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Western suburbs Melbourne

Discussion in 'Where to Buy' started by MJS1034, 11th Jan, 2016.

  1. MJS1034

    MJS1034 Well-Known Member

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    Sunshine Coast
    Hello fellow investors,

    What are everyone's thoughts on the western suburbs of Melbourne ? Around 15-25km from CBD.

    I'm looking at buying IP2 in the next 6 months and with a current budget of around 420k I'm priced out of the eastern suburbs. Unless I look at units or townhouses which I'm not overly keen on.

    Couple of suburbs thst have caught my eye Are Sydenham, Taylor's hill, St. Albans.

    I'm purely chasing CG not to worried about the rental yield.

    Thank you all in advance.

    Mitch
     
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  2. Greyghost

    Greyghost Well-Known Member

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    There are a few threads on these suburbs mate have a search.
     
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  3. jpcashflow

    jpcashflow Well-Known Member Business Member

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    Location:
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    If you are looking at the Western Suburbs in Melbourne, I would stay away from Taylors Hills, only a few KM up a new suburb has opened up called Plumpton and there are a couple of other new suburbs opening up.

    Taylors Hill is a great area to live in but not to invest it.
     
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  4. melbournian

    melbournian Well-Known Member

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    for 420K only H&L package 29Kms out.
     
  5. tone1

    tone1 Active Member

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    I'd go St Albans with your budget. You could get a cheapie in Albion.
     
  6. MJS1034

    MJS1034 Well-Known Member

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    What you think of CG potential in St. Albans?
     
  7. MJS1034

    MJS1034 Well-Known Member

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    I've seen plenty of sold established houses selling for 400-420k approx 25km to CBD. Obviously they need some work but you've gotta accept that in thst price range
     
  8. KoopaTroopa

    KoopaTroopa Active Member

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    Hi, not sure if you were trying to say these two suburbs were the same? I personally wouldn't compare the two at all. Albion is a better choice for investment than St. Albans in my view.
     
  9. Redwood

    Redwood Well-Known Member

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    Hi Mitch - Would not go near Sydneham or Taylors Hill - ok for PPOR however no for investment in my view.

    St Albans can be hit and miss however proximity to the city is its number one attraction. Once you take the stigma out of it, suburbs like Braybrook and Sunshine become attractive.

    Braybrook - 12 kms from the city - has its own thread where I have expressed my views however, you can get a 3br 2bath 2 garage for $450-$500k, and the area is up-and-coming. In my experience properties rent easy and families are safe. Of course you choose the right pockets - which we have.

    Footscray is very expensive now - so difficult to find the right place, the large developers have come in and transforming the skyline over the coming years. Awesome place and happy to say I have been investing there for sometime.

    Re "I'm purely chasing CG not to worried about the rental yield."

    I'd revisit this approach - you may as well buy a house with land attached and let it sit there, however no $$$ coming in to support the loan. In Braybrook for example we have successfully obtained positive CF properties for TH with the depreciation benefits. If you can develop then fine chase the house with land, however you need the CF coming in.
    Hope that helps
    Cheers Ivan
     
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  10. MJS1034

    MJS1034 Well-Known Member

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    Location:
    Sunshine Coast
    Hi @Redwood

    Why do you think Sydenham or Taylor's hill wouldn't make for good investment? Too much available land? Proximity to CBD?

    My comment about yield vs capital growth was more referring to why I'm looking in Melbourne over somewhere like QLD where the yields are better. Obviously I still want to buy in an area that has low vacancy rates and ideally be rented out for 52 weeks a year.

    If you had a budget of 450k where would you buy in Australia?