Hi all, We have about $500-550k to spend on a buy/cosmetic renovate and hold, and have been researching Melbourne - inner west which is obviously growing. We were planning on going closer to $625k but have just decided to be more conservative in case lending restrictions change. We were originally looking at West Footscray, Footscray etc however to find a house in a good street within walking distance from the train station is not possible on this budget. We've also been looking at apartments in small blocks/villa units in places like Yarraville and Newport but I'm concerned that they haven't had much growth over the last few years compared to houses (which are more in demand in those areas and make up a much greater proportion of stock). We could go further afield a la Sunshine etc but I'm concerned about the growth we might achieve in the shorter term (1-2 yrs) as we will need this to be able to release equity for our next purchase. The question I'm asking myself is should we move out to the next ring and aim for a house or townhouse or focus on a good quality apartment/villa within the 10km radius.