VIC Somebody suggested Sunbury for IP

Discussion in 'Where to Buy' started by James Baker, 27th Oct, 2017.

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  1. James Baker

    James Baker Well-Known Member

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    Hi there

    While discussing about IP, I was strongly suggested to look into Sunbury

    Quite a few properties available there within the 600-700k range

    What is your opinion ?
    Within Sunbury, I am sure there would be good and bad pockets

    Any good pockets you can recommend I can invest and bad pockets , I should not touch with a pole ?

    Cheers
     
    Last edited: 27th Oct, 2017
  2. The Y-man

    The Y-man Moderator Staff Member

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  3. James Baker

    James Baker Well-Known Member

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    Anyone ?


    Cheers
     
  4. Westie

    Westie Well-Known Member

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    Sorry guys, not familiar enough with Sunbury to recommend good pockets. Broadly, for an IP, look for something walkable to the train station there. There's a new estate or two near the station there that may be worth a look, but the boat with H&L there has probably sailed like it has for most of Melbourne. @James Baker, have you had a look at the thread @melbournian posted about the various zones in Melbourne? You might just be able to snag a property in Werribee for your budget in the growth zone there.
     
  5. James Baker

    James Baker Well-Known Member

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    Want to avoid going to the crime hotspot areas
    I think Werribee falls in that category
    Please correct me if I am wrong

    Cheers
     
  6. Westie

    Westie Well-Known Member

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    For an IP, think with your head not the heart as much. You want growth. You want some cash flow to go with it too. I doubt there'd be a better option than Werribee for your budget, but you need to get your skates on as even in Werribee the yields are getting worse.
     
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  7. JD86

    JD86 Member

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    Any other opinions on Sunbury?

    Sunbury is also on my radar for my partner to use her FHOG at the moment.

    Any opinions welcome.
     
  8. Westie

    Westie Well-Known Member

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    Should do awright long term with people being priced out of Taylors Lakes, Keilor etc. Buy well.
     
  9. JetstreamVic

    JetstreamVic Well-Known Member

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    I would pass on Sunbury.

    It would only be good if you were going to try and get someone who worked for an airline due to how close it is to Melb Airport - The counter for that is that a lot of those kinds of people are buying in Tullamarine/Gladstone Park where they can be close to the airport AND be Melbourne side.

    Also you fall into the Hume LGA, and they are worried about spending all their money on Craigieburn as that part is booming and Sunbury kinda gets forgotten about - There is actually a pretty big distance between Broadmeadows (where head office is) and Sunbury. For a while in fact, Sunbury wanted it's own council.

    As far as public transport goes, it was recently (relatively speaking) electrified out to Sunbury, which is a plus, but not much goes on in Sunbury.

    Can't see it as having many driving factors that would increase growth.
     
  10. private_number

    private_number Well-Known Member

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    Why not Melton instead?
     
  11. Greyghost

    Greyghost Well-Known Member

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    Sunbury used to be called 'Ansett Town', as when affordability wasn't so much of an issue it housed many Ansett workers due to its proximity to the airport and price point.
    These days it has many new pockets, shops etc and people are commuting to Melbourne CBD each day from Sunbury. I personally know if 6 people who do so.
    It has metro rail, vline rail, freeway access.
    Yes it is somewhat separated from Taylor's Lakes etc but it's only 8 minutes or less to Taylor's lakes/Watergarden's shopping centre.

    Would I invest there? Probably not. The growth driver is predominantly affordability issues in other suburbs, not self generated growth, so it will be heavily correlated to the performance of neighbouring suburbs and be one of the last to grow in the 'ripple effect' stage.
    $600k is a lot of money to spend on such a property. For that you could buy in St. Albans, Deer Park, Gladstone Park (train station issue), Fawkner, Jacana etc.

    If it was an owner occ decision buying in Sunbury I would say sure, but I am undecided whether it is worthy of $600k investment at this point..
     
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  12. SOP

    SOP Active Member

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    Alot of Urban Growth land.
     
  13. Skinman

    Skinman Well-Known Member

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    Hi James,

    Did you end up buying in Sunbury? I'm currently looking to purchases and it's on my shortlist although more around the $450k buy in point.

    I'm just wondering if I have missed the boat?

    Cheers.
     
  14. housechopper2

    housechopper2 Well-Known Member

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