VIC Is Melton still growing (considering my first IP)

LOL - haha guess the insults come out when there is less substance - I understood clearly so I will spell it out again so maybe read what you wrote

"so my point is that going off history and the current market dynamics its likely that if you buy in Melbourne now you could have a period of zero growth."

is not some suburbs - is not coastal suburbs, is not northern suburbs, is not ACZ areas, is not western suburbs, is not highly sought after school zoned suburbs but "if you buy in Melbourne". ok maybe not geelong since it is regional. so yeah even a year 7 school person can comprehendddd from that statement that if you buy in Melbourne - you could have 0.0000% growth.

so it was driving to work to now is working for themselves - I didn't realize the goal posts was moved to a square field. there maybe the type of ppl there too but at least it is closer to so called employment opportunities or ACZs which is not relevant as some claim it to be

 

<Thread derailed>

Come on guys! @melbournian, mate you're too good to engage in all this.

 

Melton lost it's appeal when it went past 320k.

I remember 4 years ago it was Footscray instead of Melton. And Melton was now what Horsham is to everyone. When does it end? Never!

Soon enough it will be Horshams time, and soon enough Melbourne all over again. But Melton has already had it's time. They were 200k and now are far beyond that. Could they go even further? Probably but who cares.

Just don't do something stupid like pay 600k for bitcoin or even worse a house in Pakenham.

 

If you could take out the last two pages of rubbish then this was my sentiment in a nutshell. cheers

 

Yeah so is zero growth in Melbourne in a nutshell that is rubbish LOL

 

well melton was the last place to start growing so logically it might be the last to stop.
I just think it will be sooner than you do

as a side note, most people who work for themselves still need to get in the car to drive to work

 

Wrong again - some pockets will grow some will not just using one brush to paint the whole suburb - products like h&l will be capped at a price just like pt cook Werribee Phillips island. Suggest you read the Melbourne 2030 plan - is not that hard to read.

Making a bold statement that the likelihood of buying in Melbourne now will achieve zero growth is too broad a statement don’t u think?

My bad - Sorry was thinking more fruit plantations and chicken farms as business owners down in PI

 

I recently made the decision to sell a IP in Brookfield (Melton south) which I bought only a few years ago for 250k and just got 500k for it now so I was quiet happy with that growth... the land between Caroline springs and Melton is all getting built up now so for me I think future good growth will now be limited... currently upgrading my PPOR from my Melton return

 

Was it a rgz property?

 

No it wasent, just out of it, nothing is RGZ in Brookfield 3338 I believe last I checked.

 

That’s a very good price for a non rgz then assuming standard size - congrats

 

Bought my IP in Melton South last year around the mid to high $300s. Could easily sell for $500k or maybe even more today thanks to the huge block that it's on and with the train station, schools and shops being just a short walking distance away.

I don't plan on selling it anytime soon though.

 

I'm not really sure of my long-term plan. In the short-term, I'd just like to buy an IP in an area with potential for significant CG, and I'd like to rent it out for cashflow. I'm not thinking of any further IPs for the moment.

If Melton only has little growth left in this cycle, then I'm not sure if it's worth purchasing there if I have to wait 5-10 years for the next growth cycle, particularly since the rental yield in Melton South is not that great (from the research I've done).

If I purchase an IP, I would probably look at selling it in about 5yrs.

I am new to investing, so I'm doing my best to read/learn as much as I can. How can I learn about growth cycles so that I know when is best to purchase?

Thanks

 

stick to a RGZ property if you can get one.

 

You normally need to pay a premium price to get a RGZ property. What if in the future the council change it back to a normal GRZ? It happens in Wyndham City council.

 

not if you know where to look for. once it is gazetted - will required a lot to get it changed back surveys. if it was planned to be GRZ and then it didn't happen, then yes similar in darebin - many plots were supposed to be changed but some did on one street other side wasn't. Monash is currently planning to do changes now - on the whole sections in clayton off clayton rd towards the university. Some are selling as potentials. it needs to be in the title.

 

I see. The title need to show RGZ.

 

Is it still worth buying in Point cook established house not H&L

 

I had a look at East Werribee (Wyndham), but it appears there are no RGZs there.

 

Hi,
Is your IP in an RGZ?