VIC How come melton is still so cheap?

Well it's not exactly what I was hoping for when I saw the premier upload a video about Cobblebank (most likely site for the future Melton Hospital) but it's still good to see investment in the West.

https://www.facebook.com/video.php?v=344772342882677

 

U also need to factor in the lack of sales due to some major reason
- election
- CGT threats
- finiance
Track the next 6 months Iam sure you will see some positive results not like the last boom but some positive news

 

Melton & Kurunjang is a good pocket to invest if you want to get in sub 500K and have decent rent / cashflow. I have 8 properties, Melton has returned the best growth in percentage terms. The tenants have been paying on time and property management company has been good. Probably buy decent house in the area to attract decent quality tenants.

Overall happy with Melton area, upside is that it's one of the cheapest suburbs in Melbourne. FHBG for sub $600K property will keep the growth going in this area. Hard to find a family house in Melbourne sub 600K.

 

I think it is still quite easy to find a place sub 600k on the west side. Deer Park, Kings Park and St Albans are still all sub 600k.

 

Melton looking like prices are starting to recover already after the small fall in value over the last 6 months or so were the median had dropped below $400k again. Also looks like number of sales and demand picking up. If this recovery continues I feel Melton will do as good as if not better than the overall Melbourne market.

 

Cobblebank Station is up and running. It's now time to finally get a hospital in Melton.
Glad to see the Mayor is on the same page.

https://www.facebook.com/video.php?v=561754964616882

 

I think our Premier is a quiet member on this forum. Literally 24hrs since I posted the link above Labor has just announced the long awaited new Melton Hospital... Finally!!

https://www.theage.com.au/politics/...3-p53g9i.html?js-chunk-not-found-refresh=true

This will be a major 24hr hospital and will create a lot of job opportunities for the people of Melton.

 

I got excited before I read the article...Well not quite announced but a step closer which is great.

Let’s hope it isn’t too long before a business case is approved and actually funding allocated.

 

Having been around Melbourne on and off for almost 6 decades, my non-expert advice would be to not let it stop you.
Eventually the "overflow suburb" factor will have an effect, and the prices there will go up.
I can remember when the East side of Stud rd in Rowville was paddocks, and then houses started being built - around early-80's - it was the end of civilisation.
Houses were ~$100k then - now have a look at it.
My opinion? pick a very good location and start getting ready to buy.
Will it go up quickly? I dont know, but it will go up.
Some of the most unlikely suburbs with poor reputations have done it.

 

Melton has plenty of supply and developers could build to Adelaide if they wanted to. Wouldn’t touch Melton for capital growth. Sure you will get a bit of growth but better options.

 

This point has been discussed previously and the majority is in agreeance. The idea is to purchase an established property close to all the amenities like the train station, schools and shopping centre (like myself and others have done). I would also argue that out of all the Meltons the only one I would consider buying in is Melton South for obvious reasons.

 

It had over 70% CG in under 2 years

 

It had. Cannot see it doing much for a long time. Wait until developers release more land to build and demand will drop.
Then the demographic living in that area is also generally not the most desirable.
I guess if you need to get I to the market it might be a decent option, but cannot see much happening there in the short term

 

Average Melton weekly income is about 780 dollars. 60% growth in 5 years.

The weekly income is enough to put me off.

 

What app/site is that you are using?

 

Melton is a great place to live. All facilities are available. Close to city with a country feel. A big shopping complex at the city centre. Disadvantages - no metro service, hoon drivers, Nasty unscrupulous petrol pump operators who keep prices up compared to city and beach and universities far away. If you would like to see how beautiful the township is visit Search Results for “melton” – ToMelbourne.com.au

 

agreed, ******* end of the earth!