VIC Ellarook or Albright Estate – Truganina - Western Suburbs Melbourne

Hi All Friends and Property Experts

I am looking to purchase a block of land between 350m2 and 400m2 in Western Suburbs of Melbourne for Investment Purpose. The intention is rent and hold the property for long term ( 8 – 10 years)

Seeking expert opinion as I am really confused between two estates given both have similar amenities and proximity to the proposed Truganina station.

Any advice/ ideas / thoughts would be greatly appreciated.

Be the first to register for house and land in Truganina | Ellarook and Albright Truganina

Albright appears to be developed / owned by Oliver Hume and Ellarook by Intrapac Property

Thanks

 

I am no property expert nor connected with any developer but I’ll share my perspective because we also recently looked for lands for sale in Truganina and in the end went with Albright.

Ellarook and Albright are both relatively close to the future Truganina train station and have similar walkability but we went with Albright for these reasons:

• Developed by Villawood which has better track record and has more developments, one of which is the Alamanda estate in Point Cook
• Closer to other train transport options while the Truganina train station is not yet built. The existing Tarneit and Williams Landing train station car parks are full by 7:30am. The alternative beyond 7:30am is to get pay parking at Williams Landing or park at Laverton station where free parking may be available up to before 9am. Albright is closer to both of these options.
• Albright is closer to the future Forsyth Road extension and when this is built, the way to Williams Landing train station or Princes Freeway is even more accessible. The Forsyth Road widening project south of Sayers Road will also commence soon addressing existing peak hour bottleneck/jam issues.
• Upon onsite inspection of the current site in Albright, the roads and cross-overs are well-built and foot paths have accessibility features.
• Coming from Dohertys Road to the estate, the land is slightly elevated creating a slope which in my view adds attraction and desirability because the west is mostly flat.
• There are two bus stops to be built on Alcock Road so the estate is accessible via bus.
• The rest are also mentioned in their website like the approved government primary school and the community activity centre.

Hope that helps.

 

I'd say that you're very brave to be considering these options right now

 

I'm puzzled as to why you have limited your investment choices to only these two locations?

 

If you are interested in the area why not buy an established house on 600m2 land in Werribee or Hoppers Crossing?

 

Thanks Becs for detailed response. It certainly does help.

@Climbom- Just wondering why would you say this ? Being brave? Do you think we are at peak even in western suburbs of Melbourne.

@JacM – To be very honest I am not a seasoned investor and this would be our first investment property. In 2012 when we bought our first owner occupied home.. I was looking at Truganina, Tarneit and Williams Landing ... And ended up purchasing a property in Tarneit on a block of 448m2 for $380K. similar properties back then were available in Williams Landing for $400K to $440K which are now valued around $700K due to train station proximity to freeway etc .. and my home is currently valued around $550K .

I have a feeling ( I could be wrong) that these two estates has similar growth potential and its right time to buy ..

Any advise or suggestions of other locations is also appreciated.

@Gtwon – Yes this also an option but im finding it hard to find any properties under $550K with large block of land

 

Have you decided on which one yet?

 

No.. still looking at options..

 

I am now also considering Elements Estate in addition to Ellarook and Allbright.

Allbright has most of the lots sold out and sizes available do not suit my requirements so its out of picture.

Just seeking advise in regards with capital growth and rental prespective .. would it be ideal to purchase a 350m2 lot of $340 and build a house worth $230K or purchase a 400m2 size for $365K and build a house worth of $230K.

With the proposed development.. do we see land prices still going up in next 1 -2 years ?

 

Hi Summithunter

I would wait until the future of the tip only a few KM's from those estates is decided. It is very possible that one of the biggest tips in the world will be built very close to them

this site has a bit more information

Community meeting - Stop The Tip

 

Albright, Elements and Ellarook are all a safe distance from the Tip. Estates like Westbrook (and Stockland's Mt.Atkinson estate) will be pretty close to the Tip, if it does get approved to be bigger.

 

Yes.
Growth in the area has been quiet this year. But in the next 12 months, this pocket (corner of Woods Road and Dohertys Road) is expected to have a boom of construction with 3 major estates there (Ellarook, Elements, Albright) all issuing the bulk of their titles. Truganina is a big pretty suburb. Following research, I can vouch for this pocket. But can't comment on the rest of the suburb.

Plus a shopping centre with a Coles now seems to be in the works in the same corner.



Quite likely to see the proposed Truganina train station coming up in this same pocket (3-5 years or more? Knowing how slow PT infrastructure moves in VIC, the station will be a while away...)


Renting out will be a bit of a pain if you are buying for investment. Bit of housing oversupply with all the development happening at once.