VIC Ascot Vale vs Coburg

Hi all

After some opinions from you guys on the best CG play. Looking at purchase price of $1-$1.1m

Single fronted in Ascot Vale on 250sqm vs double fronted on 500sqm in Coburg.

Buying as PPOR so yield not a factor. Add value to both through a reno, maybe refinance to buy IP later down the track.

Deep down I feel like Coburg is the right play.

 

CG the coburg one may do better due to the size of it+ plenty of potential, but as a PPOR I would like the lifestyle in Ascotvale better. Ascot vale is really pretty IMO

 

Ascot Vale

 

Mate that's tuff. Both good locations. Which can generate more through Reno? I'm gonna say go with coburg as it's a ppor and the additional room would be awesome for you/family.

 

Very different suburbs.
Coburg had a stigma about it still.

My advice would be to look south of bell st. renolds Rd etc. definitely don't look at coburg north (north of coburg lake), industrial area close by.

Sure sqm walks the talk, but ascot vale would be regarded as a premium suburb in Melbourne now. Will your budget allow you to buy a solid IP there? I'm not sure. I followed AV for quite some time 2 years ago and there has been significant movement since then. Likewise with coburg.
Avoid Kensington on a side note.

Traffic is heavy in AV, so stay off the mai rds and tram lines. ascot vale Rd junction is a mess.
Houses on the busy rds seem to sell for 100k less from my observations.

Coburg will give you more land. But I would place a heavy weighting on taking the time to select the correct 'pockets' to buy in, not just finding a nice weatherboard with some land.

 

How close to the industrial area do you think is too close? There are some nice properties on either side of the Merri Creek I feel can be a nice CG play.

Otherwise agree Coburg south of bell st has great potential, Nice leafy streets and big properties that sell within the OP's bracket. Would need to be happy to buy and hold and wait before renos to make the most out of it.

 

I like them both, but I love the Kensington area that's why I wouldn't choose Ascotvale, but I'd also be happy in Coburg.

 

For an investment - Ascot Vale (due to location). For a PPOR - you couldn't pay me to live in either.

I couldn't imagine Essendon North or Strathmore would be all that more expensive? Or maybe Pascoe Vale?

 

I'd check Pascoe vale / Pascoe vale south too for that sort of budget. You'd get a very nice house on large land.
Coburg/Pascoe vale has been gentrifying for a while now. Even parts of Glenroy are following through with new builds.
Stigma wise, every suburb has good and bad pockets. Go for a drive and see for yourself if possible and choose a pocket you like.

 

Pascoe Vale IMO has a much nicer feel to it than the other aforementioned suburbs. Particularly Pascoe Vale South (not sure what the prices are like). Ascot Vale too busy with a large housing commission estate (I agree that the roads/intersections are a mess) whereas Pascoe Vale appears much calmer.

Or maybe I should throw the cat amongst the pigeons and suggest Sunshine, in the Matthews/Parsons/Monash St section?

 

Long term in Coburg you want to away from current or potential over high dense development spots. Leafy streets with a mix of lovely old houses and nearby to transport you can't go wrong.

Look at what is going to be more scarce and unique in years to come.

 

Wow thanks for the replies guys, didn’t expect so many.

Pascoe Vale is definitely on the cards too, my dream house is Californian Bungalow and it looks like Coburg is the last place I can get one for around $1.1m?

Pascoe Vale seems to have more of the 1950s double fronted houses, which I also like and will settle for and delay the dream a little longer.

Another draw card of Pascoe Vale is the Strathmore Secondary School zoning. Is the school really that good? We’re a bit too young to be thinking about Secondary School choices at the moment but I guess it’s never too early to start. Seeing what’s happening around good schools in the east is just crazy.

 

If you're not set on your home being in the North, you can still find Californian bungalows for less than a mil. I love Californian Bungalows too, and unlike the fancy new builds, they'll never go out of style

If you want to stay inner city, but you don't mind being West rather than North, take a look at Sunshine. Specifically the pocket spanning from Monash St to Matthews St. You would be a short walk away from a new upgraded station and massive town centre (tons of Council money poured into it over the past 5 years), and you're 15 minutes away from the city. You want even closer to the city (8 mins or so)? Take a look at West Footscray, near the Barkly St shopping village and Whitten Oval. Forget Braybrook, Maidstone and Maribyrnong, they don't have too much in the way of Californian Bungalows.

If you want Cali bungalows for 500-600k, and you want to be surrounded by beaches, good schools and local services whilst still being within easy (1hr) reach of Melbourne, look in inner Geelong. The northern part of Geelong West (nearer to Church St) would serve you well - you have North Geelong train station nearby and you can easily hop on the Geelong Ring Road for a 50 minute trip to the big city up the highway.

If you don't specifically *have* to stay in the north then you have many more options IMO. I reckon that with the exception of true premium suburbs like Essendon or Moonee Ponds, a lot of the north is overpriced compared to the west.

 

Thanks G Town. Would prefer to stay north as its close to family and support network, trying to start a family.

Also good location for us as I work outer north and missus is in the CBD.

While we can still get in there for not too much over $1m we’re going to try that.

 

If that's the case and you're looking at that 1 mill range (or slightly over), Pascoe Vale South will serve you well.

Looking at some recent sales for tidy-ish weatherboard homes in Pascoe Vale South:
28 Gallipoli Pde sold for $750k
7 Hackett St $866k
Pascoe Vale proper should be a touch less.
Keep on looking and you should be able to find yourself a nice weatherboard in the area. Take a look around, spend some time on the ground, pick streets you like.

Another thing - if you're gonna spend $1m plus on a home in these areas, I would be making sure its weatherboard, not brick.

Best of luck with house hunting.

 

Really, why is that? I thought brick is best, forever and always