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

SW Melb is covers a large area with many markets. Not all markets go up at the same rate at the same time. There's still pockets of opportunity to make a decent gain in SW Melb.

With the right strategy it's a lot easier to make $$ in a rising market like SW Melb, that it is to try and time another market that may not boom for years..

 

Reference to OO's relevant as it's these peeps who are driving up the prices - you can see this when you're on the ground at opens. Perfect scenario in my opinion.

 

1. so really just a newbie
2. Well no different to some parts of Dandenong or frankston north. Schools plenty of them opening everywhere. more jobs more demands for services. Professionals plenty of them work in CBD.

 

The real MISTAKE is that those without foresight or intutition making predictions who didn't buy then . End of the day back then ppl bought and made money. whether it is 200k to 1 mil and that is a fact over presumption or fiction. Good on those who made money and maybe better luck to those who didn't.

There is a lot of plans maybe you wish to visit the Victorian planning authority to see what they are to have a better understanding of what is occurring in the area. Ripple effect yes but population growth is the biggest factor for these growth with affordability. no different to parts of western Sydney. There are are parts of SW Melbourne that will grow definitely whether it matches your strategy is irrelevant

 

Hi Melbournian

I do not try to convince you not to buy South West Melbourne. Each person has his own choice. all my writing above said that "I" do not touch these suburbs. It is my personal opinion. I may be wrong.

cheers

 

fair enough - and I am not buying SW Melbourne for myself at this stage - I have already bought, developed, rented and sold

 

you have already bought IP there before the price increased. So, you are very lucky. Well done! all the best to your investment journey.

 

It’s classic ripple effect. No one goes ‘wow I’d love to live in Werribee!’ When middle ring like Altona, which is desirable due to beach/ café/ city proximity, goes to $1m and point cook to $800k normal people with a family don’t really have a choice. So hoppers and wezza is where they go.

 

This is so typical of what happened in the Perth boom of 2001-2007, investors sleeping over to buy land. Some of the major developers actually banned investors from buying multiple lots of land. But we got around this.

Interesting times.

Just got to make sure you are not the last one holding the baby.

Not saying the market will tank, however from history highest growth happens close to peak when the herd jumps in. I don't have a crystal ball....

 

I'm looking to purchase there for quick gains to roll into QLD

 

go into SEQ - they have great sub division potential over there as well pretty low rates.

 

I will be but I want my portfolio to be across three states

 

Same happened in my area on the ponds NSW land lots decrease with each release and people who want in scramble over them. I was lucky to secure one in wyndham vale in jan and the land title keeps getting pushed back the demand is red hot

 

If either interest rates or unemployment rise, there will be a paradigm shift in thinking/confidence . Both are currently "as good as it gets" from an investment point of view....

 

70% of property purchases are people buying a house for a living, so you want your IP to be a place they want to buy, with their hearts not calculators!
Not sure about too expensive yet, we just bought at $282k. (Sure it's 'eastern Geelong' west Melbourne same thing....)

 

So right about demand being red hot. I think it's Jubilee or the other one closer to the trains where titles are at the end of 2019.

 

Exactly. We are moving to Melbourne and are just average income joes, with kids and a dog so how are we looking at it? Because you want normal folk like me fighting over your place. So we says, the wife and me, I want to experience the big city (we're country folk, yeeha) but we don't want to pay that much for a house! That's crazy talk! Heck Shirley down the road got hers for $200k! Where can we get close to the big city, but live and work like it's a regional town and have a good school for the snot noses and have some action nearby and a hospital for the missus to work in..... as much as I like to think I'm above average, I'm just like everyone else, average. So we see the best public school around is Belmont, Geelong. We can rent there for $350pw, hop on a train to the city for a night out and see them bright lights, choose to follow the Geelong Cats, and its got a mountain bike club and a water park and a sailing club on Port Phillip Bay! We can sail like posh folk! Once we've found our feet, we'll look to buy somewhere. If we're relatively rich we'll buy Belmont, if we're doing poor we'll buy Norlane. So that's why regional centres next to major cities are doing well, ordinary folk like me. It ticks our boxes and tickles our fancies.

 

I'm sensing if rates/jobs/migration increases stay the same, Geelong is going to kick *** next year.

 

Where in Melbourne did you end up buying @Barny ?

 

This is why approx 4 years ago when I was faced with a choice between a new house and land package in Williams Landing vs a house in Altona, i picked the one in Altona with no regrets. One of my best performing houses in my portfolio in terms of capital growth.