Hi All, my partner and I are currently renting in Richmond and after getting our start in property via an IP in Brisbane we're now looking to purchase a home in the inner north/north east of Melbourne. We've got a budget of $900k and are ideally looking for a 2-3 bedroom house on 400m2+, as close to the city as possible. We don't mind something that needs a fair bit of work but would want it to be at least liveable to begin with. Obviously the lower the purchase price the more funds we'll have left over to get started on some improvements. After a bit of looking around we've settled on Preston as the most promising area, particularly in the channel around High St and the train line. Are there any particular things to look out for or consider around there? We'd be buying it as a first home but would also like it to be a good investment as it may end up as an IP down the track, what are some thoughts on the growth prospects in the area? Also, are there any other areas that are worth looking into that we might have overlooked? Thanks!
I have a preference to the area bounded by High St and Plenty Rd. Great access to both train & tram as well as east-west busses, and not forgetting the proximity to shops etc.
Try aiming for West Preston (between the tram and the main train line) and within west Preston primary school.
Note also they just opened Preston High and they had more than double in student applications than what they predicted and what they can cater for. Alot of these students were also in Thornbury zone. It says something
