VIC The Next Big Suburb in Melbourne?

Ok I understand they are obviously selling a product but I'm interested in hearing from PC where the you think the next suburb to take off is in Melbourne. It would obviously be good if someone can identify the suburb below.

The most staggering statistics I’ve ever seen

I've been scouring Melbourne for our fourth IP (1 NSW, ACT and Brissie) and looking for something around $400k (like the one below) with good potential for CG more than rental yield this time. We considered Broadmeadows, Sunbury, Craigieburn, South Morang, Wallert, Mernda, Epping, Lalor, Thomastown etc without any luck. We looking for land size >600+ with development potential (corner block would be a bonus). Thanks in advance

p.s. Will be updating my other post about my Loganlea property when it settles and is tenanted. Learned a lot through this process so stay turned

 

I like your diversification across states/ markets. Nice work,

$400k in Melbs with 600sqm & deve potential? Maybe in 2014.

You'll probably need another $100K+

I agree outer Melbourne would be a good move for you. Maybe even Geelong. Either way, anything in the outer suburbs at that price bracket is hot hot hot, so you better get your skates on.
Good luck with it.

 

My guess is eynesbury.

I'd like a prize thanks

 

Also came across an important factor to consider if thinking about investing in the area in the nearby homely reviews;

4/5
"Beautiful"
We were looking at a place that was quiet and away from everything. We found Eynesbury to be a wonderful place to live. Very clean and tidy. There are some drawbacks. You need to drive into Melton to shop. There is a fee of $1020 (roughly) per year for the life of the home to maintain parks and gardens. What I loved about this area is that you aren't allowed to have any cats!! Overall an awesome place to live and ideal for retirees. Just too far out for what we were looking for.

 

A prize for you......its pretty much Melton-Wyndham....country...infrastructure?

 

I don't know jack about it. I'm just a good googler! It seems to be patch of land in outer Melton which had 344 dwellings last census (2011) which has juked the stats.

 

Probably a developer teaser add......

 

It just spells H&L - Just looking at a few things existing parks and lakes which rules Some of the west but there is one place I think it is which is that is close to equestrian centre and 18 hole golf course like in beveridge it has the peppercon equestrian centre and then golf course. This is further off cragieburn

 

So the 64k question would you bother to invest there...I won't...I am biased..Melton is okay as it has infrastructure....

 

Is more marketing and re agency with developer looking to offload plots Still many ppl who are starting off without large deposits or high salaries would though

 

Ditto!

 

Looks like they are referring to Camberwell:
Suburb Data - Camberwell Suburb Profile

I think she uses clever wording, and her median of 459K refers to the median of the apartments in the block of 20 she is try to flog off!

 

Thanks mate Trying to build a diverse portfolio to reduce risk, thats what I learned in Economics anyway Yeah I realised that properties are hot, tried to buy one in Broadmeadows within a km from the station and most of them went close to 600k! May have to consider H+L package like @sash ! In this case, I may have to look around Mickleham, Wyndham Vale, Beveridge, maybe even Eynesbury. @sash you're on the ground there from memory, is your pick still Mickleham for this kind of package? What do you think is the smallest lot size that would be an acceptable to build single/double stories and would you buy a land that is already titled or not?

 

Haha Eynesbury does seem to meet the low vacancy (have one listing like the article), got the golf course equestrian centre, high owner occupancy rate ~91%, affordable, low unemployment rate and high median household income of ~$110k so seems to meet everything. Looks very tempting for sure! Worried about potential oversupply here with all the potential land releases, lack of amenities and economic drivers though. Is there any plans for its own town centre or will they use the surrounding centres?

 

I don't believe she is referring to Camberwell as the vacancy is not low and the owner occupier % is a fair bit lower than 90%. The only thing that seems to match is the median household income.

 

The stats def match eynesbury.

Check: Population, households & dwellings | Eynesbury Township | forecast.id

Eynesbury Demographics (VIC) Local Stats

Etc.

But you will see they are relying on 2011 census stats when there was only 350 odd dwellings. You can see in 2016 there are2500 but the other stats have not been updated. As it's a h&l area there are a truckload of for sale listings in the area on realestate.com for sale but only one rental. Very cheeky to market it this way...

I wouldn't suggest you buy there.

 

Hmm...a H+L area in the middle of freakin' nowhere...fudged stats from 2011...some flog 'expert' trying to sell ****...save your money

 

mickleham ix exie now the land i bought for 125k in 2015 is 200k. build i now 190k

 

Craigieburn.... As it's one of the fastest growing suburb (population wise) in Australia...
So property prises should definitely go up..
It has its own station n shopping centre.. N a beautiful aqua park opening soon..