VIC Outpriced from Glen Waverley and Mount Waverley, what next?

All,

I have been actively looking into GW/MW since Oct this year, every auction is going nuts with values being increased in that range of 100-150K above the reserve price. All auctions are well attended and people are willing to outbid each other as if there is no tomorrow.

Agents would sell in one street and a few weeks later another house would pop up for sale but with 50-80K higher listing price than the previously sold property.

My primary driver in selecting GW is due to access to better public schools, I believe I have been priced out of these suburbs

I am looking for ideas beyond GW/MW, my budget is 1.2M-1.25M plus stamp duty. It would be a PPR purchase.

Any thoughts on
Wheelers Hill
Forrest Hill
Vermont South
Wantirna South

Above suburbs would require a daily commute to GW (6-8 km dependent on the suburb and the preferred school in GW)

Eastern side
Mitcham (8 km drive to GW)
Ringwood (12 km drive to GW)

Thoughts on the above from people who have been living in these areas (pros/cons), future capital growth drivers, pockets to stay away from would be appreciated.

 

For property market, China is still Australia s best supporter.

 

Can't you rent in the area to get into the schools?

 

Agree as all the auctions I have attended, the property is snapped up by 1 particular community and they really have deep pockets and would bury the competition

 

I am renting in GW however not in the primary school catchment area, I am now in the market to secure a PPR, hence started with GW & MW and have realized I am wasting my time as the prices are soaring north of 1.35M for an average house and if you aim for GWSC zone then it would depend on the day and the interested buyer as run-down houses are selling of 1.5M and French provisionals (made by Singh Homes, Metricon Signature Series, boutique builders) are easily fetching 2.5M+

 

Property is still the best cleanser. Woops. I didn't say anything.

 

How many bedrooms do you need?

If public school is the main factor, all those suburbs are pretty good except for Wheelers Hill. Also, there are Vermont, Nunawading, Burwood East, Scoresby and Donvale.

 

I am looking for 4 bedrooms and 2 bath home.

Why would you single out wheelers hill? is it due to crime, not a decent public secondary school, overpriced, no train station?

Property agents in GW would start floggging Wantirna South and Wheelers hill stock as soon as they realise that the client is outpriced from GW

 

Yes, Wheelers Hill Secondary College's academic performance isn't great.

 

Hi Y Man,

My son is in a primary school, the school does take kids outside the catchment area and I am aware of kids coming from Rowville, Wantirna South, Mount Waverley, and even Wheelers Hill.

I was able to secure admission to 3 schools in GW and I was in the zone for only 1, I believe secondary would be a lot different to the primary.

I am definitely not a phantom owner in the Sky Gardens however eyeing a townhouse down the track in the school zone for secondary (6-7 years in the future)

 

Yup, GW is too hot. Rentvest!

 

I am firm on securing a PPR so rentvest wouldn't work for me, any thoughts on the suburbs listed in my original post?

 

I’d stick with train line, so Mitcham or Ringwood for value.

 

Does it have high performing public schools? Mitcham does have Antonio Park Primary and Mitcham is expensive compared to Wheelers Hill or Wantirna South. Mitcham has smaller block sizes compared to GW and WH and does go for 1.2M-1.4M for average homes.

 

Mitcham has Antonio Park Primary School and Mitcham Primary School. Both high performance. High school wise , Mullauna Secondary College is average performing.

The median price is $1.2M for 4-bed house, based on sales in the past 12 months.

Ringwood's schools are similar to Mitcham - good primary and average secondary. 4-bed houses are much cheaper tho - median price at $970k.

 

Hi tvadera,

Looks like you have got primary school sorted in GW and your focus is on securing a good secondary school zone around the area within your budget.

I would suggest you look at either Vermont Secondary College or Box Hill High School zones. None are perceived to be as good as GWSC, but are not too far behind and very popular.

You should definitely be able to buy within your budget in Vermont Secondary zone and there are areas within Box Hill High zone which are in your price range (e.g. parts of Box Hill South and Blackburn South).

If you prefer to buy closer to Glen Waverley, I would avoid the Forest Hill College zone and focus on Brentwood or Highvale Secondary zones – both getting the benefit of the spill-over effect of GWSC, with Brentwood being more advanced in that journey (% of migrant parents!) in my personal opinion.

Good luck!

 

Thanks SuperOlaf

I am keeping an open mind for secondary at this stage as its still 6 years away. I would be leaning on VSC, GWSC, BWSC or private options like Caulfield Grammar, Huntingtower, Wesley, The Knox school or Yarra valley grammar. Most of the private schools offer a bus service within a radius of 5-15 kms.

I would definitely look at Vermont & Vermont South suburbs, it definitely ticks the box as drivable to current GW primary school.

Any thoughts on Wantirna South and Wheelers Hill? WH has caught my interest lately due to decent sized blocks. I have only started looking into the Golden Mile pocket (I..e Lum road, Jells Road and waverley road). I am not keen on going past the Ferntree gully road.

Thanks

Thanks

 

Golden Mile pocket. Interesting phrase. How would you define it?