VIC West Coburg & Pascoe Vale South in Melbourne

I’m not a Melbourne local but am recently looking to purchase a house in West Coburg & Pascoe Vale South (south of Bell Street). What do you locals think about the area, in terms of lifestyle, property potential, crime, etc.? Would appreciate hearing your thoughts.

 

It’s a fantastic area. Pascoe Vale South has good access to Strathmore train station (much better services than Coburg station). Also, route 58 is next in line for the new e-class trams. Should be sometime soon I would imagine, it was announced last year. This provides excellent hospital/uni access.

Pascoe Vale South was incredibly affordable only a few years back but I think it’s had some really good price growth since 2019 (as in, higher than average, though you’d need to confirm that for yourself).

Worth also noting there’s an amazing ice cream joint on Melville Road now (Minot Gelato). A sure sign to a burgeoning yuppy suburb

 

Would this be for investment purpose? My PM who manages my properties in Melbourne is local and lives in Pascoevale and knows the area as a back of his hand.

 

Prices have moved 20 to 30% in the last 12 months. Unrenovated homes on 500sqm block are particularly popular and have been in large supply due to the older residents moving out as the suburb's gentrify. These homes are now selling for 1.3 plus.

Coburg has more home style variety due to different periods of growth throughout its history. Whereas Pascoe Vale South is a late art deco suburb with a heritage overlay. This has kept the suburb's original architecture largely intact which I think adds to street appeal.

I think both suburbs are going to do well going forward as the millenials who rent in Brunswick and surrounds start having children, need a bigger place but want to keep their roots in the region. I own around here and all the tenants are using places like mine to get a feel for the suburb and about to start a family.

 

I've recently noticed some really good sale results with the links below. The area is holding up.

21 Rose Street, Coburg, Vic 3058
$2,282,000 Sold on 17 Apr 2021
https://www.realestate.com.au/sold/property-house-vic-coburg-135791426


84 Phillips Street, Coburg, Vic 3058
$2,020,000Sold on 27 Nov 2021
https://www.realestate.com.au/sold/property-house-vic-coburg-137744454


11 Haig Avenue, Coburg, Vic 3058
$2,130,000 Sold on 11 Mar 2022
https://www.realestate.com.au/sold/property-house-vic-coburg-138579523


39 Grandview Avenue, Pascoe Vale South, Vic 3044
$2,300,000 Sold on 29 Mar 2022
https://www.realestate.com.au/sold/property-house-vic-pascoe+vale+south-138705791


6 Le Cateau Street, Pascoe Vale South, Vic 3044
$2,300,000 Sold on 26 Oct 2022
https://www.realestate.com.au/sold/property-house-vic-pascoe+vale+south-139931775


43 Henley Street, Pascoe Vale South, Vic 3044
$2,040,000 Sold on 26 Nov 2022
https://www.realestate.com.au/sold/property-house-vic-pascoe+vale+south-140777063

 

Just bought a 3 bed, somewhat renovated, house in this area recently. Plenty of work to do that will add value. Moving in in a few weeks. Hopeful it will do well over the long term.

 

Very popular suburbs and always in high demand with owner-occupiers and investors. Lots of diversity in housing stock and density. Watch out for newer apartments with flammable cladding and / or major defects (such as water leak issues). There are excellent opportunities to find solid-brick villa units and free-standing homes in the area; a lot of deceased estates / Power of Attorney sales currently in the pipeline.

 

Wow, it sounds like an awesome place to live! If you're a coffee lover, you should definitely check out Good Times Coffee. it's really great!

 

It's great to hear that you're seeing an increase in interest from tenants who are exploring the neighborhood and planning to start families.

 

Yes, I agree that the suburbs are always in high demand with homeowners and investors.

 

Yeah, I totally agree! I've noticed a bunch of young folks moving into the area lately. They're all about sharing houses, which makes sense as rent prices are high these days. But you know, you can spot them pretty easily - just look for the messy porches, overgrown lawns, and beer bottles scattered around.

 

I believe this area is undervalued despite its fantastic location. Housing prices are still relatively affordable when compared to nearby suburbs like Northcote and Brunswick. It's a hidden gem that deserves more recognition.

 

The area has easy access to Moonee Ponds shopping district, which is one of the best in Melbourne, and has a charming village feel. It also boasts great transport links and is near east and west creek trails for outdoor activities.

 

There are also some fantastic options like Good Times Coffee, which is the best café in the area, and Miinot Gelato, which is just fantastic. Shop 225 is also one of the best Italian restaurants around.

 

And the new soon to open Two Franks Cafe. Two local sisters bought the ex-butchers (run by two Frank's previously, hence the name) and are in the process of converting it into a cafe selling local goods. Another excellent addition to the growing area

 

Thanks for sharing this! It's awesome to have a new café in the neighborhood. There used to be a yarn store right next to the butcher shop.

I heard that the sisters who run the cafe grew up on Reynard Street. One of the sister’s partner is a product engineer who also happens to be an artist. He creates architectural drawings for the local community - how cool is that?

 

For those of you in the area, the property at 211 Reynard St in Pascoe Vale South is going up for auction tomorrow. It is currently owned by Transport Victoria and was supposed to be turned into a tram hub, but the local council said no.

But there's still hope that the new owner will bring some life to the place. The front shop is in a great spot and could be turned into a really cool hangout spot or cafe for the locals. There is also a 2-bedroom house at the back connected to the shop. It would be amazing to see something new and exciting pop up in the neighborhood.

And there are so many possibilities for the back of the property. Maybe the new owner could expand the shop area, or knock it down and build a new home. It has great potential, who knows what they'll come up with!