VIC Should I invest in Rockbank $350k?

Rockbank is newly developing with many estates budding. Does anyone have any thoughts if I invest here for a home & land package for $350k, is it worth investing?
Land size is in this budget is 260sqm to 300sqm. 3Bedroom single storey home.
Is it good for rental income? How is the growth prospect for Rockbank?

 

You could buy something quite nice with bigger land than that in Ballarat - you'd have to do the math - but I don't think Rockbank has as much character

 

No. You can buy an established house on double the land for that amount in somewhere like Hoppers Crossing. Or even the likes of Laverton or St Albans, which despite their reputations, are much nearer more jobs.

Rockbank is in the middle of nowhere and will remain so for years. Except in a few 'hot' years, houses on new estates often depreciate or stay static before they appreciate. This is a particular risk on investor-dominated estates (basically a suburban equivalent of Docklands apartments).

 

Thanks very much Weaver and Spiderman. That's great. Really appreciate your views. I'll scratch out Rockbank.