Sydneysider Moving To Vic

[adznight]

I live in sydney western suburbs and have never had a problem. Just depends what sort of street you're in, there are some bad ones here and some good ones like mine. I doubt melb's western suburbs are any worse than here.

As for getting out then coming back.. yeah i know. prices will rise here whilst Im gone but Im hoping by buying cheap elsewhere i'll be able to save. And i plan for my income to increase substantially whilst Im living away from everything that distracts me here

I was looking at Your Mortgage magazine today and they had an article about some of the cheapest suburbs in Melb (no mention of what they're like though).

This is whats listed:

Melton - median price only 185k! Looked on domain and found some decent looking homes there.

Deer Park

St Albans - whats bad about this place? Seems to get a bad wrap? Is it like Bankstown in Sydney? If so i'll give it a miss, otherwise could be ok?

Broadmeadows

Cranbourne

Sunshine West

Werribee

Rosebud

Carrum Downs

Rye

Most of the above were showing growth over the past 12 months and all had average annual growth of over 8%.

I've increased my budget to 240k max as well. I'll get a better home for that price and its not a huge difference in repayments from 200k.

I've been looking at Adelaide as well but Melb seems to be the better choice (though i do like Adelaide) as far as return on investment when it comes time to sell.

Suburbs I know a bit about are -

Cranbourne - Not too bad if you like space but a little isolated, it depends on your style of living

Rosebud - Beach town, a little rough but overall a nice place, I've stayed there since I was a little tacker

Carrum Downs - VERY close to Frankston and it's super undesirable housing commission area called "The Pines"

Rye- The same as Rosebud but much quieter

I think the bottom line is that all property in the South side, more so down the peninsula is a guaranteed money maker over a decent investment period. You may not be out to make money but it's a nice bonus. Land on the Mornington Peninsula is VERY limited. A house we purchased in Blairgowrie right on the border of Sorrento has risen from around 85k to in excess of 350k in the past 10 years and will only continue to climb as developers seek limited land space. The Vic government is pouring moeny into the East and South East of Melbourne and the change is noticeable. Admittedly this wont change the type of people that live in the areas but if you look at Melbourne CBD's current hottest property locations they were ALL scum area's once I can't comment on the North and West as I know very little.

Good luck and happy house hunting!

[W0rp3D]

Carrum downs is actually getting a worse reputation than the pines, seems like a lot of people who live in the pines are buying house's in carrum downs.

[-R32GTR-]

Looking at a map, Im surprised at Frankston's bad rep considering its location fairly close to the water.

Anything within 20 mins of the water is prime location here

[W0rp3D]

The pines use to be housing commission back in the 60's/70's, thats where its reputation comes from, of course all the house's have been privately owned for a long time now and of course since frankston is so close that also gets a bad rap.

Its amazing how people who say not to live here have never lived here and have probably never even been here.

[-R32GTR-]

I just found out that first home buyers in VIC are not exempt from stamp duty as we are in NSW.

In NSW you get the first home owners grant AND stamp duty exemption but in VIC you can either get one or the other. This is then an extra $8k or so on the mortgage and pretty much eliminates the advantage of a first home owners grant.

That throws a spanner in the works...

[RON JEREMY]

...if you look at Melbourne CBD's current hottest property locations they were ALL scum area's once I can't comment on the North and West as I know very little.

Wot he said like I said before St Kilda and Richmond had a bad rep now people are falling over themselves to rent or buy in the area.