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VIC Property Outlook In Upwey VIC

Discussion in 'Where to Buy' started by fakelove, 18th Jul, 2016.

  1. fakelove

    fakelove New Member

    Joined:
    18th Jul, 2016
    Posts:
    1
    Location:
    melbourne
    What do you think of future outlook of properties in Upwey?

    I'm thinking of buying a gentle slope or nearly-flat house in Upwey (a 3-bedroom, 1-bathroom house) around $450-530 K for around 800-1200 sqm land area. Hold it for around 3-5 years while renting it out for around $350 a week. Within 1.2 km Accessible to train to CBD.

    Compare Australia Suburb - Upwey, VIC vs Warranwood, VIC

    Comparing Upwey to Warranwood:
    They r both bushfire prone area.

    Upwey Pro:
    Low rent vacancy rate and supply
    etc.

    Upwey Con:
    Most properties in Upwey are LDRZ.
    Less multicultural (Based on my experience, more multicultural will bring up academic results of local schools.)

    Or I should invest such money in other suburb due to better future growth, for example Hopper Crossing, Berwick or Frankston?
     
  2. oki doki

    oki doki Well-Known Member

    Joined:
    31st Aug, 2016
    Posts:
    55
    Location:
    Canberra
    Hi fakelove
    I am curious about ur choice of upwey..have few questions
    What do u aim to achieve in 3/4 years?
    Do u want to sub divide and build ?
    Live there in future ?
    Are lot if people looking to buy in that area? I know new lots and estate are coming up in Berwick surrounds and people r buying and building on them..cant say the same about upwey....but hey who knows in 3/4/5 years things could change...
     
  3. craigc

    craigc Active Member

    Joined:
    25th Jun, 2016
    Posts:
    38
    Location:
    Melbourne
    Geography wise Upwey is on the side of a hill heading up to Mt. Dandenong whereas Berwick surrounds (Clyde etc) are flat ex-farm FHO blocks so very different.
     
  4. The Y-man

    The Y-man Moderator Staff Member

    Joined:
    18th Jun, 2015
    Posts:
    902
    Location:
    Melbourne
    Is that why they call it "Upwey"? :D

    Surely Upwey must be on the Up and Up :p


    The Y-man