VIC Melbourne suburb investment 500k

I am trying to get everyone's views on Melbourne investments up to 500k-525k
Looking for a house with view for capital growth being the main focus with yield not so important
I have read the frankston vs broadmeadows threads and all other
Areas I am looking in are:

Frankston
Lalor/Thomastown (if lucky)
St Albans (if lucky)
Albanvale
Jacana
Broadmeadows
possibly Frankston North (thoughts?)

Or a house on 300-400m in
Boronia
Mooroolbark

What would everyone's pick be for future growth in Melbourne for next 2-3 years

 

Also add any other suburbs I could look at!

 

Go to the west instead, that's where the higher growth potential is.
There are plenty of threads on these already. Have a quick search on "where to buy" forum.

 

When people say West are we talking:

West: st albans, sydenham, kings park, deer park, derrimut, Sunshine west(may be out of price range)

South west: laverton, werribee, hoppers crossing, point cook

North West: Broadmeadows, Jacana, Gladstone Park

 

I would go with the first category but many of it may already be out of your price range. Probably need to up it to at least 600k to get a better selection. I think Sydenham (around the station and shops) is quite underrated

 

Thomastown/Lalor hands down...... but its already moved significantly and the competition will be fierce.

I do like Broady, but it would need to be near the rail, good size development block, in one of the better Streets

OMG, just checked this, I once owned on this Street, very good...... wow prices gone up, however this block is unique larger than most. Nice deve block.... If looking at developing at the moment it would probably be a land bank at this point in time, doubt the numbers would stack up

144 Cuthbert Street, Broadmeadows, Vic 3047 - Property Details

 

Wondering if you have any thoughts on Sydnenham for someone who is not from Melbourne?

Would you know off-hand a few of the plusses and minuses of there (besides price differential) compared to say kings park/deer park?
Or is it much the same just slightly further out and not yet risen as much because it is slightly further out and the boom has not yet reached there?

 

I also like the west and have been looking in this area. Whats peoples thoughts on Albanvale. Seems you can still get something there for $480-510k.

 

Lately my investor clients are buying in Jacana, Lalor, St Albans, Carnegie and Heidelberg.

Owner occupier clients are buying in Boronia, Bayswater, Ferntree Gully, Noble Park, Mooroolbark and Bayside suburbs.

 

It is worth looking at Thomastown / Lalor / Epping, because:

(1) The Government and council are pumping in a lot of money into Epping

(2) People who are being priced out from Rezza and Preston are moving north

(3) There will be strong population growth in the region

(4) It's relatively cheap given how close it is to CBD

However, with a budget of 500K, it may be tough to get a house near the train station in Thomastown / Lalor as the prices have moved significantly.

If you want to buy a house near the train station, then you should consider Epping.

 

I think 500k for a property in Epping now is going to be challenging as well. The market is moving really quickly.
Thats why Ive started looking at Kings Park and Albanvale

 

How is the suburb of east cranbourne.

 

I think you've missed the boat on T-Town, was there about 2-3 weeks ago, now well into 700ks but I guess relatively larger blocks. Tried St. Albans? Distance is roughly the same as T-Town - 18kms but West. School is up and coming, town looks vibrant and lively. Still can nab something in high 600ks or low 700ks within 1.5km from the station.

I'm surprised - Heidelberg? Do you mean Heidelberg West? Heidelberg is much more expensive and frankly I can't see much gains...

Hey mate, don't quote me because I've not visited Sydenham since the early 2000s when I was living in St. Albans and visited the Watergardens Shopping Centre but back then and I think even now there is probably some land left to develop?

If I must buy in this WHITE HOT market, I'd be gambling on Kings Park instead. Deer Park may be a dark horse though having said that - there is a station so thats the hard bit done for trains. It's currently on V/Line to Southern Cross, but who knows one day if cards fall into place, would it have a metro line to the CBD joining Sunshine or even a shuttle to Sunshine may be good?

Kings Park is still 500K-ish to 600Kish and nearish to St. Albans - the next Sunshine. Line is underground, town centre is vibrant and flourishing, 18kms from CBD, looks good in my books compare it to something like a Clarinda!