long time lurker, first time poster im in the process of buying my 1st investment property, my absolute max is ~800 and was looking for at least 550+ sqm 3/4 bedrooms, relatively nicer area initially i had zeroed in on specific geelong suburbs - hamlyn heights, herne hill, newtown, bell park, west geelong, north geelong, belmont (essentially west & north of geelong cbd) but now i have come acros some gems in grovedale my absolute max is ~800 but ive found a property that fits my needs and is sub 600 few questions/concerns 1. not many ppl recommend grovedale? does anyone have any suburb insights of grovedale? are there many housing commissions around etc 2. specific areas within grovedale that should be avoided? (kinda like dont buy on planetary named streets in newcomb) 3. biggest concern i have is that i was looking at some capital appreciation stats in grovedale and its very poor as compared to the other suburbs in geelong - is it because it hasnt caught on yet? Essentially looking for reasons why not to invest in grovedale and stick to tried and tested suburbs Any and all feedback greatly appreciated
1) Grovedale borders on the new growth area suburbs Charlemont and Mt Duneed. A lot of people may choose to buy a newer house rather than invest in Grovedale. 2) There arn't the High level of commission like the Whittington (Planets) and Corio (Birds). Having said that there are small areas where the properties aren't as sort after. Grovedale nearing Waurn Ponds would be more sort after than closer to the Surf Coast Hwy in my opinion. 3) Capital growth in Grovedale.. Again if you are close to new development areas this would slow the growth. Marshall (next to Grovedale) has been developed already. Now with Charlemont, Mt Duneed and Armstrong Creek estates why buy old 3 mins from something new (people think..). Grovedale was also developed quite quickly so have many similar looking properties and dont have the charm for period homes that other areas have. Random stat Open Space Strategy (CoGG) stated Grovedale to be the 3rd hottest area in Geelong (Whittington and Corio) because of the lack of tree planted (Natural shade). Not a lot of thought went into this development when it was created in my opinion. I hope I don't you out of buying in Geelong as I really think 2021 will be a good year.
Hi abspls, Did you end up purchasing an investment? Would be good to hear if you got any feedback about the Hamlyn Heights, Herne Hill areas etc. Thanks!
