VIC Small land area

Discussion in 'Property Analysis' started by Cabricabri, 18th May, 2020.

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  1. Cabricabri

    Cabricabri Well-Known Member

    Joined:
    1st Dec, 2018
    Posts:
    49
    Location:
    Melbourne
    Hi,

    I’m looking to buy my next investment property as soon as the the COVID19’ dust settles a bit, hopefully by early next year.

    I already own an apartment in Thornbury. My plan was to buy a little house in inner Melbourne (Prahran, Carlton, Northcote, St Kilda, etc). I’m a FIFO worker so I don’t need accommodation for myself. I’m 33 years old.

    My price range is 800-900k. As the suburbs I’m looking into are expensive the only houses I can afford have a very small land component ( around 110 m2). Examples below.

    https://www.realestate.com.au/property-house-vic-windsor-133315478


    23 Bath Street, St Kilda, Vic 3182
    https://www.realestate.com.au/property-house-vic-st+kilda-133462702

    20 Paterson Street, Carlton North, Vic 3054
    https://www.realestate.com.au/property-house-vic-carlton+north-133365270

    I’m only interested in capital gain and don’t mind having a property with low yield.

    Would this type of property not the optimal for capital gain? If so, which type of property and suburb should I look into?

    Would Brisbane have better prospects?

    Thanks in advance!