VIC Outer East Melbourne

Discussion in 'Where to Buy' started by MTR, 16th Mar, 2016.

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  1. Luca

    Luca Well-Known Member

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    I see everything expensive....ahahah
     
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  2. melbournian

    melbournian Well-Known Member

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    come on sash start buying more exp suburbs u can afford it.
     
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  3. sash

    sash Well-Known Member

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    nah mate money is in the entry suburbs lower risk. they call me slumdog!!!
     
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  4. Adele

    Adele Well-Known Member

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    You forgot the millionaire part :D
     
  5. sash

    sash Well-Known Member

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    no just slumdog ...much better that way
     
  6. melbournian

    melbournian Well-Known Member

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    @sash damn you're far too modest
     
  7. sash

    sash Well-Known Member

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    Some may disagree...any developments on the horizon?
     
  8. yorkie

    yorkie Well-Known Member

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    hi MtR,


    I'm thinking about selling a block in lilydale it has a 3 bed house and 1 bed s/c granny flat returning $540 pw with plans and permits to develop the back to a 3 bed 2 bath house with the removal of the granny flat. if you know any developers or any interested parties out there that are looking for cashflow while organise a build please contact me and we can discuss. p.s sorry for hijacking this thread... wayne 0411331225
     
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  9. melbournian

    melbournian Well-Known Member

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    How much?
     
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  10. albanga

    albanga Well-Known Member

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    I just found out my mother in-law has a corner block IP over 1000sqm in Boronia.
    Cha Ching!
     
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  11. MTR

    MTR Well-Known Member

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    You should consider building yourself if the numbers stack up.

    Buyers are paying crazy prices at the moment. I am not an expert on Lillydale but I believe a good market

    I guess inner city so expensive they are seeing value in the middle East corridor.

    MTR:)
     
  12. adrian_christian

    adrian_christian Well-Known Member

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    I'm literally sitting at a friend's child's 1st birthday in Mooroolbark and the last 3 600sqm houses have sold for $920, $950, $935,000. Hard to believe we are a 4 minute drive to Lillydale Park. Welcome to the Outer East Melbourne.
     
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  13. Iamnumber5

    Iamnumber5 Well-Known Member

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    I find that very hard to believe. Could you provide the link of those houses?
     
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  14. MTR

    MTR Well-Known Member

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    Really... wow

    Buyers/developers have been priced out of Ringwood East which has been extremely hot, ripple effect happening, surrounding areas very hot
     
  15. adrian_christian

    adrian_christian Well-Known Member

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    Look up Kingston Way on CoreLogic, happy hunting..
     
  16. MrFox

    MrFox Well-Known Member

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    This is the most expensive home on 600 m2 block I could find that sold in last 12 months. Sale price $895,000 in May 2016.
    Sold 26 Kingston Way, Mooroolbark VIC 3138 on 05 May 2016
    There are some exclusive parts of Murderbark :) but the blocks are half an acre plus.
    I would also be interested in what street these sales happened.
     
  17. MTR

    MTR Well-Known Member

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    Agent told me this morning that at auction on w/end a property on Plumer Street, Croydon sold for approx 765k, 1000 sqm

    the house is a bulldoze job. Apparently an arborist viewed the block and a large tree at rear can not be removed impacting on how many dwellings can be built on site.. 2/3?

    Currently massive demand for large blocks with DA, builders/developers screaming for these, premium prices paid

    Interesting times

    MTR:)
     
  18. S0805

    S0805 Well-Known Member

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    Yap aware of this one. We live near by (very close, infact). we discussed this yesterday and we thought it was good price given they can add 3 on the block and suffice to say location is ideal and we are seeing lot of changes happening in area including Croydon centro plan going ahead from council. @MTR don't you think it was bought at good price, I know there was one sold in Jackson street (may be little bigger block) which went for mil last year...
     
  19. MTR

    MTR Well-Known Member

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    The point they actually may not get 3 on the block due to vegetation overlay, and a massive significant tree at rear which will impact development, its a risk, they may only get 2. Someone paid big $ for perhaps a 2 unit site?

    I had 3 significant trees on my block at rear and they were in poor condition needed to be removed, 2 arborist reports and Council made me jump through several hoops, even though they were a risk.
     
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  20. oki doki

    oki doki Well-Known Member

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    Wow!, its like winning the lotto :)
     

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