VIC Epping in Melbourne?

Discussion in 'Where to Buy' started by Amber83, 14th Aug, 2015.

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  1. Coota9

    Coota9 Well-Known Member

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    upload_2015-8-17_17-12-8.png

    Time to buy was in 2012,that said it is still below 2010 peak now
     
    Coota9, 17th Aug, 2015
    #21
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  2. The Y-man

    The Y-man Moderator Staff Member

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    I don't really look at the property cycle as such - my main criteria are:
    - is there good public transport access?
    - shops?
    - is there are crowd at the open?
    - how long on the market?

    The last 2 are the indicators for me of the prop cycle - but it also depends on the property itself.

    And it's easy to tell - if you go to the open for a property for sale and the agent looks lonely, that'd be a good start- either coolmarketor overpriced. Then go and check recent sales, medians etc an make your decision regarding pricing.

    The Y-man
     
    The Y-man, 18th Aug, 2015
    #22
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  3. The Y-man

    The Y-man Moderator Staff Member

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    In what way will you be burned?

    The Y-man
     
    The Y-man, 18th Aug, 2015
    #23
  4. Coota9

    Coota9 Well-Known Member

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    Coota9, 18th Aug, 2015
    #24
  5. The Y-man

    The Y-man Moderator Staff Member

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    ....oh and I never buy at auction.........

    The Y-man
     
    The Y-man, 18th Aug, 2015
    #25
  6. The Y-man

    The Y-man Moderator Staff Member

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    The Y-man, 18th Aug, 2015
    #26
  7. Coota9

    Coota9 Well-Known Member

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    Yer I told him he needs to paint that gold if he secures the place..lol
     
    Coota9, 18th Aug, 2015
    #27
  8. Amber83

    Amber83 Well-Known Member

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    worried about overpaying in a heated market, then prices dropping a bit once the heat dies down. pretty much all the houses in those areas are going for auction...
     
    Amber83, 18th Aug, 2015
    #28
  9. Amber83

    Amber83 Well-Known Member

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    thanks for the tips. im going to some open for inspections wed night so will have a better idea then. days on the markey in ttown and lalor are about 52, but seeing as most of them are going to auction this figure does not really make sense to me...
     
    Amber83, 18th Aug, 2015
    #29
  10. Amber83

    Amber83 Well-Known Member

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    where did you get this graph??! thats awesome. did you make this yourself?
     
    Amber83, 18th Aug, 2015
    #30
  11. Amber83

    Amber83 Well-Known Member

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    time to buy any property in melb was 2012! lol, that time has now passed, may never come again. if i knew what was happening with property in 2012, i would have bought somewhere like ringwood!
     
    Amber83, 18th Aug, 2015
    #31
  12. Coota9

    Coota9 Well-Known Member

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    Coota9, 18th Aug, 2015
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  13. The Y-man

    The Y-man Moderator Staff Member

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    Hi, I'm just trying to understand the risk you perceive here. Sorry if it sounds like prying, but would really like to understand.

    What is the consequence if you indeed "pay too much" and prices die down?



    The Y-man
     
    The Y-man, 18th Aug, 2015
    #33
  14. Amber83

    Amber83 Well-Known Member

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    I guess im concerned I could pay too much now, and then in a years time things flatten and I could have bought the property for less than what im buying now. the whole point is capital gain, so if i buy for below market value, im more likely to make capital gain yes?

    also, i explored ttown, lalor and epping today. epping is actually quite a nice area. its only five mins from ttown yet a lot less to buy houses. it has a lot of great infrastructure-heaps of shops etc, and the part near the reserve is nice. if you had a choice, would u buy epping/lalor/ttown?

    i thought epping was nicer than ttown. ttown and lalor remind me a lot of sunshine. my only concern with epping is will it rise in value in say, 5-10 years time? I suspect it will, but im only speculating. its still pretty close to the city; croydon is twice as far yet houses are way more exy!
     
    Amber83, 18th Aug, 2015
    #34
  15. The Y-man

    The Y-man Moderator Staff Member

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    I see, fair enough - but what if prices shoot up?
    I guess I haven't seen major property price crash in my investing so far, so I am a bit blind and ignorant of it.


    As others have said, the Lalor shops are a bit seedy, and in a weird location (between stations). T-town station at least has been redone, and the area near the German Pioneer settlement is nice for a walk etc.

    But yes, Epping offers the humungous shopping centre, hostpital (where nurses used to need a security guard to accompany them to their cars - not any more!), and station.



    The Y-man
     
    Last edited: 21st Dec, 2015
    The Y-man, 19th Aug, 2015
    #35
  16. David Le

    David Le New Member

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    David Le, 19th Aug, 2015
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  17. Coota9

    Coota9 Well-Known Member

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    Coota9, 22nd Aug, 2015
    #37
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  18. Big Will

    Big Will Well-Known Member

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    Just wondering how QLD got tagged on this?
     
    Big Will, 24th Aug, 2015
    #38
  19. Coota9

    Coota9 Well-Known Member

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    @Simon Hampel

    Fair point from Big Will should be tagged as Vic
     
    Coota9, 24th Aug, 2015
    #39
  20. Big Will

    Big Will Well-Known Member

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    Unless Australia flipped recently as I thought Melbourne and Epping were in Vic :p
     
    Big Will, 24th Aug, 2015
    #40
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