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Looking for an investment property in Melbourne middle ring

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Arif | 05 Sep 2020, 07:44 PM Agree 0
Hi Guys , just wanted to know your view please - I wanted to invest in a house ( with at least 400sqm Land) somewhere in Melb middle ring - I am thinking of either Altona or viewbank . Budget appx 800k Appreciate your view Tks
  • Darren Venter | 09 Sep 2020, 04:56 PM Agree 0
    Hi Arif,

    Hope all is well.

    Are you looking to negative gear this purchase and is there a need for the property to be in these areas, eg; do you plan on doing work to the property yourself off or is there another reason?

    Our 2-year growth projection is for Alton is sitting at a high 2% to 3%, however, it is at the bottom of its cycle. Viewbank is in a similar position at the bottom of the market, however, the vacancy rates here are a lot lower (1.3%) and are showing signs of further decline compared to Alton (3028 Altona Meadows-2.1% / 3025 Altona North-4.6% / 3018 Altona Alton-4.5%) and in times like these, if you're after growth, I would aim around VR as a first indicator.

    With that said, there are higher rewarding areas within 2 hours from Melbourne CBD on a cashflow and growth level.

    I hope that helps.
  • | 10 Sep 2020, 12:56 AM Agree 0
    Thanks Darren - yes negative gearing should be ok . I am looking for long term investment thus wanted to buy something in Melbourne middle ring around 800k . I like Altona and surrounding because of its proximity to city and benefit they will get once new west gate tunnel up and running . Viewbank has top public secondary school & and tends to benefit from north east link project - do you have any other area close to melb cbd that’s looks attractive for long term investment ? Tks
  • PhilipGreen | 29 Sep 2020, 09:42 PM Agree 0
    hi
    I suggest you to check all the real state companies, select 4,5 agent from different companies , collect data from them without knowing them, as a suggestion, then go with a reliable person. under laws
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