I have been looking at IP's in Cranbourne VIC given the development in the area as well as the potential granny flats. Cost is around the $350k mark. Whats peoples thought on the area?
Good area Mick. Try to save as much as you can to increase the gap between median and your purchase price. But considering that you are going 45k's from city You can also look options in North and South east. Between 30 to 40k's. Regards
Only issue with Cranbourne is there is almost an endless supply of land and new homes- they will be your competition for CG and tenants
It's no longer just Crimebourne, it's all these outer south eastern suburbs- they're becoming ghettos. Having said that I can't see it making it a bad investment just a bad place to live.
Cranbourne is snother market for priced out people. I recall reading a report where it was amongst top 10 suburbs for immigrant entry. As far as i recall, 1300 per month. It stood at7th place. Cragieburn at 3rd place with nearly 1700 migrants. I don't think crime is any worst than any other suburb. Rather, it is a better investment choice than bogan in brisbane. Regards