VIC Rise of the Melbourne Western suburbs?

Haha no..I live in Chadstone and didnt buy any IP in St. Albans...

I think you gotr something against the Western suburbs.

Tell me, would you rather live that far out in the east and commute to the CBD or much closer in the west?>

 

I like the West, really like the inner west but there's no comparison. Physically the East is much nicer and the schools are better

The good parts of the West get to $1m median and the good parts of the East are already over $2m median

Comparing 20km west to 35km+ south and east might be valid though

 

Keep in mind distance to city doesn't always translate to a quick commute. Ask those taking the westgate daily..

Anecdotal however a mate would take longer to get to work with a tram trip to footscray station then the train ride, than what I would take from heathmont. Same mate was looking at sunshine north at one point until he realized how much of a black hole it is public transport wise

Of course though, some parts of the West are fantastically serviced for pt

 

Yes I agree distance doesn't always make it much better of commute but I can tell you even if Melbourne had a bullet train, the actual distance just kills me personally, I'd rather live closer. I've lived in Footscray proper, St Albans and now Chadstone, by far the easiest commute to the CBD was Footscray proper.

The West lacks transport options/access, but that won't change. I work on the outskirts of the CBD and I two options of going to and from work. I either train it to Flinders and then tram it or I take the tram from flinders down to Glen Iris and then train it back, if I had to visit my parents in Glenny (Waverley) I could even bus it from Glen Iris station. You can't do this for most of the West.

 

western suburb has only western free way. To come to city it takes really long time, traffic is jam all the time. Hardly u can drive in 100k. Demographic of western suburb and neighborhood is less appealing. Even u catch a train @ night time , it is very scary. Eastern suburb has napean higway, princess highway, monash freeway, eastern freeway to come to city. Demographic is good, chinese people and south asian people are very good .They have seen tough life here in australia. they want their children to have better education and teach them family values right from the childhood to succeed in their life.

 

I am in the same thoughts as the prices jump did suprise me.
Initially when I bought it was purely barren land with nothing in site but look at it now. there are actually a lot more greens as the parks weren't there. take trip to feathebrook estate or alamanda or sancturary lakes it is amazing the views and landscpae
The guy who bought my place was an Indian guy. Senior management in a big 4 consulting and he wanted it as he had friends on the street.

My view is that not everyone can afford a house in glen waverley (the emergence of new generation of individuals within 2-3 years of working) with average salaries and these people who want to start a family or want to own a home have only certain options. Pt cook being one of them for brand new houses. Also the indians as a demographic moved pt cook williams landing etc. They may not be as wealthy as the mainland chinese in terms of sheer volume but equally hardworking to make it works and that is what is happening.

certain demographcis like to live with their own demographics happens to every communites, indian, middle eastern, chinese, that is why you got the box hills, the springvales, the broadmeadows etc. and it doesn't change.

 

i lived in clayton before (went to uni) and also worked there for many years , owned in north, west, east. therea re pros and cons. no doubt living in glen waverley, mt waverley and those areas are good however

However have a thought for upcoming generation and where they are going to buy. Not everyone can afford to buy in suburb X of the east as it is expensive. Hence why other suburbs are moving. This is no different to the 90s and 2000s when the chinese populated box hill, when it got expensive they moved, doncaster, doncaster east donvale, mitcham, blackburn.

Even clayton wasn't a chinese enclave when i was there. it only recently moved when glen waverley got exp and also due to the proximity to monash university.

In the north it is no different, when thronbury and northcote got exp, it moved to preston now reservoir and there is higher probability is lalor and thomastown would experienced a mini boom.

Same as West, when the yarravilles, seddons etc all got expensive it moved to sunshines and now the st albans.

Pt cook demographcis are quite similar to some places in the east. but even the east has some bad demographics would you stay in doveton for example?
Again better to buy in suburb that will have that mini boom then to throw say for e.g. 1 mil into the east. when it has already grown and unlikely to have significant growth.

 

Glen Waverley is now stuck in a very large rut, I think it has peaked or is at peak - my folk's street has 4-5 empty McMansions just sitting there with overgrown grass. A couple have been on the market for well over 6 months...

