VIC Invest in Geelong suburbs or close to Melbourne ( Melton south)

Hi Guys

Could you please shed some lights on

1. Investing $500K in Geelong
2. Investing $500K somewhere close to Melbourne ( Ex: Melton South)

Which will grow more in next 2-3 years

 

No-one, I repeat, no-one can answer that question with any degree of certainty.

My smart-a** answer if you cannot decide is to buy one in each location. That way you have your bases covered.

 

Thank you for the quick reply.

What about long term say 5-10 years

 

Here's the moving median prices on both areas for the last few years:




I don't do predictions after the lines stop at today's date. You have to learn to make your own intelligent guesstimates for what happens into the future. Gurus get it wrong all the time. Be your own guru.

 

Thank you Alan

Which website I can access this chart ( I mean monthly breakdown)

Regards

Timo

 

It's a paid subscription site so you don't get access unless you pay $5+K pa

 

SQM Research is a great free resource on pretty good quality property data (charts only, no underlying data).

 

This is like asking what's the winning lotto number for next week...unfortunately like Alan said, no one knows.

Geelong has been going gangbusters in the last 12-18 months and now is trending steady. Whereas Melbourne is trending down. So my question for you would be, is now really the best time to jump into Geelong/Melbourne markets?

Cheers,
David

 

its hard to say as they have both had massive jumps.. how much can it continue going up at that pace?
Not too familar with Geelong though i do have some insight of Melton region as i have 1 ip also that i brought last May 2017 and that grew 100k in 12months big jump especially when the melton market didnt go anywhere for 10 years. Last couple years they have put alot of money into infrastructure to help that boom.

Though in saying that you can still get quality properties in melton/kurunjang for 400-450k so theres still potential

 

Hi

I had booked a 450k land and house package in Melton south in maple wood estate.

This is my first IP. Objective is if I can get a decent equity of 100K in 4 years, thinking of using that to buy a small house in Sydney for self living.

Am seeing both positive and negative views on Melton south

Negative view is about how much steam is really left for growth(it grew nearly 30% in the last year). So does it really have further scope of CG.

positive view is about train station. Shopping complex etc

Can some body share their views

The land had not yet come for settlement and so I still have the ability to exit if I get a feedback that further scope of increase in value is less

Thx

 

For it to grow 100k in equity, youd need 5% growth each year.

How much for left in growth will come down to supply and demand combined with affordability

Will it get 5% growth per year for 4 years probably unlikely but will come close

Melton south is trying to get a new hospital funded, if that get passed then growth should follow

 

Thanks Frank for the inputs.

 

Geelong likely has the most growth potential out of the two. Geelong is also benefiting from the inner city Melbourne slowdown the same way the Mornington Peninsula is.

 

It's getting really tough buying decent houses <$500k in Geelong. You might find yourself in Whittington or Corio and one has to tread carefully in those areas. Good luck!

Here's a tip, stay out of the orange/ red streets in the screen capture:

 

Hi Jake,

If you have one, can you please share a screen capture of Corio area similar to what you posted for Whittington.

 

Sure

 

You can get more information yourself from Get the facts the property ad left out and look at other areas in Melbourne for public housing as well.

 

Thank you

 

Thanks Jake. What does those colours indicate?

 

Red = more council housing/ public housing
Blue = less ^
Other colours sit in between the ends of the red/blue scale