Hi all,
I am a newbie in this forum and also new to property. We have just sold our 2-bedroom unit in Preston and are looking for a 3-bedroom house for our family. Preston isn't bad in terms of amenities; however, I wanted to buy in Essendon. That's why we are renting here to try the area first. My husband always wants to move to Eastern suburbs - e.g. Box Hill, Box Hill South, Blackburn, etc. I am not a big fan because we both work in the city, so close proximity to the city is a must-have for me.
Essendon nearly ticks all the boxes for me: good schools, close to the city, close to Asian community. My only concern is the long-term capital gain for Essendon properties. After the boom in 2010, Essendon house prices have been stabilising while Preston and other Easter suburbs are having good growth spurt. Maybe it's because of Chinese/Asian buyers don't keep their eyes on Essendon compared with their sought-after suburbs such as the other ones. So perhaps in the long term, purchasing a house in these suburbs will bring more capital gain compared with Essendon. Anyway, it's just my thought and it can be wrong. I just want to ask for your second thoughts on what you think about these suburbs and your projection for their house price trends. Thanks heaps!
I am a newbie in this forum and also new to property. We have just sold our 2-bedroom unit in Preston and are looking for a 3-bedroom house for our family. Preston isn't bad in terms of amenities; however, I wanted to buy in Essendon. That's why we are renting here to try the area first. My husband always wants to move to Eastern suburbs - e.g. Box Hill, Box Hill South, Blackburn, etc. I am not a big fan because we both work in the city, so close proximity to the city is a must-have for me.
Essendon nearly ticks all the boxes for me: good schools, close to the city, close to Asian community. My only concern is the long-term capital gain for Essendon properties. After the boom in 2010, Essendon house prices have been stabilising while Preston and other Easter suburbs are having good growth spurt. Maybe it's because of Chinese/Asian buyers don't keep their eyes on Essendon compared with their sought-after suburbs such as the other ones. So perhaps in the long term, purchasing a house in these suburbs will bring more capital gain compared with Essendon. Anyway, it's just my thought and it can be wrong. I just want to ask for your second thoughts on what you think about these suburbs and your projection for their house price trends. Thanks heaps!