2/25 Westwood Drive, Bulleen, Melbourne


This property is located in a quiet part of Bulleen, which is approximately 14km north east of Melbourne’s CBD. It is a peaceful and quiet residential suburb.Front of house and double garage

What I like about this property and suburb:

  1. Strategically located just north of the Eastern Freeway via Bulleen road, this property is secluded and yet merely 20 minutes to the city by car. It is also a short drive from Doncaster’s retail and commercial centre via Manningham road.
  2. The backyard has a favourable north east aspect.
  3. Living areas are spacious with open concept kitchen and dining flowing onto the verandah.

Drawbacks:

  1. This property is one of two properties sub-divided from a single piece of land holding.
  2. Master bedroom does not have an ensuite and shares a common bathroom and single wash basin. The powder room does not have a wash basin for guests although this can be rectified by possibly extending and renovating this room.

The council and water rates for this property are $900 per annum and $130 per annum respectively.

Last words

Great residential location with easy access to the city, east and north west Melbourne. Great buy at around mid $500k’s.

 

Vital statistics ~ Bulleen, Melbourne

Median house price $640,000

Average annual growth 13.1%

5-year growth 56%

Weekly median advertised rent $380

Gross yield 3.1%

Source: Your Investment Property, April 2009

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How it’s calculated:

Median price: Median price for the 12 months to December 2008

Average annual growth: Average percentage change over the past 10 years as a per annum figure

5-year growth: Median price percentage change over the past 5 years to December 2008

Weekly median advertised rent: Median price of rental listings for the 12 months to December 2008

Gross yield: Estimated rental return, based on advertised rent to median price


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