VIC Thoughts on Atherstone estate [Melton]?

Hi all,

We are currently interested in buying land and building in Atherstone for the purpose of living in it.

I had a few questions that I hope you don't mind answering:

1) Do you have any thoughts on this area?

2) Have you lived there or living there?

3) Is the suburb different north of the freeway compared to the south of the freeway?

Any other insights is much appreciated!

 

I've driven through Atherstone and it's looked nice for the area. Prices now will have the train station factored in. I wouldn't expect much, if any, CG in the near future. The area north of the freeway is probably a bit safer than the south part, given the south's proximity to Melton train station and the shopping center (I forget the name of it now, no not Woodgrove). If I was to invest in Melton, I'd buy close to Melton train station, than Atherstone. If to live in, then Atherstone (which I've read is your objective). Do you have kids? Not sure about schools in the area. A mate of mine lives near Melton, his kids go to BM Grammar.

 

Thanks for the reply. I will go for a drive this weekend to cvheck it out. BM Grammar!! Thats another suburb itself for the school!

 

Yeah well, it's the only good school for the area, according to him. No, you don't have to be zoned.

 

Atherstone appears to be pretty decent area to live in.

 

I built there in 2017. 476m2 for 160k and total build cost 390k for a 4/2/2 30sq house.

If you're on Facebook take a look at Atherstone Neighbourhood watch group. That way you can get an idea of what people in the area think about it!

Personally I had my home broken into in the early stages and now just recently it happened again, this time with tenants (paying $390 a week) in the property.

Overall and long term I think it's the best pocket of Melton/cobblebank but it's whether you'd want to deal with that as the suburb settles in.

 

Unfortunate it happened to you. This sorta crime occurs in newly built areas (like you said), new and shiny stuff attracts those lowlifes. It's happened with me more than once across multiple properties. On the flip side, you've got a nice +vely geared property in a nicer part of the suburb that's only going to grow as time goes on.

 

Definitely! And for anyone else looking to build in the Melton area I'd still definitely suggest the Atherstone estate, or if your budget allows you closer to Woodlea.

 

Of all the estates that were popping up in that area Atherstone has always been my pick. I was lucky enough I found a nice place on a big block in Melton South but Atherstone was always my back up just in case. Anyone who has purchased there will do well long term.

 

Agreed! Woodlea was a burglary hotspot when it was still very new. I have mates living in the estate and they reckon things are much better now. On a slight tangent, the time to invest in Woodlea was 2015 or so. The boat's well and truly sailed (as in the returns are shot now).

 

I remember umming and ahhing between the two. Few weeks ago I found an old Woodlea price list and I could have cried

 

Yeah man! A mate of mine bought a 600sqm+ corner block in I think it was Stage 5 with the covenant he could split the block and build two houses. He bought the block for $210k from memory. He sat on the block for a year and a bit, divided the block and built two almost identical homes. Flogged both of them in Nov 2017, made an absolute motza! I clearly recall him telling me about it too, I was like nah mate $210k is expensive for the middle of nowhere.

Hindsight and all I know!