Melbourne...the steady market in Australia?

If you're looking Casey/Cardinia area Beaconsfield Upper is solid

Tight supply, incredibly high rental demand, high rents, hasn't moved yet. Always moves after the others throughout my history. All the speculators are probably not buying there as it has apparently gone up "33%" according to SPI, ksou and other popular search engines. however the houses there range from 500k to 2ml, in rather even proportions. Only 12 or so homes are up for sale usually per year and this distorts the median. The median changes with every individual home sold lol.

It's a bit different though to your average suburb, no infastructure itself it's a heritage area. 90% or something of homes in the area are owned, if rates rise prices aren't dropping any time soon!

From an investor perspective it's in the bush, however currently ridiculously cheap compared to all the surrounding suburbs.

 

It's lovely but had bush fire risk and is more of an owner occupier product to me.

I love harkaway as well.

 

Didnt even know about Beaconsfield until reading this thread. Thanks for sharing.

 

Beaconsfield is in between Berwick and officer.

Upper Beaconsfield is up the hill has a more country town feel like an Olinda.

 

Yep...the sweet spot in Melbourne outer suburbs is the 350-450 product near amenities. Oh it has to Torrens title.

Lots of people are worried about small houses...have a look at the demographics....there is huge demand from downsizers for small houses - typically 2x2x1 or 3x2x2 or 3x2x1 with a small garden.

The demand for this product will be huge in next 3-5 years. Have a ready about what Bernard Salt is saying.

 

This is a good point I have mainly been squeezing 4/2/2s onto 10.5x28-32 blocks, but I also have some 8.5x28s I will be putting 3/2/1s on when they title.

I agree there is and will be a strong demand for 2/2/1s with retirees and single parent one child families. The only prob is you need to find a small enough and rea cheap enough block to make it work. Otherwise it's worth spending the extra to get another room if it fits.

 

Projects by LGA announced in Victoria's Budget yesterday.

Explore The Budget By Council | Victorian Budget 2016/17

 

http://www.theaustralian.com.au/business/business

Interesting article by Bernard salt referencing growth in the west

 

can't read. not a subscriber.

 

Neither. I followed alink there and was able to read it. But now can't weird.

 

I believe auction clearances still the highest in Australia.... nice to know.

I also think the interest rate drop is going to keep the shine going, good one for property investors.

MTR

 

I am also thinking about the opportunity when the music does stop.....all those people who buy in and can't service loans when rates eventually rise to something like 6.5-7%.

Work the numbers....a jump from 4.2% to 6.5-7% is something like a 55-65% increase in repayments.

 

75% Clearance Rate on 1308 Reported Auctions is definitely good.

Auction Results Melbourne - Property Prices & Sales Results in suburbs beginning with A | propertyDATA.com.au

 

I always have plan B, have a bet each way, I am not greedy, happy to hold and happy to sell and balance the books and keep the stress levels down. My blood pressure is excellent these days...LOL

 

What I think is winter in Melb may slow down slightly but this Spring/Summer its a bull market (sellers market)

 

Yes...agree...I trying to get missile lock before I sell some in Melbourne based on the last cycle....they will have doubled in 9 years...ok nothing to write home about but I keep most of the profits.

 

Hey Sash,

As I understand you are a developer. Have you noticed much development action around outer suburbs of Melbourne? I was thinking about 100+ dwellings built or there abouts, if this is happening around the outer suburbs, this might be a good sign?

 

What about markets within markets , would this time after boom really affect even the outer suburbs of Melbourne?

 

Last few months Frankston has been doing very well. Stock is low, vacancy rates are low, rents are up, sales volume is high and prices are getting higher. Not sure how long this will last but I'd say it's on for young and old in Frankston about now (apparently some other outer suburbs too such as Geelong).

 

Thanks , will look into it.