VIC reservoir vs sunshine vs yarraville

as a potential ppor 3bedroom house, and a possible ip later,
which do u think will likely provide the better long term capital growth
1. reservoir- oakhill estate
2. sunshine- matthews hill estate
3. yarraville- close proximity to the village

also for an investment which do u think will perform better long term
st albans or thomastown/lalor

thanks in advance

 

Matthews Hill the pick of the bunch to live in IMO! Anything between Monash and Matthews st is, in my opinion at least, some of the best real estate in the city. Yarraville is gorgeous too but there's more room to spread in Sunshine

Edit: Since the previous Labor dominated council got sacked, the Sunshine/Brimbank area has been undergoing urban renewal at a rapid rate. Take a look at the new library building and multi deck car park. All the landscaping in and around the town centre has been redone, making central Sunshine a much more pleasant place to spend your time. The station was redone in 2015 for the regional rail link - making central Sunshine a viable employment place for those living in Geelong and Ballarat.

You can't go wrong with a weatherboard in Matthews Hill, but I should tell you one thing - it's tightly held. One family owns close to a third of Monash St from what I hear.

Any more questions, feel free to ask away.

 

I hear Sunvale park 1.9 M upgrade will ground break this Tuesday.

 

as PPOR - I would go yarraviille over sunshine and reservoir (oakhill is very exp 1+ mil) and really there is minimum difference now that the rest of the area is changing. for Growth, it would be sunshine and reservoir (not Oakhill)

As an investment all 3 depending on your needs. though lalor and thomastown I feel is now cheaper than st albans.

 

Sunshine college has just signed off on a 26.8 million redevelopment, to be the first in Victoria to adopt Finland school system.

Sunshine College campus vision takes shape

 

IMHO Yarraville is a much nicer & more expensive suburb than sunshine and reservoir as an PPOR.

 

No comparison, Yarraville all the way.

 

Lalor and Thomastown are cheaper than St. Albans but I feel as if St. Albans is nicer in many respects and for CG would probably be better. For starters, the station is now underground and St. Albans is probably a smidgen closer to the CBD?

Sunshine has what I would call an "island" where it's green and you have those nice Californian bungalows, whereas the rest is purely very industrial looking.

 

lalor is not that bad - it has that shopping strip with markets etc. St Albans I think has taken that leap and so has sunshine. the smart buying was a year ago there.

I went to auctions a number of auctions but these were more interesting ones.

I went to a Heidelberg Heights Auction 1 Dennis St Heidelberg Heights - Def gone down the West Corner block versions were hitting nearly 1 mil. This one closed in with 2 bidders (an aussie and an Indonesian). I knew the guy who won. He basically had a couple of bids and it won. the other underbidder gave up saying what is the point he gonna up me again. The winner said was going to build 2 on that 650sqm for his mom and him



12 Ambon St - again some run down ex-housing comm house. which had multiple bidders. Came down to Middle Aged Viet lady Vs a group of young viets. Trying to up themselves
underbidders - young group of viets

I went to reservoir on McColl St (sort of housing comm) area and it seems like no stopping it went for 911K (multiple biiders but fights was btw possibly a FHB with a baby on the way - a trade was driving some air-con install truck). Vs a bunch of Indians which went from 700K and 911K. it was very interesting auction Everytime underbidder tried to put a knockout 10-15K bid, the Indians just up 1K each and every time till the end. Lots of different indian groups turned up - thought it was pt Cook or tarneit for a second.

The underbidder congratulated the group of Indians.

 

Thanks for the update Melbournian! Looks very interesting and seeing many different groups go through the area

 

For PPOR Yarraville vs Reservoir Oakhill vs Sunshine Matthews Estate

I think Yarraville is also a winner if in price bracket. Great inner West feel with great access, village feel and very close to the city. Will only get better.
Reservoir Oakhill is a bit of an abnormality being a pocket of Reservoir with 1m+ houses. Look for something with character in the area as sought after.
Sunshine Matthews Estate I don't know much about but Sunshine does look to have a lot of change going through it. It is also very convenient with very strong growth in the last 10 years.

