Where 'NOT' to buy?

[bluelabel]

Bushman started a thread asking where the real estate 'hot spots' were.

I am going to flip the coin and ask where would you not buy and why?

I personally am going to say the corridor in melbourne from eastlink (patterson lakes) through to cranbourne, up to berwick and out to pakenham. Is it just me or are they just trying to jam as many houses in there as possible without any future thought mainly to traffic congestion. The traffic in Berwick now is attrocious and the only thing worth seeing out that way is the freeway to get the hell out of there. All these developers are just slapping houses up that seem generic and I really cant see the value in these 'popburbs'.


:bier:

blue

[2BAD4U]

I have a problem with suburbs that are being rezoned all the time. Every second house is advertised as a duplex, triplex, etc site. Investors rush in, force prices up and then create an over supply in the suburb. This may be ok in suburbs close to the city but not in the outer suburbs. In Perth I would put Armadale in that category.

[bluelabel]

Probably should have done this on the original post, so here is the link to Bushmans real estate hot spots thread

http://www.aussiepropertyforums.com/forums/showthread.php?t=13

:)

blue

[Bushman]

I am not a fan of Torquay or Point Cook - I mean who is going to head out there if 'affordability' returns to the estates closer to the Melbourne CBD.

Anywhere on the Vicotrian coast that might be affected by local councils (read fools) trying to plan for global warming.

NSW in the next 1-2 years. Their economy will be bearing the brunt of this credit crunch.

[kincella]

copied this from the other aussie forum....


Do some research before making that big tree / sea change article today about the unhappy people, its a good read, and note they probably cannot afford to buy back into the city...note only 50 took part in the research...
I recall Corowa back in 2000...now this place was popular for city folk, weekends...with the golf club and Browns Winery
bought a house for my brother...he liked the area....I was stunned when I went down on Sundays... dead as a doornail...only a cafe and bakery opened...think the supermarket closed at 12 on Sat....
but over the years the tree changers arrived...and Corowa has grown up...a bit...population doubled or tripled....
so if I were doing a tree change...I would spend a few weekends there beforehand...to check it out...
I love the city...so no chance of change for me...never ever

http://www.theage.com.au/national/wh...n.html?page=-1
__________________
Property Investor in Commercial and Residential. I hold for 10 years or the mv reaches my sell figure
:D

[kincella]

New data plots boomers moving to the coast
copied from the other forum...again..as usual

wow...I like Bernard Salt....not just as a demographer...but he is a charterd accountant...and they are imo a canny intelligent group

so planning where to invest for the next 2 decades...you will find some good infor in here...including links to the ABS site...but that one is copyright..so just read if for yourselves
ps...I have downloaded by state...its in excel....cannot scroll down the usual way...so am finding that is a problem...anyone else find the answer to read it like a word doc,,would be good
cheers
http://www.theaustralian.news.com.au...-25658,00.html