Anyone have thoughts on Preston (west) vs Coburg North as PPOR in Mebourne. House 1 - Coburg North 3br 2bath 500sqm asking 1.4M. Recently renovated to high standard California bungalow style home House 2- Preston (west) border of reservoir 3br 1 bath 1.2M 650sqm. Renovated kitchen and living but not to same extent as above Red clinker brick home Schools, public transport , access to amenities very similar. Does anyone have a view on either area performing better over 10years or other observations
If house 1 is towards the East of CoNo and house 2 is towards the west of Preston then I’d say you’re practically talking about the same area with the same growth drivers. So if you’re looking for a differentiator in the ‘cachet’ of the suburb’s name I’d say there isn’t one. Both have wealthier, leafier areas close to the Merri creek, and a premium for closeness to PT and their southern ends, but also both have more industrial or denser areas. At a stretch you could say Coburg North has a little more room to grow because the Upfield has more room to improve (read about the duplication of the line up in upfield), and there are a lot of commercial development around Bell st / Gaffney st / Pentridge that might help amenities and economic outcomes. Even if you don’t have kids or are planning to send them to private school keep an eye on the public school zones in both suburbs. Some public high schools in the southern end of both suburbs are fast gaining in reputation and that type of growth driver has started to be a factor in nearby Brunswick / Thornbury so longer term it’s a good growth bet. You can probably tell I’m a local if you want you can PM me the houses and I’ll tell you what I know.
The area OP is talking about is east of the Merri Creek. That area is smack bang between Mernda and Upfield lines and I’d imagine commuters in that area would use the 11 tram on Gilbert Road rather than either of the train lines. edit: oops just realised they merely said “Coburg North”. Ignore me
thanks for the comments. It has raised some questions for me around high school zoning being a driver for property value growth. Do people see this as a key driver or a lesser driver for longer term growth. Anyone aware of examples where say parts of Pascoe Vale zoned for Strathmore High have sold for higher than parts of PV not in Strathmore High zone for comparable houses.
