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Buy in Carnegie, Victoria

Discussion in 'Real Estate' started by rg11, 2nd Sep, 2010.

  1. rg11

    rg11 New Member

    Joined:
    21st Jun, 2010
    Posts:
    2
    Location:
    Melbourne
    Hi Anne

    I am looking to buy a properties both for investment and to live in Zone 1 in the East and South east suburbs
    The reasons I am looking to buy and zeroed in Carnegie are and some of the due diligence I have done are:
    1) Good suburb to buy both as investment property (NOT student accommodation) and self occupied
    2) Good rental demand as walking to schools and Monash university Caulfied campus
    3) Consistent capital growth of an average more than 10% in the last ten years (ref domain.com.au)
    4) Surrounded by premium suburbs like Caulfield, Malvern East, Glen Iris, Malvern, McKinnon, which has grown in Value
    5) Only 11Km from the City .Easy Access to the city via princess highway, St kilda road. Walking to train station, Tram at door step and Bus to City or to Chadstone. Also Short drive to the st kilda beach. Access to Monash Freeway from Warrigal road or Burke Road
    6) Walking to vibrant koornang shopping district with cafes and eating places. 5 min drive to Chadstone shopping mall. Walking to pharmacies, Safeway
    7) Have swimming pools, library, parks
    7) Suggested by various Propperty Magazines and real estate professional (known personally to me). Also suggested by one of the buyers agent in one their seminar

    Above are the reasons I am looking to buy here.

    Cheers
     
  2. Billv

    Billv Getting there

    Joined:
    15th Jul, 2007
    Posts:
    1,796
    Location:
    Sydney, NSW
    Ok then but don't buy yet, wait 12 months because prices are cooling off and could come back a bit
     
  3. rg11

    rg11 New Member

    Joined:
    21st Jun, 2010
    Posts:
    2
    Location:
    Melbourne
    Buy in carnegie

    I dont think the prices are cooling off in carnegie.
    My friend bought a apartment here short time ago and he is already getting an offer for a higher price to sell his apartment
     
  4. TDFawaz

    TDFawaz Tony

    Joined:
    1st Jul, 2010
    Posts:
    40
    Location:
    Brisbane, QLD
    it seems a good investment to me! cheers
     
  5. Billv

    Billv Getting there

    Joined:
    15th Jul, 2007
    Posts:
    1,796
    Location:
    Sydney, NSW
    Ok hopefully they wont :)
    At the end of the day it comes down to supply and demand. If the demand outstrips supply they can keep going.

    What usually happens though, is that when something overshoots it can quickly come back.
    So if you're going to buy a property anywhere you should be buying to keep for the long term.