VIC Clyde North vs Pakenham

Discussion in 'Where to Buy' started by Kushanda, 30th May, 2021.

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Would you invest almost 500K in Pakenham or 590K H&L in Clyde North

  1. Would you buy an existing old house in Pakenham, 4*2as an IP with over 500sqm land

  2. Would you buy a home & land in Clyde North 400sqm land, 4*2,590K.

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  1. Kushanda

    Kushanda Well-Known Member

    5th Aug, 2018
    Can someone tell me what's happening within the Clyde North Market? Why is the area so expensive now? I see a lot of new builds selling for almost 1mil.

    Even Bricx have a few IPs there?

    I have seen heaps of people that have purchased land for almost 400K, built a double storey for 300K and selling finished product close to 1Mil.

    Question 1 - Clyde North is in the middle of nowhere and sometimes the prices of RE there are exceeding the established Berwick market.
    Is it a good idea to purchase H&L there and build an IP there? I am looking an 4*2 in approx 400sqm land, almost 590K. Rent $420/week. Average house price is 625K for 4*2.

    Question 2 - Is it much better to purchase an old home in Pakenham, 4*2, over 500sqm for almost 500K than to build in Clyde North? Rent $380/week. Average house price for a 4*2 in Pakenham is 592K.

    Your thoughts?
    Last edited: 30th May, 2021
  2. Onyx_OCAU

    Onyx_OCAU Well-Known Member

    11th Jan, 2021
    Clyde North defies logic to me. It’s miles from anywhere, it’s flat, devoid of trees and hence is hotter than surrounding suburbs in summer. It’s an urban wasteland that barely even has mobile phone signal - and yet the house and land packages are selling (no evidence suggesting it’s outpacing other nearby areas for growth tho - as the whole property markets are growing). There seems to be a certain demographic that’s attracted to the place - perhaps encouraged by their family and friends of the same cultural background, that’s making the area grow.

    Pakenham on the other hand… has an unjustified stereotype of the types of people who live there. I held that view too, until about 2 months ago I started working there, and discovered areas and estates unknown to me beforehand, that at least from the facade appears to be “nice”. I suspect as if you’re considering Pakenham, consider the next township further out - Drouin or Warragul could provide a lower entry price for the same or similar rental returns, thus making it better value.
    Do Androids Dream likes this.
  3. Tillie

    Tillie Well-Known Member

    18th Jun, 2015
    If these are the choices, I would chose Pakenham due to better transport links But as Onyx mentioned maybe check out Drouin and Warragul. Also, I have always liked Upper Beaconsfield, but miight be out of your price range. If you prefer brand new houses, also check Officer.
    Do Androids Dream likes this.