Melbourne...the steady market in Australia?

Discussion in 'The Buying & Selling Process' started by sash, 18th Nov, 2015.

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  1. sash

    sash Well-Known Member

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    My one in Geelong's Armstrong estate was a very small double story...but my preference is definitely single stories as I believe they have the wider market and much cheaper to build.

    I think T/H products outside the CBD of Melbourne still has resistance of being accepted.

    Yes the "City in Bloom" by Stockland...infrastructure is years away..too far from amenities.
     
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  2. Lisa Parker

    Lisa Parker Well-Known Member

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    I agree, the estate makes a huge difference to the demand and rent. Are you targeting the master planned estates with provisions for schools, transport, parks etc? Multi-stage land releases over several years?
     
  3. Matt Hartney

    Matt Hartney Member

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    As entry prices are low at Cloverton and would be natural cash flow would it be worth buying a couple knowing that in 10 plus years the city will have some quality growth?
     
  4. sash

    sash Well-Known Member

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    Yes...but largely the infrastructure in most instances is there. But there is also additional infrastructure planned.
     
  5. HomeMinister

    HomeMinister Well-Known Member

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    north of truganina on dohertys road seems to be hot cake at the moment any new release is getting swamped and eaten especially large blocks. point cook is a gem years ago not sure how an ip costing 500+k with 3 to 4 % return make any sense to invest. rates + other charges are way high relatively and you add body corporate and its no IP land i believe.
     
  6. melbournian

    melbournian Well-Known Member

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    Body corp in point cook- i think alamanda has some a fee of $700. Featherbrook is fully maintained by council. Parks and landscape and the lakes are much more than what you would have in the east however 1K is still considered Ok. you can still get an IP for 380-400K smaller lot and do a volume build.
     
  7. HomeMinister

    HomeMinister Well-Known Member

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    smaller lots are great to buy for a reason, no one wants them. i see people buying 300 to 400 sized lots and build trophies on them which don't keep the invested $ for long.
     
  8. sash

    sash Well-Known Member

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    Not what I am seeing...these blocks are the first to be snapped up.....the downsizer and first home buyers are grabbing them.

    The ethnic market loves these blocks and the low maintenance which goes with them.

    An ideal compromise to the Villa or T/H without the Strata Fees.

    It is already the norm for 60% of estates to 250-350 sqm blocks.....
     
  9. melbournian

    melbournian Well-Known Member

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    They're 300sqm lots u can get townhouses for 330k on 230-270 sqm lots in pt cook

    I sold 2 lots so 185k each plus 145k full turnkey build which sold for 395k about 1-2 months on the market and that was last year
     
  10. Veech

    Veech Well-Known Member

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    Never thought I would see the discussion of Point cook and alamanda in investment forums.

    I did my ex PPOR 450sqm block for 150k in Jan 2008 (- 3k villawood returned if you become a member) as FHB. waited 18 months for land to be released with a 10% deposit. so its kinda OTP for land. I looked at Featherbrook as well at that time which has 25% open space but around 30-40k higher in price as well. Thought I will bank the difference and pay for estate fee which used to be 1000 per year and use the club facilities. my reasoning anyway. maintanence fee nowadays covers only for club and estate/parks are being maintained by council.
     
  11. fols

    fols Well-Known Member

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    @sash = part man. Part machine.

    Impressive stuff!
     
  12. Natedog

    Natedog Well-Known Member

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    Bought my first 705sqm land in point cook for $96k back in 2002.
    It's changed ALOT since then.
    When we built there were no schools and one shopping centre.
    It's amazing how much it has grown in that time, will be interesting to see it in 10 years time!
     
  13. melbournian

    melbournian Well-Known Member

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    Man that was a long time I only just got out of uni and started working then.
     
  14. Natedog

    Natedog Well-Known Member

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    Yep.....time flys!

    I was 25 and didn't even have a "real job" yet.

    Reminds me of a saying....

    "Most people overestimate what they can achieve in one year, but underestimate what they can achieve in 10 years"
     
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  15. melbournian

    melbournian Well-Known Member

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    Which estate?
     
  16. Natedog

    Natedog Well-Known Member

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    It was called Point Cook Gardens, in the patch between Dunnings road and Sneydes road just off Lennon blvd
     
  17. melbournian

    melbournian Well-Known Member

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    Close to featherbrook
     
  18. HomeMinister

    HomeMinister Well-Known Member

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    point cook is considered luxury suburb of west and it has more 2 storeys than any other burb in west and gardens and lawns are most cared and loved by its people. the ethnicity which loves smaller lots are marginal in this suburb and will eventually need larger lots due to social pressure and growing family pressure. i think in the end larger lots take loin share of growth. smaller lots do sell and will keep value for minority aslong as people dont leave burbs like they do jobs.
     
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  19. sash

    sash Well-Known Member

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    Nah mate....just lazy....:p

    HM it is about affordability and practicality.....you may not see it,,,but the trend is heading this way. Even in Geelong these blocks are now the most common....it has to do with the modern lifestyle. Sure some people want big homes...but based on the Indians/Chinese in the Southeast, North, and West they are happy to buy these lots.
     
  20. melbournian

    melbournian Well-Known Member

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    You realize majority of people coming from China live in apartments. To have a 300-400 sqm block is like luxury. I just came back from Korea last month and it is the same there. As mentioned before friend of mine purchased in point cook couple of years ago and only sold his larger lot as he separated from his wife for 15k more than he purchased 575k. It is better to be below the median or close to it