Hey guys I wondering if anyone can help me with some advice! I am thinking of purchasing a property in Noble Park for 380k the agent is telling me I can get anywhere between $350-$380 p/w is this a solid investment?? The property is the one below it is brand new and will be completed in 3 months according to the agent… Any advice would be greatly appreciated…
http://www.domain.com.au/Property/For-Sale/House/VIC/Noble-Park/?adid=2009901558
Hi Costas,
I can't give you advice but I can give you my 2 cents for what its worth.
I have a few investors who have purchased in Noble Park and they tend to look at the North /North East areas. They also look at properties that are within walking distance to the station.
Not sure what your definition of a solid investment is. Does it have a good rental yield? Its not bad but you can do with a bit better yields. Does it have solid tax benefits? Yes, it s a new dwelling so you will do with it comes to depreciation. Does it have CG potential beyond the traditional CG growth? I don't think so. It looks like a new dwelling on a very small block so you are paying for the construction not the land. I may be mistaken though about the land size.
Regards
Shahin
TheFinanceShop | Elite Property Finance
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From someone who knows Noble Park backwards .. North of Heatherton Rd is not where you want to be for either investment or the long term.
Know all the Sudanese issues they have in Noble Park? They exist mostly in the areas of Noble Park North and the areas just off Kelvinside Rd.
Your spot in Jeffers St is a 'quiet' area of Noble Park. Its got the hospital close by .. and bus transport for most directions. But it remains miles from the station .. miles from shopping (Douglas St in Noble Park is a reasonable shopping strip with a Coles supermarket on it.)
3 Train stations exist in Noble Park .. Sandown .. Noble Park and Yarraman station. If looking for longer term value and purchasing in Noble Park .. aim for the areas south of Douglas St with proximity to any one of the stations. There are always a couple of townhouses being built in that vicinity .. its very popular and they sell quickly.
I agree that if your idea of a "solid investment" is a high yield, then you are better off looking elsewhere, as there are other properties with higher yields. Also, there are other properties with better cashflow potential too.
Although it really does depend on what yoru investment goals are?
yes., plus the site looks more of a recreational place not so often visited by people and has few commercial areas too include employment seem far.
Thanks guys for all your feedback I am still in two minds. The agent has now readvertised the property and dropped the price slightly so I might be patient with this and see where we end up…
http://www.realestate.com.au/property-house-vic-noble+park-111169939
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