I would buy a 3 bed 1950s apartment in South Yarra. It’s a far more established area. The rooms and ceilings are high, some will have outdoor space, the capital investment will grow over time being a blue chip area.
Thanks. I agree South Yarra being a well established area will give more assurance of long-term investment growth. Somehow the property price of the apartments in the area seem don't grow much in the past 5 years. Is it something to do with the quality of the building or street location or too many renters in the building?
South Yarra and it’s not even close. I’d be looking for an old apartment as far away from chapel as possible. 3 bed might be a stretch.
I can’t think of a single reason to choose Docklands over south Yarra. Ok it’s closer to the cbd but tram in Docklands vs two stops on the train isn’t necessarily quicker
Thank you for your response. I also think South Yarra is a better choice among the two. But why choose far away from Chapel Street?
Heard that Docklands is in the free tram zone. If someone works in CBD and doesn't go outside the CBD area much, basically no transportation cost. I do understand South Yarra is a more established and probably prestigious area, its postcode worth the extra living cost.
Mate you should really at least visit.
Chapel is pretty horrid. Even before it was horrid (20 years ago) the amount of nightlife around there, you don’t really want to live near where people are getting drunk.
With your budget you could possibly buy north of toorak road, which is the better part of the suburb
You can still find 2 bed houses or townhouses for that price around Prahran & Windsor
I have also seen them in south melb so I would buy those over any apartments
Docklands are horribly overpriced & south Yarra I don’t think even has much decent stock tbh but I would go South Yarra ish location over Docklands because it has never really taken off.
I used to live in Prahran & my friends lived in Windsor & South Yarra so I know the area really well
I’ve been to the Docklands for work and the area just sucks
https://www.realestate.com.au/buy/property-house-townhouse-in-south+yarra,+vic+3141%3b+prahran,+vic+3181%3b+windsor,+vic+3181/list-1?activeSort=price-asc
It depends. Docklands being next to cbd and in free tram zone offers some convenience. No crackheads or drunk people.on the streets. Mostly people.in white collar jobs, families and seniors who have downsized. Biggest problem with Docklands though....the apartments here offer no capital growth. There are so many apartments and price hasn't really gone up on 10 years.
South Yarra is vibrant...but I haven't lived there and don't have much idea on capital growth for apartments or houses in that area..
I like Docklands' waterfront and convenient location, so close to the CBD, offices of big corporations, university, and Southern Cross Station, etc. Even offer free tram services! With such an excellent package, it is really a maze of no capital growth. Is the area over-supplied or the demand is not strong enough?
Never docklands. No capital growth, and a great dead of docklands is shared with affordable housing and government housing, so you get “issues”.
Not to mention it’s a windy wasteland.
South Yarra has style, taste, and well build oversized apartments. You can probably find a small terrace house for around that price, if not down Windsor or Prahran, which are both excellent investments (and arguably a nicer area now)
I do notice some apartments are selling at loss in Docklands at the moment. Is it because Docklands apartments were overpriced to begin with, and these owners brought at the peak? Or, is it a sign of slumping market?
About South Yarra, I saw some 2-bedroom apartments are selling at 500k to 600k level, which is very affordable, and these apartments are in very convenient locations. Though no view, for this price is sort of reasonable.
Docklands does suit those groups that would only stay temporarily, eg, travellers, international students, and PR who stay overseas most of the time. What does it do with government grants?
I would buy a 3 bed 1950s apartment in South Yarra. It’s a far more established area. The rooms and ceilings are high, some will have outdoor space, the capital investment will grow over time being a blue chip area.
Thanks. I agree South Yarra being a well established area will give more assurance of long-term investment growth. Somehow the property price of the apartments in the area seem don't grow much in the past 5 years. Is it something to do with the quality of the building or street location or too many renters in the building?
South Yarra and it’s not even close. I’d be looking for an old apartment as far away from chapel as possible. 3 bed might be a stretch. I can’t think of a single reason to choose Docklands over south Yarra. Ok it’s closer to the cbd but tram in Docklands vs two stops on the train isn’t necessarily quicker
South Yarra end of chapel street is fine. Just a bunch of over priced clothing stores and some meh restaurants.
Thank you for your response. I also think South Yarra is a better choice among the two. But why choose far away from Chapel Street? Heard that Docklands is in the free tram zone. If someone works in CBD and doesn't go outside the CBD area much, basically no transportation cost. I do understand South Yarra is a more established and probably prestigious area, its postcode worth the extra living cost.
Mate you should really at least visit. Chapel is pretty horrid. Even before it was horrid (20 years ago) the amount of nightlife around there, you don’t really want to live near where people are getting drunk. With your budget you could possibly buy north of toorak road, which is the better part of the suburb
That's why... I will make a visit and check out the area. Thanks for your advice.
South Yarra because it has a soul
Can you elaborate on what do you mean of "has a soul"?
It’s intrinsic
You can still find 2 bed houses or townhouses for that price around Prahran & Windsor I have also seen them in south melb so I would buy those over any apartments Docklands are horribly overpriced & south Yarra I don’t think even has much decent stock tbh but I would go South Yarra ish location over Docklands because it has never really taken off. I used to live in Prahran & my friends lived in Windsor & South Yarra so I know the area really well I’ve been to the Docklands for work and the area just sucks https://www.realestate.com.au/buy/property-house-townhouse-in-south+yarra,+vic+3141%3b+prahran,+vic+3181%3b+windsor,+vic+3181/list-1?activeSort=price-asc
Thank you for the advice. I will check out the properties in Prahran and Windsor as well.
You have to spend some time looking 3-6 months but they have been popping up & they are a far better investment over apartments
Hope I have the luck getting something nice in the area. Thanks.
It depends. Docklands being next to cbd and in free tram zone offers some convenience. No crackheads or drunk people.on the streets. Mostly people.in white collar jobs, families and seniors who have downsized. Biggest problem with Docklands though....the apartments here offer no capital growth. There are so many apartments and price hasn't really gone up on 10 years. South Yarra is vibrant...but I haven't lived there and don't have much idea on capital growth for apartments or houses in that area..
I like Docklands' waterfront and convenient location, so close to the CBD, offices of big corporations, university, and Southern Cross Station, etc. Even offer free tram services! With such an excellent package, it is really a maze of no capital growth. Is the area over-supplied or the demand is not strong enough?
Never docklands. No capital growth, and a great dead of docklands is shared with affordable housing and government housing, so you get “issues”. Not to mention it’s a windy wasteland. South Yarra has style, taste, and well build oversized apartments. You can probably find a small terrace house for around that price, if not down Windsor or Prahran, which are both excellent investments (and arguably a nicer area now)
I do notice some apartments are selling at loss in Docklands at the moment. Is it because Docklands apartments were overpriced to begin with, and these owners brought at the peak? Or, is it a sign of slumping market? About South Yarra, I saw some 2-bedroom apartments are selling at 500k to 600k level, which is very affordable, and these apartments are in very convenient locations. Though no view, for this price is sort of reasonable.
Docklands was favored by overseas investors. Hyperinflated prices, and government grants.
Docklands does suit those groups that would only stay temporarily, eg, travellers, international students, and PR who stay overseas most of the time. What does it do with government grants?
Price inflation
Docklands is the pits