VIC Anyone familiar with the area Glenroy in Vic?

Discussion in 'Where to Buy' started by psylence, 23rd Jul, 2015.

Join Australia's most dynamic and respected property investment community
  1. psylence

    psylence Member

    Joined:
    16th Jul, 2015
    Posts:
    24
    Location:
    NSW
    Inspected a property there today and was told by the agent that the part of Glenroy where the property was which is left of Pascoe vale rd generally has a better reputation then the other side and historically has had better capital growth to a significant margin. I have no reason not to believe him however if anyone from that area can confirm this that would be handy.
     
    psylence, 23rd Jul, 2015
    #1
  2. Beelzebub

    Beelzebub Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    822
    Location:
    Lost
    This is true. I used to live around there. The other side is closer to Broadmeadows so is considered worse. That being said, the whole area in general doesn't have a good reputation so your basically looking at a least worst area rather than a good area.

    But the area is gentrifying and I don't see any issue investing in low ses areas
     
    Beelzebub, 23rd Jul, 2015
    #2
  3. OC1

    OC1 Well-Known Member

    Joined:
    6th Jul, 2015
    Posts:
    216
    Location:
    Melbourne
    Drive through the suburb and you will see the difference.
     
    OC1, 23rd Jul, 2015
    #3
  4. JK200SX

    JK200SX Well-Known Member

    Joined:
    24th Jun, 2015
    Posts:
    527
    Location:
    Melbourne
    Yes, I agree also.
     
    JK200SX, 23rd Jul, 2015
    #4
  5. albanga

    albanga Well-Known Member

    Joined:
    19th Jun, 2015
    Posts:
    2,701
    Location:
    Melbourne
    Agreed but I would suggest the ship for Glenroy has sailed. Prices these days for the suburb are ridiculous as developers are just buying up anything on a decent block (which is most stock as it is an old suburb).
     
    albanga, 24th Jul, 2015
    #5
    Greyghost likes this.
  6. JK200SX

    JK200SX Well-Known Member

    Joined:
    24th Jun, 2015
    Posts:
    527
    Location:
    Melbourne
    A bit like what's happening in Rezza!
     
    JK200SX, 24th Jul, 2015
    #6
  7. OC1

    OC1 Well-Known Member

    Joined:
    6th Jul, 2015
    Posts:
    216
    Location:
    Melbourne
    Glenroy had a lull late last year but has increased at least 10% in the last 6 months. Rezza, it's staggering what has been selling lately.
     
    OC1, 24th Jul, 2015
    #7
  8. Greyghost

    Greyghost Well-Known Member

    Joined:
    22nd Jun, 2015
    Posts:
    1,635
    Location:
    Brisbane
    I lived in Glenroy for 20 years until 1 year ago. My parents had a 950sqm block on the good side. My grandpa lives on the not so good side.

    I can help you with whatever you need to know...
     
    Greyghost, 24th Jul, 2015
    #8
  9. Johann_

    Johann_ Well-Known Member

    Joined:
    1st Jun, 2017
    Posts:
    374
    Location:
    Melbourne
    For investment purposes the market in Glenroy is too hot!!.
    Developers are buying into the area like crazy at the moment...

    But if you are looking at living in the area then no issue :)
     
    Johann_, 26th Jul, 2015
    #9