Melbourne in the property cycle?

Yep...nuff said!!!

 

Looks like every shopping centre in western sydney lol

 

My folks live at Lalor, its better than Broady imo, definitely has gentrifying over the years. Thomastown too, council has been very pro development and been actively trying to improve these 2 suburbs. Prices have been quite stagnant, but lately many houses at Lalor are sold pretty quickly, within days and weeks of the signs going up as i drive past them a couple of times a week. I like the area of Thomastown west side of high st closer to the station better, and the part of Lalor east of Dalton Rd closer to Mill Park.

 

I don't think the development will make a difference to the area still have the same people area and commission housing, I would see people break into cars, cars on fire and junkies shooting up. I think it's still cheap for a reason.

 

Why wouldn't it? Gentrification doesn't happen overnight, and have you even been there recently? I shop and eat there almost once a week when i visit my folks and i have never witnessed cars on fire, break ins or junkies shooting up. Its all a bit dramatic what you are saying. Go down to some inner city suburbs or the CBD and you would most likely find more drugged up idiots roaming the streets and used needles lying around.

Just look at some of the "cheap" suburbs around the country that has seen good growth and been good investment. They have all had good fundamentals and economic drivers, you just need to look past the stigma. Cheaper buy in prices also gives better yields and attracts investors. 15km from the CBD with good transport options, and also riding off the back of Epping which has had major injection of infrastructure spending and private sector investment. I don't see too much wrong with these areas.

I live in the north so you could say i am biased but i am just giving you my honest on the ground opinion. If you have been to Broadmeadows train station and compare that to Thomastown station and its surrounds, you may feel safer in Thomastown.

 

How is it dramatic? This is what I saw first hand while I was in the area, It's much safer in inner suburbs then Lalor and Thomastown. No matter how much money they pump into a area and make new stations the same people are still living there, yes I have been to Broadmedows station and Roxburgh park I feel much safer in those areas then I did in Lalor.

 

any insight on Deer park and Albanvale as they are both 18km from the CBD

 

Back to where the market is

I am currently building 4 townhouses in Thomastown, almost roof height, sold 1 OTP last week. Properties are moving in this area. Greatest demand is deve sites, though a nice townhouse close proximity to rail will sell very well.

I also have a deve site in Croydon, spoke to many agents in this area, it is still running very hot. Deve sites, houses, new townhouses are risen substantially over the last 12 months. Still some good buying in this area I believe.

I am not seeing a slow down but I am not on the ground.

I think we are at the later part of the cycle so you need to buy well. If you are buying with the intent to add value you need to have lots of fat in the deal to ensure if the market goes sideway the deal still stacks up.

MTR

 

I am watching my area like a hawk. Prices are going up, up, up!
Bigger blocks, over 900 square metres, closer to Rosanna are all going for over $900k.
Corner blocks are doing well. One 664m² block around the corner sold for $820,000 recently.
It seems like the pocket near Melbourne Polytechnic is doing really well. 2 sold recently for $800k (622 m²) and $668k (561 m²).
I'm really happy with that!

 

Like Brunswick? Where women were raped and murdered just recently? Or Collingwood, Fitzroy, Abbotsford? http://www.theage.com.au/victoria/inner-melbourne-worst-for-crime-20110920-1kjm8.html
You sound like a typical inner suburb snob, who thinks blue collar suburbs are always more dangerous. I would rather live out in the sticks than some of these expensive inner suburbs. I have found people less friendly and more selfish in some "posher" suburbs compared to outer suburbs.

Not saying i wouldn't swap my current house for one in Toorak though