VIC Top melbourne suburbs for growth 2015

Train station is a while off.

 

Yes true and our place is while off too. The work has begun for station.

I am interested to know how much difference does it make in prices with train station, schools etc getting built?

 

My take is they are definitely a plus but not what makes the price growth.

 

The train station from Epping to Sth Morang took 26yrs from initial discussions to finish, so I think it'll be a long time coming. However the prime positions in the area will be just south (Berry Lane) of the proposed shopping centre and just North near Schotters Rd. Cockrell Rd is going to be extended sth to join Bridge Inn Rd and the developer who has the land there is planning to put a series of fairly large/decent townhouses and they could be a good buy depending the outcome of the train station.

(As a side note I still remember one Sunday afternoon sitting on the couch with my dad while he was reading the Sunday Observer (newspaper) and there was an advertisement for a block of land selling for $29,000.
Dad investigated further and was prepared to buy, but Mum thought dad was crazy and that was the end of that idea. The block of land was on the South East corner at the intersection of Plenty Rd and Bridge INN Rd. For those of you that know, that is now the proposed Shopping Centre/Town Centre that I believe recently sold for $22million! - Dad doesn't like this story)

 

As far as I know the work for station has already started. It's not in discussion phase. Also from what I have read and understood it's slated to finish in 2019/2020. The push from community is to extend and complete it sooner. That's why I am pretty optimistic about station and some decent if not skyrocketing growth. See this link below.

No Cookies | Herald Sun

 

Re Mernda and Doreen - they have not seen real growth in the last five years, the big builders have come in and its H+L territory, with most being sold overpriced with heavy margins. This is great for the home buyer who may be looking for a good place to live however for an investment I believe it is a poor option.

The train station is one issue however infrastructure overall has been slow to respond to the growth in the area. They are the classic H&L areas of Melbourne and Epping is another.

Southeast the H&L now goes from Clyde --- Officer and bloody hell even to Drouin. I cannot believe people are buying in Drouin.

Its no secret I like Noble Park, and will be interesting with the planned rail upgrade. Dandenong has stagnated to a extent - there is a huge apartment complex that is struggling to sell and Mirvac struggled on a recent complex.

The Western corridor is starting to move West - Footscray is now HOT with a huge number of approvals and worth to consider Braybrook to Sunshine.

Preston / Reservoir are revitalising and Coburg is a place where the horse has bolted.

Cheers Ivan

 

No it hasn't. The only blades of grass being disturbed in that paddock are from the cows and dirt bikes.

 

The company I work for reports on upcoming commercial projects in Sept 2015 they were commence construction in 2016 and hope to finish it by Nov 2020 (2021 basically).

Last update there was a GEOTECHNICAL INVESTIGATION IN PROGRESS (sorry for caps it is a copy paste).

 

About the prices skyrocketing I wouldn't get my hopes to high. There is a lot of land that hasn't been developed yet, yes it might increase them slightly but there are plenty of houses between Mernda and Melbourne CBD.

 

Yes you are right. Geotechnical work and soil testing has started. Also agreed as I am not looking for sudden price rise. It's mainly for living in rather than investment. But with train station, schools, police station coming up amenities will surely increase.

 

This has seen some good capital growth for a McMansion on a horse paddock in rural Berwick.

23 Hilden Drive Harkaway Vic 3806 - House for Sale #121510326 - realestate.com.au

Since farmers are always "struggling", "have it tougher than anyone" and "deserve our utmost sympathy". My strategy would be to buy this property now while it's at the bottom, and when farming conditions improve, sell it for 50 million. Which is more or less what farmers deserve for all their hard work and sacrifice.

 

Thanks for quoting and attaching the Plan Melbourne.

It would be interesting to know how much of the last strategic plan was implemented and if there is any major plans in the last one which was not implemented or delayed.

 

Andrew's government has a committee working on a white paper for what infrastructure is required moving forward which will basically be a re-work of the Plan Melbourne brief.

 

Just posted this under another thread but I was so amazed at the price for a house in Sunshine I had to post again ! Love to know if people think it is crazy or reasonable?

No Cookies | Herald Sun

 

It is...don`t understand these bidders...probably full of money and don`t care much...

 

After seeing two sales in Elwood on Saturday I don't find anything impossible to believe anymore. The prices achieved by these two houses, which were pretty run down, were just ridiculous. $1.7M for a rundown house on a 360 sqm size block though decently located, then $1.97M for a rundown house on a approx 430 sqm block not ideally located and with a canal running behind me.

The first was no doubt bought by a developer who just didnt care what he paid. The second though was unfathomable.

Looks like I have to forget about buying another IP in Elwood.

 

Crazy. While the house is immaculate and large for the area (5 bedrooms is rare), it's on a main and rather unpicturesque road in Sunshine. Not exactly a desirable pocket at all. Can't understand how anyone would see value in that house, in the location it is in and at that price point.

 

Agree that is a crazy price to pay for 600ish sqm wise. For that price better off buying in Doncaster east where later on subdivisions can yield 700k townhouses where there is a history of prices sold for those prices.

 

Wow, amazing, 29000 to 22 Million, what year was it then selling for 29K.

Also, Cockrell rd joining bridge inn rd, whats the probabality. Why is this happening?
You mentioned about the developer building townhouses, what address would this be, Thankyou

 

1979 in the Sunday Observer!