VIC Thomastown or Lalor for IP around 600K

Discussion in 'Where to Buy' started by James Baker, 11th Oct, 2017.

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  1. James Baker

    James Baker Well-Known Member

    Joined:
    21st Mar, 2017
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    Location:
    Melbourne
    I am looking to buy an investment property around 600k
    Have narrowed down to Thomastown and Lalor
    Both have several houses in the 600k range within 500-750M from station

    In your opinion, which is better
    Thomastown or Lalor ?
    Also is the left side or the right side of the train station better in both suburbs ?
    Any specific area I should aim for or avoid ?

    Cheers
     
    Last edited: 11th Oct, 2017
    James Baker, 11th Oct, 2017
    #1
  2. James Baker

    James Baker Well-Known Member

    Joined:
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    Location:
    Melbourne
    Anyone?

    Cheers
     
    James Baker, 11th Oct, 2017
    #2
  3. The Y-man

    The Y-man Moderator Staff Member

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    Location:
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    T-town station is nicer (premium). Lalor station is a bit barren (just a platform in the middle of nowhere).

    Having said that, our unit is near Lalor stn, which also has more parking.

    The Y-man
     
    The Y-man, 11th Oct, 2017
    #3
  4. Iyc10

    Iyc10 New Member

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    Location:
    Melbourne
    Thomastown and the left side going towards epping is much cleaner new tree program throughout houses are being renovated with 3 bedroom townhouses being built council are fixing roads and footpaths otherside has many two bedroom commission units with tired looking houses and streets
     
    Iyc10, 11th Oct, 2017
    #4
  5. Roshy

    Roshy Active Member

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    Location:
    Victoria
    Thomastown. Left side is nice. It’s easier to get to Epping Shopping without having to cross the train tracks. Busses run along that road too. Not to mention, T/H is also closer to the CBD.
     
    Roshy, 12th Oct, 2017
    #5
  6. Iyc10

    Iyc10 New Member

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    Had a agent give me a estimate in june and again yesterday with a 40k drop with a possible further drop next year i would hold off happened in reservoir in 2011 dropped from 480k to 420k now its close to 900k cannot see the same happing with interest rate rises coming and a economy stagnate and high level of debt will decline for awhile maybe hold off and sit on the sidelines through the storm
     
    Iyc10, 12th Oct, 2017
    #6
  7. JL1

    JL1 Well-Known Member

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    Last christmas these places were selling for 450k. I reckon youve missed the boat, the price difference to reservoir is just too narrow now for any real capital gains and rents are firmly pinned in the low 300s. They now cost more than building new a suburb or 2 out, so value is fading.

    I was looking into them over xmas for my folks and found that the thomastown train station is one of the highest crime ones north of the city. Second after broadmeadows i believe. Seems like 6 in one half a dozen in the other - theyre loe socio-economic areas and really, luck of who is living on the street will play a part.

    I think you should do the math on it - whats it going to cost to hold (allowing for rate rises), cost to buy including fees, and potential profit over the next few years.
     
    JL1, 12th Oct, 2017
    #7