VIC Suburbs to Invest in Western Melb

Discussion in 'Where to Buy' started by pijankengur, 7th Jul, 2017.

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  1. pijankengur

    pijankengur Member

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    Hi All,

    I am currently living in Sydney, but in under a month I will be moving to Melbourne as I have obtained a job in the inner west (around Footscray).

    I am looking to purchase a PPOR in Melbournes western suburbs, in an area which will see capital growth in the longer term. I have a German Shepherd dog who I would want to bring down with me as soon as I purchase the property, so a free standing home would be much preferred or at the very least it must be a property where dogs are allowed.

    I currently have 170k in savings and will be on a salary of 90k.

    I have not yet owned a home so I believe I am applicable for a First Homeowner Grant, but I am not too fussed on this. Obviously I would prefer to get a property for 600k or less to take advantage of the stamp duty concession in the fullest.

    Given my circumstances I am just after some guidance and some suburb suggestions. Any help would be much appreciated.

    Thanks all
     
  2. Ouchmyknees

    Ouchmyknees Well-Known Member

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    If you want to take advantage of the grant, you wont find anything in footscray, seddon or yarraville, even for a two bedroom house. For maidstone you may get something decent but it wont be a fully renoed one.
    Sunshine is further out but it is getting gentrified.
     
  3. larrylarry

    larrylarry Well-Known Member

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    The cheapest in Sunshine I can see from Re.Com is at least $600K unless we are talking about townhouses.
     
  4. Birdseed

    Birdseed Well-Known Member

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    Altona Meadows is your sweet spot my friend... Get in under the 600K while you still can.

    More PPOR-friendly than a lot of the other western suburbs more frequently tossed around on PC too.
     
  5. MikeyBallarat

    MikeyBallarat Well-Known Member

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    Sunshine Central around Monash St, Parsons St and Matthews St is Melbourne's best real estate by far. This would be my starting point. It's 7min to Footscray, and you can walk to the station.

    Sunshine West (near Glengala Road) or Ardeer if you want a more affordable option (600-700k).

    If you are looking for yet more affordable then try Keilor (Calder Rise Estate), Kealba or Keilor Downs (south side near Keilor Plains station). Taylors Lakes also gorgeous but the houses are quite large (when the estate first opened in the 80s there was a 16 square minimum for the builds). It's a 20-25min commute by train.

    All the aforementioned suburbs are on the same train line as Footscray (the Sunbury line).

    If you want to spend 350-400k, buy in tree lined Sunbury, enjoy the peace and tranquility and the backdrop of the Macedon Ranges. It's 21 minutes to Footscray on the V Line (country train), and it's 34 minutes on the Metro train.

    Other alternative - buy a Californian Bungalow or similar weatherboard heritage home in Geelong near the station and commute in, it's 50 min Geelong->Footscray. You can buy a heritage weatherboard in Geelong North for around 500k, walk to the North Geelong train station, and be in Footscray in 45 minutes. Footscray is on the Geelong V Line route. You'll have easy access to the gorgeous Geelong CBD and waterfront, Pakington St (our Chapel St equivalent), the Great Ocean Rd and Bellarine Peninsula.
     
  6. pijankengur

    pijankengur Member

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    Thanks all. I'll be looking carefully into Sunshine West and Altona Meadows.

    Cheers!
     
  7. willister

    willister Well-Known Member

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    IMHO Altona Meadows looks a better bet.
     
  8. Anthony Brew

    Anthony Brew Well-Known Member

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    Hi willister.

    From what I've read, I thought that sunshine has more development and is the more desirable, and as such is a higher priced, suburb (?)
    If this is correct (not sure it is), I would have though it will grow the most as there is a reason it is more desirable, and desirability is often right at the top of the list of what will propel growth.

    I am a newbie to property though so I am probably wrong. Would you mind letting me know why Altona Meadows looks like a better choice?
     
  9. mazwegian

    mazwegian Member

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    Other alternative - buy a Californian Bungalow or similar weatherboard heritage home in Geelong near the station and commute in, it's 50 min Geelong->Footscray. You can buy a heritage weatherboard in Geelong North for around 500k, walk to the North Geelong train station, and be in Footscray in 45 minutes. Footscray is on the Geelong V Line route. You'll have easy access to the gorgeous Geelong CBD and waterfront, Pakington St (our Chapel St equivalent), the Great Ocean Rd and Bellarine Peninsula.[/QUOTE]

    Is there a reason you mention heritage home in Geelong over a new home in Gellong? Do you see these having more capital growth in the long run?
     
    Dave3214 likes this.
  10. apk

    apk Well-Known Member

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    @pijankengur Do you need to buy now?

    How about rent in one of those areas mentioned and do lot of inspections, attend few auctions spring is not far away. If you plan well you can celebrate christmas in your new PPOR. ;)
     
  11. Jasper

    Jasper Well-Known Member

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    Should be looking at something cheaper than 500k in North Geelong....that's expensive for that suburb.
     
  12. Dave3214

    Dave3214 Well-Known Member

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    Those would be the near West places along those streets running off Church St, they are of similar style to much of Geelong West's housing. (Californian bungalows etc) Once you get into places beyond Victoria St you enter $$350-ish territory for the older places.
     
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  13. mickyyyy

    mickyyyy Well-Known Member

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    What areas are around 400k mark which are good to invest in?
     
  14. Property God

    Property God Active Member

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    If you working in near footscray and your budget is 650k you should buy a townhouse as close to footscray / city as possible. For your price Maidstone would be the best as there are many freestanding 2 bedroom townhouses there from 620k to 670k.

    Its also concidered inner-west (within 10km from city) which is what you asked for in your original post. You can also enjoy the life in the CBD easier if you live inner-west.