Hi, I am looking to buy IP in Box Hill. I have deposit around 50K. Can you please give me some suggestion? Thanks
$50k in Box Hill won't get you even a car park spot, let alone an IP. Or is there a typo somewhere in your question?
Buying in those tiny apartments in Box Hill will be terrible investment. Investing in shares make more sense but come with higher risks.
Never quite understood the fascination with really expensive suburbs like Balwyn, Box Hill, Glen Waverley, Doncaster etc.
Yep - not just the folks but to their peers. Peer pressure and "face" is a huge thing in (east) asian society. So the schools your kids go to, what unis they get into etc is a big deal, as well as living in a "good" neighbourhood (the merc/bmw is a given). Balwyn, GW and the EDSC zone (parts of East Doncaster and Donvale) come under this. Doncaster (proper) is not a school zone, but seen as a desirable sub with an existing community of Taiwanese (and associated eateries at shoppingtown). Box Hill is the outlier in this aspect - it is not a "prestige sub" as such IMHO. Much "grittier" - sort of an up market Springvale? But I suspect the people from the posh houses of Balwyn come to do their shopping at the market (in fact I know people living in GW and Doncaster who go shopping at BH). The attraction of having the shops at your door is what is being sold (of course I have a vested interest, having money in the centre that hosts the market, the bus terminus and station ) The Y-man
All of Y-Man said are correct. Go VCX my average 1.23 Asians always attract Asians, for food, culture, easier communication etc. It is totally understood as they come as minority in the country. Chinese they love suburbs on the high ground, get first hand fresh/rain water as opposed to low plain, you get last ran down water (but no, they don’t want to live in Dandy, safety first lol). Suburbs name like Hill, Mount(Mont) are desirable. And the street numbers, 8, 18, 88, 168, 888 as opposed to anything with 4(means death)
Lol not so much for the Chinese now(they used to 10, 20 years back) a lot of rich people in China it’s hard to brag so most rather stay humble. May be the newly got rich, or the Indians now Back to OP, I think Ringwood will be easier market to enter with almost the same long term potential
Damn...... I have been a long time holder (and haven't had cash to heavy up) so my avg at $2.87... The Y-man
I am assuming "deposit of $50k", so purchase price from $250k~$450k? Still, it will barely get a studio apartment.... The Y-man
Oh wow, I hope you can average down. Still solid company. But China trade spat is concerning short term. ADI is just as solid, safe locations portfolio, good recommendation!
Chinese market will certainly dent Emporium and Chaddy (to an extent) ~ but I think enough locals can ramp Chaddy up. I'd be more worried about the lease for Myer/DJs - need to think of a useful alternative to use the floor space with. On the bright side, got more regional exposure than SCG (but not as much as CQR) in response to Are more people likely to move to regional areas? The Y-man
To the OP - note from the banter between @Mulianto and myself that instead of resi, you could buy into Box Hill central! The Y-man
Sold 2123/850 Whitehorse Road, Box Hill VIC 3128 on 20 Nov 2020 - 2016547646 | Domain not a bad buy, build quality is OK, seems good value for what it and has views. I don't think many things in Melbourne at that price range is a good investment
I do I have lived in Doncaster for 30 years and its been great , good $ growth and very safe and the traffics not too bad and close to freeway , shops and schools . As far as safety go's its better now that the chinese moved into the area , I had problems with old aussies in the past in my street but now its better .
