Melbourne Westen suburbs property market
Written on the 31 May 2017 by James Cagney(A 4 minute read)
This is the area of greatest expansion in Victoria. Numerous large multinational and local developers have shown their commitment to this area. The councils in this area are competing with one another and readily approving new land developments.The expanding population are buying into this area because it offers affordable house and land packages from $350,000 to $420,000. Renters are also flocking to the area because of the reasonable rents of $350 to $420 per week and the proximity to Melbourne and Geelong and recreation facilities that the western suburbs offers.
Most of the new developments are with 40 km from both Melbourne and Geelong. The Princes Freeway from Melbourne to Geelong offers easy access to both cities. Unlike the Monash Freeway, servicing the Eastern suburbs of Melbourne, the traffic flows reasonably well at peak times to and from the CBD.The Melbourne Geelong railway line offers excellent public transport to both cities. The building of the Regional Link from Deer Park to West of Werribee gives access to Tarneit residents and Wyndham Vale residents to the Southern Cross station in Melbourne and the Geelong Stations.
At peak hours express trains can have residents working in Melbourne CBD arriving at the Tarneit station within 20 minutes and Wyndham Vale station in 30 minutes. This is the time it takes Melbourne some inner and outer suburb residents to get to the city by car, train and tram.However, long term local residents in the western suburbs are complaining about the lack of upgrades to arterial roads to local facilities and to the Princes Freeway. By adding tens of thousands of homes to the west will compound the situation and local councils will have to step up and spend the funds that developers have given them and the new rate payers are giving them on roads and public transport. As usual councils are happy to take the extra cash and are slow to spend it on the community.
Immigrants are changing the demographic of the western suburbs. Just like many suburbs in the Melbourne east in the 1990's the Oriental and Asian immigrants are starting a new life in the west. These residents are mostly renters but history has shown in the eastern suburbs of Melbourne they work hard, diligently save, open businesses and after a few years become home owners. The migrant parents encourage their children to study hard to get tertiary education and earn good incomes. In the eastern suburbs these migrants want to send their kids to good schools which focus on education achievement and the suburbs around these schools will be the most sought after by renters and home owners.James Cagney has a good understanding of which western suburbs in Melbourne have good potential for investment. James believes that demographics and price are the keys to potential growth in the western suburb of Melbourne. Investors must seek advice from real estate professionals who know the market. Factors these professionals must know:
Infrastructure requirements and plans
Investors who don't know the area must be wary of just looking on the internet and believing what the spruikers have to say. James Cagney has done his research into the western suburbs of Melbourne and you can contact him on +61 416 137 645 or click >>> HERE. If you would like to know about the opportunities other areas in Melbourne that James Cagney has researched :
This is not financial advice. You should not act solely on the basis of the material contained in this article for your investment strategies. Changes in government and legislation occur frequently and without prior notice and financial markets are unpredictable.
This information was written and compiled by James Cagney. The opinions expressed herein do not necessarily represent the views and opinions of his associates including
Thank you to the resources of Terry Ryder, Property Observer, The ABS, BIS Shrapnel, Michael Matusik, Property Monitors, Colliers, On the House, Corelogic, RP Data, Residex, SQM, Herron Todd White, NAB Residential Property Survey, Australian Bureau of Statistics, Peter Wargent, Port Phillip Publishing, Economy & Markets, Harry S. Dent and the many others for the material discussed above.
Author: James Cagney