VIC Is Williams Landing still worth investing?

if WL had "balwyn high school" which only ppl who lived in WL then it would be some major diff btw WL and PC , but once that 3000 lots come in WL, Truganina, PC all would be affected. WLi s just like across from palmers and boardwalk bvld and to be honest, they're all the same. Unless you have something that really stands out ilke sancturary lakes with it's houses in btw the lakes and streams like in venice, there is minimal diff to PC and WL.Let's see what the population growths are like this year. only reason why PC and WL and rest grew was due to the population growth and ppl moving out to these estates as it was affordable.

 

i reckon the prices for these lots would be same as what one would expect in the PC or WL central hence people would move. you can get a 300sqm H&L 320-330K in werribee, as oppose to say now 300sqm (320K land as you said in PC and WL and 160-180K build) around 480-500K. Werribee still could grow to 400K but PC and WL are approaching peak prices as they could go altona or other areas to purchase if it is nearly 600K.

 

So is there still any point looking at Western suburbs? If WL, PC, Truganina will all be affected by the 3000 lots at the south of PC, Werribee would also be affected I suppose? People would fill up that 3000 lots first before moving to Werribee?

In Tarneit, there is also huge amount of land available (Westbrook, etc.). It will take ages to absorb all the land in the West before suburbs like WL and PC would make real CG. Is that what you were suggesting?

 

When Werribee grows to 400K, and PC and WL grow into 600K, Altona would be 800K. We cannot assume that Altona stays the same price range, so people can still buy 600K in Altona when WL and PC are 600K

 

@Nesta I appreciate your passion and you have definitely done your research but the fact is no matter how many ways you try and spin it that as an investment to most people on here atleast WL simply doesn't make sense.

I have said it on numerous posts but take your 650k and go shop in Melbournes North West.
For that price you can purchase a large block and some absolute pearled suburbs which already have key drivers in place not "when and what if's". I also think people tend to forgot how pivitol the Tulla widening is going to be and it's already 50% done! Driving into the CBD from areas like Tulla will be done 10 minutes faster! You will literally be able to drive into work in 15 minutes. Go East and tell me what you will pay for that luxury??

 

Depends on your time frame Nesta.

We bought a 705sqm block of land in Point Cook as first home buyers back in 2002 for....wait for it.... $96k....cheeeeeeap. And then built a BIG 34 sq single storey home on it with really high spec for a total of $335k house and land.

Back then point cook had nothing.,...just the tiny little sanctuary lakes shopping centre, but the area had "potential".

We built and lived there for a couple years before moving back to the south east.

We sold last year after 13 years...we almost doubled our money....so nothing exciting in terms of capital growth.

As a conparison In hindsight we could have bought a house in Glen Waverley for about the same $$$ value (obviously not anywhere near the same house size or standard) and probably quadrupled our money in that time!

The extra land supply that can be created in new estate areas will really impact the level of your future capital growth...always has and always will.

Until maybe 50 years into the future when PC and WL are considered middle rung Melbourne.

There are better "investment" options... I agree that land prices on the fringes are inflated at the moment.... But I could be wrong

 

Appreciated your thought. But we have not been talking about investing 650K in WL...

 

First paragraph states a 448sqm block in WL are now selling for 480k,so by the time you but an average house on it you are looking at 650k plus.

 

Apologies if this is causing any confusions. I referred to 448sqm blocks in WL just to say that all blocks large or small are expensive in WL.

The following discussion was all about 300sqm + house.

Please look at all the discussion after the original post.

 

i think altona depending where it is like the espandale is already million+ like 1.7 mil for beachfront view. Or course everything will grow to some extent but if you do realize pt cook WL was like very average growth ard the 2013-2015 and really only moved in 2016 as other suburbs got more expensive. it went from high 300Kish to high 400-500Kish for those 350k+ blocks). Demographics are diff though in PC + WL vs Altona + Newport , as long as population keep growing in Melb, it should be good - I build a few blocks in PC but looking to offload them now as I think it is at a peak. For 600K you can go to other suburbs where infrastructure etc has already been established.

 

Well.. thanks. But I'm not sure if PC is at a peak as you suggested. You've already made considerable CG in PC. Yes PC may not soar in price soon again like last year, but just because it soared last year doesn't mean it's at a peak and will never grow further. Selling costs may outweigh the possible extra gain if you were to sell and buy somewhere else.

 

But we are talking about property investing.
What are you suggesting then? Buying some land in WL and land banking it?
You realise you need to put something on it, dont you?
So by the time you purchase the land and then plonk a house on it then we are talking 600k.

Without re-reading the entire thread perhaps you could tell us in a simple paragraph what exactly you are asking? From the jist I got it is you were keen on WL and have since defended that in a number of posts.

 

@Nesta are you confident in WL after doing your DD? If so, then the above discussion is pretty academic in nature. How much more room for growth is anyone's guess. Developers are the ones releasing land at different stages, dependent on their view re demand. From the buyer's perspectives, demand for properties may depend on several things: developer's promotions, marketing strategies, planning of shops etc, how other suburbs pricing out potential buyers and renters etc. Will you be happy with the rate of CG? Will you be happy with the yield? What's your strategy? You have to decide what you look for in a product. What would be the worst case scenario? Have you spoken to buyers in WL recently?

 

Thanks, basically I've been asking for insights on WL and PC. Land banking in WL a few years ago would have been a good idea, but as you implied not anymore. Apart from general insights, I also asked about a specific type of property (300sqm + house 3-2-2) in WL. That was it. And no, it wouldn't be 600k, but may be low to mid 500k. Yes it is still lots of money so I'm keen to hear what other people think from different perspectives.

 

Thanks. What I didn't mention is that I'm looking at WL not just for investment reasons. I'm aware that for pure investment WL won't be the ideal place as the prices have already gone up much, and cash flow won't be too great. So I am preparing for the worst scenarios by asking people from this forum who I know are mostly investors looking at numbers, but that's the kind of comments (worst case comments) I also want to hear.

 

I sold out in Doncaster to come to Point Cook X 3 IPs. IF you take examples of the east, when prices do become more expensive it spreads out further. I am not saying it it will not grow but it will just be the very average growth following on, so why would you want that ? if you can make higher gains in suburbs where you can buy properties that can be easily subdivided why not? (in PC and WL there are convenants that restrict this 20-50 years) Also look at when box hill&Doncaster became expensive, it spreaded out burwood, burwood east, Blackburn, donvale, mitcham etc. It is inevitable that the further out like werribee if it is lying at 300kish will grow much better than PC and WL atm (as more people can afford it) end of the day, you're looking for the best performing IP from CG and yields?

I buy and sell all the time - makes no difference to me - there are always opportunities elsewhere that can be looked at.

 

Thanks. My strategy is buy and keep, of cause for areas with good potentials.. If I were to buy now just for investment reasons, I would go for Harpley or River Walk in Werribee and keep it long term.

But of cause many strategies can work and I'm sure that your strategy has worked well for you.

 

If you're buying for PPOR or to stay - yeah just buy where you want to stay or feel comfortable.
My strategy didn't actually work - doncaster would have still beaten 3 PC ips in that time period.

 

Not actually PPOR.. but yeah not 100% IP either. I wanted to hear comments from different perspectives especially from the pure investors point of view, just to prepare for the worst

 

I wouldn’t buy in WL. My parents bought in PC back when it had dirt roads, they put 1k down of their own money, based on $ per sqm they’ve made 100000% on their investment. I don’t see anything like this happening in the foreseeable future.


Have you looked out past Craigieburn? I think they’re seeling H&L for under 300k