Werribee St Albans Albanvale among fastest growing Melbourne suburbs

The stats have to be taken with a grain of salt...but interest how Werribee ..St Albans and Albavale have grown over 20% in the last year.

I can't comment about the later...but having been on the ground in Werribee...I am not surprised....

Melbourne suburbs where house prices have risen the fastest

As I have said before this growth is only sustainable whilst affordability is good..me thinks that once it get close to 500k it will flatline or come off.

 

What about the new estates popping up near the stations on the RRL link? I've been looking at them thinking there is some opportunity there.

 

Anything near rail stations is gold...over the longer term as congestion gets worse these will become premium.

@tobe @Greyghost .... this is what I was saying about the cycle in Melbourne moving to the Outer West...

 

I have had a look At the PEET one next to the proposed station. I reckon the proximity to rail will hold it in good stead.

 

Thats my aunty's house pictured in the link (Werribee). Think they paid $900k 3 years ago for it, didn't do all that much to it. Great outcome.

Same thing happens in NW Sydney just a higher price bracket.. Once you edge over $750k to $800k the next estate pops up and everyone flocks there for lower entry of around $650k+

 

1800 homes with a new town centre coming soon.

Family farm in Australia's fastest-growing suburb hits $95m jackpot

 

You are kidding right....1.25m in Werribee....sheez...

 

Werribee prices have definitely jumped over the last 12 months. Looking at comparable sales my dev site has easily gotten a 25% increase in value since its purchase in Sept 2015.

I still think this market has plenty of steam left in it... Plus anything with a hint of development potential is getting snapped up real quick at the moment.

 

Totally agree, Markets hot.

 

I'm looking forward to the new station... if only there's information on when this is going to be built!

 

Bought in st albans $435K 2.5 years ago - just sold at $875K to fund another project - Although I am happy starting to wonder what it will be worth in another 5 years. - It is crazy out there.

 

Hi EN710.. Can you kindly clarify which new station this is? I thought the RRL was already built and there is already an existing Wyndham Vale Station?

If ever, might need to get coaching from @sash regarding buying new H&L packages from Fraser. Is it too speculative at this stage?

 

There's supposedly a 'planned' tarneit west station, located just before the new Tarneit Station. I'm not sure whether this is going to be built though

 

Not speculative at all...early stages...but you need to secure a block and build by no later than late next year.....

 

That is a massive jump in short amount of time, and the sold price is above the average for the suburb. Is it well located property near the town center?

 

Anything around Scumshine has gone nuts...

 

Sunshine

It is indeed a hot market, as "Sunshine is Rising". ⛅️☀️☀️☀️☀️☀️
The link above also sold for a record price, hence the reason I asked if @sofman case is the same, which is strategically located property.

 

My uncle stocked up on IPs in Sunshine and surrounds in the 80s-early 90s. They were only about 30k each back then. He was recently offered $1.3 million for one on a well-located large block and turned it down.

 

He is a VERY smart man.....

 

Definitely. He worked as a factory machine operator for 2-3 decades and squirreled away most of his savings into IPs. He has three adult children and will be able to give them one each and have several left over. The only shame is he hasn't really treated himself now that he's comfortable.