Just saw a thread for Perth – where to invest which was very informative; would like to throw the same challenge for Sydney.
Any takers?
I’ll start; am looking at Penrith region.
lee
Why Penrith?
We are all made from Stars
Question for Sydney is when, not where.
Originally posted by Bionic Beer Gut:Why Penrith?
It should be a high growth area.. check the building approvals for it
It will probably be heading in the same direction as Parramatta. These areas are doing well mainly because most people can’t afford houses closer to the CBD and they’re basically satellite cities with all the conveniences you need.iwsctws, the answer to your question relies on your budget too
I’m looking at purchasing my 3rd property within the next few months. The areas I’m looking into include Redfern and the suburbs between Newtown and Stanmore.why not wollongong
same (roughly) distance/time to cbd as penrith, yet you have the benefit of some great beaches and views
why not wollongong
same (roughly) distance/time to cbd as penrith, yet you have the benefit of some great beaches and views
Thanks for the replies….seems everyone is holding their cards close….alternatively they think Sydney is not worth buying at the moment??
Newgen, i like Redfern myself (and Surry Hills) but with my budget of 250K, am probably looking at a hole….
What can i get in Wollongong, i wonder????
lee
depends on what you are looking for and how much you are willing to pay for and what sort of rent you are wanting??
Sounds like you know Wollongong very well, what’s the popularity of apartments like? Are they easily rented out? (and we are not talking about holiday rentals either).
i’ve got 200-250K to invest.
Cheers!
lee
I live there/here.
Lots of apartments/units going up – in the price range of 350k up tho.
There are older units around the 200-250 market.
The uni students are a big market here. More and more people are commuting to sydney as well.
Like all places there are some good and bad places to invest.
My humble opinion, if you were going to go for apartment/unit, get one close to the uni, they rent out easily.
There are a lot of places to rent, but if it is priced right and is in good condition, then you wont have any issue in renting it out.
Gee, thanks!
Wollongong ah ! Me thinks you live in a beautiful part of NSW; wouldn’t mind living there myself if not for the long commute to Sydney….
Nothing beats local knowledge; but at 350K a pop, sounds like Syndey prices to me…
Cheers!
lee
they are the new ones and plenty are going up
show me a unit in sydney that is 2 minutes walk from the beach and 5 minutes walk to the cbd that is 350k lol
Blue Mountains is going to fly
We are all made from Stars
Dear Bionic Beer Gut,
May sound like a silly question but gonna ask anyhow; Blue Mountain folks; where do they commute to work (seeing there isn’t much work up the mountain???) COuld it be (spluttter !!!) Penrith????
lee
Dear Bionic Beer Gut,
May sound like a silly question but gonna ask anyhow; Blue Mountain folks; where do they commute to work (seeing there isn’t much work up the mountain???) COuld it be (spluttter !!!) Penrith????
lee
Originally posted by iwsctws:Dear Bionic Beer Gut,
May sound like a silly question but gonna ask anyhow; Blue Mountain folks; where do they commute to work (seeing there isn’t much work up the mountain???) COuld it be (spluttter !!!) Penrith????
lee
Most work in the city, my folks live at Lapstone which is the first town as you enter the Blue Mountains. Reasons to live there? 3 Stops to Sydney by train (50 min) 2 min walk to station (most platforms are close and handy in BM) cheaper insurance etc due to country rates.
No scum! Fresh air, fantastic TV reception and we get to watch the city people suck smog from our verhanda’s![blink]
We are all made from Stars
Originally posted by iwsctws:Dear Bionic Beer Gut,
May sound like a silly question but gonna ask anyhow; Blue Mountain folks; where do they commute to work (seeing there isn’t much work up the mountain???) COuld it be (spluttter !!!) Penrith????
lee
If you think Penrith is busting at the seams for jobs then check australian job search, it aint the greatest and I dont understand how you would make the assumption that mountain people would want to work in Penrith? There are a lot of high profile people who live there and dont neccessarily need to work in such an area due to ease of transportation.
It can take less time to get to central from the mountains than what it takes from Liverpool or Castle Hill etc
Its a sleeper, forget Penrith
We are all made from Stars
It will probably be heading in the same direction as Parramatta. These areas are doing well mainly because most people can’t afford houses closer to the CBD and they’re basically satellite cities with all the conveniences you need.
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