VIC Melbourne is hot 2022

Discussion in 'Where to Buy' started by Squirrell, 22nd Jan, 2022.

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  1. rayan1910

    rayan1910 Active Member

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    Yeah that is true. Non-heritage also attracts a lot of buyers that want to build a modern home but at that point they are better of looking at Glen Iris.
     
    rayan1910, 1st Jun, 2022
    #221
  2. supersam80

    supersam80 Well-Known Member

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    Glen Iris is the same, once you move east past the alamein train line towards warrigal rd it feels like a very different suburb compared to closer in, and prices reflect that
     
    supersam80, 2nd Jun, 2022
    #222
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  3. Squirrell

    Squirrell Well-Known Member

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    And camberwell. Looked at buying a home there in an area described by a buyers agent as "Camberwell C" or "Burwood A".
    But prices von the fringe are still very exxy. Even ashwood is getting 2mill+ for some homes.
     
    Squirrell, 2nd Jun, 2022
    #223
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  4. supersam80

    supersam80 Well-Known Member

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    East Malvern too, with glen iris and camberwell they're 3 very large suburbs with huge price variations from one end to the other

    20 odd years ago almost half of what is now glen iris was Burwood - look at where Burwood train station sits on a map

    Re Ashwood, this went for 2.2 and looks like a very ordinary outer suburban cheap and nasty - 14 Silver Ash Avenue, Ashwood, Vic 3147
    https://www.realestate.com.au/sold/property-house-vic-ashwood-138984287

    Its large with a good backyard though
     
    supersam80, 2nd Jun, 2022
    #224
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  5. Squirrell

    Squirrell Well-Known Member

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    And burwood
    10 Meyer Road, Burwood
    https://www.domain.com.au/10-meyer-...tm_source=Android app&utm_medium=sharelisting

    Sent via the Domain App
     
    Squirrell, 2nd Jun, 2022
    #225
  6. Properwin

    Properwin Well-Known Member

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    Yeah that Burwood house is expensive for that area!

    Another very large suburb is Mount Waverley. Quite a lot of variation there too.
     
    Properwin, 2nd Jun, 2022
    #226
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  7. hieund85

    hieund85 Well-Known Member

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    And Glen Waverley too.
     
    hieund85, 2nd Jun, 2022
    #227
  8. rayan1910

    rayan1910 Active Member

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    Definitely many markets within every suburb. As squirrel said there are grades, the part of glen iris I mentioned is Glen Iris C. Which I believe is better from a streetscape/amenity compared to Surrey Hills C.

    Glen Iris B which is Glen Iris Rd to around Tooronga road is also a good spot and if you're lucky you can get quite decent value imo.

    Glen Iris A which is after the M1 on the high street side has a large price jump from B but can be great value as long as you pick the right pocket of it.
     
    rayan1910, 2nd Jun, 2022
    #228
  9. rayan1910

    rayan1910 Active Member

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    rayan1910, 2nd Jun, 2022
    #229
  10. Dmash

    Dmash Well-Known Member

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    Dmash, 2nd Jun, 2022
    #230
  11. MTR

    MTR Well-Known Member

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    MTR, 13th Jun, 2022
    #231
  12. Frosty123

    Frosty123 Well-Known Member

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    Frosty123, 13th Jun, 2022
    #232
  13. MTR

    MTR Well-Known Member

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    Someone here posted the difference between both and apparently domain provides superior detailed stats.
    I will try to find the post its not on this thread
     
    MTR, 13th Jun, 2022
    #233
  14. sash

    sash Well-Known Member

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    That is very telling they are expecting rates to be in the 4s for a very longtime that means RBA rate would need to be between 1.5 and 2% for a very long time. ;)
     
    sash, 13th Jun, 2022
    #234
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  15. supersam80

    supersam80 Well-Known Member

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    supersam80, 13th Jun, 2022
    #235
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  16. MTR

    MTR Well-Known Member

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    Oh, long weekend…. Not aware of this

    would most certainly impact
     
    MTR, 13th Jun, 2022
    #236
  17. Luca

    Luca Well-Known Member

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    The wind is changing however some properties are still selling well, I feel sorry for the buyers who think we are still living in 2021:
    https://www.realestate.com.au/property-house-vic-greensborough-139477691
    sold in the first week prior to auction at $1,331,000
     
    Luca, 13th Jun, 2022
    #237
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  18. Triton

    Triton Well-Known Member

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    Rosanna is a very good suburb for families. That house is in a very convenient location and had some high prices for development blocks last year. 1.2m was a decent buy considering smaller block and its on the low side of the street. This pocket is also not zoned to the sought after schools in the area.
     
    Triton, 14th Jun, 2022
    #238
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  19. Robbo80

    Robbo80 Well-Known Member

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    Thats right. Looking at current results won't tell you much as variable rates are still at emergency levels and we all know that people in general just borrow as much as the banks will give them with little risk management.

    Fed just put out 3.4% as their target and raised by 0.75. Expect the rba to trend in that direction until inflation is back down into target range. And yes house prices will in general fall if rates normalise, this is not rocket science.

    The rba no longer has your back. Adjust accordingly :)
     
    Last edited: 16th Jun, 2022
    Robbo80, 16th Jun, 2022
    #239
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  20. sash

    sash Well-Known Member

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    Ditto.

    To think that some people actually think the govt and RBA has their back is laughable.

    There were some on here who were calling rates increasing to 3%. It certainly looks like it. Next raise in July will take it to 1.35%. 2% by Dec is like a 80% probability.
     
    sash, 16th Jun, 2022
    #240
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