VIC Property Investment in Melbourne

We live in Queensland, and want to buy an investment property in Melbourne within 10km to 30km of CBD. Our budget is $600,000. Could anyone please advise about the followings?

1. What are best growth suburbs within 10 to 30 km of CBD?
2. Best Buyers Agents in Melbourne

Thanks.

 

wow - queenslander coming to melb
Go to Reservoir, Thomastown, kingsbury, Bundoora

if H&L - PC or werribee follow @sash posts.

 

Hmmmm.... Grew up in Reservoir, traveled to school everyday through Kingsbury, did pizza deliveries in Thomastown whilst studying at uni, and now in Bundoora....

Might just consider being a buyers agent for the area...

 

For buyers advocates, try Wendy and Michelle at Amalain

 

Thanks. Is it possible to buy anything within East/south east Melbourne within 30 km of CBD? I am also wondering whether it would be wise to buy anything in Melbourne in this hot market.

 

Probably has some steam left but for how long? 10% to 20% more growth before it reaches the peak?

 

Yes possible to buy - just. Use real estate.com.au invest tab and median prices to assist your search & dd criteria.

 

Did anyone use Amalain as a buyer's agent? Their website says that they do vendor advocacy and buyers agency same time.

 

@Tony66 they do both.

 

Yes, it is. There are many off-market, unadvertised sales via buyer advocates. Real estate agents also have stock that vendors want moved quickly.

Aviv Samuel at Gary Peer Carnegie has a huge database of off-market stock in the southern suburbs.

 

Thanks for the shout out Kate.

 

Hi Rasheda,
How'd you go with your hunt for a property in Melbourne?

 

For $600K? No way! I was naive enough to have thought I could get something in Reservoir for $750K max at the start of the year. Just came back from an auctioning today in Rezza on Whitelaw Street - went for $887K? Pretty diplated house with a strange design and I think you need at least $30K to do it up properly. Location is good and but honestly it's one of the more dangerous parts of Rezza.

In reality, Rezza these days for a 600-700m2 block is more $800K - $900K for anything within a 2km radius of the town centre. I'm starting to think I really need to venture out further to get within my price range....or give up on a few things if I stick in Rezza (smaller block, further away from the station etc).

I think Rezza and probably Melbourne on a whole is near peak, Rezza will likely hit 1mil average before fizzling out. I'm going to admit one thing, I used to discount suburbs like Thomastown and Lalor but now as I've experienced the heat in Rezza, it may probably be wise to give T-Town a second look!

 

Do you think that for someone with a little lower budget that Epping might eventually improve in a similar way?

 

Thanks, house and budget $670k. Now looking at St. Albans. Not sure whether it is a good choice.

 

I've heard okay things about St. Albans... either that or Sunshine West (Sunshine was identified as an Emerging National Employment Cluster (Sunshine NEC) in Plan Melbourne)

 

Hi Rasheda, Have you already made your purchase?
I am also looking to buy in Melbs. I have 100k less than you but I am choosing to stay within 10km of city centre. There are quite alot of IP's available within that budget it seems. Especially if you are using a buyers agent. The Buyers agents I am looking at are National Property Buyers, Cohen and Handler and one or two others. Happy to be challenged on this approach by other more informed forum users but it may help with your research.

 

I am in the process of buying a house in St Albans. I used a BA. I will share my experience about using BA with you ( via PM).

 

Hi Wendy,
Thanks. I have already appointed a BA, and bought a property in St Albans.