- CarolinaParticipant@carolinaJoin Date: 2015Post Count: 2
I’m a bit scared to take the plunge as property is so high .. I have been reading for 3 months and getting more confused. There seems so many places are available “everywhere” and new ones being pushed off the plan. It is like a frenzy out there for a newbie.
I’m thinking of buying my 1st investment property in Blacktown Sydney. I am from the inner city so I don’t know the outer west that well.
I have 550-600k and I am after a house/townhouse that will have growth and good yield-I need both. I’m concerned about oversupply as I know Sydney is in crazy building phase and property prices are still shooting up. Now, the guys I work with say when they start their families they will probably move to Blacktown-(mostly indian / phillipino IT professionals on good salaries). When looking at properties for sale you can still get a 3 bedder houses in Blacktown for this price range.
So my question is ..,
What are the best areas in Blacktown for houses? Or town houses
What are the best areas in Blacktown for flats (prefer a house though)
Is Blacktown a solid investment, or should I be looking elsewhere?
Are the neighbouring suburbs that are just as good.
BTW- forget about suggesting anywhere further away than Blacktown otherwise I will be divorced
Thanks heaps for any adviceCatalystParticipant@catalystJoin Date: 2008Post Count: 1,404
If you need both capital growth and yield Sydney is not the place to be buying into.
We are at the end of a boom which typically means very little (or even negative) growth for the next 5 years. Rents haven’t moved for a while, which is typical of cycles. Rents should begin to move in the next 12 months.
I have properties in Blacktown and they have doubled in price in the last 4 years.
If I was starting out I would look elsewhere or if you have to buy in Sydney wait a few years.
ajayayyarParticipant@ajayayyarJoin Date: 2005Post Count: 176
- This reply was modified 8 years, 3 months ago by Catalyst.
I think Western Sydney would be a good investment with future potential, given that many families are moving away from areas closer to Sydney due to the expensive prices. I also think that areas in Western Sydney (such as Blacktown) have good potential due to the infrastructure investment occurring in those areas – Western Sydney is becoming like a city on its own and with the likelihood of a new airport (Badgerys Creek) not too far away, this is likely to bring in additional jobs, additional roads/infrastructure, and therefore likely to drive prices up more. I think you are looking at a good area, I invested in Western Sydney myself (Penrith) early last year which has seen capital gains already.
- This reply was modified 8 years, 3 months ago by ajayayyar.