VIC Melbourne's south west the hottest property market in Australia

Melbourne's south west the hottest property market in Australia

Melbourne's south west the hottest property market in Australia
A new success story has emerged in Melbourne's booming real estate market. The south-western suburbs have out-performed the rest of the country, with a staggering jump in prices in the past year.

42% increase over the past year, 12% greater than any other area in Melbourne. Mentions of hoppers crossing, Altona, point cook and Williamstown. And the population growth continues, let's see what happens next year.

 

42% in 12 months, stuff shares

 

right on the money @sash @ellejay for hoppers. what happenned to your mate retire whatever.
can said it is consistent this news artilce as i was def suprised when i sold my pt cook place -10 signed offers within 2 +weeks. ppl who go on the ground will know that queues to buy lots is a sign that something big is happening. this is dff to other parts of australia where barely anyone even rocks up to some auctions.

 

When you get emails like this at 10pm at night you know the train has left the station woot

 

Rezone to RGZ is nice too!

 

My thing with the south west corridor (in particular Hoppers Crossing and Werribee) is that the abundance of land out there. Is the massive percentage rise attributed to the fact that this region was undervalued/steady for many years and since major developers are there selling houses/land at higher price brackets, this had lead these regions which were undervalued/steady for decades to suddenly rise in value?

Applying the simple supply vs demand rule; there is enormous supply but is there really this much demand? Yes I've been to these raffles and I must say, there is roughly the same amount of people at these raffles for lots compared to opens i attend to in hot suburbs of Melbourne. Hiring a security guard to build hype is actually a very good marketing technique.

A quick search on realestate.com.au for rentals and houses within the region will showcase the abundance of supply

Furthermore, traffic is horrendous with the bottleneck around Point Cook (and all entrances leading to the freeway prior to this).

Sorry to be a negative Nancy however please, if somebody can convince me otherwise I am all ears.

 

just ripple effect for Melbourne markets. They may be some of last booming suburbs, catching up with the boomed suburbs.

I did not bother them. These suburbs may those of highest risk investments as they will be the first burst.

 

Wow that's insane!!! Where are the next best spots?

 

There are a lot of other topics which mentioned about Brisbane, Frankston and Perth. I do not touch South West Melbourne because they not meet all my basic investment requirements .i.e demand vs supply, scarcity, demography.

If you want quick cash, statically it is ok. However, for long holding, it is not my choice.

 

I'm with you there @PropertyInsight. Reason why I didn't invest in this corridor of Melbourne 4 years ago when I had the opportunity.

 

Also, this is ripple effect. It is too late to make quick cash as it has become news already. You must always go head the news if you want utilise ripple effect strategy to make quick money.

 

Just came back from Melbourne...people who keep saying there is lots of land in the West...have not idea what they are talking about.

Trying to get titled land is nearly impossible....the developers cannnot keep up with demand..and they are also in predicament where they can't turn up supply either....sure at some point it will get to $1k sqm...and it will slow down..but that is about 18 months away...

 

interesting - but i tthink there's where the mistake lies opportunity. there is far more happening in south west melborune than brisbane and perth.

 

so where is the best place to invest than? brisbane logan.?
what's worng with the demographics in south west melborune?

 

Follow the population growth/jobs and ripple affect. Think like a migrant just for a sec, you are coming to a country with another 100-150 thousand people. You want/need a home for a new beginning in this awesome country but your budget initially is limited somewhat as you work your career path along. You buy where you can afford.

Good to see Williamstown is on the list, I picked this along with one other suburb to be the best performer over the year. I feel a cake coming my way @big max

 

I agree with @sash . Land in point cook has crossed $1ksqm already and I think soon we will see this happening in adjacent suburbs.

 

As I mentioned, it may be ok to buy in SW for quick cash using ripple effect strategy. However, it is too late when it is on the news. If you buy in SW Melbourne now, you buy it at high price. It is a mistake.

 

It seems that you talk about buying a home to living with limit budget.
Buying an IP is different from buying a house for living.

Personally, with the same budget, I will invest somewhere else.

 

1. I do not have the best places to invest.
2. demographics: schools, factories (toyota closures), jobs, professionals, crime

 

Yet it was the best performing areas out of all Australia.