VIC Post a Bargain Melbourne

This is extremely cheap for the area. I wonder if it's because it needs a lot of work. Then again it's only interior and garden. I've now seen a couple of these 1/4 acre large homes pop up 200k below median. All appeared to be a clean slate needing a full reno but still seems cheap to me

For perspective a 303sqm shoebox in Officer or Clyde Nth is north of 600k

https://www.realestate.com.au/property-house-vic-beaconsfield+upper-133355354

 

Bumping up this thread. Any bargain around? I am watching the Northern East areas (from Heidelberg) and cannot see any sign of market correcting. Lockdowns, jobkeeper, people losing jobs however less stocks and still a lot of cashed-up people around. If we don`t see a correction now, we will never see it . This one was on the market @610k, auction online, like 4/5 bidders fighting hard https://www.realestate.com.au/sold/property-unit-vic-bulleen-133982654
Crazy!

 

I've been keeping an eye on the Seabrook, Altona North/Meadows, Laverton area - no bargains. What may first appear to be a bargain quickly turns out to be KDR/extensive reno prospect. I reckon Q1/Q2 next year maybe, real estate always lags.

People will hang on to their property like leeches, I know I will.

 

I think once the cure / vaccine is found, we will have a spike on the prices again hence the only window we have is up to that point. Hard to guess the future.

 

Agreed. I bet the douches at the top are thinking how the heck are we going to get the economy running again. I firmly believe they'll open immigration floodgates towards the end of 2021 or so. They'll also do something with the education sector. A big spike in property prices is on the cards post those changes.

 

When unemployment is so high jobs recovery is slow, letting more migrants will only make the problem worse. We need more international students, more tourists, more innovation to prop up the economy.

 

I'll have a go. How about these?? look liveable, sub-dividable and both in top school zones albeit close to moderately busy roads.

https://www.realestate.com.au/property/1-douglas-ave-box-hill-south-vic-3128

https://www.realestate.com.au/property-house-vic-doncaster+east-134104230

 

3 Kadana Street, Oak Park VIC 3046 | Domain

 

https://www.realestate.com.au/sold/property-apartment-vic-box+hill-133666898

400K is pretty cheap with school zoning and rent was $400 a week as well, dropped over 20% from when it was new (peak). I hate apartments but at that price I would think about it

 

Not sure about suburb details but that’s a really average floor plan for a modern looking 4 bedder.
1 genuine living space and a small meals area upstairs.
1 bed (master?) with a very small en-suite downstairs and everything else upstairs.
Certainly wouldn’t be helping the seller.

For the thread topic, not seeing bargains in the SE suburbs houses.

 

https://www.realestate.com.au/sold/property-apartment-vic-box+hill-133666898
I'm actually really surprised how compact this is! Tiny. I'm not used to looking at properties that are so small, it's a bit of an eye opener. It does present well despite the size.

 

whoever bought off the plan got really burned on that one.
400k isn't cheap, the building is an eyesore, the long corridor is wasted space and overall it looks to be under 60 sqm. Yield is yield but no CG potential.

 

I think everyone who has bought off the plan the last few years have been burnt. Don't think many OTP apartments have CG Potential but one has limited downside as now starting from such a low base. It is also near new maybe 3 years so some building tax claim left in it

Regardless of being crap design it's 5 minute walk to Shopping Centre with Market, Woolies, Coles, 2 Chemist warehouse, Big W, Maccas.and express train to City in under 20 minutes.. Also zones to Box Hill High school one of the top 10 public schools in Melbourne

 

Let me try my luck and see if I am point. any one think this is a bargain. exntensively Air BNB property. owner sold off a couple of properting that he was holding.

Cant ask for anything better.

 

Nice one. i think so if you like the look of it! how much would it cost to build that beast?? doesn't have a backyard though

 

that house looks like it was specifically designed for air bnb, nice design

 

Yes, they are income generators. For migrants, perhaps those with bags of money? I don't know. Maybe the pollies have their thoughts...

 

But it has a "bum washing basin" and that's all it is matter!

 

Just going by the Land size alone, it seems like a bargain to me. it does give you the vibe of a holiday home.
renovation wise, it needs the bathrooms+kitchen splash back/cabinet, front fencing.
lets say you buy for 620 and another 30k over time.
does this seem like a good value to you guys?
@TMNT

 

I think the most important things is to be aware of
1. the occupancy rate during covid
2. how much a similar spec house is selling for
3. how much extra are you paying for the setup vs non airbnb setup