KNOWING OUR NEIGHBORHOOD – PAKENHAM, VIC 3810 PART 1.
By Jade Nicholson
When it comes to getting the best rental return from your investment, we look at a lot more than just the size of the home. We look at the whole suburb, Pakenham as a suburb covers a huge amount of land with “old” Pakenham and “new “Pakenham, then don’t forget about Pakenham East.
Where is Pakenham East you ask?
This is a suburb within a suburb and I haven’t even touched on Upper Pakenham and Pakenham South yet this will feature in future blogs. I would describe Pakenham East as the heart of Pakenham or the town center. Pakenham East is when “old” Pakenham and “new” Pakenham meet, a perfect example is the Ascot Estate anyone who has lived in Pakenham would remember this site as the Pakenham Racecourse back in the day.
The Ascot Estate is well underway with construction, with an abundance of diversity with all types of homes. Two story homes, 4 bedroom homes, 3 bedroom homes, units, townhouses you name it this estate has it all. Location is the key feature of this estate as it is part of the town center, minutes away from Main St, the local market place, and walking distance to the train station. Ascot Estate would be the closest “Inner City” lifestyle Pakenham has to offer.
But as Pakenham is renowned for being recognised an area for families, as reported the REA https://www.realestate.com.au/neighbourhoods/pakenham-3810-vic some families don’t fit the lifestyle Ascot Estate has to offer and head ten minutes away to the Cardinia Lakes or Cardinia Views Estate, where land is a little bigger, streets are a little wider and homes are a little bigger.
Cardinia Lakes and Cardinia Views are same same but different, Cardinia Lakes is slightly more established with its very own Coles and a variety of small businesses to shop at, a mixture of homes and townhouses. The main entrance into Cardinia Lakes is Windermere Blvd, but if you drive only minutes into the estate and turn down Superior Waters you see the estate change ever so slightly as you pass the Eastone Reserve this is an indication you are now in Cardinia Views Estate and just like that we have a whole new community.
So let’s get to the facts of what rent we are getting in the many different areas of Pakenham.
As REA have reported in the suburb profile average rent in Pakenham is $355 per week, three bedroom home rents an average of $340 per week and a four bedroom home rents for an average of $380 per week https://www.realestate.com.au/neighbourhoods/pakenham-3810-vic
I can tell you we have achieved very different numbers from this report.
Let’s start with the Ascot Estate we have leased six, three bedroom homes in the Ascot Estate for $365.00 per week. We have also seen existing properties in the last twelve months increase with the market, a four bedroom home has a return of $385 per week.
Now to look at Cardinia Views, this is most certainly a hot spot in my opinion we have leased three properties, all four bedroom new homes on large blocks for a $420 per week.
I hope when you read through this you can see that I have only covered a small proportion of Pakenham but we have an abundance of knowledge of all the intricate areas of Pakenham, some may say we are pretty passionate about Pakenham as we see BIG things are on the horizon for this suburb.
For more information please contact me directly on 1300 900 182 or email firstname.lastname@example.org