Land & Homes in South East Melbourne
May 21st, 2008 | by winsonlee |
South Eastern Melbourne is running low on land. Land in Berwick which is 45km away from the city is nearly sold out. Sooner or later, those who would wish to build their own house will need buy land as far as Pakenham located 60km away from the city. Not unless if you have extra cash that you wouldnt mind buying an existing house, demolish it and build a new one. Keysborough and Waterways that are located 35km away from the city are selling for $55/sqft. By the time you build a house in that area would have cost you more then $600k. Should we start looking at places in West Melbourne instead ? Or we should just give up our dream of building a new house and buy an existing one ? At this point of time I still do believe in the things that I want.
2 Responses to “Land & Homes in South East Melbourne”
By J on May 21, 2008 | Reply
West Melb is less favorable because
1. More crimes (Sunshine,Altona,etc)
2. The sun glare when you drive from West to South East in the morning and when you drive home to the West in the evening
3. There are more industrial areas in the West so might be more hazardous, less healthy lifestyle
4. The traffic congestion on the West Gate Bridge which is going to be the next 18mths for the new constuction.
Just my 1cent opinion.
By winsonlee on May 21, 2008 | Reply
It definitely does make sense. Thats why people still look for house in the south east Melbourne although the house would have cost them half a million compare to western which is only 300k. Some would prefer staying at Berwick that is 45km away from city instead of Altona which is 20km from the city.
End of the day, people would go for places that is nice and comfortable to live in and also the appreciation of the property. How much a property appreciate is really depends on the demand and supply in each area. Although the property cost more then half a million, end of the day if there are people who are interested in the property, the appreciation value will be better compare to houses in the west.