VIC Reservoir >Thomastown >Lalor for IP

I am targeting to buy a investment property in one of the above 3 suburbs
Intending to buy a house close to train station with about 600 SQM land and subdivide it in future

Similar size and location properties are priced as follows :

Lalor 700
Thomastown 750
Reservoir 850

Which of the above 3 suburbs would you recommend as the best bet for capital gains ?

Is the premium of Reservoir over Thomastown especially and also Thomastown over Lalor justified ?

As they are so close to each other, in my opinion, a few years down the line, all the 3 suburbs will have same price

Cheers

 

Mate at this rate I'm sure you will be inducted in the "Most Threads created" Hall of fame pretty soon

Reservoir has already moved in the last 2 years, I doubt if you will get any significant gains now. Lalor, TTown I'll leave it to Melb exerts

 

Hi there

I have been attending the auctions in The 3 suburbs for the past 3 weeks and also looking at the properties on sale to get an idea of the neighbourhoods and the prices they command

I have unfortunately not entered the stations as I am going by car

Any thing particularly I should look out for in the areas ?

Cheers

 

Too far from the city for that price. Get something from westfootscray to sunshine better.

 

reservoir is big - depends which parts you looking at

I would personally prefer Lalor shopping areas off station st it has a small market etc and some good eateries.

 

not much of a distance - too far is like Parks Orchard or Eltham or Tacoma. You watched that Sunshine series on SBS - on those Sudanese immigrants? it's not bad but maybe some fiction to it.

 

All the 3 suburbs, I have been looking at properties near the stations

Maximum 750m distance

Any particular property comes to mind ?

Cheers

 

Pocket the change and go Dallas/ Coolaroo/ Meadow Heights. You’ll be spending under 500, good development block, close to trains and amenities. Rent will be close to mortgage repayment. You won’t go wrong.

 

was going to reply but only had access to the phone. for me - if it is a PPOR - then probably the ones i would select would not comply to the 750mm to station.

If it is about development potential and i get a lot of msg recently asking about this. and i will probably create a new thread discussing my opinion on what is happening and occuring. in terms of melbourne the ACZs, the NECs and the RGZs coz it seem not many ppl here understand it. Long story short - melbourne 2030 plan which involves the Activity centres was around since 2007 - they're planning activity centres to ensure easy transport/communtes ard infrastructure etc. over the years this plans have been acted upon slowly on different centres some more recently - sunshine, st albans etc. what it does is councils submit plans supported by victorian planning authority working with them to rezone potential areas nominated for higher density. this involves hospitals, schools, universities, widenning of roads, transportation links, and even creating places that are mixed residential

One of these centres is the northland urban renewal - which involves one of your target suburbs (preston and reservoir) - you can see below what they doing - they're even planning a high capacity link from latrobe uni to the end of the park in reservoir (light rail). What does this mean eventually following the path of" million dollar ACZs "like doncaster hill, glen waveley, highpoint, chadstone, box hill - ( if selected properly a very high likelihood of being in the million dollar club). Ppl can talk medians cycles and there are supplementary but then you are rezoned it is diff ball game altogether. by the way the dark blue is Rio Tinto R& D centre (just the top 5 largest miners int he world) with 6 figure salaries) - hence why heidelberg heights site which was rezoned and got permits sold 3.7mil. (high density = more$$). have a look in the diagram below and see the ones in darkish pink that is zoned for substantial housing change area

 

I have no intentions of living in this area

I am buying it purely as an investment property

Hence looking at properties within walking distance of 750m to the station

Looking forward to your new thread on the subject

Cheers

 

Well caught

Cheers

 

Damn typo

 

@James Baker as I have acquired enough sites all in the growth zone and some in the ACZs I would imho personally stick to the ones that have an acz associated to the area.

Reservoir Epping Preston Werribee Frankston

 

I think the ship has sailed, just my opinion. First question, how long have these markets been soaring? Who is buying at the moment and why? Do you feel lucky?

MTR

 

I think these markets have really taken off in the past 2 years in particular
Before that also they had been doing in line with Melbourne property price index

I have attended all the 4 auctions in the past month.
The main buyers for houses which cannot be sub divided are the Tradies working around the area
The RGZ and the sub divisible houses are being picked up by the builders and investors as far as I could analyse.

I know I may be the last to the party but I have 300k burning a hole in my pocket.

Moreover, that the party is over has been going around for several years, and yet in continues to power ahead.
So don’t want to be left without buying any property and find that prices have gone up by another 50% 5 years down the line

I don’t feel lucky or anything but need to hedge my bet

Cheers

 

We only know one thing, booms don't last forever, Melb has been booming since 2013. Investors are out of many markets now why??? Finance, no loans no buy, more stock comes to market. Markets can easily go from low supply to oversupply, we have seen this happen in the past.

Developers margins are no longer stacking up in these areas? what do you think will happen? They wont continue buying if they cant make money, this is also another warning sign for me.

Its typical in boom cycles for many investors to buy at peak because they believe the boom will go on forever and they convince themselves, its easy to do when making money.
The fact is history proves time and time again this is not the case. This is why I say do you feel lucky?? My point is I dont know when the boom will end, but connect the dots, what will stop the boom in Melb and Syd? are cracks forming? Mortgage brokers will have some answers

On the flip side buying in Brissy and Adelaide threads has also been going on for years, and pretty much zip/little growth? Why .... jobs

Category: | Herald Sun

 

I am not a typical investor who is buying with the sole intention of making a quick buck.
Even if the prices don’t go up as in the past of 20-25% every year and with even 6-7% annual price increase I am prepared to live with it

Would a savvy investor let 300k idle in the bank at 2% and not invest it especially if he has no properties to his name ?

Cheers