Why is St Kilda so cheap?

Viewing 6 posts - 1 through 6 (of 6 total)

Ben
Participant
@greenpapermate
Join Date: 2016
Post Count: 2
July 24, 2016 - 10:10 am
Hi all,
Im from Sydney for reference but can see there are studios in St Kilda (grey st/canterbury rd and surrounds) that are sub $200K. Considering the distance from CBD and Beach and relatively surrounds – I am amazed it exists in any major capitol city let alone Melbourne. What are the negatives of these studios? (other than probably lower socioeconomic residents)
Scott No Mates
Participant
@scott-no-mates
Join Date: 2005
Post Count: 3,856
July 24, 2016 - 10:51 pm
Difficulty of finance, higher turnover of tenants
Colin Rice
Participant
@fms
Join Date: 2011
Post Count: 338
July 28, 2016 - 4:12 pm
Finance would likely be limited to 80% LVR or less due to the size of the apartments and depending on the m2 may be limited to a few lenders or possibly none so cash buyers only?
- This reply was modified 7 years, 9 months ago by Colin Rice.
Colin Rice | CDR Finance
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Ben
Participant
@greenpapermate
Join Date: 2016
Post Count: 2
July 28, 2016 - 4:53 pm
Fair enough, it makes sense. Thanks for the info.
Storeybuilder
Participant
@storeybuilder
Join Date: 2016
Post Count: 45
July 28, 2016 - 7:50 pm
How about you walk down grey st at 10 pm any night of the week, you’ll find out why really quickly.
Nigel Kibel
Participant
@nigel-kibel
Join Date: 2005
Post Count: 1,425
August 1, 2016 - 7:39 am
Its not the best area of St kilda but St Kilda is not cheap. What type of properties are you seeing that is sub $200,000
Nigel Kibel | Property Know How
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