South East Suburbs / Bayside Melbourne

Hello,

2 years ago I purchased in Edithvale and my property has done really well. But or few have risen and I can't afford an investment property in 3196.

I was thinking Chelsea would be next to increase as it's next door, but one issue is Chelsea has an average name ATM.

Where do you guys think is a good place to buy in South East Suburbs? And why?

Thanks

 

i would have said seaford, but probably not now , its too expensive, same with carrum. if anywhere if you plan just to invest, maybe carrum downs or frankston north.

 

I wouldn't have a problem investing in Chelsea, good access to beach/train.. The name isn't really an issue.
I'd also have a look at Carrum.

Having said that, all those suburbs along Neapean Hwy have had good increases over the last couple of years.. I'd wonder how much steam is left in them in the current cycle and whether it may be better investing elsewhere...

 

Hi

I would think Chelsea is a fantastic choice. It has the largest choice/selection of shops between Frankston and Mordialloc along the Nepean Highway.

Regards,

alicudi

 

Chelsea/Bonbeach/Carrum are all good. But if you want a house and your budget doesn't stretch that far consider Karingal near the shopping centre and Frankston - Cranbourne Rd.

Apart from being near the new aquatic centre, it (and western parts of Langwarrin) has just had a big transport upgrade with buses every 10 min on weekdays to Frankston. A new Cranbourne bus network - Public Transport Victoria

The trade-off is it's a bit further from the beach and train than Frankston North. Plus Frankston North is handier to the employment areas at Carrum Downs and Dandenong South.

 

I think Chelsea is great too, as well as Carrum/Bonbeach/Cranbourne/Seaford if you can afford in these areas...

In September and October when I was looking at Carrum Downs and Cranbourne/Cranbourne West/East, it was honestly just madness... new and old properties were under contract on the same day as being listed, or at the first inspection.

Older homes on large blocks of land near Cranbourne shopping centre were selling for 70k-100k above price guidelines. I lost out, even submitting the highest offer, because I included a building and pest inspection clause in my offer

Another smaller home in Carrum Downs that backed RIGHT onto the Mornington Peninsula highway sold within a week of me telling the agent I wasn't interested. It didn't seem to matter to the next buyer (no offense if anyone here bought that property!)

I wonder if the area is still running hot now...

 

Yep- still hot.

 

Is there any place in the South East that is not very hot. At this moment in the market, I assume every suburb in the South East is hot and lots of competition.

 

I've just spent a pleasant weekend in Mordialloc and it does look like prices have risen quite a bit since I was last here 12mths ago. I really like the suburb though.

 

Just about to settle on a property down in Cranbourne! Bought the place with plans and permits to subdivide, crazy to see how many people inspect properties in the area, hot suburb indeed

 

Wow what a responsive forum, thank you everybody. Yes its crazy around here right now, now with the wonders of hindsight I wish I purchased much earlier, but maybe in 2 years time things will have increased substantially again. 700k sounded a lot 2.5 years ago, but very cheap now. But as Connor mentioned, I wonder how much more these suburbs can grow.. Is the medium house price going to be 1mil in 2 years!? Sounds a lot.. but I think Chelsea might still have a few bargains around, maybe.. Thanks again guys, looking forward to reading some of the threads here

 

Handy but non bay side of the highway houses have already exceeded $1m. House is not much (2 br) but land is worth a lot with all the townhouses etc going up.

50 Catherine Avenue, Chelsea - Report, Sold Price