Melbourne - East or West

Hi,
Newbie in investing, been reading the post for while now
Thinking buying house around/less than $400K as IP. looking after for some CG & good yield
Narrowed down on few suburbs within my budget.
Need your opinions on these or any other suburbs within my range worth investing, planning to buy within 2 months.
- Officer
- Cranbourne
-Werribee (near station side)
-Hoppers Crossing
-Tarneit/Truganina

Thanks

 

I've just bought in Hoppers. I didn't do any of the leg work myself so can't give much advice other than the market sounds hot and I had to stretch above the $400 mark.

 

I would never live in the west, thus my money wouldn't live there either.

Stick to the east. Were civilized over here.

 

hmmm not necessarily true. Would you live in Dandenong Vs Williamstown? Or you live in Essendon (North West) Vs Doveton?

 

Really depends on the price I guess

In this case the OP only has 400K which in Williamstown and Essendon won't get you much more then a a studio/1 bed off the plan or a pre 1985 unit.

 

true - guess if it is dandenong vs werribee - i will take the dandenong.

 

Hi @Newbie , you have sdone good research ....i am als9 looking in that area. I believe tarneit already became expensive.

Under 400K , you wanna buy 2 small properties or 1 with good size. I prefer wyndham vale.

 

Why Wyndham Vale? Yes it's got a new train station but local jobs and shopping are limited. It's also further from schools such as Westbourne, McKillop or Werribee Secondary.

Though not necessarily shiny or salubrious, the triangle between Werribee Station, Werribee Plaza and Hoppers Station is convenient and has homes on good sized blocks. Land is also scarcer whereas Wyndham Vale has huge tracts off Black Forest Rd about to be developed.

 

Thanks for all your inputs

 

They are trialling this ferries. i took the ferry once from pt cook to docklands. pretty nice ride only letdown was it is 1 hour. if they can reduce the time - this would be a big boost compared to driving to the CBD during peark hour and would make it feasible for ppl working in CBD to travel quicker with less stress.

Ferry trial for Melbourne's west to begin in May

 

I've been following this. The ferry is a great trip and everyone should do it at least once.

But unless it can provide benefits over driving or other forms of public transport (as it does in Sydney and Brisbane) ferries will not work for the following reasons:

1. Speed restrictions in the Yarra make the trip twice as slow as trains. And that's not including the less convenient locations of both termini. To get to the ferry termini much of Wyndham actually has to drive past a train station. And Docklands is a fair hike from much of the CBD.
2. Werribee South isn't much of an atttraction and doesn't have a high dense population (unlike Manly or the riverside suburbs of Brisbane).
3. The fare is many times dearer than the train.
4. The ferry is an infrequent service with one trip each way (unlike Sydney and Brisbane where ferries work). The sort of people who would be willing to pay $20 each way for a ferry are in professional /management jobs where you don't just knock off at 5pm on the dot. Whereas both driving and frequent trains lets you leave whenever you want.
5. What if ferry services are disrupted? Your car is stuck at an isolated spot far from home.
6. The highest income parts of Wyndham (who might potentially take the ferry) are Point Cook and Sanctuary Lakes. Driving to Werribee South for them is backtracking.

Expensive, slow and infrequent. The ferry has succeeded in bringing publicity to the area but is impractical as a transport option for the vast majority of regular commuters. Consequently except when travel is offered for free (as it was yesterday) you will continue to see single digit numbers of passengers on the 400-seater ship.

 

That's where capital growth will kick in...