All Topics / General Property / Speculation on Areas

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  • Profile photo of DWolfeDWolfe
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    Hi all,

    Anyone care to speculate, guess, crystal ball gaze or dartboard some areas where they think good growth will come along in a relatively short time.

    D

    DWolfe | www.homestagers.com.au
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    Profile photo of sam2011sam2011
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    @sam2011
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    in long term i like gosford, they have a new city plan which looks impressive if you buy in the right location

    Profile photo of fWordfWord
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    @fword
    Join Date: 2009
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    In Melbourne, at least in the cheaper outer East, one of them might be (or at least I hope) Croydon, particularly the area north of Maroondah Highway, bordering on Ringwood, Warranwood and Croydon Hills/ Croydon North. Short drive to the train stations, and with buses to commute to either Ringwood or Croydon station. Close to prestigious schools: Yarra Valley Grammer, Luther College, Rudolf Steiner…quiet and country-like compared to neighbouring Ringwood.

    I'm putting money where my mouth is in this instance because I actually just bought my first property there and am betting for it to go up. It was also stated as being one of the suburbs to do well in 2010 in an article from Domain (a liftout from The Age). Not that I believe it has the best potential in Melbourne, but on a budget in the outer East, I reckon it's a good place to buy.

    Values in next-door Ringwood have gone up a good deal of late, pushing us average folk further out. Other first-home buyers with my level of average salary have generally talked about buying in Bayswater, Boronia and Ferntree Gully. In that sense Croydon seems to have been forgotten. It's almost a crossover from city into country, yet it has ready access to Eastlink, shopping centers and also schools. The houses on some of the streets here are quaint, older, single-storey weatherboards often on big blocks of land 800sqm or larger. That's some serious family-sized backyard there.

    The original houses have great charm, and rows of these look just beautiful from the street, particularly with the majority of them looking very well-maintained. But any willing person could knock it down and build a mansion or possibly subdivide. It will be a matter of time I think, before these bigger blocks start disappearing and give way to units.

    Either that, or I bought wrong and I just have a vested interest in writing here… I'll be hanging onto this place for sometime, so hopefully at least time would fix my mistakes.

    I'll be very interested to see what other areas are mentioned here…unless they're red herrings.

    Profile photo of devo76devo76
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    @devo76
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    Shoalhaven region on the south coast of NSW may do well in the future.

    #Good job growth  prospects with big Defence/aviation contracts being awarded to the Naval base there.
    #Redevelopment of the CBD and actuak development of the Nowra riverfront finally on the Table.
    #Close to beaches/mountains. 2 hours to Sydney and 2.5 to Canberra
    #New road to link Canberra to the coast with Nowra the coastal connection. Knocks a lot of time of the trip. Look what it did for batemans bay.
    #Highway now at preferred route stage from Kiama to Nowra. When built it will be dual carriage all the way from Sydney to the south coast.
    Affordable housing compared to neigbouring areas.
    # Rising population
    # New jail to the south almost built.Employment plus.
    # many other big developments in varying stages. Island resort,shopping center expansion,green farming,ethanol plant.
    # one of Terry Ryders top picks for NSW.

    Some bad points
    # Above average unemployment although i think it is by choice for many.
    # Part of above. It has a bad arer just dont invest there. problem fixed.
    # Still a little too far to commute to Sydney although many comute to Wollongong.

    Disclamer

    I may or may not have a few properties here. ( I do) :)
    I have lived here a long time but travel often and have seen much of Australia so i think i can give a valid opinion.

    Profile photo of DWolfeDWolfe
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    @dwolfe
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    Well FWord, now I know who I am fighting it out with in Croydon, Mooroolbark and Lilydale. (As well as all the FHB who will pay ANY price)

    I also like Mitcham an Nunawading. I like Carrum and Wantirna South as well.

    I like Geelong too but I haven't started looking properly yet.

    Sorry I forgot the WA ones East Vic Park and Belmont. They had a huge price rise years ago and are gearing up for another one.

    D

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    Profile photo of DWolfeDWolfe
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    Yeah Shoalhaven still has a bit of cheap property getting around. What do you guys think about Tamworth?

    D

    DWolfe | www.homestagers.com.au
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    Profile photo of fWordfWord
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    DWolfe wrote:
    Well FWord, now I know who I am fighting it out with in Croydon, Mooroolbark and Lilydale. (As well as all the FHB who will pay ANY price)

    I also like Mitcham an Nunawading. I like Carrum and Wantirna South as well.

    I like Geelong too but I haven't started looking properly yet.

    Sorry I forgot the WA ones East Vic Park and Belmont. They had a huge price rise years ago and are gearing up for another one.

