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Outer rings stars?

Discussion in 'Where to Buy' started by ATANG, 24th Aug, 2016.

  1. ATANG

    ATANG Well-Known Member

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    Not really familiar with outer suburbs market, just want to hear what everyone thinks which suburbs in outer rings have biggest potential? Craigieburn? Frankston? Boronia?
     
  2. Natedog

    Natedog Well-Known Member

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    Frankston
     
  3. ellejay

    ellejay Well-Known Member

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    Has it already moved though?
     
  4. Natedog

    Natedog Well-Known Member

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    Yes but so has most of Melbourne to some degree.
     
  5. ellejay

    ellejay Well-Known Member

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    True, a bit general to ask which suburb, it would depend on the deal.
     
  6. Mick

    Mick Active Member

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    Frankston is moving but I think it is still great value for bayside property. People once only bought in Frankston because it was all they could afford. Now it has a real buzz about it - people want to live there - gentrification is going on everywhere. It also has something that Craigieburn and Boronia will never have - 10 kms of spectacular coastline.
     
  7. MTR

    MTR Well-Known Member Premium Member

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    Middle ring I would say are the star performers.
     
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  8. The Y-man

    The Y-man Moderator Staff Member

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    I think there is another outer ring suburb north of Craigieburn called Sydney, but need to check the map....

    The Y-man
     
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  9. 2FAST4U

    2FAST4U Well-Known Member

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    Property Update –Not all land is created equal – so buy in the inner suburbs - Property Update -

    The paper explained:

    “Housing markets, which were once relatively egalitarian cross Australian cities, have become polarised”

    “The homes affordable to present (and future) lower moderate income home buyers are now confined to the outer suburbs and will only increase in value at slower rates compared to housing in the more expensive inner and middle suburbs – effectively trapping poorer households on the edges of our cities.”
     
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  10. WattleIdo

    WattleIdo renovating Premium Member

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    Which would mean that the outer suburbs will be the stars.
     
  11. MTR

    MTR Well-Known Member Premium Member

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    What surprises me is that the Melb market has been running hot since 2013, this time it started not in the inner city but the East, driven by those wanting blue chip and in the right school zone.

    Generally you get the ripple effect to the outer burbs and I would have thought this would have already happened?? don't know whether we are actually seeing this at the moment??
     
  12. MTR

    MTR Well-Known Member Premium Member

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    Michael Y advocates always buying blue chip properties, as this will achieve highest long term growth and the graphs support this.

    Problem is graphs/stats only give you part of the story, not the true picture, timeframe is too broad and is the issue. It will come down to a specific timeframe, as there will always be rises and dips in markets. In other words it comes back to the timing when you buy. For example Broadmeadows, very dodgy area and on the nose with locals was one of the best performing areas/suburbs in 2008, whilst inner city was also going strong. Which is right? which is wrong? who cares as long as you are making money.

    MY seems to ignore areas that are changing, those that are on the nose but are still in areas that are within 15-17 km to CBD with excellent infrastructure and limited land, where there is a potential for upside.

    MTR:)
     
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  13. 2FAST4U

    2FAST4U Well-Known Member

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    The suburbs that are getting the ripple effect seem to be the middle ring markets e.g. Sunshine. Outer ring suburbs like Melton and Wallan etc. aren't doing anything.
     
  14. WattleIdo

    WattleIdo renovating Premium Member

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    Well Frankston and surrounds is very strong. Maybe just needed a little ripple efffect to set it alight. Stock on market lowest yet.
     
  15. MTR

    MTR Well-Known Member Premium Member

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    that is a good sign, when stock is low and there is pent up demand then it can only go one way and is up. I am not watching this area, but my architect has some clients that way and he has been raving about the area.