To me this area seems very underprice, its a nice area close the the beach etc etc
yet the apartments go for relatively cheap prices
Any reason for this? What should i keep an eye out for?
I know theres not much public transport, but is there something I am missing?
Elwood is a great area to invest in and if you are talking about a long term perspective – you will achieve above average capital growth.
But I'm not sure you could call the apartments underpriced.
3 years ago we bought 2 bedroom unrenovated apartments for clients in good positions for $280,000 in Elwood.
Last year we bought similar apartments for $350 -$375,000
Today these apartments would cost $450 -$475,000.
Having said that I bought a block of apartments in Elwood at the end of last year as the position is superb and the ongoing demand from tenants and owner occupiers will continue unabated.
And you are incorrect about the transport. Depending where you are in Elwood, there are trams, buses and trains
hm just inspected a property worth 240 000 today,
weekly rental 215
caulfield north rental is 240 for 240 000 apartments,
capital growth opportunities may be there but cash inflows i think not
You are not going to find a decent rent return in any cap city at the moment due to the recent booms.
Elwood is a high demand area, and the cap growth is generally good, but you won't find anything underpirced there.
What/where are you comparing the prices to?
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