Edgewater,any goss?

[sethlad]

This place has me really confused,decent position but cant shake the
"Housing Development" tag.

Fairly pricey too,warehouse appartments start at $420K.
Any news,industry opinion would be much appreciated

Cheers
Seth

 

[Pantsless]

I run past it along the Maribynong a few days a week...for the last 11 months..

Seems to be progressing very slowly from what I've noticed..don't see much going up there when you compare it to Sunbury where my mate works for one of the housing companies...

 

[sethlad]

I'd say the Sunbury ones are considerably cheaper & thus,easier to shift.
Apparently some are due Mid 2005.

 

[Deej]

Would rather purchase in marina cove, down in safety beach, i know it's pricey but i just reckon when it's finished it'll be fantastic and it's the only place near Melbourne with decent canals that aren't stuck in or near suburbia so i suspect the values will sky rocket too.

 

[sethlad]

We obviously have different definitions of "near Melbourne" Deej.

 

[Deej]

mate it's only an hour and a bit drive from the cbd, what's wrong with ya?

 

[Pantsless]

Edgewater is 10 minutes drive from the CBD...you might be happy living out there, but I prefer to be closer to civilisation...

 

[finders]

The place is surrounded by flats full of druggies and dole bludgers and its really in FOOTSCRAY postcode 3011! Not worth more than 250-300,000.

 

[Deej]

Edgewater is 10 minutes drive from the CBD...you might be happy living out there, but I prefer to be closer to civilisation...

Yeah and i guess it depends on what your version of civilisation is.

Maybe the same thing i call the rat-race perhaps?

 

[sethlad]

mate it's only an hour and a bit drive from the cbd, what's wrong with ya

I work in the city,15 hrs a week in the car just to get to the office?
No thanks,already done that.

Im sure it'll be great though.

 

[Pantsless]

The place is surrounded by flats full of druggies and dole bludgers and its really in FOOTSCRAY postcode 3011! Not worth more than 250-300,000.

Bit rich from someone living in Dandenong...

 

[Falchoon]

Would rather purchase in marina cove, down in safety beach, i know it's pricey but i just reckon when it's finished it'll be fantastic and it's the only place near Melbourne with decent canals that aren't stuck in or near suburbia so i suspect the values will sky rocket too.

Safety Beach in general has sky rocketed already, particularly the ones with views over the canal. The holiday type houses 2 & 3 streets back from the beach have also tripled in the last 3-4 years.

 

[Squeak]

Does that mean my caravan at Halcyon Caravan Park in SB will have skyrocketed in value also?

 

[bigmicka]

edgewater, hmmm what a shocker of a development this is.

ok there are two sections to the development, the upper and the lower.

the upper is built on what was the site for the old ammunition factory. the Australian Deffence Industries (ADI still have a small office on the site) i would suggest that the upper deck would definetly have a lead pollution issue.

then the lower part of the development is actually a flood plain for the river. so they have been building up that side so it wont flood the houses. only problem is if you move the flood plain from one spot, you only cause the problem in another spot, which has then gone onto the flemington race course. Flemington this year have received funding to fix this problem on their side. so guess where the water will probably go? right back onto the houses at Edgewater. blocks on that lower deck have been selling for $600,000 plus i hope they know what they are in for.

mic