VIC Ardeer, Melbourne Victoria

Hi, i would like to know peoples thoughts on Ardeer, Vic. I'm looking to buy my first investment and have been priced out of Sunshine & Albion. My Budget is in the low $300,000 mark and I've been looking at Ardeer and i could buy a house on a smaller size block with potential to update. I thought it would be better to buy a house rather then an inner city unit. As I'm from Sydney i don't know to much about the area.

My Strategy is to buy & hold, so property in which i can add a bit of value and hopefully get some Capital Growth. I think a decent rental yield can also be achieved in Ardeer.

-The suburb is situated 16 km from Melbourne CBD which is approx 20min by train or car.
-The council are injecting money into Sunshine/Albion town centre which should benefit residents in surrounding suburbs.
- Drawback is suburb doesn't have that cafe lifestyle the melbournians seem to enjoy.
- No local shopping centre.
- Ardeer Train station is on the V-Line not on the metro-line? Is this a drawback for people commuting to work/socialise in the city?

I would appreciate any feedback. Thanks

 

I've lived here for 6 years and it's a great area with great upside. I just sold my Townhouse 3 weeks ago here only because I'm building in another area now (closer to family/friends).

Hate to burst your bubble but you're not going to buy a house in Ardeer for $300k. There's a place in my street going for sale for b/w $350-$380k on 700sqm, that's a very good buy imho.

 

I see a lot of development in the area. It doesn't have the best reputation but that may change with time. As littletee said, you'll probably need to up your budget or look further west, such as in Deer Park.

 

Spot on but he won't get a house in Deer Park for $300k either anymore, the whole area has gone up a fair bit recently after Sunshine has exploded. Budget of $400k would do it though and that includes stamps if you're lucky.

Big fan of the wider area, lots of future upside in my opinion...

 

Ardeer is a great area to look at but at 300K its going to be tough .
But if you can increase your budget you may be able to look at buying a investment property in Deer Park.

Could your budget be stretched a bit?

 

Heading further out again, and not great rental return at the moment - but what about Melton or Werribee? Bit slower, but cheaper to purchase into.

Expect returns for a 3 bed house to be under $300 pw.

Diggers Rest might be an option as well, bonus is it's close to Sunbury which is picking up, downside is a lot of Sunbury folk are turned off by it. I still don't know why..

You might be able to pick something up around Dandenong way too, might.

 

But why would anyone want to?

 

You can find 40% margins on developments there. Only kidding.

 

Diggers rest is pretty small

Any nice country feel it has to it will be lost in time as it becomes infested with wall to wall house and land packages and the 2k deposit holders that come with them

 

I think the west is a really good area to invest in at the moment... Some of these older areas have large parcel of lands where you can either add a unit to the existing property or build a couple of new properties on the block.

 

At the moment, sure. People seem to forget the market isn't always like this (in fact maybe a third of the time) and that selling in these areas is traditionally harder (esp for new unit dwellings). Know some guys that have done well in the west such as Maidstone, so I would be very selective as to which suburb you buy.

Ardeer? Nothing there other than the fact it's cheap. Look at value instead.

 

Ardeer has easy access to the western ring road and only a 15 min drive to CBD, you can catch the bus to Sunshine station or just walk to Ardeer station. They have recently changed the rail network where the frequency of trains has increased.

Good size block of lands with homes that have a bit of character... Good area IMO

 

This may be true, but working off a tight budget is the reason I suggested. There is actually a small part that's much older in DR, which means you can buy an exisiting house, add some value and have a larger parcel of land. GC would likely be slow for a while though.

 

+1 Massive fan of Ardeer as most people know. Will be looking to buy back in the area as soon as I possibly can.

 

Little tee well done for knowing which areas to look in!!!

 

Diggers rest would be one of the last places I would put my money.

 

The rental returns are quite low in Ardeer at the moment.I have an investment property which has been vacant for nearly 2 months even with lowest rent in the suburb. I'm not sure if its the case in other areas as well..

 

Ardeer and Deer Park would be great suburbs to have in the portfolio- I would actually buy here if I were buying in Melbourne but as has already been stated, you will need at least 350k+ to get something here now- still good buying at that though.