Melbourne West or Brisbane

@OP it depends on your intentions. How long will you have it as your PPOR? Some people time their purchase with the cycle to buy when or before the market rises and they try to sell at the peak. Is that what you intend to do? In that case maybe Brisbane might be the option.

If you're going to live in it for 5 years, it doesn't matter too much if it's not booming. Eventually Melbourne is forecasted to overtake Sydney in population growth, it's a strong economy and has been consistent.

If rental yield was an issue, I would lean towards Brisbane but in your case you're going to be living in it, perfect opportunity to get into a city like Melbourne. By the time you rent it out, the rental returns may improve too.

 

?
I get out to Melbourne outer suburbs very often if that's what your asking?

 

Then ya should know not all are ****** halls....maybe they might not suit people who are used to seeing white faces everywhere....i went to Melton and boy has it changed for the better. To much BS about the Sudanese...saw a few there and no signs of dem carrying on just nice black fellas carryin about dheir business.

 

I like trees, water , hills ,.mountains
less people the better in general

one thing i do detest is houses that are joint together at the gutters, poxy excuses for green space, roads that have speed humps every twenty meters, houses where 50% of the frontage is garage

that's the shithall to me

nothing to do with black or white faces you muppet

 

Hmm......... another kermit the frog the bogan huh? .......

Don't make silly comments when you na nutin'........ are the same bloke who write the Strong money blog...stick to things you know......LMAO....

 

Never heard of that blog

 

Ok.... so ya know ****** holes in werribee...hoppers ...melton...bought for 130....170...155....now worth ...500....580....and 450k

Hindsight is a wonderful thung but wish i wouldchave bought more.

 

Well aware of the growth these suburbs have had but that wasn't the point.

topic poster was asking about best place to live with investment potential
My feeling is that at 500k Melbourne outer suburbs have peaked or very close to so why buy into it when you can buy in a nicer area, closer to CBD area of Brissy for 500k?

You yourself have even stated that Melbourne is peaking yet you come on here and start a ******* contest ?

 

Can't disagree with that....Melbourne has peaked.

But what I am finding interesting is that the vacancy rates are actually still low? Wow.....something like 1.6%....but returns are rubbish....on a 500k house you are getting about 3.8% in the outer suburbs.

 

For 500k, you mightn't get too much in Melbourne and if you do, it will likely be in not so great areas. Suppose you could get untis in better areas in Melbourne but will likely be small for that price and subject to oversupply issues.
You should be able to get much more in most inner and mid Brisbane than what you can get in inner and mid Mel for that price.
Brisbane is still a backwater country town and the prices reflect that. However, it won't be in the next 7-10 years, so getting in now would see a good growth story.
It goes without saying ..if buying in Brisbane, avoid flooed areas and oversupplied stock like cbd apartments.

 

I assume you are talking about apartments when you talk about inner city for $500k . I would not be suggesting op but an apartment , nest to go for a house on land as close to the city as possible. Although for that price not sure how close they will get (15-20km ?). Brisbane being a country town is BS. It’s not Tokyo but it’s not country town either . It has most of the conveniences of Melbourne but not as much pretentiousness (oh we’re so European) and much better weather . Employment , city changing infrastructure projects and migration are all on the rise . It’s a great place to love now but granted it will be even better in years to come.

 

If mid to high 500s is a possibility, you could get a house on a big block in Canberra about 9-10kms from the city

 

There is a holiday tomorrow. .so we can all go and cuddle sheep and watch livestock...might even be able to duel with 1930s Smith n Wesson revolvers..

 

Land tax is an issue in Canberra though right. No threshold?

 

What the???

 

I don’t want to be involved in your ‘cuddling’ livestock there are laws against that type of thing around here

 

Melbourne West for a few reasons:

-Heaps of affordable options sub $500k in Wyndham Vale/Werribee
-Lots of job creation with the Labor govt claiming they will spend a fortune on infrastructure
-Fastest growing state
-Werribee job precinct
-Transport upgrades
-Werribee hasn't peaked despite what the naysayers say in here. It's up again this quarter and will continue till $600k median price at least due to the fact it's one of the few areas first home buyers can buy with decent travel times to the city.
-Population growth in Melbourne's west outstrips any other area.
-Over $300 million in property projects ATM. (Commercial is a large part)
-Wyndham’s population will grow by an average of 10,000 every year for the next 18 years

Wyndham’s Population Outgrows Geelong’s | Wyndham City

 

kE

Keen to hear everyone's opinions on Brisbane's job/wage growth prospects. To me, this is the big question mark. Only a number of ASX200 corporates have their head office in Brisbane. (Suncorp Bank, Dominos, Flight Centre) Where else is the job growth coming from? Industrial/Manufacturing? If they are these industries, I struggle to see where the above inflation wage growth is going to come from.

See attached for an interesting blog post from Simon Pressley Brisbane, time to put your big-boy pants on - Propertyology

 

I don't know where you are getting your numbers from but I can say with confidence your 300M is way off.

 

....and who are you when you're at home? Just COMMENCING first half of 2018 and I see over $300 million. I can say with confidence that you're no voice of authority. Nevermind the figures from last year which show even more projects.