I've narrowed down my areas after alot of research.
Recap: Buying first house interstate in VIC. Plan to live in for a few years then use equity to buy an IP.
I want good capital growth potential.Budget is $200k, preferably less (I'd settle for a $160k house if i found a good one) but could go to $220k if we felt it was absolutely worthwhile. Need a house with a yard, prefer larger block for possible future subdivision but not mandatory.
With that in mind, which of these areas do you prefer as far as CG goes:
Melton
Ballarat
Bendigo
Wonthaggi
HastingsOthers which might be just over budget but possibility if sellers negotiate price:
Cranbourne / Cranbourne North
Pakenham
MorningtonThanks all, looking forward to hearing your advice.
What did r/e.com turn up?
You mentioned Mornington; what about Frankston? This is still a cheap suburb and will boom (already started), with houses with yards for under $200k. Maybe not the best area of Frankston, but your price range limits you a bit.
I'm aware of the current love for Frankston but couldn't really turn up much there in the 200k range.
We dont mind a house that needs or could do with some reno's but dont want a really old house that will require tens of thousands of $$ to fix up.re.com.au turns up some good houses in all suburbs I mentioned.
What Im really asking is what do the experts here see as far as capital growth goes?Will areas closer to Melb such as Melton, Hastings and Wonthaggi fair better in the long run compared to rural areas like Ballarat and Bendigo?
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