My expierence of Albion (Sunshine)

Ok I have sort of being living in Ridley Street Albion (near Sunshine) for 7 months. Here are my thoughts on the area.

POSTIVES:
Near public transport
Has a variety of cheap restraunts.
Close to the city and pay less than anywhere else that close to city and transport.
Has most shops needed everyday within walking distance.
A short drive to Highpoint if the shops within walking distance don't serve your particular need at that time (IE. Myers, David Jones, etc)
interesting people live here.


NEGATIVES:
Hear planes at midnight.
area is dirty (though is improving slowly).
interesting people live here.

 

Is this place any good for old units near the station/s ?

Who is living/renting in the cheaper end of the market, i.e new migrants or just unemployed locals.....

 

There are plenty of older units near the station. Seems to me generrally migrants are renting these units. As an investment my only concern would be the number of older units in the area. There are heaps. However they are cheap to buy.

 

Sounds great. The only thing that might never change is th e planes @ midnight. Is there a particular nationality group or is it a real mix?

 

Well, they are OLD....so unless being swamped by new, like in other places, may still be ok ......

I guess, even if new, they cannot drop rent to meet old 1970's units.

I am asking questions, because in Sydney, there were places like this, got rid of one and thout it was sale of century, but 10 or so years later, has easily tripled.

 

It is a mix however there seems to be three major groups

1) Vietnamese (biggest group)
2) Indian
3) African

The aeroplanes don't really bother me. If I'm not asleep and trying to sleep I'll hear one or two, but it's no big deal. Sunshine does lack any decent bars, pubs or clubs though. So no real night live.

I can see genterfication starting with some nice cafes, but it has a long way to go with genterfication and it would be a real shame if Sunshine lost its charm because of genterifcation. IE. cheap restarants, sweet shops. Also there is a great African coffee shop that I believe serves the best coffee in Melbourne in Sunshine.

Albion is just residental with a a few shops (not many) on Perth Avenue. However we are just across the road from Sunshine so it is no big deal not having any shops in Albion for us.

 

Where was that?
I have a lot of time for old units near the staion with migrants renting.

Just read your post @pickle pickle . That's a very good mix. Very good.
As for the planes, I guess I could get used to it at night. I do notice when I visit my friends in Marrickville, though, that you're talking and just get drowned out by the noise. You just have to wait til the plane's gone. And you look up and see it passing overhead - it seems almost too personal. But I love Marrickville.Would definitely live there. So I might like Sunshine too.

 

Sunshine has got the Foundry apartment complex just built or being built (which is close to the shops near Ballarat road) and there is a huge apartment complex going to be built on Wright Street (in my opinon it is too far from amenities. I read recently that Albion units are the highest renting yielding units in Melbourne. You can get a 2 bedroom unit in pretty good condition in Albion for around $220k. A unit in not the best condition can be had for around $200k to $210k.

 

That sounds like my 'cup of tea'.

 

Wattleldo you hardly notice aeroplane noise in Sunshine and Albion. The noise of trains are louder than the aircrafts. You only notice it at night when you are trying to sleep and it is extremly light. At the moment there is a rooster on the property on the property at the back of our place. My financee is unhappy about this as despite contacting council they haven't done anything.

Overrall I like the Sunshine and Albion area, but in the short term I don't see much growth in older apartments there due to an over supply and the fact Sunshine has one of the worse reputations in Melbourne. House prices have jumped a lot in the last year like most of Melbourne.

 

Ate these older apartments art Deco?

 

Last time I complained about a rooster he had his neck cracked so I won't do that again. He made a point of crowing right outside my window. Not such a bad sound, really.
Surely it won't be long before old apartments become coveted possessions like they are in Sydney. There's nearly the same number of people living there. It's just a matter of time.

 

Art-Deco apartments in Sunshine and Albion? LOL. Here is an example of a unit in Albion. 6/25 Ridley Street Albion Vic 3020 - Apartment for Sale #121413910 - realestate.com.au

 

Thanks. LOL. I think @WattleIdo is right. When there's no more land for builds and population increases, the apartments can hold value over a long period of time even if they are old. Could fashion after marrickville, strathfield, harris park etc in sydney.

 

Hope you guys are right as my fiancee has an apartment in Albion.

 

Is this price correct? 7/51 Woodcourt St Marrickville NSW 2204 - Apartment for Sale #121363414 - realestate.com.au It has to be an error.

 

This suburb seems great value given its proximity to cbd and serviced by train. It must be pretty gangsta.
The median price on re.com.au is about the same as bne houses the same distance to the cbd

 

I don't mind Albion. Wouldn't live there yet myself but for investment it's a fantastic area for a low/middle-range budget.

The apartment complexes in the suburb are... not good. They very much have a ghetto vibe. The streets with detached houses have a good feel though, this suburb has the cheapest period homes in Melbourne. It's sleepier than Sunshine, which I like.

I don't know if anybody noticed the listing for 66 Adelaide Street, but easily the nicest house I have seen for sale in Albion and it had a price tag to boot ($750,000). Listing looks to have been removed, so I think they failed because nobody has that kind of budget in the area unless for development.

I've heard that the old building near the train station is being converted into apartments?

 

What sort of prices can you get a good detached IP for in Albion?

 

Sold Price for 36 Derrimut Street Albion Vic 3020