The prices will go up / go down. That's what happened in US (2009 crash) and then again it went up. Earth population has increased from (6.8 Billion) 2009 -> (7.6 Billion) 2018, so the demand is always going to just keep increasing unless some asteroid fucks this up :-). Keep investing, keep treading for a better future. I will invest in SpaceX IPO as well (future proof - to mars). Enjoy.
Point Cook is Overpriced - No Doubt about it. I am watching this market for the last 3 years and see that the houses which quoted 650K-750K AUD in the year 2017 is asking for 950K AUD to over 1 million AUD now. In Point Cook if the seller is asking for 900K-1.2 Million range the actual price is 630K-750K, AUD. It does not worth a penny above that. It takes hours to reach freeway. Both Point Cook and Sanctury Lakes are SWAMP/MArsh Lands. IT IS OVERPRICED. Please think twice before investing here. I am one of the victims here who purchased a house here. Price is Point Cook area is a ballooned one.
Poor infrastructure planning not keeping up with the number of new estates being built each year.
The town centre while cute doesn't really cut it for variety.
Finally they're upgrading Sneydes road onto the freeway but that will just add you into the already bulging queue on the freeway.
The Point Cook Rd carpark takes longer to get to the train station than the train to the city itself and then you have Williams Landing and various other estates growing on the other side.
I looked into moving to Pt Cook 10 years ago but all of these problems were obvious then so I stayed in the South East.
Point Cook is a bubble suburb. Logistically there is nothing for investors to grip their toes in. It's too far from the CBD to be a good catch, the houses were over-priced and many are made with timber interiors, without double brick. It's former swamp land, which in my opinion is a risky move due to unstable soils etc.
The traffic is offputting.
And frankly the local council seem more concerned with bolstering the other areas in the west than addressing the sorely needed issues in Point Cook.
Many different opinions are available why prices go down or up in any suburb, often (and I have seen this in a few suburbs) when things go down, it may be a sign that they were too high to start with and people who rushed to buy (before they went up further) may have paid too much....then find themselves having to sell for one reason or another, and to secure a quick sale, any agent will tell you, set it low and watch it go!
With interest rates at record lows, (e.g. 4.69% fixed 2 years) now is the time to buy if you are in the market, or perhaps even look at restructuring your current home loan if you are paying more than this!
Help is just a phone call away or drop me a quick email :)
Good luck with it
The selling market has been effected everywhere. However point cook seems to have had a harder hit because there is just so much to choose from. In saying that the market does seem to be improving and buyers confiedents is showing
buyers have too many option these days but in saying that they are starting to go up slowly
All Australian real estate price has decreased in the past year, we are going through a cycle, theres always a low, then it goes crazy for another 2 years, I predict this will occur from December onwards this year. Get yourself some real estate while the prices are low, they will never be this low again! History can tell you that!
.. until you goto Hawthorn/Kew/Canterbury/Surry Hills/etc.. (all around there) and prices are still crazy :( It's killing me :( <-- I'm in the market to buy .. but can't afford these prices, still :(