VIC Buy now in Oakleigh South or closer suburbs?

Hi All,
We really looking to buy in the South Eastern suburb around Oakleigh/Oakleigh South (We were interested in Bentleigh but the prices have shot up)etc. areas.
Is it a good time to buy there as we are a young family with 2 kids. We are interested in this area as we heard they have good schools too.
We are looking for a place where we can live for a while so hoping to make a good decision and a good investment.

Are there any areas close to these areas with good schools and promising
Our range is up to $850K

 

I'm no expert in that area, but I'd say go for it. 850k should get you something decent in the area I would think. Long term prospects for that area are good.

 

Thanks JDP1 for your reply.
Its seems people are not saying much here regarding this location

 

I do know the area having lived in clayton before. I think 850K is not going to get much landsize unless you are going for a unit/townhouse. You are in between McKinnon, bentleigh and Chadstone which are much sought after locations. Also in theory you could drive to Monash uni as well as it is not that far. From investment perspective - it is a good location.Schools not too sure but I am sure you could get into McKinnon which is among the top 10 schools in the state.

 

I live in the area and have an IP in Oakleigh as well. Oakleigh South has some dodgy pockets, so I'd be driving around there before you decide. You'll find that the demographic changes drastically as well.

Is this for a PPoR or IP? If its a PPoR, $850k won't get you much land as melbournian said. Older 2 bedroom units in Oakleigh go for around that if they're walking distance to schools and transport.

I would also recommend Hughsedale and have friends and family there. Great area, really good schools, close to shopping, public transport and you could get an older townhouse for your budget.

 

This is exactly where we are looking with the same budget for past 3+ months. You won't get anything with land for less than $900k if not $1 mill in some cases. Unless you're happy with a townhouse/unit. Otherwise you need to look at Clayton South and surrounds but be prepared for fierce competition at auctions

 

Clayton & Clayton South I think has taken off and is even more exp - it's another mainland Chinese favourite due to proximity to Monash Uni.

 

How would you get into McKinnon. It has a very tight geographical zone which barely extends into neighbouring Bentleigh certainly not Clayton.

 

If Oakleigh proper is beyond your budget, sad to say McKinnon will definitely be. Mate of mine bought a PPoR 2 years ago for 1.6 mil on a 600 sqm block

 

Rent in the suburb in the zone after a year or so move to ur ppor outside the zone if the intention is to get into the school otherwise u may have to pay more $$$ for 5-7kms within That zone give or take

 

Purchased a PPoR in Oakleigh in March after attending auctions for 9 months. Was also looking at Huntingdale and the Oakleigh South side of North Rd. None of the freestanding homes on 500m2+ went for less than $950k.

 

If renting you will have to rent for two years most likely to be able to fulfill the requirements. I.e have all required evidence of rental lease, bills with name and address and meet there cutoff dates.

Further ones you love out of zone siblings are not guaranteed due to the massive pressure on intake from in zone enrolments. So then you may have to re rent in the zone for another two years.

All this moving back and forth from McKinnon to Oakleigh is going to expensive, time consuming, a PITA, and disruptive on your family.

I'd suggest that the large reason McKinnons grades are so a high is that aside from God teachers and a good principle, as it started to reprepresent a better average more and more Asian were enrolled their. Not meant to be a racist generalisation, but in my experience Asian parents are children are more driven to get high academic results than Aussies. This has been massively self fulfilling cycle.

There are plenty of other good schools around that don't have the same standard deviation of marks, but if your kid is smart, and your driving them a little they should do well in many other schools.

Have a look at Cheltenham secondary, real estate not to far from there is still within the budget for OP.

 

Actually 3-4 of my cousins lived in Heidelberg and rented a crappy unit in the late 90s in balywn like maybe $200 per week for a number of years. They left it empty and only stayed there on and off if they were any extra activities

You are right Asians skew the medians. No suprise as McKinnon balywn and gwsc are favourite targets of Asian parents

 

I have heard rumours that McKinnon does random address inspections to check if people are actually living there or it's a grandparents house etc. may be ******** though.

 

I'm not sure - only can relate to my high school experiences in the late 90s but my cousins were doing a similar one - rather than sell their place in Heidelberg and buy in balwyn they just rented some dodgy old unit.