I would love anybody’s feedback on what they think about buying an IP in Packenham, Vic? I tried a search on this site but it was locked. Has anyone bought in Packenham? Has anyone thought of Packenham and is there any future infrastructure that may suggest that capital growth may be achievable. I would greatly appreciate any replies while I do my due diligence now…’Alright, I can hear you all sniggering!! (Yeah, nice work on the due dilligence Gatsby!!). But seriously, any opinions would be most grateful (and don’t worry, funny material and laughter will be dubbed in later!)
Kind regards,
Gatsby!I’ve just completed a search on Google for ‘Packenham and population growth.’ I’ve done a print out and it seems to cover a broad sweep of southern Melbourne. Does anyone have any suggestions/tools to fine tune into Packenham? I’ll change my avatar quote to ‘Will Work For Food’ (in exchange?).
Many thanks,
Gatsby!Hi Gatsby,
Sorry I can’t help too much ATM, I have been in and out for the past few days (and will be so, for the next week at least) hence I have not been able to gather much except for this little bit I found (on the run) this morning:
Domain Suburb Snapshot: Pakenham
http://www.domain.com.au/UserServices/suburb_report.aspx?mode=subsell&PostCode=3810Cardinia Council (demographics & forecasts)
http://www.id.com.au/cardinia/forecastid/default.asp?WebID=220&MnID=4&PgID=1Cardinia Council Homepage
http://www.aussoft.com/cardiniaweb/index.asp?h=-1I don’t know how you went with your search, however, I would imagine that you spelt PAKENHAM correctly; otherwise that may be why you had some trouble.
Either way, sorry the info is brief (but rushed) got rush off again; good luck with your search. Pakenham is very close to Cranbourne, and both these areas are expected to do well; so IMO if you take a close look, you will find that property prices are still very affordable and rental returns are fairly average. Don’t forget http://www.realestate.com.au
Cheers,
Jo
I own one in Pakenham. If you are looking for cash flow Pakenham is not the place. You would be looking at about 4-5% returns at the moment. It does have huge population growth, but a fair bit of land left too.
If you are going to buy something with only 5% return then I would look for something beachside in WA.
SlumLord
Dear Jo,
As usual, many thanks for all that info ‘on the hop!’ I’ll get stuck into it. Slumlord, many thanks also. If anyone else wishes to add there 5 cents and upwards of advice/opinions, they would be greatly appreciated.
Thanks again,
Gatsby!Hey Kaloni,
Many thanks!
Kind regards,
Gatsby!Hi Gatsby,
Pakenham is 10-15 mins from where I live. It is the local town that we do shopping etc.at, so we know it pretty well.
Pakenham is growing very quickly!! It is no longer a country town out in the sticks!
As a long term (neg. gearer), I feel it would definitely appreciate (similiar to Narre Warren) in the next few (??) years, because of the Pakenham Bypass that will make commuting to the city even quicker. North of the highway is usually where the nicer homes & better capital growth has been.
Kooweerup is another town that is growing. A smallish country town 10-15 min drive from Pakenham . It is finally starting to be sub-divided. House prices are a little dearer here than Pakenham, due to the small size of the town. Lots of people moving out from Pakenham to Koowee. to get away from the hustle & bustle. A gem of a town if I do say so myself!![biggrin]
If we can help you further, don’t hesitate to ask..
Del
Dear Wilandel,
‘Do you know where I can buy a cashflow pos,…………….’ Seriously, many thanks for your reply and grately appreciated. Forgive me if questions do arise and I ask another.
Kind regards,
Gatsby![biggrin]
No probs Gats, I’m happy to help if I can.
Regards,
Del
You must be logged in to reply to this topic. If you don't have an account, you can register here.
