Forums / Property Investing / Help Needed! / good suburb bad suburb

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  • Profile photo of cashpoorcashpoor
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    @cashpoor
    Join Date: 2004
    Post Count: 22

    Hi to all,
    I am a Qld investor & would like a list of the suburbs to stay out of in Sydney & Melbourne.
    A example in Brisbane would be Goonda,Wacol,Gailes.
    Thank you for your help.
    Regards
    Cashpoor

    Profile photo of Robbie BRobbie B
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    @robbie-b
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    Post Count: 2,493

    In Sydney…

    Stay away from inner city and surrounding suburbs.

    Robert Bou-Hamdan
    Mortgage Adviser

    http://www.mortgagepackaging.com.au

    Investor Links

    Profile photo of diclemdiclem
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    @diclem
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    Post Count: 537

    Hi Cashpoor,
    I don’t know what you mean about suburbs to stay out of….
    I guess you might mean low-income areas?
    I honestly can’t think of a suburb of Melb that I wouldn’t invest in based purely on its reputation.
    I might not want to live in some suburbs, but investing is a different thing.
    After running my own business for a number of years, I’ll let you in on a personal observation…..
    The people who appear to have the least money, are the ones more likely to pay you.

    Cheers,
    Sue [biggrin]

    “Be careful not to step on the flowers when you’re reaching for the stars”

    Profile photo of neo25x5neo25x5
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    @neo25x5
    Join Date: 2005
    Post Count: 166

    well said sue! How very true that remark is!

    Cashpoor, by what criteria are wanting to exclude suburbs???

    Eric

    Profile photo of cashpoorcashpoor
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    @cashpoor
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    Thanks for the replys.
    The criteria for excluding suburbs is high crime &/or problem tennents.Example would be riots in Macquire Fields in Sydney.
    Thank you for your help.
    Regards
    Cashpoor

    Profile photo of Nigel KibelNigel Kibel
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    @nigel-kibel
    Join Date: 2005
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    Hi Cashpoor

    I find that you have to look at all deals on there merits however I would stay away from the city and docklands and southbank. I think in time docklands will be good however presently its a construction site. You will not buy positive cashflow in Melbourne. However if you want a sold investment look to suburbs like st kilda and elwood and buy art deco apartments. You are looking at around $350,000 for a good one. Middle ring suburbs are also good such as Hawthorn Camberwell ect. If you are after positive cashflow your best bet is New Zealand. This will enable you to establish a separate income stream

    Nigel Kibel

    http://www.propertyknowhow.com.au

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    Profile photo of Robbie BRobbie B
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    @robbie-b
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    Originally posted by cashpoor:

    Thanks for the replys.
    The criteria for excluding suburbs is high crime &/or problem tennents.Example would be riots in Macquire Fields in Sydney.
    Thank you for your help.
    Regards
    Cashpoor

    Potentially a great medium to long term investment as current prices drop to below market levels. Crime can be cleaned up very quickly but property lasts forever.

    The worst area in Inner Sydney is Redfern yet prices in this and surrounding areas are still fairly high. They even call the area ‘The Golden Triangle’ regarding townhoues, houses, etc and excluding units.

    There are deals everywhere.

    Robert Bou-Hamdan
    Mortgage Adviser

    http://www.mortgagepackaging.com.au

    Investor Links

    Profile photo of kay henrykay henry
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    @kay-henry
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    I live right near redfern and it’s a fabulous area- for me. It’s between two Universities- University of Sydney and UTS, has thousands of students living in the area (always a massive source of tenancies), with thousands of new International students coming every year that need accommodation.

    The cafe culture around here is excellent, and the community pretty much knows each other on a first name basis. It’s also very multicultural- and that’s important- to me- because I can’t live in bland areas.

    It all depends on what you’re looking for.

    kay henry

    Profile photo of Robbie BRobbie B
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    The Macquarie Fields comment also reminds me of Campbelltown which has the highest crime rate in Sydney and a huge housing commission population. The property prices in this area went up exponentially in recent years mainly as a result of the M5 tollway being completed.

    For every negative feature, there is usually a positive to be found.

