Best suburbs for capital growth?

[kennas]

G'day,

Anyone got some data on the best suburbs for capital growth around Melbs?

I'm biding my time at the moment, but I think there'll be some good opportunities in residential investments after the bubble properly burts and prices come back to a reasonable level.

My intital thoughts are inner city, close to the usual amenities, worst house in best street yada yada. Perhaps north around Nth Fitzroy, East Brunswick, Northcoate ish...

Any ideas?

Cheers,
kennas

[Bushman]

G'day,

Anyone got some data on the best suburbs for capital growth around Melbs?

I'm biding my time at the moment, but I think there'll be some good opportunities in residential investments after the bubble properly burts and prices come back to a reasonable level.

My intital thoughts are inner city, close to the usual amenities, worst house in best street yada yada. Perhaps north around Nth Fitzroy, East Brunswick, Northcoate ish...

Any ideas?

Cheers,
kennas

For the inner north, you cannot go past Carlton/Fitzroy North for long-term capital growth. 10% p.a year-on-year lock it in. Cannot rent a house in either suburb - bohemians and all that.

Couple of other land locked inner noth suburbs that can only go up is Clifton Hill and Collingwood.

South-east - not my area. Maybe Elwood, St Kilda and Middle Park.

[Mike_87]

G'day,

Anyone got some data on the best suburbs for capital growth around Melbs?

I'm biding my time at the moment, but I think there'll be some good opportunities in residential investments after the bubble properly burts and prices come back to a reasonable level.

My intital thoughts are inner city, close to the usual amenities, worst house in best street yada yada. Perhaps north around Nth Fitzroy, East Brunswick, Northcoate ish...

Any ideas?

Cheers,
kennas

Hi, I'm doing a fair bit of investing in the northern suburbs of Mernda, Doreen etc. The market is going gangbusters at the moment. Also beginning to develop as well. I know it's not the areas your looking at, but there is good money to be made. All the best!

[jayarr]

I'm still having a real great doubt about this whole thing.....

I wish i could figure things out sooner.

[Krish]

Hi all,

I thought I would get this thread started again.

Interested to hear your thoughts...

I'm liking the fundamentals of Wendouree and Ballarat, particularly with the recent state government announcements to funding in the rail network and the establishment of the $55M medical centre in Ballarat.

Certainly areas to watch out for in terms of significant capital growth

[jbocker]

I bought a place in outer western suburbs (Caroline Springs) in April 2007 (gosh I had to check - Time flies), I did this because of one thing.
I watched my home town Perth boil in price increases as the ES market came to town and bought extensively, our median surpassed Melbourne and was rapidly catching up to Sydney. I was looking for an investment property locally and for $350K could not find anything sensible, so i looked to Melbourne, and could not believe the 'cheapness' by compaison at the time. I flew over to check and through conversations ended up in Caroline Springs and walked through property with jaw dragging on ground. Ended up buying a 6 yo 5x3 on 750m2 block for $360K. I had a hunch (that one thing) the median would return to normal ranking and Melb overtake Perth again (which it did do). I expected it might take a while and it didnt really get going till 2009. Infrastructure development that was commenced was akey to looking in CS - the bypass road and the CS town centre development.

I noticed the opening statement by Kennas about biding time till the bubble bursts, I trust not too much time was bided waiting for that burst. I am reasonably guessing that the CS house is now well and truly into the 500s now.

I dont see much growth left and expect stagnation in prices for a few years now in Melb. But that again is still a hunch, I dont proclaim to be an expert, but work on the philosphy that a good time to buy is when others are not (and have not been for a while).

Nowadays I am slipping the odd dollar away in other things that I think are out of favour (not property for the moment).

[Krish]

I also agree with the above post as I think Melbourne metro will be flat for the next 12 months. I have several inner city properties in Melb and don't see the value in investing in Metro Melb at the moment with poor rents and high entry costs, the numbers don't stack up.

The opportunities are in Regional Victoria which will experience significant growth as long you as you stick to the majors Geelong, Bendigo and Ballarat. Look at where give money is being spent..

[Ladyhawk]

The opportunities are in Regional Victoria which will experience significant growth as long you as you stick to the majors Geelong, Bendigo and Ballarat. Look at where give money is being spent..

I've thought this for a long time.

[Krish]

Do you have any IPs in Regional Vic?

The Libs have also confirmed the $5bn regional rail link will be going ahead and a further $55m has been confirmed to build a new cancer hospital in Ballarat.

The growth that will take place in Western Vic over the next decade will be unprecedented. Take a read of KPMGs latest report.

[Ladyhawk]

i don't but i've had my eye on ballarat for a while...
with this news it is even more of a temptation...