VIC Why is nobody talking about Melbourne?

Next meetup is at the end of month. It is already over booked ATM. Mind you we hardly discuss areas or streatgy.

Yes, we only target potentia development site with intention of developing in a near future or land banking good location to reap rewards later when investor is ready.

There are plenty development opportunities with decent margin in Melb market.

Developing in Melbourne provides three attractive exit strategies;

Sell the entire development and cash out
Sell half and keep half (remaining half will be most likely Cash flow positive, helping to beat APRA crap at degree)
Keep the entire building and generate an income (all that LOR,LOe jargon)


Having said that, there are good opportunities in central coast, Wollongong in NSW too...but I personally like major meto city tag!

 

I just sold 2 townhouses OTP to investors, 17 km from Melb CBD, walking distance to rail.

These will provide cash flow positive income with depreciation schedules.


MTR

 

Agree. I'm currently looking to buy a few in Melbourne. No current holdings in VIC.

 

I think everything there is to be said about Melton has been said. many other great areas that are affordable with better access to employment, transport and other desirable attributes.

 

Melbourne is the third best value market imo. Brisbane first then Sydney then Melbourne.
Not a significant difference in any of the top 3, I'd say minimal-moderate separating one from the other.

Big gap...then perth and Adelaide.
Another huge gap...then Darwin and Hobart.

I am measuring cost to fundamentals as the measure of 'value' and this is my opinion only.

 

I am seeing increased buyer interest for melbourne from Sydney and Perth investors. Sydney investors bc Sydney is too hot and more expensive. Perth buyers because they want to invest into a state that is not linked to the mining industry.

 

Packenham - well located?

 

James

Thanks for the effort , but

Considering one of those sold back in 2013 , that doesn't exactly make it good buying at the moment .

Cliff

 

Shhhhh! Melbourne has sailed.. look elsewhere people..

 

Vic has some of the best stamp duty laws in the country too.

 

Move over investors the FHB are jumping in and now taking over.

For anyone looking at buying I still see very good value in the North, West middle ring 18 km to CBD

Reservoir has gone gang busters, zone 1 rail, I think missed the boat with this one, whereas areas next door significantly cheaper are such as Thomastown and Lalor

I don't believe its too late for these areas because FHB are driving this market and will push prices up.

MTR

 

Too late for east and south east?

 

Its moved significantly. I thought I purchased too late, but then if you buy under market value then its not too late, if that makes any sense. In other words find out the agents that are under selling.

MTR

 

Parts of Melbourne have been moving for the last 2 years - to different levels in different pockets. Areas like Pakenham in outer South East have slowed or gone back, but rental demand is still very strong and most are neutral or slightly negative.

Mid south east is strong and growing at a very steady pace. I don't watch the west, so can't comment on that. The north and bay side are moving steadily as well.

 

We bought our PPoR about 2 years ago in Chadstone. The agent undersold it because he was from a different suburb and had taken this listing on as a favor. He even gave up some commission to get it across the line.

3 months after we bought, smaller blocks were selling for $100k more.

 

Melbourne really is a very strange market.

 

Anyone heard of Frankston? I heard it is Melbourne's best kept secret..

 

Apparently been moving for a while now? My architect said that he has clients buying and building in this area and still good value, no idea? There is a thread on this perhaps worth looking at it for those keen in lower end.

MTR

 

Gateway to the Mornington Peninsula. Now it's making money, no-one says anything.
I wonder if everyone invested in Melbourne is in shock - after waiting so long!
Still good value.