For IP I also had the same comparison of St Albans vs Lalor and Thomastown.
Ended up going St Albans as I know the area better but prices have definitely moved. Ours is a PPOR but I am always seeing changes such as the train stations going underground, new shops and to be finished widening of the western ring road Ej whitten bridge and tullamarine fwys will free up a lot of traffic time.

Lalor and Thomastown are similar train times away. Great growth in these areas too but T-Town has moved quickly from 450-500k to 600-650k

 

Nice summary doode. You should start a blog called "Auction Porn" lol.

In all seriousness, you should start a sticky post.

Heidelberg Heights seems to have peaked, I was there back in April and saw this young couple win not far from Dennis Street - I think either Outhwaite or Porter Road, 600m2 but went for $820K? IMHO they looked inexperienced and went up by $10K amounts and probably over purchased by at least $30K.

Was your mate the older or younger Indonesian fella?

 

Yeah I don't make stuff up - what I see is the demand and supply on the ground for the diff pockets I go to.

But HW was closing into 1 mil. corner blocks near the Olympic shopping areas and if you compared this dennis st. that is nearly 100-150K down (and this dennis st is a better spot)
the one closer to the camera. wasn't really a mate - just someone I know (as he's an agent). No Commies in action this time around.

 

Wow, surprisingly HW has eclipsed HH when imho HH is a better suburb overall. 1 Dennis Street seems like on paper a good pickup. Decent house, I can see certain foundation issues with the cracks but not a bad buy imho in this day and age. Subdivide-able into 2.

WTF are people smoking or popping these days buying in HW for a mil???

Whoever purchased this may be ******* in the pants now?

67 McEwan Road, Heidelberg Heights, Vic 3081 - Property Details

The above was 1.01 mil and comparable land size is a smidgen smaller 648m2 and also Id even say the house is a lot worse. I'm just astonished though of the price discrepancy between the 2? Either the market is really flattening after a month or this guy just got lucky??

Heck, even 585m2 blocks

31 Collins Street, Heidelberg Heights, Vic 3081 - Property Details

Fetched $800k, that's 1367/m2.

A similar house:

17 Lawson Parade, Heidelberg Heights, Vic 3081 - Property Details

$931K.

1 Dennis Street looks super cheap!

I really cant analyse and explain why on Earth 1 Dennis Street went for $850K, thats a bloody steal!! That a $160K discount!! and surprised the owners let it go...

 

Well I think market just going flat a bit (maybe an abnormality)- that's what happen when you move up too fast. No diff to doncaster at the high end sometimes 1.4mil then 1.2 mil, St albans that 1.81mil then 1.65 mil, hard to say too if it is down or up.

Dennis st is a corner which gives it the advantage - of dual frontages, and you can approach volume builders to put of those off the plans townhouses off the st. Less building cost. With that 650sqm - you could do 3 minimum.

 

Definitely think it's an anomaly all things considered. It's a $160K or so drop from that McEwan Street one (which I think worse than Bamfield Street).

Whats up with HW? Mainland Investment must mean something is in the works?

 

sometimes it happens it gets that occasional drop then it goes up again.
it depends on the demand on the day. that is why if some ppl saw that the highest price on the st was 1.81 mil, it does mean every other property could be 1.81mil, it could be 1.6mil or 1.7mil. Similar this 850K 1 dennis st is a bargain for a corner. usually corners are a premium

 

thanks melbournian

is yarraville at the top of the cycle at the moment. the prices seem to be continually inching up and holding
do u think there may be a better time to buy there in a 1yr or 2, if u forsee a slight correction or do u see more upside in this cycle.

thanks in advance

 

The forgotten component of the question is affordability. Affordability might rule one or two of the options out anyhow, in which case the other option looks good

 

Well question is how much u think u gonna save and how much u think it could possibly go down?

I once exited Doncaster at ard 800-900kish and now It is 1.2-1.4 mil. Was hoping it came down but really it never went below 1 mil for the block I wanted

Depends what u aiming for in Yarraville - I personally like those cottages which u can renovate etc and do and an upper storey extension to manufacture growth