Advise on buying in this market

Hi Guys,

Looking for some advise as we have been considering buying a PPR (rentvesting at the moment) in inner northern suburbs of Melbourne e.g. Pascoe Vale, Oak Park and Hadfield and may be Glenroy.
But looking at recently sold prices in these suburbs, I am not sure if if it is the right decision.

3 BR units/townhouses in these suburbs on approx. 200 sqm land are going for around $900k in these areas. And all the houses on bigger blocks are way over our budget.

I dont mind a unit on small block of land but wondering if the these units/townhouses will go up in price or they have almost reached their peak for now.

I guess just looking for some advise and thoughts.

Thanks in advance

 

Hey Melmac,

Hard to predict, very hot market at the moment. I am from the area. There is a rumors for recession but there is lot of fomo in the market as well.
I will look in to Coburg north, Preston and pascoe vale.

Try to get a house with decent land. Which you can develop in to multi unit site.
Good .