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East vs West

Discussion in 'Where to Buy' started by EastOrWest, 9th Jun, 2016.

  1. EastOrWest

    EastOrWest Member

    Joined:
    5th Jun, 2016
    Posts:
    8
    Location:
    Altona Meadows
    What do you guys think of the long term growth potential for Eastern suburbs of Melbourne vs South East vs West? I am looking to buy a PPOR but also want to consider long term capital growth potential. Thanks
     
  2. Angel

    Angel Well-Known Member

    Joined:
    19th Jun, 2015
    Posts:
    1,291
    Location:
    Paradise, Brisbane
    How far east or west or whatever?
     
  3. Greyghost

    Greyghost Well-Known Member

    Joined:
    23rd Jun, 2015
    Posts:
    1,262
    Location:
    Melbourne
    I think this is a too macro approach.
    There are markets within markets within markets, so to speak.

    You need to factor in:
    Initial capital to buy into that suburb
    Have you stretched to get into that suburb therefore may have not bought in the correct area of that suburb
    What has the growth trends been in that suburb, ie Balwyn or Box Hill, where Chinese have bought. Will such trends continue?

    Should your search be more of a "15km from CBD ring" search. Where then you can start to develo some parameters around your suburb selection, do some analysis.

    Or maybe you just want to be on the "right side of the Yarra" haha!

    In all seriousness though there have been suburbs in the west that have outperformed the east, ie north Melbourne, (years ago strathmore), parts of Brunswick, thornbury, northcote, Preston, coburg, pascoe vale south, Footscray. But again there are many east side suburb with slightly higher price points that have done just as well.

    If it's a PPR sometimes there are other important factors that will hinder your investment decisions.

    For now, I think you should think about "what your motivation is behind wanting a PPR". Build your criteria around that.

    The east vs west debate is not really an investment property one, it's more of a private school boy thing.. Lol
    Best of luck
    GG
     
  4. EastOrWest

    EastOrWest Member

    Joined:
    5th Jun, 2016
    Posts:
    8
    Location:
    Altona Meadows
    Hi. Thanks for your response. Sorry for the vague question before. My main motivation is better schooling (public) for my 4yo child and also I travel to city for work. Also looking for area with lower crimes. My budget is about 900k for the property. Thanks