VIC IP Under $580K Outskirts of Melbourne or Regional

Hi, I am planning to purchase an IP (or two) in VIC each for under say 580K (excl stamp duty and other purchasing costs) in the next 3-5 months. My criteria are:
(1) descent socio-economic profile, with descent population of professionals
(2) Good infrastructure development planned for the next 5-7 years
(3) Relatively good capital growth - not interested if it has already peaked such as Geelong or Craigieburn
(4) Direct transport/trains to Melbourne city
(5) Availability of large blocks 550m2+

How about Melton, Gisborne, Werribee, Bacchus Marsh, Cranbourne North, Bendigo/Flora Hill, Wyndham Vale?

 

Bendigo, cheaper entry and good future ahead.

 

Bendigo is going well at present low vacancy rate strong capital growth. You will be able to buy in a decent area and a great property with that budget

 

Interesting how you believe Geelong has peaked but Melton, Werribee and WV haven't. Also, no one really knows if an areas has peaked or not, sure some could tell to a reasonable degree of certainty but that's about it. Anyway..

For that money, I'd be looking at:

Cranbourne - around the shopping center. Especially the area around Lyall St.

Frankston/Karingal - especially walkable distance to Karingal shopping center.

Geelong - Hamlyn/Manifold Heights. BPH/BP too perhaps. Buy as close to Pako St as you can. $580k could do well in Lara too.

Altona Meadows, close to the city. Laverton, maybe, but only if you find a cracker of a deal.

Ardeer. The area around Glengala shopping strip.