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VIC Tarneit

Discussion in 'Where to Buy' started by Arashi87, 4th Aug, 2015.

  1. Arashi87

    Arashi87 Well-Known Member

    Joined:
    19th Jun, 2015
    Posts:
    101
    Location:
    Sydney
    Any investor bought or looking at this little town west of melb?
    image.jpg
    New station built in June

    Red - future town centre

    Blue - future commercial centre


    From research, south and south west of the new station is getting very hot price from 400-500k for 4 bedder house 400-600sqm.

    New H&L package 450-500k with only max 250-400sqm ... But a bit closer to the station.

    Any thoughts on the towns future? Growth potential?

    Maybe oversupply of houses in few years? Heard they are going to build few thousands of houses there lol.......
     
  2. pianissimo

    pianissimo Member

    Joined:
    25th Jun, 2015
    Posts:
    24
    Location:
    Australia
    Friend bought one in 2010 for $330k and sold last month for $410k. $80k for 5 years.... Not an ideal investment return.
     
  3. Arashi87

    Arashi87 Well-Known Member

    Joined:
    19th Jun, 2015
    Posts:
    101
    Location:
    Sydney
    There was no station in those 5 years ...... history does not prove anything in this case
     
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  4. Greyghost

    Greyghost Well-Known Member

    Joined:
    23rd Jun, 2015
    Posts:
    1,262
    Location:
    Melbourne
    Land land land...
    Weribee, Melton, point cook, derrimut..
    All these areas have so much land around them it's not funny. Farms upon farms!

    For 300k mark they would be okay as a cf deal.. But for close to 450-500k that is a lot of cash to through at an area like this..
    I think you can made 450-500k work much harder than this..
    I understand the appeal of new amenities going in, but there is still too much supply
     
  5. giswal22

    giswal22 Well-Known Member

    Joined:
    13th Jul, 2015
    Posts:
    51
    Location:
    Melbourne
    I know the area well, i was working on the train line which is now completed. There is a massive over supply of housing there so i guess you have to ask yourself 'why would someone want my property and not next doors, or across the street, etc' There is so much land out there that they will just keep smashing estates up causing the old supply/demand see-saw to shift.
     
  6. Hodge

    Hodge Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    514
    Location:
    Melbourne
    Have you seen the traffic in Tarneit? Some days it's faster to walk than drive.
     
  7. pianissimo

    pianissimo Member

    Joined:
    25th Jun, 2015
    Posts:
    24
    Location:
    Australia
    Tarneit station opened in June and he sold the house last month after the station.
     
  8. Natedog

    Natedog Well-Known Member

    Joined:
    19th Jun, 2015
    Posts:
    276
    Location:
    Melbourne
    What he said
     
  9. jpcashflow

    jpcashflow Well-Known Member Business Member

    Joined:
    21st Jun, 2015
    Posts:
    371
    Location:
    Melbourne
    Hi,
    The issue with Tarneit is that there are to many new homes being built. Some parts of Tarneit have to many rental homes.

    Your better off looking at some parts of Werribee or hoppers crossing!!!
     
  10. Beelzebub

    Beelzebub Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    574
    Location:
    Lost
    Yes, but where in Melbourne can you purchase a house walking distance to a train station for sub 400k? I think it's certainly worth more thought and investigation. I had a look at Westbrook estate myself and thought it looked good: can't buy at the moment though.
     
  11. Spiderman

    Spiderman Well-Known Member

    Joined:
    30th Jun, 2015
    Posts:
    119
    Location:
    Vic
    Numerous, eg. Frankston North, Pakenham, Cranbourne, Craigieburn, Laverton, St Albans, Hoppers, Werribee. Some of the above under $300k.
     
    S.T likes this.