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Bundoora Investment properties - worth it??

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Snoopy | 13 Feb 2015, 07:23 PM Agree 0
Hi we are seriously considering buying an investment unit in Bundoora, near the universities. Problem is, extensive research shows that capital growth is minimal - to say the least.

There are various reasons we would like to have furnished place (but not specifically student accommodation as such), but prices seem to go up and down and not follow the usual cycles. We are happy to let it sit for a few years, and use it occassionally in between tenants (when visiting from Sydney), but even if profit is not great would NOT like to lose money in the long term and we notice many properties have gone backwards in the last few years, some being currently sold about 50 to 100 thousand below original price.

Why would this be? Bundoora seems a nice place with good facilities, good shopping centres nearby, and it's not that far from Melbourne CBD...

If anyone has any ideas/opinions to share, and can help us clarify this mystery I would love to hear.
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