VIC 600K-700K IP Suggestions in North/West Melb

Ideally would like to stick to 600K-700K but could push for 850K if ideal.

Did take a look at Mossfiel in Hoppers but the houses were extremely old/didn't look well-maintained and at inspection did seem to attract those with lower income, which makes me concerned about future tenants.

I have been eying Newport, Moonee Ponds and Williamstown units/townhosues and housing in St Albans/Sunshine lately. Am I on the right track?

I conducted a search on this forum and haven't really seen any of the suburbs I've mentioned recommended in the forum within the past year, which makes me doubt myself.

Investment strategy is capital gains. I'll be holding the property for 10-20 years at least.

 

Units are not ideal for captain gains compared to house, according to the guys at The Property Couch. Think a few other members also share the same sentiment here.

 

Apologies, I meant "Northern or Western Suburbs". I had believed Moonee Ponds was a Northern Suburb and judging by your response I was incorrect. Sorry for any offence and confusion

 

Thanks for sharing Ben! I was a bit torn on the St Albans/Sunshine/Braybrook area housing idea because I know there has been quite a bit of capital gains in those areas lately. I'll definitely look into it further though

If you or any readers have other thoughts or suburb suggestions, would be keen to hear as well

 

If you can find a 600m2 (or more) block in that area (and at or around $600k) you will do well. Plenty of scope for subdivision now or in the future which is always good for property prices.

 

Consider Kealba or Keilor downs as well. Quite leafy & safe, owner occupier type suburbs. Keilor east/Aberfeldie/Niddrie way is quite nice as well.

 

I have relatives and friends living in the following western suburbs and are happy there :

Maribynong , Burnside Heights, Manor Lakes, Cairnlea, Derrimut

Suburbs popular with owner occupiers are good for investment strategy.

 

Interesting you mention Kealba and Keilor downs! I actually looked into them and was a bit put off with Kealba having a large landfill and Keilor downs being under a flight path.

Any particular reason why you thought these suburbs could be a good candidate for capital gains?

 

Keilor is very leafy with a decent owner occupier appeal however both these suburbs are moving. Kealba has lifted a good $50k in the last few months i reckon, friends are just about to list there own place there and are shocked at the prices for un-renovated, could be a lack of stock.

 

interesting to see that Keilor Downs seems much cheaper than Keilor East. Anyway, KE is another option if you're willing go up to $850k.

 

Maidstone, Avondale heights, Sunshine, and Keilor East - would be top of my pick
Not too mention there new Airport railway might drive the prices up in future.

 

@Codie @AxeLy , just wondering whether Deer Park is an OO suburb as well? Thanks!

 

Deer Park is largely 3 bedroom owner occupier homes. But in saying that, I would avoid buying in Deer Park if possible because the capital growth is very slow, even being surpassed by surrounding suburbs. The abundance of vacant land surrounding the area negatively impacts the supply/demands (among other factors).

 

Abundance of vacant land where?
Do you mean across the train track and more so Derrimut?

 

My family members residing in Sunshine, Maribyrnong, Maidstone, Cairnlea, Derrimut ... all of which are good OO suburbs. Not familiar with Deer Park though. Once heard my tradie mate wanting to buy a run-down house in Deer park because he was able to renovate and create instant capital growth.

 

Albion would be my pick. It’s next to sunshine and it’s not crazily priced