Buying in areas of high public housing concentration

Discussion in 'Where to Buy' started by markson, 26th Mar, 2016.

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  1. melbournian

    melbournian Well-Known Member

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    if it is an ex-housing commission as it private it is treated as a private home. Just take a look in heidelberg heights, these places are going for 700K now. heidlberg heights and west have a rough reputation for crime and housing commission. the only thing i dun like about fawkner is that super large cemetary that supposingly the train station is in. i reckon fawkner would boom. not many suburbs left in the 400-500Kish range within that 10-15kms range.
     
  2. MTR

    MTR Well-Known Member

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    yes you will be.

    I have purchased in many State Housing areas and have achieved some of the best growth with these, due proximity to CBD, zoning/potential zoning. Key is buy when market is rising

    I invest in many markets around Australia, one of my best performers was Broadmeadows, on the nose with locals, made a killing when I sold a couple of years later
     
  3. datto

    datto Well-Known Member

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    Yeah I remember Mt Druitt between the booms there wasn't much growth. Pretty lean times.

    But as the tide so to speak rose, the prices rose. And when that tide goes back out some people will caught out naked! That's why a buffer is important.
     
  4. sash

    sash Well-Known Member

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    Mate...no body wants see those Bogan Jewels...:p..this is a familty friendly site ...

     
  5. datto

    datto Well-Known Member

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    I won't get caught in the buff coz I got a buffer. The equivalent of the value of two Druitt houses in 2018 !
     
  6. sash

    sash Well-Known Member

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    Like I said...you are a Boganaire...noice work on the $1m buffer. ;):D

    Youse da man...as they say in the Druie?
     
  7. Otie

    Otie Well-Known Member

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    I'm a complete noobie here- and would really appreciate advise from you guys that are experienced investors- for my first IP, if you were me would you buy
    A) the ex commission in the ex commission part of Fawkner for 400k
    B) a house in sunshine north that has a train track (not station) running past the end of the court two doors down for 400k
    C) a house in Ardeer for 450k
    All are comparable homes, on approx 600m blocks. Houses are all in pretty rough condition which I'm not bothered by. Only the Fawkner one won't pretty up very much as its that old fibro facade the others are brick and weatherboard