VIC Melbourne: Are these good suburbs for investment?

All are good. I like Sunshine most

 

Hi @Rasheda

I think you're asking the wrong question. You need to more clearly define what you are trying to achieve. Too many suburbs in Melbourne with different things going for them. You'll give yourself a headache trying to choose a suburb unless you have a clearly defined outcome and a clearly defined set of resources you have available to you to get you there.

 

Hi Air_Bender, why would you cross out Thomastown and Lalor? I have them on my list although to investigate so would be keen to hear your thoughts. Jackie

 

Hi Jackie,

Personally I don't believe it's safe enough to purchase a PPOR in these suburbs. Although they're slowly gentrifying crime is a little too high for my liking. Look up some of the stats from crimewatch.

Just before the new year I was walking up the stairs at Thomastown station when I was almost knocked down by a man running in the opposite direction. Once I got to the top I saw a few people huddled around a girl in school uniform who was clearly in a distressed state. Apparently the guy knocked her to the ground and stole her phone in broad daylight. What astounded me even more was the number of people standing around who didn't bother running after the man.

If I were looking to buy an investment property here however, I wouldn't hesitate. I'd jump in if I had the opportunity. It won't be long before we see the effects of Reservoir's rising prices ripple through to Thomo and Lalor.

Good luck.

 

Thanks Air Bender. Yes I think that Thomastown and Lalor will receive a trickle down effect from Reservoir. I will go and have a look at these suburbs as I am not very familiar with them at all. That is one of my concerns and I want to ensure that the tenants will be OK if I buy a property in this areas.

 

"Safe enough"? What are you talking about honestly!!!!
More likely to have a home invasion in Sandringham than Lalor or Thomastown, with APEX Gang and what have you..

Your post made me scrunch my face up. Think you should look at the growth stats for Thomastown of late. As for Reservior, there are different segments of it, Regents Park area, but I'd rather be living in "unsafe" Thomastown than the commission Park of Res...

 

Okay first of all, relax! There's no need to get riled up about my post.

You can 'scrunch' your face all you like but this was purely my personal opinion.

There was absolutely no mention of growth stats of the suburb nor did I make a comparison to Reservoir. And I never said there was no crime in other areas. I have no idea where you're getting this from.

Jackie asked why I wouldn't want to live here and I simply gave her MY honest and personal opinion. I have no issues with you expressing your opinion and why you think I'm dead wrong but I don't appreciate the attack. Last I checked this was an open forum.

FYI- I actually do agree with you that there's good growth in Thomastown, hence why I encourage anyone looking in the area for an investment to jump if they have the funds.

Ta

 

Don't worry about the troll. He has posted nasty personal attacks about me purely because of where I live. I wouldn't put too much stock in his opinions.

 

What's the best way to go about accessing proposed RGZ areas? I've been googling it and found a few councils which have maps on their site, I can't seem to find it on the Whittlesea council website though - is there a central resource that might have this information?

I never realised that this existed and is the reason why St Albans has sky rocketed. Looks like the rationale for RGZ is to allow for apartments & multi-unit/shared townhouses -do councils ever switch back from an RGZ to a GRZ/NRZ when enough building has occurred?

 

The only places that have reverted is like upper end areas, kew, mt Waverley, balwyn, deepdene mont albert to reduce the amount of density in the area and to retain the values. There was a guy who had an apartment permit some where in armadale or Windsor etc I believe but didn't renew the permit when the new zones came in hence what a 20-30 apartment permit became 2-3 townhouses only.

Changes are done with planning admendment with approval form the minister
Changing the planning scheme

got a friend who bought in mt Waverley and it become NRZ and he's been trying hard to get it changes with no success (and it is very unlikely to succeed)

u can access it through the planning schemes

just had a look pretty average in whittlesea

 

@G-Dubz

what would be even better if you can research which areas would be rezoned into the Activity Centre Zone (with a RGZ). One poster here has that in sunshine. Maybe whittlesea may redo the areas above. who knows

http://www.dtpli.vic.gov.au/__data/...8552/PPN56-Activity-Centre-Zone_June-2015.pdf

 

Thanks. That's really helpful.

It's just that some real estate agents are now speculating in the property ads about Thomastown becoming RGZ - not much evidence of it so perhaps a bit misleading?

 

this was all rezoned last year I believe seems like just to high street (after the thomastown primary school) and following up the markets in lalor

 

It's probably a two year Council process to change a General Residential Zone to a Residential Growth Zone. Keep an eye on Council websites and what they are doing public consultation about. They'll always develop a Structure Plan before any major rezone, and the Structure Plan will indicate what big changes the future might hold. But you have to be careful because the State Govt has to approve the rezone, and they may tinker with boundaries or refuse the whole thing.

 

That's why it is key to read and research. I'm not buying in thomastown by looking and reading it is not that hard to get that info. These zones have already been approved and gazetted so anything would be a planning admendment.

Gotto read the master plan though it is 1200+ page doco. just filter and search

https://www.whittlesea.vic.gov.au/media/2045/master-plan-for-thomastown-and-lalor-shops.pdf

 

wow that's great thanks, I must have missed that!

 

@Melbournian where is the link to the first table in your post just above? I clicked on the link you had, but only took me to a 144page document.

Thanks.

 

Hi

Have you thought about Werribee and sourrounding area, Properties are booming in these suburbs