melbourne house sales slump by 44 percent, page-32

Burnett - Agree totally. I'm a Born & Bred Sth East boy and currently live in Rowville and absolutely love it. However, I want to build some income producing Assets in the near future as I'm about to turn 30 and my research tells me that St Albans might be a good punt as its still cheap and pretty close to the City, infact much closer in peak hours compared to the Sth East. I currently work in Sth Melb and trust me, it aint nice spending anywhere between 60-90min One Way every single day. When I stay at my partners house in St Albans, it takes me between 30-40min, massive difference. However, there's advantages and disadvantages in both and there's no doubt St Albans is a FERAL area compared to the Sth East and I would NOT want to bring my kids up in that area and will not do so. My theory moving forward is I will buy most likely my partners parents house for about $300k, pay it off in max 5 years and then use that equity to move to Chaddy which is where we both want to live and bring our family up in. We'll then rent out St Albans to help us pay Chaddy off and also in the future also sub-divide and buy another one at the back.

That's the plan anyway!!!