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VIC Boronia / Ferntree Gully

Discussion in 'Where to Buy' started by rjw180, 2nd Jul, 2015.

  1. rjw180

    rjw180 Member

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    Melbourne
    Hi all, wanting to get some opinions on potential for these 2 suburbs.

    They're getting pretty far out but nearby suburbs like Wantirna, Knox and Heathmont seemed to have experienced some growth and sqmresearch shows recent growth and low vacancy rates.

    They also have access to train line and facilities. Without being too familiar with the areas I've always had the impression that they're a bit rough.

    Thoughts? Which has the better growth potential? Or would it be better to look closer in e.g. Wantirna?
     
  2. Redwood

    Redwood Well-Known Member

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    Hi there,

    The analysis will depend on your criteria, i.e house, TH, unit or development site.

    These two suburbs like the surrounding suburbs have seen an influx of Chinese investment in the last 12 months as they are moving away from Glen Waverley and searching for more affordable housing (not really if you see the prices) and importantly good schools (which is the key driver).

    Public transport is good with the trainline and anything within 1km is being snapped up quickly and achieving higher prices at auction.

    If its an IP - rentals are steady and vacancy fairly low. Yield depends on type of property and proximity to transport.

    In terms of growth potential, in either of the parameters there is growth for the next 12 months, however not sure if this is sustainable in the long term.

    Cheers Ivan
     
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  3. jpcashflow

    jpcashflow Well-Known Member Business Member

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    Hello,

    The areas you have mentioned are really good prospects.
    1) Great infrastructure
    2) Great Schools.
    3) There will be a growing demand for people looking to live in these areas.
    4) Low vacancy rates.
    5) Still affordable to buy in the area.
     
  4. JamesP

    JamesP Well-Known Member

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    We checked out Belgrave to Ferntree Gully and were surprised how deceiving some of the listings were. We couldn't even access most the homes. They're all situated on single lane dirt roads on steep hills with extremely steep dirt driveways, which explains why they're so cheap!

    We thought Belgave and Upwey main st were particularly nice, and the more liveable blocks around them. Once we entered Upper Ferntree Gully it completely changed into fields of concrete with random blue collar businesses scattered all over them, noisy, hard to walk around, no character, central location or identity etc. Just your traditional Dandenong/Ringwood style blue collar suburb.

    All the area's felt very redneck. We were constantly tailgated on the speed limit, people seeing you and pulling out anyway, jaywalking in front of you while staring at you etc aggressive bogans. There's definitely something in the air up there. You know the whole "I'm in my 50's and don't take sh*t from anyone because I have 2 man caves and still go to Bon Jovi concerts". Places like that have physical confrontations wherever there's alcohol. The people are ******.

    Besides those things Belgrave and Upwey looked classy, Tecoma was more or less the same without a township. I'd definitely live/rent in Upwey before Ferntree Gully provided it's a normal flat block. The train station is only a minute or so after Ferntree Gully, and we found those area's significantly nicer.
     
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  5. jpcashflow

    jpcashflow Well-Known Member Business Member

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    Hi James P,

    I even find Toorak having people driving up my rear end and 50 year old dating 18 years taking them out to nightclubs in Toorak. I think society is just nuts these days but if you are looking at investing you have to look at a few more other aspects.
     
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  6. dan_89

    dan_89 Well-Known Member

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    I'm sorry JamesP but 80% of your post has nothing to do with property investment or the potential of the above noted suburbs but thanks for the rant!

    Imo both Boronia and Ferntree gully still offer significant value and potential for future growth. Prices in Boronia have shot up lately and it seems there is plenty of interest in the area. I've had an IP there for nearly 4 years and have always had good tenants (excluding 1..) with no shortage of applications when vacant!
     
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  7. rjw180

    rjw180 Member

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    Thanks all for your input. Pretty much backs up my thoughts.

    Lol @ JamesP's rant but appreciate your effort anyway.

    I definitely don't have the time to deal with difficult tenants so good to know there have been some good first hand experiences.
     
  8. adrian_christian

    adrian_christian Well-Known Member

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    @rjw180 did you end up doing anything in the Outer East?
     
  9. rjw180

    rjw180 Member

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    Not yet. Still my preferred location but not in any particular hurry.
     
  10. nth brisbanite

    nth brisbanite Well-Known Member

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    I'd agree with the above except for 'great schools'. Can you name the great schools in Boronia and Ferntree Gully?
     
  11. dan_89

    dan_89 Well-Known Member

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    Missing out on some nice growth while sitting on the sidelines there! ;)

     
  12. The Y-man

    The Y-man Moderator Staff Member

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    Not my cup of tea at present - way too hot. Properties going under offer in the first open, queues at opens.... not good buying climate. Pick somewhere quieter.

    The Y-man
     
  13. Lil Skater

    Lil Skater Well-Known Member Business Member

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    I live in Boronia, yes it has its bogans - but I spent my teenage years in Mt Druitt, so it's an improvement :D

    The market and growth out here has been massive, but there's an awful lot of development going on (old, large blocks) which would make me think twice. I wouldn't say it's far out though, 30min into the city and its not like you go through rural areas to get here!

    Once you start heading up to Upper Ferntree Gully and Upwey is where you start finding dirt roads though, but most of FTG isn't like that. The hills is very much in its own little world IMO, don't like development, not a lot going on.

    If I were to buy out here I would look at Boronia, Bayswater, Croydon and Mooroolbark before FTG or Wantirna. I don't really like FTG and Wantirna doesn't have trains, if you were doing Wantirna though I'd look up the other end near Waverley Christian College and Eastlink than the Boronia side.