VIC Has Glen Waverley plateaued? Possibly downward trend?

Discussion in 'Where to Buy' started by willister, 24th Jan, 2017.

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  1. willister

    willister Well-Known Member

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    I visit my folks every Saturday and whilst going for a run around the blocks, I've noticed a lot of houses either being empty. My dad says many that are put on the market now stay on it for a very long time before being sold, fail at auctions to meet the reserve or those that are eventually sold take a very long time.

    I've always considered GW to be one of the worst bubbles out there in Vic. Yes, it has a well regarded school, arguably the best train line in Metro Vic and a lively town, but honestly, 2.1mil for a 700-800m2 sq block is a bit too much.

    Mainland Chinese seem to be less interested in GW than say Balwyn North?
     
  2. rjw180

    rjw180 Well-Known Member

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  3. The Y-man

    The Y-man Moderator Staff Member

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    Disagree! Guy at work was always either complaining of delays or sometimes didn't turn up as too many cancelled on the line (ok, it could have been him, not the train!). I reckon it has problems second only to signalling faults at Caulfield. :oops:

    Belgrave/Lilydale line for me any day! :D (uh ok, so they're digging it up right now and the service is a bit disrupted...) :p

    The Y-man
     
  4. Natedog

    Natedog Well-Known Member

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    I would guess the new tighter restrictions on getting $$$ out of China would have more of a negative impact on Glen Waverley than many other suburbs
     
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  5. Ko Ko Naing

    Ko Ko Naing Well-Known Member

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    +1 to this comment.

    Being a regular commuter on Glen Waverley line (not that I want to), peak services are too crowded. Express services are close to non-existence. No way of getting a space in the car park at 7 am.
     
  6. TMNT

    TMNT Well-Known Member

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    I visit glen every now and again because I have friends who insist on going there but I hate it.

    Other than the school it's a disgusting area.
    Springvale road is horrible
    The glen shopping centre. Need I say more
    The Kingsway strip is nice
    The train seems to be like any other line. No different to box Hill.
    But other than that there is nothing remotely attractive to me
     
  7. Omnidragon

    Omnidragon Well-Known Member

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    Mainland Chinese can't get their money out. Forget about GW. I know properties in HK that are around $1-2m, they can't even get the money over there and have to default on their deposits.
     
  8. The Y-man

    The Y-man Moderator Staff Member

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    Hey what's wrong with the centre? :confused:

    The Y-man
     
  9. Pixie

    Pixie Active Member

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    Always have thought the centre is a little daggy :)

    It's due for an update
     
  10. The Y-man

    The Y-man Moderator Staff Member

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    Might have to bring it up at the next shareholder meeting! :oops: Money mostly going towards upgrading/extending Chadstone... :cool:

    The Y-man
     
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  11. JK200SX

    JK200SX Well-Known Member

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  12. TMNT

    TMNT Well-Known Member

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    It's disgusting. Old. Run down. Tacky. Gloomy

    From a million dollar median price perspective.
    It's still better than some of the western suburbs or south east ones.

    Doncaster shopping town is gorgeous compared to the glen. Even though I never go to Doncaster
     
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  13. The Y-man

    The Y-man Moderator Staff Member

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    Yep fair enough :)

    The million dollar median has helped the glen's valuation to come in at $340m so not all bad news!

    The Y-man
     
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  14. lidz

    lidz Member

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    The Glen shopping centre is in the early stages of a $500M redevelopment.

    I rented in G.W. for the last several years before we bought our ppor & to be honest the only issue I had was the changing look of the suburb housing wise, the number of knock down rebuilds was huge & you were almost guaranteed to get a huge bland cube that filled the block on all 4 sides.
     
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  15. craigc

    craigc Well-Known Member

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    As lidz mentioned - starting Glen renovation at David Jones end. Some stores being closed to make way. TBC but I believe it is extending and then also building a residential tower on top of it near the High Street Rd end.
     
  16. Ko Ko Naing

    Ko Ko Naing Well-Known Member

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    Brand new Maccas is already running on the other side of Springvale road. But to me, Westfield Knox is going to be a lot bigger than the Glen and a significant upgrade around the area.
     
  17. TMNT

    TMNT Well-Known Member

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    Walked through their again today

    Still not convinced if I had the money I'd buy here.
    Much better options for this price range in my opinion

    Springvale road is yuck.
    You simply don't get that suburban feel as with Doncaster.

    Nor the hipster/cultural feel of say camberwell etc.

    Obviously must be the school thing which I don't have to worry about as my kids take after me