    Robert Bou-Hamdan
    Mortgage Adviser

    http://www.mortgagepackaging.com.au

    Investor Links

    Profile photo of AjaxAjax
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    @ajax
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    To write off Redfern as a good place to invest would be a big mistake.

    I bought here (East Redfern) in 1993 for $165k now worth $500k+. NSW govt. to spend $5bn in next 10 years on this area demolishing old housing commission towers/joint venturing with private developers to build mixed public/private housing and constructing road tunnels. The Redfern-Waterloo authority headed by Frank Sartor (similar to Darling Harbour authority) has been established by Act of NSW parliament.The authority will have wide ranging powers and can circumvents local govt regulations and Heritage Act provisions.

    I firmly believe Redfern will be the next Paddington, it will just take time.

    Some peolpe don’t know the area very well and are blinded by stereotypes such as crime/social problems in certain areas).

    Redfern runs from South Dowling Street in the east to close to Abercrombie street in the west. This is a huge area-not all houses are like what you can find in Everleigh Street. Have a drive down Kepos or Baptist Streets in East Redfern or Pitt Street or Great Buckingham Street and you’ll see what I mean. I wouldn’t drive down Everleigh Street though (unless you had a Humvee).

    Ajax

    Profile photo of Robbie BRobbie B
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    Since when did East Redfern become a suburb? That reminds me of the old days when residents called their suburb Bondi Heights to try and give it some exclusivity. I always asked them – “Oh, do you live on the steep hills of Bondi?”. They never liked this question.

    Robert Bou-Hamdan
    Mortgage Adviser

    http://www.mortgagepackaging.com.au

    Investor Links

    Profile photo of Just LearningJust Learning
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    @just-learning
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    “Bondi Heights to try and give it some exclusivity. I always asked them – “Oh, do you live on the steep hills of Bondi?”. They never liked this question.”

    lol, at that comment because it hits “home”.You will appreciate this because “I know where you live” (picked that up from a public post you made here or somwhere else), but I tongue in cheek tell people I live in Coogee Heights.(Differentiates where I live from the backpackers, CBH etc….), lol

    To the topic… suburbs to avoid is really a big qustion. “everyone” says avoid inner city apartments, but I have one in Surry Hills returing close to 5.0% gross. Not cash flow +ve, but that sort of yield is hard to get in Sydney.

    My investment telescope is focussed on the northern NSW coastal area ie north of Newcastle.In Sydney, can only comment on my local area and I really couldn’t see people losing out by looking at Maroubra/Randwick/Kennsington/Kingsford – alot of units for sale, but demand will always be there. I must be getting desensitised to pricing, but when I see a 1 bedder for $290- $350K, I think gee that sounds cheap.

    regards,

    Paul

    Profile photo of Robbie BRobbie B
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    I am so over Coogee. I call it ‘The Mini UK’ as a result of all the English, Irish and Scottish that hang around. You have to love the songs on their way home at 3 am or the bins flying and cars being kicked if their team loses in the soccer. How about the shop windows being smashed if they don’t find a girl to take home that night???

    By the way, we are on Coogee Bay Road just up from the CBH and on the preferred route of the Coogee RSL locals on their way to the CBH. It cannot get any worse. Fight night at the RSL is just trouble personified. The Lakemba and Campsie boys come in their droves.

    I am considering moving into a high-rise unit in the inner city. I will make my decision soon when I determine which job I will take but anywhere will be better than Coogee for me.

    I was recently told by a policeman that Coogee had one of the highest break into vehicle rates of anywhere in Australia.

    I guess there is good and bad everywhere.

    Robert Bou-Hamdan
    Mortgage Adviser

    http://www.mortgagepackaging.com.au

    Investor Links

    Profile photo of mjamja
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    @mja
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    Originally posted by cashpoor:

    Thanks for the replys.
    The criteria for excluding suburbs is high crime &/or problem tennents.Example would be riots in Macquire Fields in Sydney.
    Thank you for your help.
    Regards
    Cashpoor

    There is a very high percentage of public housing out there…

    — M.

