VIC Melbourne Property Market 2024

That is less than <18 km from the city and next to Glenroy. I own a place here, which is not different from any other properties I own. I believe what needs to be fixed for Jacana can be fixed over time as it gains attraction. Fundamentals are there except for accessibility via roads. I hate why they have designed the roads to this suburb that way. That is the only thing I would say negatively about Jacana.

I wont choose to live here though(for now), For investment, I will sure add another property here, if this crypto bull run brings some excess money. :

 

purchase $1.9m, renovation/extension around $400,000. Could pay more for build costs? Dependent on how lucky or stupid you are

 

there’s generally a premium on being close to a station. This one is just a bit too far to walk

 

Yes, priorities. It's why you wouldent buy a 150k car, when your house is worth 500k. This is the poor man's mentality, living in a dump with a financed car to show off.

 

lol you think these guys are financing their vehicles? okay.... I know a few and they're all cash buyers. This may be news to you but not everyone wants to live in the South, East or West.

 

I would love another.. especially that the vacancy rate is below 1%, it's a good time. Put another a granny on the back and have 2 places with yields >10%.

I look at the accessibility as an advantage. It is it's own pocket. Keeps it relatively quiet and reduces traffic. There's enough traffic that goes from Johnstone St to Glenroy as it is. The walkability score is very good and Public transport access is great too.

Also, with the revamped School for autism in the area, who knows, the Vic Government may want to pay a premium to either buy the houses or rent the houses from the private sector.

People are way too quick to dismiss the area... especially given you can buy a block of land over 600sqm for $550k, given the proximity to the CBD and the above. Each to their own, I guess.

 

People want to live in the north too, just not Jacana because it isn't anywhere close to gentrifying and it's got a terrible stigma attached to it which seems rightfully owned when you do a search on crime rates...

Jacana, VIC 3047 Crime Rate: Is it safe?

More crime than 85% of other suburbs.

 

Can the granny flat be rented to non family members in Victoria?

 

The new planning laws state that you can rent it out to someone who's not dependent on the established home. So yes.

 

People want to live in the north too, just not Jacana because it isn't anywhere close to gentrifying and it's got a terrible stigma attached to it which seems rightfully owned when you do a search on crime rates...

Jacana, VIC 3047 Crime Rate: Is it safe?

More crime than 85% of other suburbs.[/QUOTE]

• The number of criminal incidents recorded by Victoria Police in the year 2022 was 214, down 37% from 338 incidents recorded in the same period last year.

• Jacana is in the 15th percentile for safety, meaning 85% of Victoria suburbs are safer than Jacana and 15% of suburbs are more dangerous than Jacana.

• Common crime: breach family violence order.

• The number of assault offences recorded in 2022 increased by 27% (7 Incidents) compared to the previous year..

• The number of deception offences recorded in 2022 decreased by 59% (10 Incidents) compared to the previous year.

• The number of burglary offences recorded in 2022 decreased by 85% (23 Incidents) compared to the previous year.

• The number of theft offences recorded in 2022 decreased by 44% (42 Incidents) compared to the previous year.

• The number of robbery offences recorded in 2022 decreased by 100% (1 Incidents) compared to the previous year.

• There was no change in the number of motor vehicle theft offences recorded during the years 2021 and 2022.

This supports what PMs have been saying that the area is typically attracting young professional couples that rent for 3 years and then buy their own place. Definitely a gentrifying area.

Also from a pure numbers perspective, that's incredibly low. Thanks for the information, this validates my long term thinking.

 

From a numbers perspective, it's not low at all lol. It's in the 85 percentile, that means it's more dangerous than every suburb in Victoria except from 15 percent of them....

And that's with the decreases of crime from last year.

 

From a numbers perspective, it's not low at all lol. It's in the 85 percentile, that means it's more dangerous than every suburb in Victoria except from 15 percent of them....

And that's with the decreases of crime from last year.[/QUOTE]

40% decrease in crime. The trend is your friend

 

Using your logic, now do Fitzroy, Footscray and Richmond:

 

Live a street away from this house. Pretty good price for the buyer imo and if we were currently in a better buying position would have jumped at the chance to bid on it.

Fairview Avenue is a heritage listed street and one of the most beautiful tree lined streets in the area. Very family friendly and almost every house is being extended or fully renovated. This part of Camberwell was once upon a time Burwood but that was in the late 90's. Having lived in a different parts of Camberwell, Surrey Hills and Glen Iris over the years, I personally find this part of Camberwell to suit our needs the best. Very safe, quite, great local shops and an abundance of parks and playgrounds in walking distance.

 

Thx for the insight
Someone purchased very well

 

LOL! Better off not living or investing anywhere. Maybe Antarctica? Or will the Polar bears try steal my dinner?

 

The Toorak figure probably doesn't even include white collar crime and tax evasion either.