VIC New Melbourne Suburbs North, SE, West -Observations

Nice! same locations as me!

How big is your house in sq in Armstrong creek? Which estate did you buy in? Was it Warralilly or Armstrong?

 

Bought in Villawood estate which is the premium one.

I did a double story on s 200 sqm block.....about 20 sq. Just relet for 395pw....

 

Getting 2 properties valued in Werribee at the moment as I might offload one whilst the market is hot, or wait another year.
@sash you reckon Werribee has another good year in it?

 

Yep....it is going strength to strength...the papers are talking up Werribee, Hoppers, and Point Cook....that should get the masses focused...

 

I'd definitely hold off another year if you can.... I'm actually considering another in the area..

 

Second that....base on where Scumshine and Lavo (Laverton) went...I can see Hoppers hit a median near 500k and Werribee central (3 klms of station) hitting mid to high 4s.

 

cheers, decided to hold a little longer.

 

Werribee house tenants gave notice she would be leaving as the contract comes to a finish, been advertising it for rent for the last 2 weeks whilst current tenants are still in the house. Found a tenant for $10 a week more, and will be moving in the next day the tenants leave. 7 groups through on sat that passed and all applied to secure the place, have never had 7 groups through in one day for Werribee.
Last month I also increased rent $10 for another place in Werribee.
I wish all my places were in demand like this.

 

Yeah I noticed rents had picked up abit as I keep a regular eye on them via RE.com..
Good to know there's plenty of potential tenants going thru too...just about to buy another

 

Same area?

 

Yeah good old wezza is still ticking all the boxes

 

Eden Gardens block prices currently in Epping in Melbourne's North

10x30m 300m2 205k
14x31m 434m2 297k

 

Just bought a block land 149k Werribee area......with a 3k rebate.

It is 289sqm......I plan to be put a 17sqm 3x2x2 on it for 175k fully complete. So total cost is 325k.

Rent potential is 340-360pw on completion. End value is expected to be 375k plus in another 18 months when the block titles.

It is also 1000m to the station ...so it is walkable.

Even on 340pw...is about a 5.4% return...i was getting over 6% only a year ago...

 

I think affordable is all quite relative. But yes those areas are probably next to take off, since this cycle hasn't benefited them as much, assuming we don't have major correction.

 

The below article is telling that the outer suburbs have some time to run...before it slows...the rents are pushing up quickly...

Melbourne council areas with the biggest falls in affordable rentals

 

What do you think of Bacchus Marsh? @sash
Nothing on the market and 12 months before titles on new blocks that get snapped up immediately

 

Somewhat generously BM is classed as zone 2, train fare to Melbourne $4.10. Further enhancements to rail line in hand.

 

nex5 opportunity point but l8ke melton better

 

Wyndham Vale-any potential??

 

Absolutely...but prices are already crazy.........