Burwood VIC PPOR

Discussion in 'Where to Buy' started by MikeyM, 21st Oct, 2019.

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  1. MikeyM

    MikeyM Member

    Joined:
    2nd Jun, 2017
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    Location:
    Melbourne
    Hi all,
    My partner and I are looking to purchase a PPOR in Burwood and I wanted to get everyone’s thoughts on the suburb in terms of investment potential.
    We will most likely stay in this location for 5+ years and then potentially rent it out longer term.
    The property is a 3br unit in a block of 4 with all having street frontage. I am not too keen on purchasing a property with a common driveway so this particular unit appeals to us.
    Our budget is 900k

    My concerns for Burwood are below:
    No train within 2km
    Large student demographic due to Deakin being close by
    Large blocks are being subdivided into town houses with 3 on the block all around the surrounding area. (Block behind the unit we are interested in will most likely be developed in the next 5 years)
    Unit of interest has a land size below 300sq.

    Will the fact there are lots of 3 bed townhouses being built be a negative on future capital growth / rent ability?

    I like the area for the fact there are plenty of educational options (early childhood to uni) in close proximity as well as copious groups of shops dotted around the area.
    I gather there may be a train option coming to to Deakin at some point in the future also.

    Any thoughts positive or negative are most welcome!

    Cheers,
    Mikey
     
  2. The Y-man

    The Y-man Moderator Staff Member

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    As long as you are in walking distance of the 75 trams you'll be fine. Change at Hartwell

    That's a good thing when it come to renting out. Would be good if your unit has 3 bathrooms


    We are not talking high rise devs so IMHO should be fine.

    The Y-man
     
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  3. Redwood

    Redwood Well-Known Member Business Member

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    Hi there, really depends where in burwood you are looking.

    Anywhere on burwood hwy and good luck, all land is for apartments with deakin nearby.

    Like a 15km radius - its heavily impacted by international buyers....yes make it a 30 km radius or longer.

    As you move closer to highbury rd youre finding more opportunities and one of my first purchases was there with a city view.....

    As long as you are have a car you should not be concerned about train as there is the tramline on burwood highway.

    Brickworks is coming up on middleborough rd and you are close to everything. There is always the hole on the corner of huntingdale and highbury which can be considered a tourist attraction - yes locals will know what i'm talking abt.

    If you're buying land move closer to highbury rather than burwood highway, otherwise behind PLC on the warrigal rd side.

    Great ammenities, great for families and safe in my view.

    Price is the issue.

    Cheers Ivan
     
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  4. Hamish Blair

    Hamish Blair Well-Known Member

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    Melbourne
    I can get the 767 or 732 bus from corner of station st and Burwood Highway to Box Hill station.

    I am one of those who developed a three-pack .

    it’s close to PLC if you have daughters.
     
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  5. MikeyM

    MikeyM Member

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    Location:
    Melbourne
    Thanks for the replies. Appreciate the insight.

    What do we think about the potential for a train station at Deakin in the next 10 years? A lot of talk and studies but does anyone think it will come to fruition?
     
  6. Westie

    Westie Well-Known Member

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    Mars will probably be inhabited sooner than a train station there.
     
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  7. Redwood

    Redwood Well-Known Member Business Member

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    what happened to the doncaster train station....
     
  8. The Y-man

    The Y-man Moderator Staff Member

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    That will come after the Deakin station is built and all the moons of Jupiter have been colonised.

    The Y-man
     
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