VIC Melb - inner west or south?

Discussion in 'Where to Buy' started by jinx77, 25th Oct, 2019.

Join Australia's most dynamic and respected property investment community
Tags:
  1. jinx77

    jinx77 Well-Known Member

    Joined:
    8th May, 2019
    Posts:
    67
    Location:
    Thornbury
    First home buyer (professional 35yo woman, no family, one income) looking to buy an older, well-built apartment for PPOR and to possibly rent out in the future.

    There are a lot of appropriate and affordable properties in the inner-mid West (Footscray, Footscray West, Sunshine) and South (Caulfield North or East, Carnegie, St Kilda East).

    A lot of hipsters are moving to the inner West, so I believe it’ll soon become a buzz area. But the southern suburbs have more public transport modes into the CBD (eg: train and multiple tram lines) whereas the West is only serviced by the train and buses.

    Which area is better to buy in?
     
  2. The Y-man

    The Y-man Moderator Staff Member

    Joined:
    18th Jun, 2015
    Posts:
    11,409
    Location:
    Melbourne
    Pricepoint/Budget?

    The Y-man
     
  3. jinx77

    jinx77 Well-Known Member

    Joined:
    8th May, 2019
    Posts:
    67
    Location:
    Thornbury
    370K is my maximum but I’d prefer to spend 285-315K and pay off the mortgage quicker.
     
  4. The Y-man

    The Y-man Moderator Staff Member

    Joined:
    18th Jun, 2015
    Posts:
    11,409
    Location:
    Melbourne
  5. Khoed792

    Khoed792 Member

    Joined:
    24th Oct, 2019
    Posts:
    15
    Location:
    West Melbourne
    Don't go west.. There's a reason why it's cheap
     
  6. lettert

    lettert Well-Known Member

    Joined:
    25th Oct, 2019
    Posts:
    99
    Location:
    Vic
    Once the east west tunnel nears completion the west will become even more popular

    I live in the west and love it, great public transport where I live. I think some parts of Footacray are a bit iffy but check further out, yarraville-Newport/Altona/Williamstown are very family friendly. I’m not entirely sure but I think your money might go further here eg you could buy a villa unit on a small block rather than apartment

    Edit to add: you’re definitely right about the area being popular with hipsters lol. And Footacray has been transforming over the last few years, I’m sure it’ll be even nicer in a few years time
     
  7. TSK

    TSK Well-Known Member

    Joined:
    14th Apr, 2018
    Posts:
    625
    Location:
    VIC
    we loved living in Footscray. would move back in a heart beat.