VIC Footscray vs Preston vs Coburg vs Heidelberg

Hi all

As background, I'm currently looking for a house as a PPOR with a budget of around $800k.

The suburbs mentioned in the title have been mentioned from time to time as "up and coming" suburbs with bright futures which are still somewhat close the CBD.

I'd be interested to see what people's view are on these suburbs and other suburbs that are at similar stages and which ones people think are the most attractive or have the best scope for growth in the future.

Or alternatively, are they no good and would I be better off going for a cheaper apartment in a blue-chip inner-east/inner-southeast suburb?

Thanks!

 

Definitely Footscray! If you're concerned about distance to CBD it's got the others covered by a fair way.
Footscray --> North Melbourne --> City Loop
Most services (all Sunbury/Werribee services) skip South Kensington station.
7 minutes from Footscray to Flagstaff, 11 minutes from West Footscray to Flagstaff.

The other suburbs are highly overrated IMO.

 

Coburg is not overrated.
OP doesn't specify if they are looking at north or south of Bell St.
South (cityside) of Bell St is great in my opinion. Plenty of period homes, tram lines, stations, access to northern subs such as Essendon etc and also Brunswick eateries etc.
just not sure $800k will buy you anything great in that pocket.
Then again $800k in Footscrazy won't buy much either at present.

 

Detached houses in Heidelberg sell for well over 1M. Small 3bed townhouses can be found for 800K.

I would go for Heidelberg Heights (a very different suburb to Heidelberg) if it is walking distance to Heidelberg station. That's if you don't have / don't plan kids. The problem with all listed suburbs is the schools. Imho, too much public housing around makes for schools below average.

 

I would go Preston - (why? redevelopment of the market - will be similar to south Melbourne markets, increased employment in the 1000s due to this) redevelopment of northland new infrastructure coming in etc. Huge Asian demographics moving into the suburb (just take a drive down high street).

Forget about those people talking abt public housing old houses - take a drive to chadstone, ashwood. Even balwyn & balywn north has housing commission houses too which was the no.1 or 2 suburb last year. Also take a look at Ringwood (when the mall got redone, highway, and lots of Asians moving into the suburb due to being priced out from doncaster etc).

 

I've been tossing up mostly between Footscray and Preston. I like that Footscray is closer to the city, I'm more familiar with the area and I'm also a bulldogs supporter haha. However, the central Footscray area still looks a long way off other suburbs of a similar distance from the city.

I don't have much experience with Preston but High St and the market there look a bit more attractive at the moment.

 

Hey man Footscray will always keep on improving. I know people from super rich areas in the east that are cashing in and buying huge fancy homes in Footscray. Things will just keep getting better and better (conversely house prices will be getting higher and higher). Look at neighbouring Sunshine 5 years ago compared to now. Look at neigbouring Yarraville 5 years ago compared to now. I understand that the Scray is a little more rough around the edges than Preston but you can't say the same for Yarraville. And it's like 2 extra stations after Footscray, with double frequency because both the Werribee and Willy services run through the station.

 

both are equally good if you ask me just a matter of price and growth objectives, development wise etc. High St Preston is no different to Station St in box hill some 10+ odd years ago. Also the shopping area, market is a bonus. Currently all the auctions are dominated by greeks and Italians and they are holding this market up on its own as oppose to foreign investors. Footscray in my opinon is more expensive that Preston. You could also consider something in Seddon or Yarraville like a workers cottage etc.

 

Yes yes yes. 800 should go far in Yarraville.

Reserve at $800k:
41 Gent Street Yarraville Vic 3013 - House for Sale #123592814 - realestate.com.au

Predicted $650k plus:
13 Richards Street Yarraville Vic 3013 - House for Sale #123589806 - realestate.com.au

$830k-$910k close to the station:
199 Anderson Street Yarraville Vic 3013 - House for Sale #123688414 - realestate.com.au

$700k-$750k close to M1 and parkland:
224 Roberts Street Yarraville Vic 3013 - House for Sale #123670686 - realestate.com.au

$770k+ near Cruickshank Park:
117 Roberts Street Yarraville Vic 3013 - House for Sale #123682166 - realestate.com.au

There's a property to suit everyone in OP's budget in Yarraville. Victorian, triple fronted brick, fifties weatherboard with a terracotta roof. Go crazy boys and girls.

 

Thanks for all the advice guys. I actually would really like to live in Yarraville and Seddon but thought the houses there were more expensive than Footscray.

 

Sorry but I have been tracking Yarraville for a while and I don't think any of these properties will go for <800k or even near that number. For instance, 41 Gent Street sold for $1.35m last weekend.
13 Richard may sell for less than normal for Yarraville, only because it is facing the cemetery.

I have a budget of 800k and hoping to buy in Footscray/Yarraville/Seddon/Kingsville - just that house prices have gone up a lot and these areas have become unaffordable and out of reach for that budget.

 

That's really disappointing, it's a top notch area though, and you can see why so many are flocking to live there.

And don't you just hate how agents don't list properties as sold until way after the fact? Got my hopes up for a property on Church St in Geelong West, only to find out it had been sold

Edit: How about properties on roads like Francis St and Geelong Rd? I saw a couple recent sales for good-ish prices. I know main roads aren't as desirable but I actually prefer them, no need to burrow through endless suburban streets to get home.