VIC How come melton is still so cheap?

Discussion in 'Where to Buy' started by Tommy123, 12th Jan, 2019.

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  1. sash

    sash Well-Known Member

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    I wouldn't recommend Melton at the moment either...but people said the same thing...in 2007...but I digress......
     
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  2. Qdog

    Qdog Active Member

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    Not people in general but creditable buyers agents who would never recommend the area at any stage. Can you make money in Melton, surely, does it stack up on paper, no way. It fails so many basic principles it's not funny
     
  3. SMTY

    SMTY Well-Known Member

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    Let me give you two examples.
    Melton South bought 2006, sold 2010 - 67% gain in 3.5 yrs with virtually no holding cost day 1.
    Melton - bought in 2007 - 4/3/2 below what it would have cost to build again 7 yrs after build. Neutrally geared due to depn from day 1. Slightly more than doubled based on Bank Val 6 mths ago over 12 yrs(was slightly higher 18 months ago, like everything else). Holding cost SFA.
    Never vacant for more than a week between tenants - no evictions needed.
    Would l live there, no i dont have to, but money to be made.
    Cost of new builds drives inflation of existing stock, reduced land size in new developments also.
    Would i buy there atm, no, not the right time in the cycle.
     
  4. Qdog

    Qdog Active Member

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    Smart investors can make money anywhere but very interesting to see once initial infrastructure boost wears off will growth plateau being so far from the CBD.
    I'm with you on that one, I'm definitely not going to live where my houses are. I'd rather live and rent where I could never afford the mortgage and invest the difference else where. I will never commute more than 30mins
     
  5. sash

    sash Well-Known Member

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    Ditto.....
     
  6. wilso8948

    wilso8948 Well-Known Member

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    Jeez there's some back peddling going on in this thread..
     
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  7. Qdog

    Qdog Active Member

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    Nup, speculation and timing the market is different to long term cap growth strategy.
     
  8. albanga

    albanga Well-Known Member

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    @Qdog im from Melbourne and am not a fan of Melton but the reason your getting attacked is your brand new to the forum and come in all gains blazing insulting people who I can guarantee you know A LOT more about property than you maybe ever will.

    This is Pretty much the best forum on the internet and TBH, behind your aggressive writing you actually have some valid points. Maybe just tone it down and I’m sure you will also love it around here.
     
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  9. albanga

    albanga Well-Known Member

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    As for Melton it’s great to have an opinion. That’s what OP is asking for. I agree it has very little scarcity and I wouldn’t be investing there myself.
    Others have done OK from investments there and I do believe long term it will perform OK.

    If my strategy was a 20 year hold though then I definitely think you can do a lot better from other areas.
     
  10. Frank M

    Frank M Well-Known Member

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    @Qdog without too much specifics where are your property and what are some figues. You seem to dodge that question
    Ive got 2x IPs in the western suburbs of melb which have done fine for me and 2x IPs in Brisbane
     
  11. Yinka Dare

    Yinka Dare Well-Known Member

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    I looked at buying there about 12 years ago. I didn’t really like the feel of the place back then and have not been back since. I also figured there was ample land available in the area which would limit growth
     
  12. Frank M

    Frank M Well-Known Member

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    Melton gets its growth from a ripple effect rather then a supply and demand point of view
     
  13. Qdog

    Qdog Active Member

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    Would that somehow qualify me in some way? No chance! Land banking is speculating (gambling) I'd prefer to go on more than a hunch
     
  14. Frank M

    Frank M Well-Known Member

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    Easy to point fingers mate, without any statistics and figues of you actually doing well in property, or even invested in property at this point as you've seemed to avoid any questions to your accomplishments and instead bag people through a screen. Before you start talking rubbish, lets hear some facts of your portfolio and then you can talk, otherwise your just a back seat driver my friend
     
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  15. Qdog

    Qdog Active Member

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    Cool man, great insight.. anything more?
     
  16. Frank M

    Frank M Well-Known Member

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    Haha nothing more, you've pretty much confirmed it all. Enjoy the back seat
     
  17. Qdog

    Qdog Active Member

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    Enjoy your "front seat" champ!
     
  18. Frank M

    Frank M Well-Known Member

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    Always !
     
  19. Mady

    Mady Well-Known Member

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    Melton is cheap and most affordable place in Melbourne, it will go up long term. Same think happened in Sydney’s shady & cheap suburbs few years ago...
     
  20. Air_Bender

    Air_Bender Well-Known Member

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    I personally can't wait for a hospital to be built in Melton. For years the locals have been voicing their frustration at having to travel to Bacchus Marsh or Sunshine to receive much needed care and it was very reassuring to see Labor commit to a hospital in Melton at the last election.

    I know it's still some time away but once completed this will boost the local economy in terms of employment opportunities and investment.

    Political parties commit to a new hospital in Melton
    Build Melton Hospital | Invest in the west