VIC Full VIC write up.

Great post @Jake Milne. Tonight I am catching the train from work to Boronia to watch a movie with a mate and you just made my 1 hour train ride bearable! Haha

If you would be willing to share, what specific data do you use for suburb analysis?

 

Thanks albanga, good to know that my writing is less boring than an hours train ride

Data sourced from a variety of places however the Census data (although quite old now) is really helpful. Recommend to any budding investor to get their heads around the Census TableBuilder to compare suburbs to each other. You can table things like median incomes/ median mortgage repayments/ unemployment and the like

Edit: I have a post on Somersoft with most of my information sources: Information Sources used by a Buyers Agent - Somersoft Property Investment Forums

 

great post @Jake Milne. thanks for sharing

 

Thanks @samiam I'm humbled by your appreciation, cheers.

 

Read the herald sun a few days ago and saw they're planning a super big tip around the deer park, turganina and caroline springs
will have to say truganina prices would be affected by this

The Tip proposal - Stop The Tip

 

Yikes!

 

I don't think Truganina will be affected as this tip would be mostly in the industrial area of Ravenhall. But still not good to have a tip.

Surrounding residents in Caroline Springs, Deer Park, Burnside and Albanvale will see their amenity destroyed and their property values plummet.

Community impact - Stop The Tip

 

No BS here, Melbourne is a brilliant at the moment.

Should I ask..... what is the avatar about????

 

A sales guy just told me point Cook land 350sqm goes for $360k.

 

Some Point Cook land can go for that yeah. $360k for 350sqm is on the high end must have been in a good location (or he's just overpricing). Smaller blocks are much more expensive per square metre so with that in mind you can pay a bit more and get 700 sqm for $450,000ish.

 

You can get a 600 sqm block with a 3 BRH in Laverton for that price. Bang opposite the same train station that services point cook
or
A 450-500 sqm block in altona meadows.

 

Thanks guys. If buying land, can you then sell it at any stage if I decide not to build? Probably not?

 

Depends on where you buy. Just don't make the mistake of buying land in an area with a lot of volume builders because it's likely that you'll never be able to sell without taking a hit. The reason being that large developers often give people incentives to buy such as "pay your mortgage" or "Buy now to get $XX,000 Rebate" so you'll have a hard time selling land against that kind of competition.

 

U have 2 Years to sell once it is titled as u're required to build . U can sell it anytime before settlement with the and/or nominees

 

Thanks!

 

Depends on which land estate it's in and what it says about reselling in the contract specifically

 

Yup was referencing mine featherbrook and others that I know of which is 2 years. Others maybe more or less.

 

I intend to make an offer on a property. Should I get B and P inspection report done before making an offer? There is already an offer on the table atm. I note the 3 day cooling off period.

 

If the property is scheduled for auction, yes. If it is private sale, no. You either put in a B&P special condition in the offer or you make it unconditional and have the inspection done during cooling off, depending on how much competition you're against.

 

In NSW unconditional offer waives the cooling off... Different in Victoria?