VIC Sub 450K Investment property

Am looking at purchasing a sub 450K to 500K investment property.
looking at the various options, suburbs of interest are Melton and Wyndham Vale. Did look at regional options but all appear to be at their peak due to the recent regional demand spike. What are your thoughts on Melton? what are the best parts of Melton to consider investing in? (areas within Melton - South/west / nearby etc.) All replies are appreciated, thanks in advance. Any other areas with 5 to 10-year growth potential in the Melbourne region also welcome. thanks,

 

I am in a similar position as yourself so take this comment as a grain of salt. I personally looked into Wyndham vale and 5 to 10 year growth might be optimistic for it because of the new estates surrounding it. In other words, there'll be a great amount of housing supply that stops capital growth from happening

Wyndham vale has been recommended in this forum before though and I'm pretty sure I've seen someone post they had an IP there - hopefully someone else more experienced can offer you some further insight

 

Are you familiar with the area? I've never been a melton fan, but I live nearby so that's ingrained I think.

Their market has been odd. Had a big boom once then gone back down. There are a lot of suburbs popping up in between melton and Melbourne which will limit growth I feel.

Personally I've been looking at Geelong, plenty of options for similar price range, viable commuter city next to the beach, gives people a better lifestyle option than a melton. That's why Bacchus Marsh has grown more than melton, people move further out for lifestyle.

But that's just my view.