    D

    Heheh, my fight was over months ago, so I won't be back for a while. I shouldn't buy another property in Croydon, based on the philosophy of 'spreading risk'. Montrose might be the other sleeper suburb (very liveable, safe and beautiful, by the sounds of it). I'm still new to this property thing, but when (and if) I get to buy my second property, I'd be considering if I would live there myself before actually buying.

    Mitcham and Nunawading, even Vermont/ Vermont South and Forest Hill, Heathmont…these were amongst the surburbs I targeted to buy my first home. But as the story goes, I was rapidly priced out and couldn't get in before the market soared beyond my reach. I'm guessing it'd be hard to find a detached house in these areas now at the 450K mark, unless it's in a condition needing a fair bit of work, or a small house on a small block of land.

    This is why I referred to Croydon: the next suburb out where a family-sized block is still within reach of someone willing to splash out up to 450K. I have a colleague living in Wantirna South. Nice over there, but again seems to be tough to catch at 450K.

    Profile photo of DWolfeDWolfe
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    $450? Yeah Mitcham is in the 600's even Croydon is on at mid 500's. Montrose has an ok road out but no rail. Kilsyth was on my list but there just isn't that much around there to draw in huge amounts of renters or buyers. And once again no rail. It will always be ok as an area but not special. (I may eat my hat later) Ringwood East is good with the hospital redevelopment and the hop skip and a jump to Eastlink and Eastland SC. Still shopping.

    Wantirna South is the sleeper. I think it will be the slow and steady growth. Not huge jumps but a nice even percentage each year.

    Just my opinion.

    D

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    Profile photo of benno79benno79
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    DWolfe wrote:
    Well FWord, now I know who I am fighting it out with in Croydon, Mooroolbark and Lilydale. (As well as all the FHB who will pay ANY price)

    I also like Mitcham an Nunawading. I like Carrum and Wantirna South as well.

    I like Geelong too but I haven't started looking properly yet.

    Sorry I forgot the WA ones East Vic Park and Belmont. They had a huge price rise years ago and are gearing up for another one.

    D

    I like Geelong as well. I grew up there but now live in Melbourne, but looking to buy in Geelong shortly and ultimately move back there.

    Its had conservative but steady growth recently so less chance of rapid price decline should the market collapse.

    Its a relatively comfortable ~55min train ride to Melb CBD provided you get a seat – I'm sure this issue will be addressed in time.  Transit times will only improve long term. 

    I think a lot of people who are priced out of a Melbourne family home will start looking there..though I am biased as I am one of those people!

    Profile photo of fWordfWord
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    DWolfe wrote:
    $450? Yeah Mitcham is in the 600's even Croydon is on at mid 500's. Montrose has an ok road out but no rail. Kilsyth was on my list but there just isn't that much around there to draw in huge amounts of renters or buyers. And once again no rail. It will always be ok as an area but not special. (I may eat my hat later) Ringwood East is good with the hospital redevelopment and the hop skip and a jump to Eastlink and Eastland SC. Still shopping.

    Wantirna South is the sleeper. I think it will be the slow and steady growth. Not huge jumps but a nice even percentage each year.

    Just my opinion.

    D

    Oh, I was quite the idiot when starting out in property. The first house my Dad and I went to look at was in Mitcham. That was back in March/ April last year I suppose. Average house, 'quite crappy' (my Dad's words), perfectly liveable. $438K it sold for. Another of the houses not long after that was one in Vermont South, similarly average, good deal of cracks in the wall and we were worried about the grouting. Sold for $451K. Needless to say I then unhappily watched as prices in these suburbs soared into the 500's and 600's.

    Even in Croydon there was a house I liked and offered on. Quoted at 385-420K and sold at 488K. Geez…thank goodness the search is over, at least for now.

    Profile photo of DWolfeDWolfe
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    Yeah, I am going down to Geelong to see what is down there. I drove back through it on the way back from a week in Lorne and I was amazed at how big greater Geelong is and how many big shops, rail yard and industry. I'm going tomorrow (my dad wants to look at a car 2 birds 1 stone!) benno it would be great if you could just draw me a really broad demographic/area map so I know what I'm driving through. Thanks in advance!
    Sad story fword. I could have bought an older house oposite really nice park, walking distance to Belmont shopping center (WA), 1000sqm block for 240k. Now they want $640k for the same thing. Crying buckets.

    D

    DWolfe | www.homestagers.com.au
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    Profile photo of benno79benno79
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    DWolfe,

    Send me a PM and we can exhange info on Geelong region.

