I was just wondering if anyone has bought in woodlea. I am considering buying a townhouse house off the plan as an IP but it might take approx 1.5 years and don’t know if it’s good to have money tied up for that long. With the amenities and infrastructure still to come I’m wondering if it’s good to get in before hand as I’m reasonably young and can hold it for a few years. Thanks in advance
Don't touch it. In the middle of nowhere. No services or transport. Townhouses would be particularly bad as the demographics who live in townhouses also value convenience to things which Woodlea won't provide. Townhouses in such areas exist for two people only - the land developer and their builder who get their returns from flogging them off to 'investors'. If you like the area go for an established house in Melton or Deer Park instead.
I was thinking more for the future once schools and town centre are built, but yes that makes a lot of sense. Just harder to break into deer park and Melton is too far out for my liking.
Yes, Melton is further out from the CBD but the distance extra is an insignificant difference on the train for city commuters. And you've got established shops (eg Woodgrove), schools and services so a lot of everyday trips will be shorter and more convenient than from Woodlea. And parts of Melton are close to the proposed town centre at Toolern. Although developers may promise big shopping centres and jobs hubs, the fact is that if anything universities have been centralising and big new shopping centres are rare (there's been nothing to rival the size of Woodgrove, Highpoint or Watergardens in the west and all are decades old).
Good advice by @Spiderman. You are WAY too late to buy land and build any structure in Woodlea. A close mate of mine bought a large block, nudging 700m2 IIRC, for $245k. Right now, 448sqm blocks are over $400k. The time to buy in Woodlea was early last year, the boat's sailed. Try Melton/Melton South/some parts of Geelong (not Corio/Norlane).
Good advice. Just want to mention that Pacific Werribee in Hoppers is bigger than some of the names you posted . Regarding OP post, personally I would not touch any H&L stock in Melbourne atm, OTP townhouses are much worse. The boat had sailed.
Pacific Werribee is not exactly new (though it did undergo a large recent expansion). What is new is the large aquatic centre nearby, though...
Yeah, it is not new but got a very impressive renovation and expension completed in 2016 and some parts in 2017. The Aqua Pulse is new and very big but always crowded though.
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