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
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
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
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