VIC Braybrook and inner/mid west

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

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  1. drfuzzy

    drfuzzy Active Member

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    Australia
    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

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    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

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  4. Property God

    Property God Active Member

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    Braybrook doesnt compare with west footscray because one is middle west and other is inner west.

    If you want prime location you want innerwest. Maidstone is simular price to braybrook and is inner west so would be a better investment since its close to highpoint which is getting an extension and as footscray grows as a business hub and flooded with apartments, places like maidstone, west footscray, yarraville, kingsville, seddon, mariybinong will be the surounding suburbs.

    Maidstone also have the development and population potential with the vacant defence land and the river.
     
  5. melbournian

    melbournian Well-Known Member

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  6. couq

    couq Well-Known Member

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    Melbourne, Australia
    Even if not 1.5 mil at least $1000 per sqm which is 1160400 which is a close to 37% rise in one year

    Crazy
     
  7. couq

    couq Well-Known Member

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    Location:
    Melbourne, Australia
    I think the issue with Braybrook is only transport as it takes longer from Braybrook to city then say Sunshine or even Albion as it requires a bus and others have said it is not seen as inner west.

    Saying that, it is only 10 km from city and 20 minute drive on a good day into city so could be right for the right block