Join Australia's most dynamic and respected property investment community

VIC Braybrook and inner/mid west

Discussion in 'Where to Buy' started by drfuzzy, 28th Aug, 2016.

  1. drfuzzy

    drfuzzy Active Member

    13th Sep, 2015
    I'm starting to focus my search for my third IP to inner/mid west Melbourne and am looking at Braybrook. My goals:
    - buy, renovate, hold until my retirement in 30+ years
    - buy within 1km of a train station, as close to the CBD as I can get
    - buy as much land (with house) as possible for a budget of $600k-$800k
    - buy land that may not be attractive to developers now, but will be in decades to come

    This has left me quite interested in the Braybrook area as:
    - land (with house) is circa $1000-$1500/sqm
    - only 9km from CBD with walkable train stations
    - footscray/west footscray at 7-8km from CBD would cost $2000-$3500/sqm land with house which is roughly double but not much closer to the CBD
    - close to Sunshine which seems to be booming and popular with migrant Australians, (particularly the Vietnamese?)

    It has been suggested a better use of this cash might be something rundown around Seddon. However I would end up with half the land and not much more convenience to the city.

    Going out further perhaps say to St Albans greatly increases the distance from the city without much further drop in prices.

    Can anyone point out some of the pros and cons of this idea? Why does there appear to be a large price gap between Western Footscray and Braybrook?

    All thoughts and advice appreciated.
    Mitesh Dedhia likes this.
  2. melbournian

    melbournian Well-Known Member

    2nd Sep, 2015
    Personally, i prefer footscray, sunshine and maidstone over braybrook. Sunshine has it's own township, maidstone close to highpoint, footscray with it's business area shops markets.

    If you ask me, st albans might be the place to go as all other places have sort of have major rises.

    Even point cook what was 350kish house 2-3 years ago is now 520-550kish.
  3. sofman

    sofman Member

    29th Jun, 2015