http://theadvocate.yourguide.com.au/news/local/news/general/values-go-wild-in-west/1273476.aspx

Values go wild in west
BY JANAE HOUGHTON
16/09/2008 10:16:00 AM

AS LONG as petrol prices climb and there is a lack of infrastructure in outer suburbs, house prices in Sunshine and Braybrook will continue to rise, local real estate agents claim.
Braybrook and Sunshine were among the Real Estate Institute of Victoria's top 10 in terms of one-year median price growth for the 2007-08 financial year.

Braybrook was number two - median house prices there jumped by 41.7 per cent to $350,000 - while Sunshine was ninth, with 35.1 per cent growth to $344,500.

However, neither suburb featured in the top 10 list for five-year growth, which was dominated by affluent eastern suburbs.

So, are Braybrook and Sunshine one-year real estate wonders?

No way, said Sweeney Real Estate Agent sales consultant Fred Sutton.

He said that as development in suburbs such as Maribyrnong, West Footscray and Maidstone pushed prices up there, Braybrook became the next option.

"It is an old housing commission suburb only 10 kilometres from the city. Lots of people are knocking the old houses down and building new ones or sub-dividing the big blocks," he said.

Douglas Kay Real Estate director Adrian Kay said Sunshine and Braybrook had everything people needed.

"As long as petrol prices keep rising and there is a lack of infrastructure in the outer suburbs, people will keep looking at these areas," he said.

"The market has stayed solid. Where else in Melbourne can you be 12 kilometres out of the city and still get a house for $350,000?" he asked.

REIV president Neil Laws said Melbourne's west had boomed.

"When compared to suburbs of equal distance from CBD in the east and south-east of Melbourne, the west represents great value and this will ensure solid growth over the medium term."

James Home Ratings buyers advocate Mal James agreed that Sunshine was becoming popular.

"It has all the infrastructure: shops, the train station, easy access to the city. The equivalent in the east would be at least double the price.

"Sunshine has a good mix of period homes and homes built in the 1960s, '70s and '80s," he said.

The chief executive officer of western suburbs advocacy group LeadWest, Anton Mayer, said rising property prices suggested people were discovering the west.

"It's great - it means people are coming to live here because they want to live in the west. The Sunshines, Braybrooks and Maidstones are becoming attractive to a new breed of people." Mr Mayer said the challenge was ensuring infrastructure and services were in place to keep up with population growth.

Braybrook is being raided by developers due to the large ex-housing commission blocks. Overdevelopment looms large

The issue of over-development is common all over Melbourne. The state gov't is encouraging in-fill development, in order to slow down urban sprawl and save on infrastructure costs. This can been seen all over Melbourne with units/townhouses being built in back-yards of properties, or in place of old properties.

It is good however that Sunshine is being noticed as a growth suburb. It has alot of potential

Yes, we have tons of infill in Sunshine, too. And it's only cheap for the person subdividing - equally likely to be an ordinary person seizing an opportunity as small businessmen hedging their incomes by engaging in building new homes.

Trouble is, the infill has no premium on road repair costs, open space - yards are tiny while public open space is disappearing as fast as our Councillors can find some 'better use' for it.

And the infrastructure cost is not nil. Already Brimbank Council has lowered road maintenance standards to 'what they can achieve'. They want EXISTING RESIDENTS to fund new drains to facilitate easier development approval for infill.

And, what do you gain? Lots more neighbours, no privacy, no new schools, no new parks, no new community facilities and the HIGH PROBABILITY THAT YOU WILL NEED TO PAY FOR ROAD UPGRADES AND STORMWATER INSTALLAION.

Meanwhile, we lose trees and gardens that help reduce pollution and get cars and pavements.

And they want to put freeways through you suburb. Yeah, ain't it great Sunshine's a growth suburb...

Whilst infill and the issues associated with it are a concern, the point of the article has been missed. Sunshine is an up and coming suburb. Areas such as Central Sunshine, Matthews Hill and Albion have period homes, and coupled with the proximity to the CBD, aswell as transport, schools, shopping etc., Sunshine house prices are set to boom. As prices rise, so does the bargaining power of its residents. Look at Yarraville and Williamstown (places which i have lived in). They had similar images to Sunshine in the past, but now they have a strong lobby and influence. And they are on the up and up. Trust me, Sunshine can only improve from its prosperity.

