The most popular place to be: Investing in Point Cook
In an ongoing series of Melbourne suburb profiles, Jeff Grochowski from Accrue Real Estate discusses the lifestyle and property investment potential of Point Cook.
Topping the 2017 list of most popular suburbs for house sales, Point Cook is an outer suburb still growing through land release and development. The Central Flying School opened at Point Cook in 1914 – this went on to become the home of the the Australian Flying Corps and the Royal Australian Air Force, the second oldest air force in the world. A museum is now located at this site. Later growth occurred after World War 1 when the area was used as market gardens. Major growth did not occur until the 1990’s; this development continues.
The great thing about this rapid development is that is has also included the development of facilities to make Point Cook a great place for families and singles. New schools and new shopping precincts have been added to the area without the loss of the parks and reserves that provide the suburb with the community and country feel.
Key to Point Cook’s growth is the freeway that provides easy access to the CDB, which is only 26kms away. The suburb is also close to Altona Beach and Werribee Plaza but it also has its own coastal park and neat local shopping hub. This means Point Cook can offer a modern lifestyle for singles and families.
Being a newer suburb, the architecture is mainly contemporary but the range of styles is diverse enough to suit any taste. There are a number of schools, both primary and secondary, allowing families plenty of choice.
With the median price for a 2-bedroom unit under $380,000 and a 3-bedroom unit at $4735,000*, Point Cook represents a great place for investment. The continued interest in the area is likely to keep rental demand high and provide a diversity of tenant.
With its lifestyle options and development potential, Point Cook could be the place for your next investment.
Contact Accrue Real Estate to learn more about Point Cook and other Melbourne property investment opportunities.
*realestate.com, updated April 23rd, 2018.
Image attribution: Point Cook - This image was originally posted to Flickr by Rexness at https://flickr.com/photos/25287507@N02/5092058664