VIC Why is nobody talking about Melbourne?

Discussion in 'Where to Buy' started by ej89, 12th Oct, 2015.

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  1. sash

    sash Well-Known Member

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    Lock building prices now......
     
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  2. melbournian

    melbournian Well-Known Member

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    I really can't do anything atm already bought settled from 6 months ago, both positively geared and rezoned. It has gone up and I probably will do nothing and sell after 12 months with no permits attached. In the meantime I will look around at newer suburbs to learn and see newer opportunities. I think boronia is a good one. gonna have to spend time learning the suburb again. North West now is too expensive.
     
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  3. melbournian

    melbournian Well-Known Member

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    @MTR since you are heavily involved in Atlanta - do you organize trips etc just to get a vibe ard the city - would be keen to fly and have a look
     
  4. MTR

    MTR Well-Known Member

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    I am flying over again in February 2017
    Google Beltline Atlanta, hottest market at the moment

    We have a number of people coming over to Atlanta, you should come along.

    We have people of the ground and other business partner travels regularly to US and will set up office in Atlanta.
    I am currently sorting out visa as I can see we will be making many more frequent trips to various parts of US.
    Probably living between Perth, Melb and US

    MTR:
     
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  5. JamesP

    JamesP Well-Known Member

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    Berwick is well exceeding expectation. Herron Todd Whites latest report states they presumed lower growth due to the infinite supply. Fact is Berwick and Beaconsfield themselves (the non new area's) are prime area's aesthetically and to raise a middle class family compared to 95% of Melbourne.

    There is Berwick, Beaconsfield, Narre Warren North, Beaconsfield Upper all surrounded by an infinite sea of Melton. Would be a good 5-10 year hold (if you believe there won't be a slump soon). As Clyde and Pakenham fill there is extremely limited supply when it comes to established homes in quality locations most blocks starting at 1000sqm. The fact people are paying half a million to live in the Melton sea including Cranbourne (with no local infrastructure albeit a coles shopping complex and an estate lake stocked with trout). Says to me once population further grows homes in Berwick and Beaconsfield (close to station, tafe/uni's, schools. main shopping strips) will be rather sought after. Given there are not many quality middle class leafy homes left on 1/4 acre blocks in Melbourne.
     
    Last edited: 24th Dec, 2016
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  6. craigc

    craigc Well-Known Member

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    'Old' Berwick north of the freeway & near High St. is at very different price points to new(er) H&L packages of recent years. Well & truly gentrified. Similar to Narre Warren North, surrounded by Green wedge & national parks. Larger blocks, elaborate homes, Location close to train, freeway & shops keep desirability, high price point of these areas limit entry. High O/O appeal. Sounds like HTW report was not on the ground or local & thought new estate areas. I believe will continue to steadily grow and will remain family aspirational areas along with Lysterfield & Lysterfield South. Just beware of power lines cutting parts of suburbs.
     
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  7. johnmteliza

    johnmteliza Well-Known Member

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    The Mornington Peninsula has been seen enormous growth from the few projects occurring in Frankston. It always was a great place to live/holiday, but now it is also a great place to invest too. The Mornington Peninsula has the 2nd strongest property market in all of Australia. It also hasn't budged while inner Melbourne is on the decline. Frankston's demographic is definitely changing for the better making the broader region much popular. Overseas immigration to the area has significantly changed Frankston. Nonetheless, the Mornington Peninsula is the real star of the show and is the true beneficiary of infrastructure investment in Frankston.
     
  8. johnmteliza

    johnmteliza Well-Known Member

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    The peninsula has always offered better affordability for what you get compared to Melbourne. In fact, there has never been a better time to be on the peninsula as market is performing exceptionally well with cashed up inner city buyers. Even with such growth the value is still there. Despite exclusive suburbs such as Portsea, Sorrento, Mt Eliza and Flinders increasing rapidly, there are still other suburbs which have been forgotten and are only beginning to be put in the spotlight now.
     
  9. Spiderman

    Spiderman Well-Known Member

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    The big problem with the Peninsula is access to higher education (very little nearby though you would expect some benefit from Chisholm TAFE upgrade at Frankston) and high paying jobs (locally it's largely the service economy ie retail and a bit of health and education). Public transport access is also atrocious (unlike other tree-change type areas which have rail).

    Is this a problem? Not for tradies or empty nest lifestylers who work from home or manage to get work locally. But if they are a little younger and have kids and spouses who need tertiary education, jobs and transport then the practicality aspects of these will trump the beachside lifestyle. This will make the peninsula of limited appeal, although it attracts throngs of visitors during holidays.

    The importance of practicality can be seen from the excellent capital growth of suburbs that were seen as unfashionable (and even dangerous) eg Sunshine, Clayton, Springvale and even Noble Park due to their accessibility to the things that people need every day.
     
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  10. johnmteliza

    johnmteliza Well-Known Member

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    Only a year ago the Mornington Peninsula did have the Melbourne University Business School in Mt Eliza. Despite this, the Monash University Peninsula Campus fortunately does exist nearby. The campus is also about to undergo large expansion with new courses available. Also there is a Chisholm Institute Mornington Peninsula Campus and an additional campus in nearby Frankston. Not only is the TAFE upgrade expected to drive growth and jobs, but also the new Frankston Hospital expansion is expected to commence next year which will provide 1000 jobs during construction and over 500 long-term local jobs for doctors, nurses, allied health professionals ect. who will likely live on the Peninsula. Construction is also one of key industries and has really benefited from the construction boom. Various 3-4 storey developments are being built across the peninsula with 3 underway currently in Mornington alone. As you said, retail is also a key industry and the new Home Consortium shopping centre is set to create new jobs with new supermarkets such as Coles Mornington East and Kaufland coming in 2019.

