VIC Wyndham City - Truganina, Laverton, Tarneit, Wyndham Vale, Point Cook, Werribee...

I have a particular interest in this area and would like to discuss experiences, research and updates related to residential property in the region through this thread. Especially around:
- Capital growth
- Livability
- Community (changing rapidly)
- Schools

Note: there are separate threads for a couple of suburbs in this region - Wyndham Vale, Werribee Werribee!


Population
Data from official census and other publications by the Australian Bureau of Statistics:
2001 - 84,861
2006 - 112,695
2016 - 217,122
2019 - surpassed 250,000 (non-ABS sources. no census)


(Population forecasts | City of Wyndham | forecast.id)


Infrastructure & Investments
I swing by the area every few months and there's clearly a lot of infrastructure work going on. Each time I go by, the area has had more development.

The pace of which, I'm not sure is keeping up with population growth though. Peak hour congestion is pretty bad. My weekend drive from the CBD to Truganina is 30mins. But this can be 2-3 times that at peak hour.

Some new schools are being built and are to-be-built.


PT
Tarneit station opened up a couple of years back. Packed and overflowing from day 1.
A dire need for better PT access and bus network.
Some proposed train stations for the region. Not quite sure when these will happen yet.


My story in Wyndham City so far
Purchased some land in Truganina (480sqm. early 2017). Next to Woods road (where a train station is proposed. My best guess is that it's still a few years away, despite what developers may tell you). The land itself seems to have appreciated around 10% p.a. since then (going by what land is selling for now). Intent is for my parents to move in there when done. Maybe myself, later down the track when a family is in the picture.

I'm planning on building there once titles are issued Q4-2019(ish). a single storey 5bedder (about 27 squares). The total cost will be $600k, excluding any landscaping & driveway - I haven't gotten to costing that yet. My plot in Truganina is 23km from the CBD. My thinking is, this may be my only chance to build a nice big house with a backyard for myself within the 25km ring from the CBD. Average inclusions (walk-in-pantry, 2.5m ceilings, double vanity, evaporative cooling).

Prices around my land have slowed down a bit this year. While I have heard about bad experiences where some bought at the peak of the land boom last year-ish, overall I feel the area still has good value for budgets under/around $600k.

 

Victoria dumps Australian Education City proposal

This news is short-term negative for the western suburbs, but longer term, I agree with your thinking "this may be my only chance to build a nice big house with a backyard for myself within the 25km ring from the CBD".

Only want to add that if you have a 400+ lot, why not build a 2-story 5 bedder with more living area and maybe a theatre? it's going to cost more, sure, but in the long run, it would appreciate a lot more than a single-story house and would be much much quicker to sell if you eventually decide to downsize. (just a tought).

I've seen people building 2-story houses in northwestern Sydney many years ago when prices were similar to that of Western melb today, and they've all doubled in under 10 years.

 

Why would you spend more on building a double story?

Land price is always the same. Between a single story 4 bed and double story 5 bed, yoi are looking at at least 40k to 50k extra.

That would also be the difference in the fibal price. The market is similar for both products. If turned into an investment, former will give you less returns.

Bad decision imho.

Regards

 

Nir if you build a 27sqm home on a 480sqm block there won’t be any backyard

 

You can have a 5 mt backyard on a 12.5 wide 22 sq home on 375 sq mt lot.
Basically, you are adding 47 sq mt on rest of 105 sq mt lot.
That will be an additional 4.5 mt approx. On 12.5 wide making the backyard as 120 sq mt approx.

That leads me to ask, how much backyard is decent enough?

Regards

 

You actually can. Mine comes up to 4.99m (depth) and 14m wide in the Siting Plan. For me, that's plenty!

 

Happy days well done

 

In the new neighbourhoods in Truganina, plenty of massive double stories coming up - Looks good for sure

But in my case, I can't afford that extra $50-80k.

From an investment point though, I would not know if the ROI is any better if you build a double. I've heard conflicting views on this.

 

Why spend 40k to 50k on additional floor when you can buy a new property in that deposit.


Regards

 

well, w.r.t double-story vs single story, i was just speaking from my own experience (which is rather limited to be sure).

My observation has been that: a nice 2-story 4-5 bed house with multiple living areas sell quickly and at a premium, as this is "the standard" for many buyers who are willing to pay more. For me, at least, I find it a "lot" nicer to walk out from the bedroom onto a balcony where I can enjoy a nice view into the distance, instead of into a backyard looking at the fence. (personally, I've never lived in a single story house or slept in a ground floor unit).

Several friends have mentioned that they would have bought a double-story one if they could afford it. Totally understandable, but what's left unsaid is that:
1. they have to live in a place that isn't exactly satisfactory for many years
2. when it comes time to sell, the prospective buyers would also tend to be constrained by budget and unable to pay a high price for it.

Anyway, each to their own. I appreciate that there are other folks who find a single story house more appealing (one reason might be that: someone in the family has medical conditions that make it hard to walk upstairs; i've noticed this issue in a tenant family, and an agent mentioned it to me too)

 

Yeah, sure. as I said, it was just a thought.

 

Proportionate to the population growth, there will be a huge number of homes to be built as well, not sure but approx 35000 homes. With so many houses to be build and land availability.
How much capital gains and chances of having property on rent for investors?

 

35k homes?

Where does that data comes from?


Regards

 

These are only assumptions.
Within Wyndham City, the largest growth will happen in Manor Lake, Little River and Tarneit, thats where is the vacant land available. If the population grows from 260K - Yr 2019 to 480k - Yr 2041 (above graph). Total population growth 220k
Considering growth 35k dwelling are very conservative figure. Even if you consider 3 person per house, that gives 70k + dwelling. Obviously there would be other factors to consider as well.

 

Wyndham Vale Property Growth: 5 Reasons Why This Suburb is Booming - Savana

Doing some research and came across some interesting info....a sheep farm has sold his farm for approx $96M to Singapore based company to build town centre.and other things in the area...

 

Growth happens with demand.

When land grows, land around plays catch up.

Drive around, see if there are any deals. If find one, go for it without thinking twice.

Regards

 

Great areas to buy. In Syd same distance is $1m

 

Frasers Property to deliver $440 million Mambourin town centre – Shopping Centre News

 

The reason these suburbs are growing is because they are closer (they are 25-35 klms) than places like Narre Warren, Berwick in the Outer East of Melbourne.

For example in Wyndham Vale...they are putting in 2-3 new shopping centres including the Dennis Family backed Manor Lakes shopping center near the station. In my view anything within 1.5 klms of station will become premium in future years as the train stations are getting packed including the one at Wyndham Vale.

Once the fast train comes in it will be another step up. I have seen the growth in the West in the future ...it will grow much faster than the Outer East plainly based on price point!

 

Frasers have a good reputation of putting in infrastructure in a Town Center environment. Just looks at the Edmonston Park Town Center in Sydney!