VIC Docklands Investment

I like Y-Man's comment that there is Docklands and there is Docklands.
We would happily live in the section of Docklands closest to the Yarra particularly the parts closest to Southern Cross Station.
There is some very nice accommodation on offer and prices in this area have actually held during this downturn.

 

if I was buying a ppor in Docklands I would look at Caravel Lane or Lorimer Street

Is definitely go 2bdr and above and one with a view.
Whats the point living in docklands and without a view.

Some of the 1bdrs are tiny
Some of the ones closer to Bourke st and Spencer are very noisy and you can't see any of the fireworks if it had a view.
You might as well move to an apartment on the other side of the city

Some of the designs on the caramel lane one is poor. I think its number 5, the one that looks like a boat, it's aged poorly and the shape makes the rooms and balcony quite impractical

 

Our first year in Melbourne we lived in Waterview Walk for 6 months (don't go there) then Lorimer St for 6 months. We loved the Lorimer St apartment (was in the small multi coloured one at 60 Lorimer) - because it had a north facing balcony looking over the yarra and getting the winter sun, a large balcony that was enclosed on both sides to block the howling docklands winds, and it was relatively large with a great floorplan. It was also quiet and tucked away from the busy parts of the area, which get amplified noise as the hoons car exhausts echo off the buildings. IF you find an apartment that ticks all these boxes and you can get it dirt cheap it might be worth a look as it has exclusivity to some extent. Remember though the body corporate alone will be well over $100 per week, and these buildings are ageing. We loved Lorimer so much we nearly bought there in 2008. Very glad we didn't and personally I wouldn't now either. The ongoing costs are just too high and land value too low.

 

I would lean towards larger apartments at the city end of Lorimer Street or just to the otherside of the Yarra.
Unfortunately New Quay is south facing and can feel like ice in winter.