Forums / Property Investing / Help Needed! / Property Cycle in Melbourne

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  • Profile photo of Dan19Dan19
    Participant
    @dan19
    Join Date: 2009
    Post Count: 14

    Hi everyone!

    I'm a new investor and just wanted to throw out a broad question as I've been bombarded with so much information it's confusing me. I am currently a uni student and work part-time. I've always had a passion for properties and have decided this is what i want to pursue for the future. Our family and I in particular are always doing research over research and struggle to act at times.

    We currently have our PPOR and another IP in the eastern suburbs of Melbourne. We are now looking to purchase another investment property and was wondering whether it would be a good time now or have we already missed the boat as property prices have already started to rise. Our first IP is self-managed but we would like to put this next one under management. I know as an investor you shouldn't always rely heavily on the market but just wanted to see other people's opinions for where the market would be heading in the future and specifically in Melbourne. 

    At times we all need a little reassurance and I am so grateful to have gained so much knowledge from everyone here.

    Cheers

    Dan 

    Profile photo of oc1oc1
    Participant
    @oc1
    Join Date: 2012
    Post Count: 148

    Prices are rising but they haven't peaked. Not all suburbs have risen either. You should be ok as long as you don't pay too much. The level of stock is also low at the moment which is putting upward pressure on prices.

    Oscar

    Profile photo of JpcashflowJpcashflow
    Participant
    @jpcashflow
    Join Date: 2007
    Post Count: 575

    Melbourne market is still flat and it all depends what area you looking at!!!

    some areas are steady and some are flat…

    What particular area are you looking at?

    Jpcashflow | JP Financial Group
    http://www.jpfinancialgroup.com.au
    Email Me | Phone Me

    Your first port of call in finance :)

    Profile photo of Dan19Dan19
    Participant
    @dan19
    Join Date: 2009
    Post Count: 14

    We've been looking at areas such as Vermont, Forest Hill & Burwood East since we live around there and familiar with the market. Opinions of going bit more east into the Knox and Wantirna area? 

    Profile photo of jenni_nextplace.com.aujenni_nextplace.com.au
    Member
    @jenni_nextplace.com.au
    Join Date: 2013
    Post Count: 36

    They say Australias population will double by 2031 and that Melbourne will see the highest growth out of all the capital cities. food for thought.

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