    Having said all this, the Mornington Peninsula has always been home to wealthy retirees so they aren't going to sell their properties based on a lack of jobs because they don't work. This further limits the impact of the Mornington Peninsula's job market on the property market. Furthermore, because the majority of buyers in the Mornington Peninsula are retirees and young families moving from the inner eastern suburbs, the availability of jobs and higher education institutions on your doorstep isn't of concern. The younger families move to places like Mt Eliza for the top primary and secondary schools. Besides, the majority of the buyers who can afford these areas likely commute to the other employment areas or city anyway. Fortunately, the new Mordialloc Freeway will be of benefit to these commuters and bring the Mornington Peninsula closer to Melbourne.

    You use Clayton as an example yet the 4 bedroom median house price has fallen from $1,250,000 to $1,180,000 in the past year. This is hardly growth. Not even Springvale has grown as the 4 bedroom median house price is the exact same as it was 12 months ago. In Sunshine, the median house price has only grown by $25,000 in the past 12 months. This is in contrast to many suburbs on the Mornington Peninsula growing by $200,000 and even in some cases like Portsea the median 4 bedroom house price has grown from $1,850,000 to $2,580,000 in the past 12 months. This is a $730,000 increase within 12 months! This is sizeable for even Melbourne's standards.
     
  11. WattleIdo

    WattleIdo midas touch

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    absobloodylutely!
    Median price continues to increase, stock on market low, despite 'doom and gloom'.
     
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  12. johnmteliza

    johnmteliza Well-Known Member

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    Fortunately the Frankston line is being extended into the Mornington Peninsula through the new electrification to Baxter Station. There are also plans for the electrification to Stony Point which the local council is pushing for. This is supposably going to be the stage 2 of the electrification to Baxter. Mornington and Mt Eliza also have existing tourist train lines currently running which may be converted in the future anyway. Not only this but the public transport on the Mornington Peninsula is set to be a key state election topic and will likely be improved in the next few years.
     
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  13. MikeyBallarat

    MikeyBallarat Well-Known Member

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    If Govco have their head screwed on they would have a two tiered service - a frequent all stopper to Franga and an express service to Baxter only stopping on the major interchanges closer to the city.

    Similar to the Beenleigh/Gold Coast Line in QLD.

    Edit: Was the former Mornington line that you mentioned in a few posts removed when John Cain gutted the train system, removing the Port Melbourne and St Kilda lines?
     
  14. Spiderman

    Spiderman Well-Known Member

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    Trains to both Mornington and Stony Point were stopped in 1981 - ie under Hamer. Stony Point service was resumed in 1984 under Cain. Mornington never was restored. The Mornington train service was only ever a few trains per day compared to the 3-4 buses/hour that currently run.

    While some people do live on the peninsula and commute to the CBD, the trip is too slow (even on the current express trains) for many to do it out of choice. CBD commuters wishing to live out of Melbourne are better off travelling from the likes of Lara/Geelong, Kyneton, Seymour or even Ballarat than most of the peninsula due to faster V/Line trains. In contrast Frankston express trains rarely exceed 35-40km/h end to end, you still need to change for the loop and there are often congestion or signalling issues.

    It's difficult to see how trains can be made much faster. There were plans to run the third track south to Mordialloc but it only got built to Moorabbin in the 1980s before they ran out of money. There's already a lot of trains on the track so overtaking movements are difficult.

    In an ideal world you'd have full time expresses with four tracks to (say) Seaford and super expresses. But not even the most ambitious rail plans around at the moment have this - there being much higher priorities - especially noting that Melton isn't electrified yet. other lines (eg Craigieburn) have more severe congestion problems than the Frankston line and CBD capacity is approaching breaking point.

    The state election is less than 3 months away and the federal people are desperate. It is the season for various wild promises. Don't believe all you hear, or if you do, note you'll be very old by the time most come to fruition.
     
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  15. johnmteliza

    johnmteliza Well-Known Member

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    There is a proposal for the 'Frankston Flyer' which would include construction of a third track between Frankston and Moorabbin to allow for express services along the line. More express services would make the commute faster. However, Frankston Line patronage is declining indicating that people especially on the Mornington Peninsula likely increasingly prefer commuting via car or bus. This is positive because of road projects like the Mordialloc Freeway which are expected to reduce the commute time to Melbourne from the area. Additionally, congestion will be reduced and there will be another seamless and direct highway to Melbourne's middle ring in the south-east. Drivers could go Mornington Peninsula Link to the Mordialloc Freeway and then onto the Dingley Bypass seamlessly.

    [​IMG]
     
  16. hieund85

    hieund85 Well-Known Member

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    From proposal to reality is a long long way to go. There are so many proposals never come into life, especially before an election.
     
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  17. Cimbom

    Cimbom Well-Known Member

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    Back in Canberra!
  18. Sakil

    Sakil New Member

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    Do you know about Emanda estate in melbourne.