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I was going to reply yeah land has become smaller compared to 300-350sqm couple years ago. Lots of Indians and Chinese moving and building in this area. Some schools coming up And shops etc. I remember my friend bought 500sqm for 100k like 6-7 years ago. More than double now though u have to build in 2-3 years

 

A few years ago people were going on about how good the schools in point cook were, there are 3 of them in a small area.

How is it doing now? what are the reputations of the area now?

 

Wyndham vale

 

Wyndham vale

 

Considering it is point cook.
Small lot. Fully Build home. I would have bought that immediately. A 321 suits most of the renters.

Regards

 

Interesting in regards to Pt Cook. I have very little knowledge of the Melbourne market but I am looking to enter it within the next 3 months - After doing a few hours of typical realestate.com.au searching and looking at maps and locations I also found Pt Cook to be what seemed like a very well priced option considering its proximity to the city.

I then spoke to a buyers agent in Melbourne where I was strongly advised to stay away. They advised that its quite isolated - Only one road in which is shocking in peak traffic, no train line and most probably never will be a train line as there are too many houses in the way. Also the rental demand is not that great as the area has been targeted by investors and there are a lot of properties available.

Food for thought - like I say, I'm no Melbourne expert but that was coming from somebody who is

 

I hear this a bit regarding Point Cook, but I don't really get it. On the freeway to Geelong, there are 3 exits in which you can get to Point Cook - Point Cook Rd, Palmers Rd and Sneydes Rd

 

Maybe its that freeway they are talking about?

 

I have a few ips in point cook which I developed as H&L. Bought the land initially and sourced the builder I also self manage all so far got an African tenant on a whole street of Asians and an Indonesian tenant who have been there since it was built. There are far more owner occupiers than investors in the area. It was done mid to high 300k and now 500kish. To be honest, I thought it would stall slowly at 400kish. Freeway is ok but certain hours is a pain like during morning and evening workdays. I hate going there to do tenant maintenance issues.

A lot to do with immigrants esp from India. Also lots of land are sold overseas. I think the margins are in the build and land. If u can buy the land and then source the builder, u can achieve a price lower that what it is selling. There are residents experts in this like @sash. I have done this approach but rusty unlike the more recent investors

There are more land releases and it doesn't get cheaper. I remember it was like 80k back then for what is 300k now. It was in the news major Chinese developer bought a massive site to slice it for land plots as they are projected major population increases in sales of land. There were Ppl are lining up overnight camping in rockbank as it was the cheapest they could afford back then.

If u doing H&L there is no need for an buyers agent just go look at the suburb see the overall plan and buy the land that suits budget and build

 

They're no Balwyn or glen Waverley sc or mckinnon but there was an article abt the school near featherbrook reaching near capacity requiring more seats etc. Over time with Asians population that Big the school would def improve. Most Asian parents push their kids like crazy.

 

Prices will only go up when developers are forced to pay $2m/ha for the land as per the latest sale in hackets. That puts a 375m2 block at $120k land only add on another $110k for civil landscape and authority charges and another $30k for finance, $20k sales and marketing and your at $280k a block before you even consider gst and Profit.

 

As a sales consultant myself I would find it hard to believe the actual package price will go for $375k. As it states land may change which will up the price, the home will come with the very basics and not include a lot of things and the first home owners grant is already built into the price so for an investor I would imagine i being closer to $400k finished. Still seems reasonable though

 

Add in sites costs $15k say and the fact that it's a 14 square home that you shouldn't be paying more than $140k for with fixed site costs and this puts the land at $260k for 260m2.

 

exactly!!
Look at frankston high, the asian population is pushing up the reputation big time. If Frankston High of all schools' reputation can be improved, then anything is possible.

however the people I was hearing how good the schools were from the locals themselves, One thing ive learnt in my years is never believe what the people who live in an estate brag about their areas.

 

I know frankston well having gone to high school in Mt Eliza. Pretty surprised if they are Asians populating the Frankston High there now as it was nearly next to no Asians or very few back in late 90s early 2000s.

 

Pt cook definitely has growing Asian population back in 2007/08 it was like barren land

 

saw these article.

http://www.heraldsun.com.au/realest...d/news-story/87ab09998a50930634888a4121f38046

"There is also a number of schools nearby, including Westbourne Grammar, Alamanda College, Point Cook P-9 College, Al Taqwa College and Stella Maris Catholic Primary.

As of next year, there will also be a P-9 school at Featherbrook, currently being built."

 

maybe it is West Gate Bridge they are talking about?

 

yes, the rental demand wouldnt be too high, and yes the traffic during peak times is pretty bad.

on the other hand, the arguments FOR the area is proximity to the city, its very closer then it seems, its got beachers nearby (yes they arent very nice) ,
train line, probably never,
as to the traffic issues, all that need to be done is another road or widening or of the exisitng one, and problem solved!

as I previously said, if I couldnt afford anything o nthe east but wanted to not be to in the west, id buy in a heartbeat,

the shopping centre is in terms of boganness, in between the west and the east, slight less bogan than the west and more bogan than the east, if you get my drift

 

Wouldn't say any shopping centre in the west is bogan, more 'fully sick' I would think