Hello all,
We have just secured 3 properties in Cambelltown for well under 300k each which we intent to get a DA and on sell the project.
Brisbane and Melbourne prices are now dearer than the west in Sydney and we think its time to re enter this market … what do you think??
D
I don't think you should ever compare Sydney to Melb or Brissy. I know it's done all the time, but I'm not going to invest in Melb because someone says Sydney is more expensive and vice versa. I will look at it on an absolutely local level.
Totally different locations.
As we all know, real estate functions both on a macro level and a minor level.
Is Cambelltown and up and comer?Campbelltown is no longer the outer suburbs of Sydney and the prices are more then a few years ago.
I have not looked into it recently but Sydney over all is struggling along.I own two properties in Campbelltown. Prices went up and down and up again. You have to watch it to who you rent in Campbelltown since there is a good proportion of housing commission houses and tenants doing the rounds and the runs. The agents in Campbelltown are the pits, avoid large rental property portfolios like the plague. Look for the small family affair agent and then watch them very closely.
If you are looking at Sydney market, don't get hung up on suburbs as if Campbelltown is better than Marrickville or Bankstown or Manly. At the moment ( been so for a while and will stay so for a while) Sydney market is an opportunity market and as such you may find a cheap waterfront property and an expensive Campbelltown property. You have to find the person that MUST sell in this market. That is the opportunity not this or that suburb.
As for development in residential….with no growth, I don't know how many will go for a property just because of DA approval.
If you are talking about converting a residential to a commercial then, yes, that is real good.Hi for all those who have invested in Campbelltown , i've been looking into it briefly what areas should i be looking at and what areas should i be running from (where are all the housing commision houses) and can anyone tell me of a good agent to help me find a good IP in campbelltown and also a property manager to help me look after the place, lastly what kind of yeilds and returns are you guys getting with the campbelltown IPs? Thanks guys for the valuable info.
Hi young investor.
Some time ago I took up cooking. I really enjoy it and the people I cook for think I am a real chef. Go figure.
What I noted as soon as I started, was that even if I followed the recipe to the letter, using a scale and accurate measurements, the end result was slightly different every time. Some times even very different.
So I realized that I have to actually learn to cook. To do this I had to investigate what the ingredient do and how they act and interact to produce what I want. I am getting real good at Balti chicken, a form of light curry chicken and malfatti. A real chef told me I have to do the same recipe 20 times to learn it….but anyway, that is not what you asked.However I suggest you research where the housing commission palces are. It is public domain and will teach you how to research this for the next suburb you want to look up. As for the agents and PM they are like my cooking recipe. They results are erratic and don't follow any particualr pattern. You must learn to use them by yourself. I'll give you one advise. Use plenty of acid (lemon juice) when you deal with them.
Sydney on the whole is holding steady but i expect over the next two years it should ramp up to some good growth. There are areas which are booming (of sorts) in the lower north shore, such as north ryde, macquarie park, epping, lane cove west due to the new rail line. Inner west should continue above avg growth compared to the rest of Sydney but there are still better oppurtunites interstate. There are some great oppurtunities to pickup some mortgagee sales in the granville / bankstown / padstow and south sydney areas if you want to invest in what people look to be the dreg areas (high crime rate / bad name areas) bordering the inner west. I still think we are another year to a year and a half before we see good movement, but now wouldn't be a bad time to invest! Investers are just starting to jump back into the market now and its showing good improvements across the board including clearance rates, and with such a low vacancy rates yields (if not already) should start pushing closer to the 5-6% mark in the better areas.
Don't be scared of the last boom people! Sydney has always lead market prices in australia, and as other states get closer it's only inevitable that the growth cycle will return to this city i love
Hmm, Stumunro you say that some areas over the next 2 year will show good growth, what regions(not subrurbs) do you think will take slightly longer(i would prefer western, cheaper,200-250K properties) to get some growth going, as i will not be in the property market in such a short time as you have mentioned.
Chris.
I live in Sydney Hills area and noticed a lot of houses up for sale. One 3bdroom next to TAFE has been on the market for nearly 3 months and the advertised selling price has come down by 20k. It still hasn't been sold. Houses here are generally nearly half a million and rent is only in the mid 300s range. The yield is better in Brisbane. I believe there are some good opportunities in this market but requires more work than say, in the Brisbane market.
Hills district is one of the hardest areas for sales in Sydney at the moment. Castle Hill is THE worst suburb in sydney for clearance rates, the prices are quite steep, especially when you can go 10-15 mins west / south and get some new houses there for alot cheaper. With Sydney the Hills area use to be where people would move out to so called 'suburbia', a place away from the city. This drove prices quite steady in the last boom, probably even too far, which is why we have seen a little correction in the area in the last few years.
In todays age, it is quite acceptable to move your family out to blacktown and penrith and this has left the hills district somewhere in the middle. Its not that close to the city that it has great convenience in location, and anyone choosing to live out west would rather make a value purchase in the cheaper suburbs surrounding it.It's hard to say Chris, there are and will still continue to be some good buying opportunities all over Sydney in the next year or two but there is still a major affordability issue we have to get over first. Definitely worth re-evaluating the situation when you are ready to purchase, as it is impossible to say for sure where we will be in say 3 or 4 years.
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