Ranking Each Cap City's Lowest Socio-Eco Areas

Hey Spludgey, thanks for your thoughts. I will read the Elizabeth mega-thread so I don't want to duplicate too much.

In the period of holding those first couple of properties there, have you seen much (if any?) capital growth?

 

Hey @C-mac im sure you have read the davoren park thread. Many talk about Elizabeth being a better area, it might be, but from my view I see them all rolled into one low socio area with tiny differences.
The state needs jobs to stimulate these places in regards to growth. But cashflow and tenants aren't an issue with good managers.
If I was chasing growth for long term, I still prefer Frankston over the 2 states, I'm not familiar with the other areas you mentioned. Melbourne market is always resilient and will carry on. I never bought in Frankston but wish I had years ago, it's one of those areas we will look back in 10-15 years and be pulling hairs as to why we didn't buy then.

 

I still don't get what the deal is with that.
How is Canberra not on the capital city weather wrap up?

 

Not hip enough maybe

 

Oh definitely. But still pretty odd for the capital of a country.

 

Spend some time looking at Frankston today online I don't really know too much about Melbourne. Properties close to the water in frankston are actually quite expensive. And I think those are the best investment. Because otherwise it's just really far

 

I'd just like to focus everyones' attention back on.........Mount Bludy Druitt!!!

The place wasn't named "mount" by accident either lol.

Yep. The place where every bogan's had a brush with the law. With 2000 acres of Centrelink funded squolar. More dealers than zits on the faces of entrants in a McDonalds deep fry cooking convention.

But if you invest long enough you will make money there...... just by default.

 

I think its on the Sky News one. Who knows.

So is it really the case that Canberra simply doesnt have a low-socio-eco suburb?

 

Hobart: You have the two worst.. But they are closely followed by Bridgewater, Rokeby...

When I lived in the CBD we use to get the neighbourhood watch flyers... Every single stolen car was located in Rokeby Enough said!

 

Quite minor, perhaps around the 5% mark, 10% max. But it has only been 18 months or so, so it's not too bad.
I bought in Umina and Woy Woy in 2010 and 2012 when people were still looking down on the Central Coast. I know it's not really comparable, but both places have gone up by around 75% since then, which is a big capital gain in my book. They've risen so much that I'm seriously considering whether I should stop buying for the time being and start developing them and put townhouses up.

 

There are still some crappy places around, but usually a mix in the suburb. Like Red Hill - you have some housing commission flats, but one street up houses are $1M+. Kambah has some housing commission houses, but it's the largest suburb in Canberra with most houses over $500k and plenty of more expensive ones. Charnwood would be my guess, but it's so close you may as well say Queanbeyan (NSW).

 

@Azazel thanks for the insights on Canberra. I'll look into Red Hill some more. Do you think Canberra (overall) will face a unit oversupply like Melbourne and Brisbane? They are building a lot of units there. Is it meeting demand or exceeding it, in your opinion?

 

Don't forget Darwin! We have some absolute crackers! May I introduce the forum to Moulden and Woodridge.

Some cracking bargains in there....but they have some serious social issues.

Hard to see any capital growth anywhere in Darwin in the short to medium term.

 

I thought that there would be massive oversupply when they were building the Kingston foreshore developments, but it seems to have been absorbed just fine. Haven't looked again recently though, units are tipped to be flat for a while.

 

Interesting, I'll do some further digging, thanks!

 

@hammer I only keep reading horror stories about the Darwin market in the magazines, websites, and forums. When do you think it'll truly reach bottom-of-market? And has it already?

And what do the yields look like in those low socio-eco areas of Darwin? Do they offset the lack of capital growth prospects?

 

Don't torture your PMs with awful properties

 

I feel you PM's did something terrible in your past lives

 

Ha!

 

I can't in any good faith recommend any part of darwin for an IP. It's just about corrected from the mining boom. But round two is the wrapping up of the inpex project. 7000 jobs will go and a few thousand indirect ones will have to go ad well. However it's not a clear cut case as to how it will affect Darwin....a lot of those jobs are FIFO, and most of the accom is in dedicated camps.
Hard to predict how it will all play out with low interest rates and a new government that will probably release housing stimulus back into the established homed market.

Either way you look at it, unless buying a PPOR, Darwin is risky.