VIC How is Thomastown VIC areas around the station

Discussion in 'Where to Buy' started by James Baker, 6th Oct, 2017.

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  1. James Baker

    James Baker Well-Known Member

    Joined:
    21st Mar, 2017
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    Location:
    Melbourne
    A few properties around the Thomastown station have caught my eye
    A 3 Bedroom house is also available which is not yet advertised in Pioneer court

    They are available around the 600K price point, which I am looking for

    Any thoughts on Thomastown with regards to crime.
    I am mainly worried about that as we both may have to come back from office around 8-9 PM quite often

    I am buying this only with a view to use the Stamp duty exemption and the 10K grant as a first home buyer.
    So will have to live in it for a year atleast
    I will live in it for a year and then rent it out and let it be a IP

    Cheers
     
    Last edited: 6th Oct, 2017
  2. The Y-man

    The Y-man Moderator Staff Member

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    Never had problem in the area walking around on the weekends. Been a few times in the evenings, no issues. But I suggest going there and finding out at 9pm every night of the week (as it can vary) is the best way. Don't take other people's words for it.

    The Y-man
     
  3. The Y-man

    The Y-man Moderator Staff Member

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    Actually, it must be a relatively quiet area, because I have a unit in the area, and kept getting complaints form the other owners via the BC that the tenants (2 girls) were "too rowdy" :confused:

    Had to warn them on 3 occasions.... they eventually moved on.

    The Y-man
     
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  4. James Baker

    James Baker Well-Known Member

    Joined:
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    Location:
    Melbourne
    Is it still a good time to buy into thomastown?

    Have the prices already appreciated drastically?
    I will be paying 600k for a smallish 2.5 BR 1.5 Toilet 1 garage Townhouse
    Land about 200SQM
    I pay no stamp duty and will get a FHOG of 10K
    Is it a good investment ?

    This will never be my long term PPOR and after a year will become an IP
    So CG is an important component
    As you already have an unit here, what are your thoughts ?

    What is the genuine rental I can expect for this house ?

    Cheers
     
    Last edited: 6th Oct, 2017
  5. The Y-man

    The Y-man Moderator Staff Member

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    It has definitely moved (bought for under $300k in 2015, is now over $450k) - is there bandwidth above? I suspect so. Especially if you buy near the T-town station.

    The Y-man
     
  6. James Baker

    James Baker Well-Known Member

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    Location:
    Melbourne
    As I will be buying higher,

    Can I expect at least a 10% appreciation YOY ?

    Also any idea about the Pioneer Court Street area In particular ?

    Cheers
     
  7. The Y-man

    The Y-man Moderator Staff Member

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    10% pa is IMHO a very ambitious figure overall. I always go in with a 6% growth forecast, with anything above a bonus.

    Also, I just realised you are buying a new/near new, where a significant price factor has been factored into the selling price. In other word, you are already paying well above "market price". My rule of thumb for new properties is "expect no growth for 2~3 years" while the rest of market catches up (i.e. the new property "ages")

    For this reason (after trying OTP and brand new properties - refer my intro etc) we wonly look at "preloved" ones these days (for other reasons too as discussed previously across many threads).

    The rent will be about $320~$350 pw

    Nothing specific I can recall.
    The Y-man
     
  8. Konn

    Konn Well-Known Member

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    Location:
    Melbourne
    Raised here and currently still live here. Been robbed twice pre 2010. Auntie got robbed in the new area of Thomo ~2015. Friend that lives here also got 3 bicycles stolen last year from their garage, they attempted to steal a go kart a separate time but left it on the foot path close by. An up the street neighbour that just moved in with ~16-25 year old kids that are known for robbery and being c**ts in general, riding loud motorcycles up and down and around.

    Walking/doing regular things you will be fine. Got a racial taunt here and there when I was younger but that's pretty normal. Mostly left alone now, haven't encountered anything out of the norm in the last 5 years.

    'Thomastown 3074' Facebook page gives regular updates on crime around the area, the admins use of grammar reflects the general education level of the area.
     
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