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Rise of the Melbourne Western suburbs?

Discussion in 'General Property Chat' started by willister, 22nd Feb, 2016.

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  1. willister

    willister Member

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    Anyone see that $930K or so auction in Sunshine? Very nice Weatherboard Façade house!

    Once off or knocking on the million dollar average door? Will growth shift to only the West?

    Will the gap finally close between the East and West? I have invested 1 house (Braybrook) in the West - whilst living in the East for most of my life...Braybrook has not seen astronomical growth as it really has no real town or station (unlike Sunshine, St. Albans etc.)

    My best guess? The West should rise to $700K averages, especially suburbs within 20kms as this is what

    Before this gets into a East vs West bashing thread, just my thoughts, I think it should be on par with South Eastern Suburbs like Clayton, Springvale, Mulgrave etc. so I think it should push to the $700K barrier average.

    I currently live in Ashwood (renting) and I can understand why it's just a little bit "finer" than most of the Western suburbs. Some of the reasons why:

    1. Somewhat more lush green around here than the mostly flat West.
    2. Better selection of private and public schools.
    3. Better access to universities - Deakin Burwood, Monash Clayton, Swinburne Hawthorn are relatively close whilst Melbourne University and RMIT are in the CBD, so only slightly further out.
     
  2. jpcashflow

    jpcashflow Well-Known Member Business Member

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    Hi Willister,
    I went to the auction my self and only a few real bidders but man it was smoking!!!
    I went to another auction in Cairlea and it also fetched 800K+.
    As I have said in many post before, the west is a good place to invest :)
     
  3. larrylarry

    larrylarry Well-Known Member

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    When you said West, as in West of sunshine? Where's the divide between east and west? I'm going down to Glen Waverley visiting family during the Easter period. I have to agree when looking at the western suburbs like truganina. Werribee, point Cook and surrounds, there's not much green and there's much dirt.i personally don't think the west will catch up with east in terms of price anytime soon. I'm hoping to check out estates in mickleham, truganina, Werribee etc.
     
  4. melbournian

    melbournian Well-Known Member

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    west i think that will pickup would be yarraville, maidstone, footscray and sunshine.
     
  5. zed_kid

    zed_kid Well-Known Member

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    The west will never outpace the east as the west is where people move to when priced out of the east and north.
     
  6. EN710

    EN710 Well-Known Member

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    For now :)
     
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  7. albanga

    albanga Well-Known Member

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    @melbournian is correct in terms of the best places to look for capital growth.
    Places like point cook, weribee, Williams landing.etc are surrounded by land with a single access freeway into the CBD, IMO these places have limited potential.
    The inner west and north west however have a heap of potential, they will not outdo the east in terms of median price but I would anticipate more growth due to the simple fact they have a heap of ground to make up.
    I'm somewhat biased with the north west as I live there but it has every amenity the north east does for 500k cheaper.

    Give me the option for a 3 bedroom home in Ivanhoe for 1.3mil or a 3 bedroom home in essendon for 1mil, I'll be happy to pocket the 300k and use it to see all the greenery and ocean blue I want for the next 20 years.
     
  8. melbournian

    melbournian Well-Known Member

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    i agree though it will catchup slowly
    preston - northern suburb had 6 out 9 auction passed in last week
    Reservoir week before had a 650sqm block passed in at 480K and sold 500K

    i think places like footscray and maidstone (i believe a madistone block sold 900Kish 2 weeks as well)
     
  9. LMD

    LMD Well-Known Member

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    Just bought IP1 out in the west and I also believe that it is only time until the west starts to play catch-up. Not everyone who is looking to buy a IP or PPOR can afford out in the East (like me) and having lived in the east all my life, the west always had that stigma, but since driving around and studying the streets, it aint too bad :D
     
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  10. larrylarry

    larrylarry Well-Known Member

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    Where's your IP?
     
  11. willister

    willister Member

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    My friend calls it the transit lounge for those noveau rich people as a gateway the East lol.

    Seriously though, I think the lack of lush green landscape is the biggest drawback of the inner west/west in general. That and probably the lack of options when it comes to schools - but that can be improved over time.

    What I could never quite figure out is the actual gap between the East and Western suburbs until very recently.
     
  12. LMD

    LMD Well-Known Member

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    Hasnt settled yet but will be happy to share once it has :)
     
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  13. LMD

    LMD Well-Known Member

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    but in the mean time, can we hype Western Suburbs please :cool:
     
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