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Box Hill vs Ashburton (Vic)?

Discussion in 'Where to Buy' started by willister, 23rd Feb, 2016.

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  1. willister

    willister Member

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    I know both are very expensive and won't give much return, but which would you choose and why?

    Here is my short, unprofessional layman's opinion:\

    Proximity to CBD:

    Approx
    Ashburton: 12kms
    Box Hill: 15kms

    Winner: Ashburton

    Public Transport:

    Box Hill: Train (Excellent Express Train I might add) and Tram
    Ashburton: Train but Tram is quite close by.

    Winner: Box Hill

    Amenities:

    Box Hill: Very much like a mini Chinatown, has a decent shopping strip.
    Ashburton: Small shopping strip.

    Winner: Personally Ashburton, I prefer the smaller town feel.

    Overall: Ashburton, but that's just my style
     
  2. melbournian

    melbournian Well-Known Member

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    depends what are you buying houses, units, townhouses . if in box hill (you going to fight against the chinese) if going after sub-dividing blocks and well basically unless you are cashed up. it will be difficult to win.

    Villas in blocks of 4 seem really cheap in box hill and you can pickup some for like 480K even but just few kms away in balwyn it can go to 1 million.

    Ashburton is more more homely feel however there are zones as NRZ (neighbourhood residential zone) so basically depending on the overlays next to no devs maybe a dual occupancy but that means more $$ for bigger blocks.

    Both i feel are approaching peaks in my opinion. If it was to buy in these suburbs it would have been 3-5 years ago.
     
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  3. jpcashflow

    jpcashflow Well-Known Member Business Member

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    Are you looking at buying a investment property or are you looking at living in the area?
    I would not be investing in BOX HILL right now because I fill that the properties are over inflated in terms of prices.
     
  4. Kai41314

    Kai41314 Well-Known Member

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    Hi @melbournian,

    Can you provide me the links of villas in blocks of 4 that are recently selling/sold for that price? I cannot find them....



     
    Last edited: 24th Feb, 2016
  5. melbournian

    melbournian Well-Known Member

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    Kai41314 likes this.
  6. Jake Milne

    Jake Milne #1 Buyers Agent, Vic. Business Member

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    Kai41314 likes this.
  7. melbournian

    melbournian Well-Known Member

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    @Kai41314 if u're looking for villas best bet is unrenovated ones in camberwell or balwyn
     
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  8. willister

    willister Member

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    Sorry all for the late reply.

    Totally agree with you that the train has left with both Ashburton and Box Hill.I looked at it in 2011 where the prices were between $700-$800K and I thought it was nervously expensive back then! Now they average $1.4mil...

    I'm not sure why I'm attracted to Ashburton, seems on paper perfect on a 700m2 block. Relatively close to CBD, Decent greenery, parks. Served by infrequent but not crowded rail, has a very homely type feel as you said...
     
  9. melbournian

    melbournian Well-Known Member

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    i think ashburton would be in the neighbourhood residential zone (NRZ) - though i didn't check whereby there are restrictions on site coverages hence you won't be able to do any added development. This is quite the case for suburbs like for e.g. kew (500sqm) minimum per dwelling. i remember reading last year there was someone who had a 15 unit (apartment) approved and then it expired and when the new zones came in he could no longer get that 15 units anymore.

    boxhill is still dev friendly though it would be next to impossible to secure sites with the chinese buying in.