The Indians are also big in Narre Warren I think...

I have noticed one major point of difference between Mainland Chinese and Indians when it comes to buying property, whilst both love to congregate, I see Indians are more of a calculated buyer, whatever fits the budget better they will buy whereas Chinese just love to buy at any crazy price and only a few specific suburbs. Partially this is because the Chinese economy is more developed and hence a larger wealthier/middle class base.

As for green pastures, well you won't get get much in the West being blunt you won't get as green as the East. Isn't the West original a plateau? IMHO the only real bits of lush green in Melbourne is between the arc from Burwood to Bundoora in the North.

 

there are many many types of indians (gujaratis, punjabis, tamils etc) some have $$ some not as much.

there is super big piece of land that was paid top dollar *millions) by an indian (carinish rd, clayton just off the tracks)

take this for example your fav reza the last sale was 535K -2016 and then 2017 772K ( 1 year) now that is mini boom (in reservoir where an indian beat a mainlander chinese). there are occurences of this too in balywn which i have seen. too. But the point being - you want to purchase ips with the highest probablities that it will grow like this. i have picked and seen many move like these in auction in the past from the likes maidstone, ringwood etc. though only took a hit on others later. my preidction lalor and thomastown after going to last week auctions

no doubt east has some green pastures but take a drive to sanctuary lakes and tell me if there is anything like that in the east with the exception of waterways

 

Everything goes up during a boom, albeit to varying degrees. The outer western suburbs are doing well now but as soon as there is any correction in prices, it will be one of the first areas to go back down. The prices are just completely out of step with the demographics of the area.

I'm personally not a fan of the lakefront McMansions - the houses in these areas are very cookie cutter in design and the areas generally look quite sterile. You'd think people are buying in Venice or something

 

I disagree. Well with Outer West Melb at least. A correction implies that prices are over inflated. I hardly think they are over inflated. Many see the value in those suburbs...price point vs commute to CBD vs infrastructure and in established suburbs.

The demographics are mixed but a major part of the activity is from professional immigrants buying into these areas, and spending 500k-700k on places to live. All it takes is a weekend of attending a few opens and land estates to see the scores of new Australians in their mid range prestige cars looking for homes for their families.
These's aren't the demographic of people just scraping by to get a mortgage.

If we were taking fringe suburbs in the middle of nowhere surrounded by nothing, with negligible ammenities and infrastructure then I'd definitely agree. But this is Metro Melb we're looking at. 20-30min drive to the CBD.

 

Just stating the obvious Reservoir gone nuts, however the 772K property has been extended and renovated, what do you think $120K on reno/extension????? on this

 

Number 52 and 57, not the same house?? But yeah an extra bedroom and 2 bathrooms have to count for something

 

there're pre-existing ex-housing comm house (with mainly just a deck etc_- i've seen the renovations they're not that flash as the pics

Try this example --google --> Winter crescent, reservoir and find all the houses listed (you will april last year 500kish) and recenltly high 700Kish with next to no renovations

also 67 Kirby sold dec 2015 - 538K and was equally extensively renovated.

 

ok - try this

 

Not denying reservoir has gone bananas, I looked into buying in thomastown earlier this year but felt I had missed the boat

 

True but I think Thomastown will jump again as Preston and reservoir get too exp. Yes but this example is replicated across Melbourne Maidstone Ringwood St. Albans sunshine where a suburb moves it moves in the space of 6-12 months like big percentages not the standard 5% etc the main question is working out the next suburb or the one that will experience it in Melbourne.

 

Hi Melbournian what would you think will be the next 'suburb' to make this jump? They can be as high as 20% a quarter!
The next ring looks like Deer Park, Derrimut, Kings Park, Sydenham, Albanvale in the West, Jacana Broadmeadows in the North West and Altona Meadows/Laverton in the West.

 

of the rest - altona meadows (close to altona) and williamstown is quite cheap 500-600Kish for blocks that were similar price in say reservoir 1 year ago that are now 700-900Kish.

 

I am looking around Greensborough, Eltham area too, what you think over there?