Werribee St Albans Albanvale among fastest growing Melbourne suburbs

Discussion in 'Property Information Resources & Tools' started by sash, 30th Oct, 2016.

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  1. sash

    sash Well-Known Member

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    Tell ya what...I will sell you mine which just under 600sqm...5 minutes walk to station for a bargain of 480k....wanna buy?
     
  2. Realist35

    Realist35 Well-Known Member

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    Haha where is the link:)?
     
  3. sash

    sash Well-Known Member

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    It requires a $1500 non refundable fee to buy. ;)
     
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  4. Otie

    Otie Well-Known Member

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    I bought there for 392k. I honestly think i could get 550 easily. I did spend 30k on a full reno though. Looks brand new inside now
     
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  5. OTmg

    OTmg Well-Known Member

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    What about the huge amounts of land between Ballarat / Geelong and Werribee?

    Would this be a deterrent as why would I buy for 400k in Werribee if I could get something closer to Geelong for less?

    I am just concerned that all that land may be developed in the future which may slow down growth in Werribee. As people will just buy further out in cheaper areas.

    My 2c
     
  6. OTmg

    OTmg Well-Known Member

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    Hey guys,

    So I called the city of whyndham and they have no idea what will happen with the land between Werribee and Geelong. There is a team with representatives from both Whyndham and Geelong working on that project that will take many decades, so I am told.

    Currently that huge amount of land if owned by private and government bodies. It is currently rural.

    A few people have mentioned that the North is worse to buy as the land just continues on into NSW. However, in the west, it is capped at Geelong, so there is less land for developments. When we check google maps, there is about 27-28 km in between of available land.

    Not sure how this will affect Werribee in the future compared to Melbourne. I think that Melbourne's prices will sky-rocket in 20+years.
     
  7. Spiderman

    Spiderman Well-Known Member

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    The other area in the west where there's massive amounts of spare land is between Melton and Caroline Springs with a large centre planned at Toolern. But it's been the 'ugly duckling' with the outer south east and (to a lesser extent) Wyndham getting more government services than Melton area or the outer north.

    Building more than houses in these areas is easier said than done. TAFEs have declined and the old jobs they taught people for have gone. Universities hate their regional and outer suburban campuses as they don't attract international students who want inner-city. Employment in the west is weak despite population growth due to deindustrialisation. The modern economy offers nothing more than poorly paid insecure work for young people without qualifications (who are most concentrated in rural areas and outer suburbs).

    Existing shopping centres want to strengthen their own monopolies (eg Melton has just one for a massive population and the biggest were all started in the 1960s - 1980s period in what are now middle suburbs) so we've seen slow progress on promised town centres (eg Williams Landing has been very slow and the closure of Masters is a blow but maybe also an opportunity for something more appropriate to be built near a station).

    Areas like this seem to be emerging with the undesirable combination of higher residential density (ie 300m2 blocks instead of 600m2 blocks), no services, no jobs and no transport. However addressing this we will see a wave of colonisation from Indian and Chinese migrants who will bring money, people and skills to such otherwise depressed outer areas. An example is the proposed (and plausible) 'Indian Village' at Tarneit and Bill Zheng's less plausible 'Education City' at Werribee East backed by former premier John Brumby.

    Such investments will be welcomed with open arms by governments unable to provide services themselves as they are politically reluctant to raise revenue through, for example, inheritance duties or Henry George style land value taxes. Some people though will be more wary and seek to launch counter-reactions. We saw this in the 1980s debate about the 'Multi-function polis'. More recently areas like Casey and Melton have become a hotbed of Christian conservative or Hanson-style politics (as scared poor white people are outbirthed and eventually outnumbered by young booming migrant communities).

    There will be an outer suburbia connected more with India and China than regional parts of Victoria or state governments. The cosmopolitan inner suburbs vs the 'white bread' outer extant up to the 1990s is no longer accurate. Those who are not Chinese and Indian will complain that 'we was robbed' and can't afford their first home (or more accurately one in areas with 'people like them'). Property investors will need to understand the global nature of flows of people, money and expertise to understand the property market in outer suburbs - it's not just first homebuyers moving a few suburbs out from their family home anymore.
     
    Last edited: 14th Jan, 2017
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