    Profile photo of FluffyFluffy
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    @fluffy
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    Hi Cashpoor,

    I grew up in Sydney and below I have listed some area’s I think you may be talking about. For the record though I wish to add that although they didnt quiet have a good name it doesn’t mean you won’t make money, but I certainly understand you wish to be informed about the suburbs that may have a bad reputation (or used to) so here goes….

    Campbelltown
    Cabramatta
    St Mary’s
    Mt Druitt
    Blacktown

    They would be the main ones anyway, although they have still gone up in prices over the last 5 yrs but where hasn’t hey!

    Hope this helps.
    [blush2]

    Cheers
    Fluffy :-)

    Profile photo of lonnielonnie
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    @lonnie
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    The suburbs you listed in Brisbane to stay away from are, in my opinon good suburbs to look at for investment properties. One persons trash is another persons treasure. Look at the returns on the deal .

    Profile photo of FluffyFluffy
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    @fluffy
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    Actually, I meant to ask why to stay away from those suburbs in Brisbane? I am currently looking at the Brissy area. Can you tell me more about those suburbs.

    Interested to hear from Lonnie and Cashpoor and anyone else!

    Cheers
    Fluffy :-)

    Profile photo of Just LearningJust Learning
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    @just-learning
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    Quote:
    Originally posted by The Mortgage Adviser:

    I am so over Coogee. I call it ‘The Mini UK’ as a result of all the English, Irish and Scottish that hang around. You have to love the songs on their way home at 3 am or the bins flying and cars being kicked if their team loses in the soccer. How about the shop windows being smashed if they don’t find a girl to take home that night???

    By the way, we are on Coogee Bay Road just up from the CBH and on the preferred route of the Coogee RSL locals on their way to the CBH. It cannot get any worse. Fight night at the RSL is just trouble personified. The Lakemba and Campsie boys come in their droves.

    I am considering moving into a high-rise unit in the inner city. I will make my decision soon when I determine which job I will take but anywhere will be better than Coogee for me.

    I was recently told by a policeman that Coogee had one of the highest break into vehicle rates of anywhere in Australia.

    I guess there is good and bad everywhere.

    Robert Bou-Hamdan
    Mortgage Adviser

    http://www.mortgagepackaging.com.au

    Investor Links

    [/quote

    That was exactly my point, if you ask me where would you want to live if money wasn’t part of the equation – at the moment and for the last 12 years, where I live in Coogee NSW. – except if I had a lazy $20m to spare, harbour front in Point Piper would be good , lol.

    My point ? – Robert and I live in the same suburb, have totally different outlooks, even within 1 suburb there are different nuances – i think it all comes back to understanding the area you are buying in.

    Profile photo of Robbie BRobbie B
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    @robbie-b
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    My ideal place to live, and hopefully it will happen in about two years, is on a 40 foot sailing catamaran cruising wherever I feel like it. If I get sick of the view, I just have to pull up anchor and move on.

    As long as I have access to satellite internet and phone connectivity and a cashflow solid enough to maintain the boat and lifestyle, I am set.

    It would be a great office to entertain clients.

    Robert Bou-Hamdan
    Mortgage Adviser

    http://www.mortgagepackaging.com.au

    Investor Links

    Profile photo of Just LearningJust Learning
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    @just-learning
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    Post Count: 57

    When you get there can I be your p.a
    Seriously, apart from the negatives you have experienced in Coogee, where else in Sydney can you go, if on a Tueday night at 9pm you need 1kg of Roma Tomatoes. Not that, that happens every Tuesday night, but contrast that to an experience I had going to a Sunday lunch BBQ whatever somewhere in the backstreets of St Ives. Running late, as usual, bundled 3 kids into the car, “thinks to self – need to byo liquor – do that “over there” – has visa, passport, toll money – lets go” – pay $4 for privellege of going to north shore – arrive somewhere in St Ives boonies – need to buy bottle of wine at 11.00am on sunday – ask host ? — well umm… if you go down this road for 4km and turn right and go for 2km… ? – and this in one of the most exclusive suburbs ( ie expensive) in Sydney (ie the most expensive city in Australia)-

    If your are looking for a pulse don’t visit the north shore of Sydney on a Sunday

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