What is up with Springvale (Vic)?

Discussion in 'Where to Buy' started by willister, 7th Mar, 2017.

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  1. willister

    willister Well-Known Member

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    Seriously pushing $800K, which to me is mind blowing. Just started looking at this area but I can't seem to see any value? It has a somewhat vibrant but dirty town centre, mainly Vietnamese but what surprised me mostly is the apartment boom, it's 23kms or so out from the CBD?

    The worst thing though is that it is 23kms ish out from the CBD. What's so great about this area? I just don't get it...It has an underground station, school (not exactly popular, but) and somewhat close to Monash Uni. Am I missing something?
     
    willister, 7th Mar, 2017
    #1
  2. Iamnumber5

    Iamnumber5 Well-Known Member

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    Business is apparently better than the appearance.
     
    Iamnumber5, 7th Mar, 2017
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  3. The Y-man

    The Y-man Moderator Staff Member

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    Several drivers IMHO:

    1. the very vibrant centre - and medical, accounting, legal and other practices that speak the lingo of the "locals" (vietnamese, thai mandarin, canto), not to mention food, restaurants, etc.
    2. Good block size (read developable)
    3. Location (in SV south) of the biggest buddhist temples in Melb
    4. same PTV commute time as GW (express Caulfield to SY)
    5. people priced out of clayton moving 2 stations out

    The Y-man
     
    The Y-man, 7th Mar, 2017
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  4. willister

    willister Well-Known Member

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    I really can't see any value added benefit from 1 and 3 to be honest. They are decent-ish blocks but damn, you are 23km from the CBD?
     
    willister, 7th Mar, 2017
    #4
  5. ashish1137

    ashish1137 Well-Known Member

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    Those are good drivers for any community or suburb.
     
    ashish1137, 7th Mar, 2017
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  6. melbournian

    melbournian Well-Known Member

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    Viets like to group together no diff to Chinese and Indians. They are big savers and also willing to spend big on being in an area they are familiar with.
     
    melbournian, 7th Mar, 2017
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  7. Little Cousin Kate

    Little Cousin Kate Active Member

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    23kms from CBD in South East equates to 10 - 12kms in North and West IMHO in terms of popularity, demand, infrastructure etc....Springvale is a big hub albeit with different demographics to say a Ringwood but should follow in its footsteps and looks like it is.
     
    Little Cousin Kate, 8th Mar, 2017
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  8. MikeyBallarat

    MikeyBallarat Well-Known Member

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    Haha yup that's right...our cars and trains are slower here in the west :p
     
    MikeyBallarat, 8th Mar, 2017
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  9. MJS1034

    MJS1034 Well-Known Member

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    Disgusting area IMO. I'm guessing ripple affect from surrounding suburbs would have a pretty big affect on price and international investors.
     
    MJS1034, 8th Mar, 2017
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  10. larrylarry

    larrylarry Well-Known Member

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    Springvale has potential. New train station isn't it? Yield is not that great when I last looked at it. If you're not living there...
     
    larrylarry, 8th Mar, 2017
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  11. The Y-man

    The Y-man Moderator Staff Member

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    No, that's because the cars get stolen and trains get vandalised in the west :eek:......only joking :D.

    Actually (@Spiderman can probably refute this) I feel there is not a day goes by without some sort of signalling issue a caulfield station (which affects frankston, paky and cranbourne lines), and the trains on the Glen Waverley line always feel slow .....

    The Y-man
     
    The Y-man, 8th Mar, 2017
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  12. The Y-man

    The Y-man Moderator Staff Member

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    I think horse has bolted - Keysborough, Noble Park have already jumped.

    My guess would be the next band out - Dandenong - but I could be just ramping it as I have some commercial property interest out there.

    The Y-man
     
    The Y-man, 8th Mar, 2017
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  13. The Y-man

    The Y-man Moderator Staff Member

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    Gone below street level as part of the x-ing removal project.
    Awesome difference to traffic - used to be a 2 km stretch that would take 40 minutes at peak - now just drive through.

    The Y-man
     
    The Y-man, 8th Mar, 2017
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  14. larrylarry

    larrylarry Well-Known Member

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    GW trains do feel slow it's like they are trying to keep to a certain speed to allow pax enjoy the scenery.
     
    larrylarry, 8th Mar, 2017
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  15. Lemmy a fiver

    Lemmy a fiver Well-Known Member

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    Yep, it's modern day Metropolitan Transports version of 'Puffing Billy'.
    Except the kids can't hang their legs out the windows.
     
    Lemmy a fiver, 8th Mar, 2017
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  16. MikeyBallarat

    MikeyBallarat Well-Known Member

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    On the eastern suburbs train lines (I forget which exactly) it always feels so slow! Like there's a train stop every ten bloody metres! Are the rich people all too lazy to walk anywhere, they have to all have stops right outside their front door :p

    And no comment on the vandalised Sunbury line trains...Geelong V Line are always clean and comfy though! Best train trip in greater Melbourne IMO.
     
    MikeyBallarat, 9th Mar, 2017
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  17. klabat

    klabat Well-Known Member

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    Springvale characteristics are like other asian community/suburbs in Melbourne - Box Hill, Doncaster, Footscray and now merging St. Albans (going nuts btw) and Sunshine.
     
    klabat, 9th Mar, 2017
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  18. The Y-man

    The Y-man Moderator Staff Member

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    You left out "Little Saigon" complete with mini-Ben Thanh clock tower in Richmond :)

    The Y-man
     
    The Y-man, 9th Mar, 2017
    #18
  19. klabat

    klabat Well-Known Member

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    Dont forget the drug distribution vans parked out the main strip haha
     
    klabat, 9th Mar, 2017
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  20. Ko Ko Naing

    Ko Ko Naing Well-Known Member

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    Real life experience here, lived in Springvale South for almost 3 years. Rode daily to the Springvale station. Nothing was wrong, but one day I tied my bike to a rack at the Springvale station, went to work and it's gone in the evening. Reported at the police station and police found it 2 blocks away from the train station.

    But ripple effect has lifted it up a lot. I wouldn't live there as my PPOR. For IPs, that'll do well long term. Now that I'm priced out of Springvale and surrounds, I'm investing in an equivalent low SES areas in Brisbane.
     
    Ko Ko Naing, 9th Mar, 2017
    #20
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