I had a look at ex-housing commission house (those pre-cast concrete ones) from the 50s to 60s sold by DHS. Decent sized block.
Never really look at these type of properties before but I have seen ones in Chadstone, Northcote all sell in the millions now.THis one is pretty run-down – I had a builder check the place and he said 10K comestic reno? Wondering if there is anyone who has done a reno of these in Melbourne and any experience to share?
Not personally. You would want to check to see how many commission houses are still in the area though as this will effect rental / sale demand and values.
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This reply was modified 7 years, 9 months ago by
Colin Rice.
Colin Rice | CDR Finance
http://cdrfinance.com.au/
Email Me | Phone MePerth Based Mortgage Broker - Investment Property Finance Specialist | E: [email protected]
thanks colin, The thing is in Melbourne, there are ex-housing commission houses in prime suburbs like carlton, south Melbourne, port Melbourne, south yarra. Yes there are crappy ones in dandenong and sunshine.
Where I live in south Melbourne there is a huge block of tower but yet across the road the townhouses sell for 3 million plus now.
The street I have assessed has only 7 out of 60 homes which are till DHS as the rest are privately own and 50% have been converted to townhouses while the rest are still those pre-cast concrete houses. It doesn’t look great on some part of the streets but it is getting better.
Sounds like a different dynamic than Perth in this regard the way you have described it.
I lived in Melbourne for 3 years in the 90s (loved it) and remember the mix of the poorest of the poor and the very wealthy. Few pockets like that in Perth still but getting less and less.
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This reply was modified 7 years, 9 months ago by Colin Rice.
Colin Rice | CDR Finance
http://cdrfinance.com.au/
Email Me | Phone MePerth Based Mortgage Broker - Investment Property Finance Specialist | E: [email protected]
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This reply was modified 7 years, 9 months ago by
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