VIC Best place to buy in Melbourne ~500-600k

Discussion in 'Where to Buy' started by Geoff, 2nd Jul, 2016.

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  1. HUGH72

    HUGH72 Well-Known Member

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    I don't think this makes any difference, its land which can be developed around major urban centres which matters IMO.
     
  2. melbournian

    melbournian Well-Known Member

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    +1 agree the auction culture in brisbane is nothing like you will see in melbourne or sydney. Go to an auction in melbourne for a property in maidstone (west), preston(north), and balwyn (east) and you will understand how hard it is to buy something with the competition.
     
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  3. MTR

    MTR Well-Known Member

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    Nice, I know, strong auction clearance rates = growth:)
     
  4. JDP1

    JDP1 Well-Known Member

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    I agree, its then surprising that brisaben has shows qtr after qtr of growth for the last 2-3 years despite its clearance rate not ever being much above 50%, and in many cases below 50%- yet the growth has been consistent irrespective of what the clearance rate has been.
     
  5. MTR

    MTR Well-Known Member

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    Is Brissy like Perth, we just dot have auction culture in Perth
     
  6. JDP1

    JDP1 Well-Known Member

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    yup...its probably mostly historical, cultural stuff...its probably more than those things such as risk aversion, perception of chance of overpaying at auction ( which feeds risk aversion), tight with money ( which feeds into culture etc)....who knows..these are just my observations..
     
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  7. JDP1

    JDP1 Well-Known Member

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    a point made by many multiple times...there is a big difference in areas throughout qld- not just CG performance, but especially the makeup of the people. Brisbane CBD and surrounds BCC wont feel any effect from Pauline hanson. Her constituency has an extremely different in mindset from BCC folks.
     
  8. melbournian

    melbournian Well-Known Member

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    OK, yes point made millions of times by yourself = "inevitable boom in brisbane" even pauline hanson or if brisbane has an massive flood etc. No effect from any factors ='brisbane is a bulletproof investment who would make all who invest there multi millions" :). hope next few years you would pickup me in your maserati when i drop by brisbane airport.
     
    Last edited: 11th Jul, 2016
  9. JDP1

    JDP1 Well-Known Member

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    haha..no maseratis here...mostly on horseback . Read the hype Brisbane posts.:D
     
  10. melbournian

    melbournian Well-Known Member

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    come on at least a horse carriage? :)
     
  11. sofman

    sofman Active Member

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    agreed but still think the amount of "developable" land in QLD will be higher than melbourne. NSW well lots of land but not in Sydney.
     
  12. Pentanol

    Pentanol Well-Known Member

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  13. willister

    willister Well-Known Member

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    At 650m2, you could possibly subdivide that given the irregular shape...$125K above quote is not uncommon. I have not been to a single Melbourne auction where the final price was anywhere near the quote...

    Are you seriously talking about a decent sized block in these suburbs or just townhouses/apartments - even these, they are pretty hard in the aforementioned suburbs. The only place in Rezza are pockets to the West where it's much closer to the T-Town sub station and huge power lines.

    North and West are afforable, both have their +ves but also serious -ves. IMHO stay out of the NW, far too close to the airport. I can't decide which is the better gamble, Western suburbs like Albion/St. Albans/Deer Park OR North - Rezza (has definitely sailed), T-Town or Lalor.
     
    Last edited: 29th Apr, 2017
  14. google boy

    google boy Well-Known Member

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    Thomastown, Lalor, have already sailed too. If you want to buy 650m2 block in these suburb you have to pay at least 720-800 k depend on the location. St alban is not cheap too. 700 k for good block
     
  15. Roshy

    Roshy Active Member

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    From a macroeconomic perspective, Melbourne has better prospects than Brisbane. Melbourne's economy is tracking quite well and the population growth is expected to be higher too (driven by immigration). On a long term basis, Melbourne should outperform Brisbane?

    If you agree on the above, then on a microeconomic perspective, the northern suburbs of Melbourne still has value as it is relatively more affordable than the east or SE. As T-Town and Lalor is out of your reach (if you are looking to buy a house near the train station), you may be able to pick something decent in Epping. Just avoid going to far north of Epping as there is a lot of land avaliable for H&L.
     
  16. melbournian

    melbournian Well-Known Member

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    think i said that in june/july 2016 when it was below 600K for sure. that's like 10 months ago and it has moved as you know stuff that was sold 540K back then are now 780-790K.
    Though in btw there was one 18 Zinnia St that was sold 595K today at reza closer to the factories past the lake. I know you don't like those areas towards t-town but these will def move over time as it gets exp.
     
  17. melbournian

    melbournian Well-Known Member

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    that's really interesting thanks for the feedback on the ground. and this is coming from one of the not so great suburbs in melbourne. as said in countless post, when a suburb moves or a pocket of it - they move in price drastically.