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Melton South - investor buying groups

Discussion in 'Where to Buy' started by sash, 30th Apr, 2016.

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  1. sash

    sash Well-Known Member

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    19th Jun, 2015
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    Sydney
    Hi All,

    I was looking to off load my Melton South property as it has almost doubled now.

    So I called a couple of agents and asked a whole slew of questions. Apparently...Dream Properties and the Right Group are all over the place along with mom and pop investors. Very little stock now under 250k and owners have started adjusting their expectations.

    This is great news...it shows what Sydney investors can do to a suburb!

    The other thing is some of the new developments only 3-10 minutes up the road are helping Melton along.....these developments in a lot of cases are starting from the low 4s.
     
  2. the world is your oyster

    the world is your oyster Well-Known Member

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    victoria
    How long have you had the property for now sash ?
     
    JZ93 likes this.
  3. ramssss

    ramssss Member

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    12th Nov, 2015
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    Location:
    Melbourne, VIC
    I wonder if the price gap between old stock (eg. 20 yo dwelling) in Melton South (250k ish) vs new H&L packages (350k ish) tend to diminish over time?

    I've purchased and built on infill land development in the past, older/cheaper property in the same area "appear" to grow higher % wise due to their low starting base. Need to find some long term data to test that hypothesis.
     
  4. strongy1986

    strongy1986 Well-Known Member

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    24th Jun, 2015
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    VIC
    No need to hypothesize

    Thats how it works

    Land appreciates (or stays constant) , while buildungs depreciate
    So in 30 years when both are old houses they will be worth the same
    Look at house prices in more established suburbs - a house built in the 60s is worth the same as a house built in the 80s or even 90s
     
  5. sash

    sash Well-Known Member

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    9 years now......has now gone from 155k to 275k....waiting for it to hit 310k and I will sell...
     
  6. Cactus

    Cactus Well-Known Member

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    18th Jan, 2016
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    Location:
    Melbourne
    Why sell?
     
  7. sash

    sash Well-Known Member

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    Location:
    Sydney
    still undecide. prices out there are definitely moving