? Phew or Miss?

I would think Altona has the flow on effect from Williamstown?

 

if u catch north road, u can reach it. u have got cheltenham beach near 10-15 min drive depends up traffic on warrigal road.

 

On a Saturday morning traffic.

 

What I'm really curious and it would be interesting to see is how Melbourne's suburbs pan out. Where I live in Chadstone, prices seem to have stopped growing at the 1.1-1.2mil mark. I wonder if prices have dropped in suburbs like Balwyn, Doncaster, Glenny etc?

 

Suburb like Doncaster all reach its peaks a property in Doncaster that was 700-800kish couple years went up 1.4-1.5 mil during the boom last year but then after that similar properties sold for 1.2 -1.3mil. As it gets more expensive ppl would rather buy in Kew then Doncaster. Like Preston and thornbury being more and more exp it pushed reservoir higher but I dun think it will reach a million dollars probably 800-900kish

 

Based on this and I've always thought about it this way anyway is that suburbs that were undervalued will "catch up" before prices overall will flatten out, probably a throwback to the pre boom periods where it may take years for a $100K capital growth to be achieved.

For example I genuinely think Chadstone where I lived has capped off at 1.1-1.2, at best 1.3mil average. Today property is kept afloat maybe but not so well off immigrants investing $ into newer outer estates and cheaper housing from FHOs.

 

Yeah that is very true that why u see in the east Blackburn and Mitcham wasn't that expensive some time back have some relos who purchased it in the 600-700kish. One my friend bought Ringwood only 300-400k house years ago then now is the millions. Same as the west when the suburbs get more exp ones that didn't move that much started to move like Pt cook as ppl move in

 

Hahah Ringwood boomed because of that EastLink, shopping centre rejuvation/extension and more $ being dumped by the government. Ringwood's current residents are probably mostly spill overs from people who couldn't afford Box Hill/Blackburn/Mitcham. To be frank though, Eastern suburbs give you that family vibe.

It wasn't all that, still isn't but it's funny how a gloss of paint (i.e. a bit of infra being put in) does wonders to a suburb.

 

The east link sc def gave it that push. I went there they building apartments now around the shopping centre all over the streets are all good now - very diff from years ago when I went here

U shud give Reza or St. Albans a go man.

 

Nar man, missed the boat, better off analysing data on PC and bantering!

I got cold feet on Rezza, just didnt add up once I zoomed in on figures. Same goes for HH/HW. St. Albans yeh nah.

 

@ willsiter @ melbournian, buy is st alban mate near alfrieda street by paying 1.6 million. After 5 years, some rich vietnmaese from downtown sydney, melbourne or from vietnam might come with enormous sack of coin to buy ur property more than 2.5 million to open sewing buisness or restaurant.. St alban might be toorak of west . We never know.

 

i sokong

 

Lol Why sewing business man? Could be factory man

Nah I don't want to pay 1.6 mil in St. Albans - I already spend 2 million plus buying 500kish (just like u buying below the median) properties last year so unless the numbers work out for a good deal I am happy to watch. Actually i saw one burnt down house but is just too much work and finance. I don't want to buy at the peak million plus. 600-700kish is still ok for me in St. Albans u shud buy there u are looking for one now right

 

U beli la dun look heritage anymore

 

na mate, i dont have income to refinance another loan. melbourne looks like done and dusted for me right now.

 

We don't do this anymore. Moved onto nail shops

 

Or drug rings LOL

 

Thats soooooo 90's

 

Sometimes there are just some sales which made you think like wtf???

This one sold for $760k today, no idea why owner would be willing to let go with such a low price. According to most sold data, land price in SW already approaching $1k per sqm, this one has 1143sqm and has wide frontage.... why sold so cheap?? Was asking the agent weeks before if they willing to take offer, i would have offered much higher price tag, but they insisted to go auction.. unless there's something i am missing about the location/ house...?

73 Hilma Street, Sunshine West, Vic 3020 - Property Details

 

wtf, really whoever has bought this property has already made 300-400k profit. I am so surprised this block is sold for so cheap price. It is like winning lottery. That block is massive.

I have also realised over the time in property market, luck is also one of the major factor. One of my friend bought in cheltenham in 535 k for 610 m2. when the median house price was nearly 900k. That was really cheap. Property was in warrigal road (very busy road) but still good buy. At the moment properties in warrigal road are selling over 800-950k. He just got lucky the owners were very old people and did not have any children to help them out. Same case might be here.