VIC saint alban the most overrated suburb in western suburb at the moment

Well - it depends why would you want a full size block as the units are not expensive. you are also subjected to the "garden requirement rules" which hits in at 400sqm you better of having a strategic block of 2 back and rear. or wait till unit prices are more exp and demo both and put 3.

 

i have got nothing against vietnamese people or other race.My point is demography influence the property price too. i am nepalese and immigrant who came to aus 7 yr ago. i know how hard life is especially for those people who come from non english speaking countries. I have gone through it. Lot of immigrant has compromised lot of things and move on their life.

 

Overrated based upon the demographic and length of commute? How much research have you done into the suburbs long term plan?
What do you consider good property fundamentals?

St.Albans for someone looking to do a long term hold is a ripper. Major road works are currently underway to improve access, multiple train stations and when they finally build city/airport it's likely it will run through their. Hospitals, schools, shopping/restaurants.
Then their is the Melbourne 2050 plan which has it pegged as a central pillar of the West.
Currently going through development with older 60/70s homes making way for townhouses.

For the money to secure a block for future development I really don't know many better suburbs in Melbourne ATM.

 

The beef noodle is not over rated! Trust me on that

 

Definitely Song Huong is where you can get a nice bowl of Bun Bo Hue and Vietnamese coffee and across the road a great Vietnamese bread roll for later

 

I grew up in St Albans and I reckon I turned out just fine

When they finally redeveloped the station and relocated the train line underground, well it brought a tear to my eye. Screaming out for it for decades.

I have two IPs in St Albans and have seen 100% growth in the last decade. Not retiring figures right there but I'm definetely holding long term.

Too much buzz and development going on.

 

Was out inspecting properties in St Albans last Saturday. As mentioned earlier in the post, very strong Vietnamese demographic in the area. Being from the south east suburbs myself the area reminded me of Springvale.

Checked out a few properties in the North West pocket of St Albans (west of Keilor Plains station) which seems to be the cheapest pocket of the suburb. Also looked at a couple properties a few hundred meters away, on the other side of Kings Rd in the suburb of Kings Park. I definitely found this part of the suburb nicer than the pocket of St Albans mentioned above, more of a homely feel and felt a little more refined than the properties a few hundred meters away in St Albans. Interesting this is that Kings Park is actually cheaper and noticeably less people attending the auctions too. Thinking maybe it could be a good area to invest as it benefits from the St Albans amenities, while being a lower price entry point. Keilor Plains station is less than 2km's away too.

Interested to hear other peoples experiences of Kings Park.

 

Also attended the auction at 35 Walter Street, St Albans, Vic 3021 - Property Details
Corner block over 600m2 in the growth zone so knew it would demand a high price. Around 50 people at the auction, of which 90% would have been Vietnamese. Guy who won the auction definitely wasn't playing around. Bidding was in $5k increments when it hit $700k then he put in a strong bid of $720k. Someone else bid $721k and he hit straight back at $730k. He was even egging the other guy on to bid again so he could outbid him again, was rather entertaining lol. Curious to know what he will do with the property - assuming a development of some sort.

Oh and also enjoyed a delicious Banh Mi and iced coffee from a shop on Alfreida St afterwards

 

Good to see you enjoyed the banh mi. The property you are talking about is most likely in a RGZ zone allowing for development of apartments.

We also looked at the Kings Park, Albanvale and Delahey area and the biggest difference to St Albans is the transport. In some pockets of Kings Park you have to catch a bus then a train at St Albans and the buses can run sporadically or late. Whereas in most pockets of St Albans given there are 3 stations you can walk to either Ginifer, St Albans or Keilor Plains.

Back before they sent the trains underline there was a massive East vs West St Albans due to it being hard to travel from West Main Rd to East Main Rd. With the trains under now it is just a traffic light. I guess it is all perception and why there is still a divide between Pascoe Vale/Pascoe Vale South, Preston/Reservoir, St Albans/Kings Park people will generally pay a premium to be in a more premium location.

 

Yeah it was the RGZ indeed.
Totally understand the appeal of St Albans relative to some of its neighbours in regards to public transport facilities. I was impressed by the train stations all underground, very neat and traffic moved smoothly.
However since I'm trying to pick something up for mid 500's with some land, very limited to what I can afford in St Albans. The houses within my budget in St Albans are in the north west pocket (approx ~1km from Keilor Plains station) which I personally thought is still fairly rough. 800m west of those properties, I quite liked the feel of Kings Park (approx ~2km from Keilor Plains station), especially for the cheaper price. Heading back to attend a few more inspections tomorrow so will hopefully get a better feel for the suburbs!

 

@couq being u got a ppor in the area - How does it get done in terms of rentals? Do the Vietnamese prefer Vietnamese landlords and do mostly go through agents or privately ? I get the vibe that u need that network to get things done

 

I feel the rental market is strong. Every corner of St Albans has it's own strength.

The south West corner has university so great for tenants there
The South East Corner has the sunshine hospital which is again great for workers/doctors/nurses
The North East corner is the most expensive which is near shops
To me I feel the north west is the cheapest but by no means rougher than kings park. We have moved in and its quiet, easy going, bmw's, audi's so I believe its a nice area.
Close to everything. We bought in the mid 500's with a 500sqm block and there are opportunities. You have to be quick and strong with your negotiation as there is quick buying for the right properties

 

* 550sqm block

 

I am keen on St. Albans just studying up the areas atm. I know St. Albans but not as well as a local - u would be happy to know that a property in Seston st sold 840k

 

what was the address Melbournian?

 

Not stoking a fire, but St Albans has seen another quick jump in the last 2 months

Houses that were selling for $550000 are now going for $620000+

2 Ibsley Court, St Albans, Vic 3021 - Property Details
29 Gillespie Road, St Albans, Vic 3021 - View Sold History & Research Property Values - realestate.com.au

and houses selling for $600000 only 2 months ago are $650000
1 Orford Road, St Albans, Vic 3021 - Property Details

This is happening Melbourne wide but shows great growth of $60000 in 2 months!

 

For example of cheaper houses not too long ago
16 Harleston St May sold for $602000 (now 650000)
29 Gillespie Road, St Albans, Vic 3021 - View Sold History & Research Property Values - realestate.com.au


And examples of St Albans West sold for $550000 and $565000 (now $630000)
12 Altyre Court, St Albans, Vic 3021 - Property Details
7 Revell Crescent, St Albans, Vic 3021 - Property Details

 

16 Harleston Street, St Albans, Vic 3021 - Property Details
that was link for 16 harleston

 

I was also looking at the Kings Park/St Albans market around June/July and noticed the movement. Agents literally jacked up prices by $30k on 1 July factoring in the stamp duty changes. There has been demand to meet the increase in price also it seems..

Also noticed a similar story in Werribee (and guessing this happened in many other areas also)

 

Hi
Sorry to bring up an old thread but just wondering how St Albans is doing now

Def seems as if things have slowed down from the 1 mil days (though some properties are still being listed for that)

Is there much demand from what I can see around 600k for a older house on a decent size block and 500k for a shiny 3/2/1 townhome?

If long term would it be worth paying maybe another 100k and getting something more development worthy (even If there is no intention)

Am seeing a lot of townhome/houses with some being nice houses but on 200m2. From people on the ground is there an idea that maybe there is an oversupply or are the demands quiet high?