    There is a wide variety of demographics in Geelong so it depends what you want to cater for. 

    I think Nth Geelong has good potential as it has its own train station on the Melb line and borders some nice suburbs to the South. Geelong West is very popular but maybe the boat has already sailed in terms of growth.

    If your in Geelong on a Saturday get the Geelong Advertiser and have a look at some open for inspections.

    Home time for me
    Enjoy

    Profile photo of fWordfWord
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    @fword
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    DWolfe wrote:
    Sad story fword. I could have bought an older house oposite really nice park, walking distance to Belmont shopping center (WA), 1000sqm block for 240k. Now they want $640k for the same thing. Crying buckets.

    D

    Far out! How long ago was it that it was just 240K? In this instance you would have some experience of what suburb boomed after you started checking it out, and there might be some factors responsible for its movement.

    Geelong was a place I considered somewhat vaguely, due mostly to the travel distance if I had to commute back and forth just to find the right place to buy. After that it could be simpler however if I could have a trusted agent to manage it for me. My first visit to Geelong was 7-8 years ago when we were passing through. It was real sleepy at that time. Last year I visited again and it was well and truly on its way, lots of activity. Hindsight is a wonderful thing.

    Profile photo of DWolfeDWolfe
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    4ish years…. It was on it's way when we were living over there for work. We did buy and double our money, but double is not triple lol!

    D

    DWolfe | www.homestagers.com.au
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    Profile photo of fWordfWord
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    DWolfe wrote:
    4ish years…. It was on it's way when we were living over there for work. We did buy and double our money, but double is not triple lol!

    D

    That's amazing. Although you would also have to take some credit for doubling your money in that 4 short years. I don't know WA at all. Was Belmont considered a 'crappy' suburb 4 years ago? Was it characterised by good infrastructure such as the presence of schools, train station and shopping center back then? Or did the arrival of such amenities bring up the price?

    These days I wouldn't bet on a 300K suburb in Victoria doubling (or even tripling) in value over 4-5 years. At a glance, the infrastructure in these areas just doesn't cut it. And I wouldn't want to buy in a hole and at the same time bet (probably against all hope) that the necessary infrastructure will come in!

    Profile photo of House CallHouse Call
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    DWolfe wrote:
    Yeah Shoalhaven still has a bit of cheap property getting around. What do you guys think about Tamworth?

    D

    Hi DWolfe, I know your comment was a while ago. Tamworth is an excellent place with developments happening in all directions. Current population now 50000. New subdivisions around town x4 (at least) bringing an estimated 15000 people here over the next few years. Drivers are things like BAE flight training school (trains RAAF pilots to fly then military takes over); several chook and meat processing plants, big regional hospital, recently completed equine centre (also driving up prices of any small farms around town capable of holding horses).  More to say on this.  Are you looking here?

    Profile photo of DWolfeDWolfe
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    Hi House Call,

    Thanks for the info! I was looking before our strategy moved away from +cash flow and into developing. We have stuck to Victoria for this reason, it is a lot easier to control a development in the same state as you :).

    I am revisiting a few areas in NSW for the future, hunter valley and surrounds due to tourism, close to airport, and industry. May look back into Tamworth to look for a few opportunities.

    It is great to revisit posts like this as Wantirna and Wantirna south did go up, from about $400 ish up to mid $600's at the current time.

    This is the great thing about a forum like this, it gives people who are not on the ground the ability to investigate areas :)

    Keep the great info coming everyone better than sitting on our hands!

    D

    DWolfe | www.homestagers.com.au
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    Profile photo of Luke007Luke007
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    I like Mornington, Altona, Box Hill and Heidelberg Heights. Also a fan of Mitcham as per the posts above.

    Profile photo of gronk007gronk007
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    Box Hill and Mitcham are well and truly gone if you're looking for bargains….Box Hill has been ballistic, even if you're looking at Box Hill North…

    Profile photo of DWolfeDWolfe
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    Yeah have to agree with you gronk007, those areas are done, but people are still buying in. Box Hill has so much planning and infrastructure happening that it is a great area but the price is hideous.

    Still going back to Boronia and Bayswater, Boronia seems to have stabilized nicely with more stock on the market putting a floor under prices at about the $380k mark (family size house). It was starting to get a bit stupid as there was nothing to buy but now a good amount on the market, not too much. Seems to be some good buying out there now.

    I was waiting for prices to begin to deflate in the blue chip areas but it has not happened. There is the same amount of stock on the market as last year and more buyers so looking good for anyone who has something in those ares (boo not me :P) So I think it looks good for steady prices into next year.

    D

    DWolfe | www.homestagers.com.au
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