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Dandenong ?

Discussion in 'Where to Buy' started by ibanez01, 22nd Jun, 2016.

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  1. ibanez01

    ibanez01 New Member

    Joined:
    11th Apr, 2016
    Posts:
    3
    Location:
    NSW
    Hi All

    I'm looking at purchasing my first IP and have been wondering what anyone thinks of Dandenong. Can anyone give me some tips, pointers, suggestions etc about growth potential and anything else about this area?

    Thanks

    brian
     
  2. Redwood

    Redwood Well-Known Member

    Joined:
    22nd Jun, 2015
    Posts:
    342
    Location:
    Melbourne
    Hi there

    Dandenong is fantastic - however you want to 'know' dandenong before you invest in dandenong. For instance, over the last 5 years, i'll say Dandenong has struggled a little with capital growth, but still achieves a healthy yield. Stay away from apartments as they are struggling to get off the ground. If development, be careful, townhouses are attractive, but planning can take a while - casey is a nightmare.

    Before i'd write more, what is your strategy, you say IP - what are you looking for and what is the price range? for instance, a block for development will cost $800k plus the build....so thats a bit of work. A TH is great but will depend on location.

    There is a 'stigma' to noble park, people get intimidated by the afghans and sudenese, so be aware remember a IP - you choose the tenant and most if not all of mine are indian/ sri lankan / young professionals so throw the stigma out the window and enjoy middle eastern food - afghan is my favourite (head to Thomas St).

    Depending on your price range think about Noble Park which is awesome.....the rail upgrade is having a positive effect on the market and the developers such as myself are still very optimistic on the prospects .....


    Hope that helps!

    Cheers Ivan
     
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  3. Tinaandalex

    Tinaandalex Well-Known Member

    Joined:
    11th Aug, 2015
    Posts:
    78
    Location:
    Melbourne VIC
    will you consider neighbor suburbs ie Dandy north & noble park north as there are better pockets in these suburbs
     
  4. Link93

    Link93 Member

    Joined:
    19th Dec, 2015
    Posts:
    7
    Location:
    Melbourne
    Stumbled across this thread, was wondering where these 'good pockets' were?