Melbourne

Hi all,

Would love to get feedback from Melbournian/interstate members who have an IP in:

• Corio
  
  
• Norlane
  
  
• Melton/South/West
  

I am looking at areas around the $250-300k mark (house 3 bd) in Melbourne and would love to hear what the stigma is from these areas. I plan on visiting to get a feel for the area however am based interstate. Any thoughts, experiences, articles etc. on these areas would be appreciated.

Thanks,

 

Both have various stigmas. Melton is more of a mini satellite town / ghetto surrounded by tonnes of land and more cutt off from nearby developed communities.

 

I've made plenty of commentary on Norlane/Corio, since i live in Norlane, and have done so since 2010.

These threads have lots of discussion...

https://www.propertychat.com.au/community/posts/351526/

https://www.propertychat.com.au/community/posts/315363/

They are just posts, but you can look at the threads involved.

Pleasingly for me, as a homebuyer here, Norlane's moving up! Just down the road from my place a new 2-2-1 on a half-size block sold for $315K, a house in Canadian Pde (Between Corio Village and the Princes Hwy) sold at auction for an imposing and probably record for the area $310K, and 54 Tallis St (2 B/R on a 777m2 block) sold for $300K.

The thing to consider is not so much proximity to Melbourne, but inner Geelong suburbs are flying, East Geelong and West Geelong, Manifold Heights, Rippleside are selling for over $600K. Norlane's just 10 minutes tops away from these, and there's still older places available for lowish-mid 200K's...although they are rapidly diminishing. But back in December a 2 B/R older house on a subdivided block sold for just $167K, and that was quite close to the North Shore station.

I must say, this for me is a very pleasing trend!

 

I've assisted interstate purchasers in all those suburbs. Securing quality tenants is crucial. Also a building and pest inspection is very important, especially for older weatherboard and cement sheeting/asbestos properties.

 

I personally wouldn't