Absolutely no doubt, Sunshine, Albion etc are up and coming and its fantastic!! I agree the leverage and influence of our community will grow as this occurs. As a community we will need to be more outward looking and open minded if we are to reap the benefits.

http://www.theage.com.au/national/house-sale-prices-head-north-west-20090114-7h1d.html

Broadmeadows topped the list, with house sales values up almost 6 per cent in the last three months of 2008 to $269,500. Niddrie ran second, up 4.5 per cent to $571,500, while the first-home buyer's enclave of Caroline Springs grew 4 per cent to $324,500. Sunshine and Albion also made the top five for price growth.

West

Suburb Price
Williamstown $810,000
Essendon $650,000
Ascot Vale $643,000
Moonee Ponds $606,000
Flemington $544,000
Maribyrnong $535,000
Newport $512,000
Altona $500,000
Yarraville $500,000
Kensington $492,000
Seddon $496,000
Niddrie $485,000
Spotswood $465,000
Keilor $455,000
Footscray $440,000
Avondale Heights $440,000
West Footscray $423,000
Maidstone $422,000
East Keilor $417,000
Altona North $409,000
Taylors Lakes $388,000
Point Cook $378,000
Cairnlea $360,000
Sunshine $354,000
Derrimut $330,000
Caroline Springs$328,000
Hillside $327,000
Altona Meadows $325,000
Keilor Downs $325,000
Burnside $314,000
Sydenham $299,000
Tarneit $296,000
Truganina $292,000
St Albans $277,000
Ardeer $265,000
Laverton $265,000
Deer Park $260,000
Hoppers Crossing$258,000
Werribee $235,000
Melton $215,000



http://www.homepriceguide.com.au/snapshot/price

http://www.news.com.au/heraldsun/story/0,21985,25970964-2862,00.html

IT may not have Luna Park or a beach, but blue-collar Footscray is being dubbed our "next St Kilda" as Melbourne's population continues to surge.

"House prices have gone up 22 per cent in one quarter. We are so under-priced here," Cr Clarke said.

there is only one thing missing - footscray is not a bayside suburb! i would have thought comparisons with williamstown and st kilda are justified, but not with footscray. footsracy can best be compared to richmond - 'richmond of the west'

2 houses in Sunshine, near the Council Office over the past month, sold for over $500K.

Things are look bright for Sunshine!

Quset Two wrote:
2 houses in Sunshine, near the Council Office over the past month, sold for over $500K.

Things are look bright for Sunshine!

is that 500k each?
doesn't sound very 'affordable housing' to me.. for that money you can buy in the east easy

I walked past a real estate office the other day and saw the "sold" signs in the window.

Place in North Sunshine are now getting well over $400k regularly, $500k prices in Sunshine central are no longer unusual.

on a weekly basis now, there are houses in sunshine selling for over 500k. central sunshine, matthews hill, north sunshine and even albion are booming.

all this is fine, if you're already a home-owner. but my kids can't afford to buy ahouse in sunshine anymore.

sorry but any suburb within 15km from the city will be expensive. there are plenty of affordable properties in places like werribee, hoppers crossing, melton. ave price in these areas are about 200k. you cannot expect to live near the city and have all services at your door step for less than 500k. this is reality.

outer suburbs wrote:
you cannot expect to live near the city and have all services at your door step for less than 500k. this is reality.

less the 500k.. i think you can.. that's BS!
the average house price in sunshine is still below half of the east 13k out.
i think the average is mid/high 300k.
bigger blockers would be more but 500k.. it would have to be huge!!

this is changing rapidly though. as per comments above, it was rare previously to see 500k+ houses in sunshine, now they are a weekly event. it will soon show in the stats. remember the stats lag, so those currently being shown are when the property market slumped. it has now started to pick up.

BS wrote:
outer suburbs wrote:
you cannot expect to live near the city and have all services at your door step for less than 500k. this is reality.

less the 500k.. i think you can.. that's BS!
the average house price in sunshine is still below half of the east 13k out.
i think the average is mid/high 300k.
bigger blockers would be more but 500k.. it would have to be huge!!

Not a chance mate, its hard to find a house in central sunshine for under 400 k now.

Even tear downs are selling for around 420k

Footscray too wrote:
http://www.news.com.au/heraldsun/story/0,21985,25970964-2862,00.html

IT may not have Luna Park or a beach, but blue-collar Footscray is being dubbed our "next St Kilda" as Melbourne's population continues to surge.

"House prices have gone up 22 per cent in one quarter. We are so under-priced here," Cr Clarke said.sounds good ,i would say that they
did not look at the filthy rat infested footscray
market