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Thoughts on Rockbank h & l

Discussion in 'Where to Buy' started by eyespy1, 22nd Jul, 2016.

  1. eyespy1

    eyespy1 Member

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    What are your thoughts of doing a h and l pacKage in Rockbank at this stage in the Melbourne cycle ? Yes, I know Melbourne has been booming for quite a few years now but not sure if these outer areas have moved much.

    I note that Rockbank is about 30km west of Melbourne and serviced by regional train....so 30mins into city. Also note that there is heaps of land around and they will keep releasing it.
     
  2. Cactus

    Cactus Well-Known Member

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    Depends how cheap you can get your finished product.

    Rockbanks pricing is moving quite a lot at the moment.

    My concern would be that once Plumpton and Koroit PSP is approved that land would be more desireable. However pricing will take this into account.

    Have you considered Werribee and or Armstrongs Ck?
     
  3. Ash

    Ash Well-Known Member

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  4. Ash

    Ash Well-Known Member

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  5. novice

    novice Well-Known Member

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    glad i have found this thread.
    anyone of you bought in bridgefield? what are your thoughts on future rental and capital gain there? @Ash
     
  6. melbournian

    melbournian Well-Known Member

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    I have been thinking of one in rockbank really distance wise is about the same as pt cook and is cheap. H&L could be good with some builders. Best price wise would always be the ethnic builders like the serbians, croations, turks, Lebanese. I always thought pt cook would just grow slowly but looking at the 95 million dollar sale in wyndham vale to developers. that's just crazy. it doesn't have the shops or the likes of footscray or other suburbs but it is a much cleaner place to own a home as the streets, landscape and surroundings are new.
     
  7. novice

    novice Well-Known Member

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    is bridgefields any good? there are like 20 something housing estate being built in melbourne NSEW. would it put a cap on the CG you reckon?
     
  8. Greyghost

    Greyghost Well-Known Member

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    I ask why?
     
  9. novice

    novice Well-Known Member

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    lol... why bridgefields you mean? or why so many housing or why I asked that question?:)
     
  10. Greyghost

    Greyghost Well-Known Member

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    Why Rockbank and any of those H&L areas?
    Sure on occasion an investor may come out on top but for the majority.
    Fundamentals are not there.
     
  11. tobe

    tobe Well-Known Member

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    Just got a short val on a H&I in rock bank. There just aren't enough comparable sales there, valuer was using stuff from melton as comparable.
     
  12. novice

    novice Well-Known Member

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    well I always wanted to buy in housing estate with amenities and family oriented community. In Sydney I missed out and cant and dont want to buy 60 km from city. Melbourne's new estates is within our range and we dont need to compromise any life choices for mortgage while renting in Sydney. sure its an investment buy now but have a plan to move to melbourne in 5 years time. Rockbank was highlighted coz of woodlea but I liked the plan and price of bridgefield .
     
  13. novice

    novice Well-Known Member

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    so you reckon valuation will come lower next year when I settle..I am hoping by next year there will be more sales to compare with. Melton is bit cheaper right? woodlea estate has completed some houses wondering what price they were sold? my land is 147k house 3,2,1 may be 150-165? I will go cheap. so somewhere around 310-320k mark. is this too much ?
     
  14. Greyghost

    Greyghost Well-Known Member

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    I know the suburb, what is either side of it as well.
    Apologies for sounding frank, but your idea is not an investment based idea, it is a lifestyle one.
    As for "family community", they only exist on the tv adds and billboards for the estates.

    If you want to live in such a place why not rent there when you wish and invest where your money is better suited?
     
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  15. Cactus

    Cactus Well-Known Member

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    Sounds like a lazy valuer. There has been so much land selling in these areas I find it hard to believe they needed Melton for a comparable.
     
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  16. Cactus

    Cactus Well-Known Member

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    No that's bang on the money IMO.
     
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  17. Cactus

    Cactus Well-Known Member

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    Tell that to my portfolio & @sash @Sonamic @Ashish @melbournian andveven @MTR once upon a time. Many here making it work. It's not difficult just DIY don't pay for it done.
     
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  18. tobe

    tobe Well-Known Member

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    Perhaps. The valuer can only use settled sales in their comparables and most sales are still waiting on titles? For a h&l valuers can't use other h&l sales in the area. They have to rely on 're sales' of established properties. Hence melton.
     
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  19. tobe

    tobe Well-Known Member

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    I don't know anough about the area to comment on values. I do know how valuers work, and they need comparable sales. They can't use developer sales or recent builds until they are re sold. So for early stages in brand new suburbs, valuations can struggle.
     
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  20. Cactus

    Cactus Well-Known Member

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    I agree has to be settled stock but the rest seems strange to me. The most comparable stock is a brand new house same size on a new lot. Bit unfair to compare to a 10 year old home in 10km away.
     
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