Hi everyone I was wondering if anyone out there could give me some advice of capital growth on apartments in Stkilda ,
I was under the impression it would be a great place to invest , ie near the city near the beach , lifestyle etc ,
but I was suprised to see a property report on growth which predicts the median property price for an apartment in st kilda west in 10 years will be 677k and stkilda will be 845k , and judging by what the current median is , this seems like very small capital growth , and info would be much appreciated , thanks.Hi,
You can't go wrong in St Kilda or St Kilda West, or Elwood, just make sure you don't overpay for property. All my properties have doubled easily every 7 years since 1988. It is a very unique part of the world and I highly recommend it for the long term.
Franco
Where possible buy second hand units with a good out look. Generally in a normal market a new unit will devalue to a level above older units for the first two years. Then the property will start to appreciate in line with the rest of the units in the area.
Hi Mr. Property.
Just been helping family freshen up an apartment in Stkilda and Elwood – and if they had bougth 1, 2, or 3 years ago they would have been laughing all the way to the bank……….and I think they still are. Only just bought, but a very tight, hot market. Not much under 500-550k at all there – and what is is rugged. Not sure where you get the small cap growth idea from.Hope that helps. Cheersthanks for your advice , v8ghia there was an article in the paper a couple of weeks ago which was aparently done by Australian Property Monitors , it outlines future growth for most of melbourne over the next 3 , 5 and 10 years periods , I was just wondering how accurate it was that was all. cheers
mrproperty wrote:thanks for your advice , v8ghia there was an article in the paper a couple of weeks ago which was aparently done by Australian Property Monitors , it outlines future growth for most of melbourne over the next 3 , 5 and 10 years periods , I was just wondering how accurate it was that was all. cheersI read that article a short time ago. If what they say is right, we should be trying to buy a unit in Sandringham. Or, if you're looking at the budget segment, consider Tyabb(!) which from memory seems to triple in price in the next 10 years.
I am looking at 1 bedroom apartments in St Kilda, St Kilda West and Elwood at the moment for investment.
Has anyone had any first hand experience investing in this area?
Any tips to share?
Thanks.
We have clients making their own apartments and town-houses in St Kilda West, and it seems well worthwhile. Land is expensive, planning and heritage issues are a pain, but the end values are impressive.
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