NSW 2770

First time poster,
PPOR & x3 IPs (2 in the last 12 months in 2760).

Anyone bought recent investments in Mt Druitt (Aka Mt Druie)?

Probably has been discussed but couldn't find any recent posts, in two minds whether the growth is there compared to risk and issues that are likely to arise surrounding IPs.

I went to an open home yesterday at Lethbridge Park, 430k asking price with a 340/wk return, been on the market few weeks, not much interest in it. Properties with this price range usually get snapped up quickly. This one is right next to housing commission unit block which is no surprise why its still on the market.

Thoughts regarding 2770 would be appreciated!

 

Check out @skater's thread

 

Thanks, yes ive read that thread, a good flip definitely

 

Seems some properties are still lingering in the Druitt. Chemicals lingering on internal walls might be a contributing factor.

But you'll notice the median price out there is on the up.

That particular house which is going for 430K looks familiar. I'm pretty sure I crashed out on its front lawn early one Saturday morning.

Don't recall the grass being so lush green though. Might be touched up.

 

Datto, thanks for the response. Are you really from Mt Druitt? If so, I grew up in Colyton, ive done 2 renos there in the past year and my parents still live there.

I keep chaging my mind about investing in Mt Druitt surrounds, old Mt Druitt is too pricey, to me the bargains are in Lethbridge Park, certain parts of Tregear, Whalan and Hebersham

 

Yeah, well my roots go back a long way in Mt Druitt where a relo once had acres on the GW Highway. I know Colyton. The hotel. The "Green House" which is now grey.

I used to be a regular at the Emerton Aquatic Centre and the KFC across the road.

Those suburbs you mention certainly are the bargain areas. I like any large blocks. Actually there was a large battleaxe block in Colyton I was once interested in, about 1800 sqm I think.

 

Have you moved upmarket since the Druie is now 'out there'?

@datto - someone questioning your pedigree

 

Good knowledge of the area!
I did move to Kiama back in the early 2010s but that didn't last long, moved back to Colyton and now live in Penrith.
I wonder where that 100sqm block was, remember the street name?

 

I remember it was a culdesac with an old house. About 5 years ago and it was going for a song. I'll have to research. This will bug me all night till I find it.

 

Im actually really interested to see where this property was. Possibly been developed since, sorry for being a nuisance

 

Was it Astwood or Cassandra?

 

What do you think of Colyton?

In my opinion for the price (from around 10% extra) a lot better value and nicer than the ex housing commission suburbs of 2770.

 

There's two recent ones.

 

I'd hate to get in to @Bargain Hunter's bad books by telling the OP to check out your threads

 

Better than Mt Druitt satellite suburbs ATM but things could change.

 

I definitely think much better overall value. Great investment option due to size of most blocks, great tenants usually, plenty of local schools. Could always make an investment here a PPOR, you wouldn’t want to necessarily live in mt Druitt satellite suburb investment if something goes wrong. Just my opinion

 

No. From memory it was a small culdesac and definitely a battleaxe block. Narrow driveway that was about 30/40 metres long which opened up to a massive irregular block with quite a few trees and shrubs.

I checked sold properties of large blocks in Colyton but I couldn't see it. Then I remember it was withdrawn from market.

This is a mystery. I'm baffled.

 

You have a fading memory, it was in Colyton back in the day, then they built the F4 and severed Colyton. The block is prolly in upmarket St Clair.

 

Just googled my old block in the Druitt, still looks the same. My info shows the block next door sold in 2018 for a shade over $2m. I should've put 3 sheds on the site and held on to it.