Anyone know whats happening with the suburb Laverton. I am a bit concerned, I have a 5 bedroom house in laverton and I am finding it difficult to rent. I just spent some money in renovation thinking that I will sell it and get a better price. But the price in this suburb is seems to going down further. On the other hand just a few ks aways Laverton north is doing quite well. I just read that there was appreciation of 44% in Laverton north. Anyone else in the same boat or have some insights?
The problem with Laverton is that there are brand new houses in Point Cook just down the road that are renting for low 300’s due to an over supply, I believe the vacancy rate is up around 14% so definitely no shortage.
Laverton is hmm hmm well a warzone, its is the first place I seen rented houses with the plaques of the real estate that manages the property on the fence so they can be contacted if there are any problems. There are pretty much no shops or culture. The houses are old some even look like sheds. The only thing it really has going for it is access to the highway and the train line. I think one day it will be a good suburb to invest and become something simliar to Glenroy but I believe the Point Cook development will have to stop and people then look to renovate the Laverton post war homes thus making it a decent place to live and in turn capital growth.
I agree with fredo, we both just commented on anOther post about near by suburbs
I live in the west and the property market is flat, one of the main reasons is there is no shortage of land, so many new areas beingbuiltJpcashflow | JP Financial Group
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Also, I doubt houses in Laverton North have increased by 44%. Maybe the statistics show that they have, but like for like houses certainly haven't. The problem with median house statistics is they are easily skewed by new developments or lots houses in a particular price point selling for some reason or another.
Cheers,
LukeCan't say I would aim to buy a 5 bedder anywhere. Three bedder max. Little families that can't quite afford a mortgage only need 3 bedrooms. By the time they can afford rent on a 5 bedder, they can probably afford their own mortgage.
Jacqui Middleton | Middleton Buyers Advocates
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luke86 wrote:Also, I doubt houses in Laverton North have increased by 44%. Maybe the statistics show that they have, but like for like houses certainly haven't. The problem with median house statistics is they are easily skewed by new developments or lots houses in a particular price point selling for some reason or another.Cheers,
LukeI believe these median house price rises are due to williams landing being the same postcode? or at least included in laverton prices, and house prices are significantly more there in new estates.
just my 2 cents..
Michael
JacM wrote:Can't say I would aim to buy a 5 bedder anywhere. Three bedder max. Little families that can't quite afford a mortgage only need 3 bedrooms. By the time they can afford rent on a 5 bedder, they can probably afford their own mortgage.Interesting. Thanks for that.
I've generally avoided 5 bedders for another reason, such as the trend of families becoming smaller, and an increasing proportion of DINKs. It depends however, on the area and the price. I won't necessarily turn up a chance to purchase a 5-bedder at the price of a 3-bedder.
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