Melton View

Discussion in 'Where to Buy' started by REinvestmentlearner, 1st Jun, 2020.

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  1. REinvestmentlearner

    REinvestmentlearner Member

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    I have been a long time follower of this forum. I am potentially looking to buy property in Melton/Melton South in VIC.

    Any views regarding this? Especially High St in Melton 3337
     
  2. Ben20

    Ben20 Well-Known Member

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    I would also like to know the answer for this.
     
  3. Tony3008

    Tony3008 Well-Known Member

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    Docklands, Victoria
    I've got a 4-bed townhouse on 400m2 just off the high street - bought it for the location. One dodgy tenant, since then it's done fine.
    Just a pity that in Melton the town centre and train station are 2km apart. In the next few years the rail line is likely to be electrified out to Melbourne so it will get (?) 20 minute Metro services instead of a more patchy V/Line service. Someone here might know whether extending electrification to Sunbury had any effect on its property market.
     
  4. Ben20

    Ben20 Well-Known Member

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    How long ago did you buy the property? In your opinion how much % capital growth has happened since then?
     
  5. Skinman

    Skinman Well-Known Member

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    There are a few on here who own in Melton myself included. Some have held for longer than others and done pretty well during the last cycle when houses went from mid 200’s up to high 300’s / early 400’s. Now back around the high 300’s again.

    I think you will get a better response on here If you share a little more and try to be a bit more specific with your questions.

    What’s you investment strategy and goals?
    What is it that has got Melton on your radar?
    Which other areas are you assessing it against etc etc?
     
  6. SMTY

    SMTY Well-Known Member

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  7. REinvestmentlearner

    REinvestmentlearner Member

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    The reason Melton is in my radar is because it is still affordable and can get good amount of land within reasonable prices.
    As far as investment strategy this is my first prooerty and its going to be an IP and looking for some good capital growth in next 5 years.
    I am mainly looking at Melton and Cranbourne
     
  8. Skinman

    Skinman Well-Known Member

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    If capital growth in a 5 year window is your primary objective it’s likely you could find better options. Generally closer to CBDs however this may mean sacrificing cashflow and increasing purchase budget. If either of these are a constraint then an area like Melton may be a good compromise.

    That being said better yield or cashflow at similar buy in price can probably be found in other areas such as some of the Brisbane suburbs discussed on this forum.
     
    SuOz likes this.