All Topics / Help Needed! / ip in vic

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  • Profile photo of jecjec
    Member
    @jec
    Join Date: 2006
    Post Count: 8
    October 19, 2006 - 12:14 pm

    Can people please give me their honest views on the following areas for an ip

    Altona Meadows
    Point Cook
    Williamstown
    Preston
    Thornbury

    Can i expect if i buy for example a 3 x 2 in point cook for $320 000 to rent it for $300 + pw

    I know they are all different areas but would like some feedback on all suburbs if possible.

    If people had $400k to spend on an ip where would people buy in vic? Would prefer house or townhouse rather than unit. We are looking for more cg than + cashflow.

    Profile photo of MichaelYardneyMichaelYardney
    Participant
    @michaelyardney
    Join Date: 2001
    Post Count: 616
    October 21, 2006 - 5:10 am

    If you are looking for capital gain – and congratulations for doing so, becuase that’s what creates true wealth in property then the best indication of future capital growth is the past capital growth of a suburb.

    And teh longer a suburb outperforms, the more likley this is going to continue in the future.

    I am an investor and not a speculator, so rather than trying to pick the next trend or the next hot spot and “hoping” I would look at the past history of groth of the suburbs you mentioned. You can by a Residex report or find 5 year data for free at http://www.reiv.com.au

    Both Thornbury and Williamston are great areas in which to invest. I would avoid the other suburbs.

    Once you’ve selected the suburb, then of course you need to find the right property at the right price

    Michael Yardney
    METROPOLE PROPERTIES
    Publisher of Australia’s leading property e-magazine.
    Join over 17,000 readers.
    FREE subscription http://www.PropertyUpdate.com.au

    Profile photo of ShOw_Me_ThE_MoNeYShOw_Me_ThE_MoNeY
    Member
    @show_me_the_money
    Join Date: 2004
    Post Count: 80
    February 16, 2007 - 5:19 am

    Based on my knowledge (from staying in Preston for the last few years and been enquiring about Point cook – looking to buy my own house there), i’d say Preston, Thornbury and Williamstown would be excellent for IP’s. Not sure about altona meadows but point cook is definitely a NO for IP’s at this stage. Point cook would rise eventually but nothing as compared to rate of increase in suburbs like Preston, Thornbury and Williamstown.
    Capital Growth would be better in Presto, Thornbury and Williamstown and renting the houses shall be a no brainer in these areas as there’s a lot of demand.

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