Make sure you take a road map or GPS with you, it's a maze... It's not really near anything, it's just a housing suburb next to South Windsor. It has an IGA and a few small shops.
Was initially keen to possibly go inner city 5-15km (not cbd because of high rise apartments) in small unit block, second hand, eg Ashfield, maybe Dulwich hill or summer hill. Maybe 1 bed or 2 bedroom. Realise the significant new unit being built with increase supply, and decreasing rental yield. Yet feels like over 20 years this may go up again and is less risky than going out west?? I am wary of buying in places where lots of high rises are, as lots of supply. but then we bought the residex top 100 predictions. In our price range, some of the more positive ones for units were meadowbank and Stanmore. This with high predictions -4star and capital gains. And for houses the residex also put places like Bligh park and mount Annan for houses. I get the increased interest in NW Sydney with train going in, and also good white collar work there. good vibe etc. But Bligh park seems too far from this new train link. It's closer to Windsor. not sure why it has such a high predictor. Would work well for our price range. But doesn’t seem as wise as say rouse hill or Stanhope etc. Also I have read in Somersoft that Bligh park was in residex in 2007, and 2013 http://somersoft.com/forums/showthread.php?t=94658. And it hasn't been doing as said. Not sure about mount Annan. The idea of a house in north west seems to have some sense but many median prices are out of our range
I have friends who used to live in Bligh Park, and a friend just bought a small house on a small block there. I'm a bit shocked it's on the Residex list to be honest... I think it's a nice area but it's way too far from the North West Rail Link to have any benefit, in my opinion. Pretty sure it has NBN in there at the moment, but everywhere will have NBN in a few years, so that's not really a massive changer. Maybe proximity to the Badgerys Creek Airport one day? No idea.
Hey Kael, Thanks for this. This is what my thinking was too. Couldn't undertows and why it was on the list. All the major works are not close. I am a first time buyer and am trying to work out what to do. Have just been recommended reading more wealth from residential property to read. I am from Sydney and so know it better than venturing to say Brisbane, but Sydney appears to be at th end of the cycle?
Exactly. But it'll still be closer then other places, but you're right - so why is it on this Residex report? Haha I'm sure there are many others on this forum who can provide better advice then I, but IMO the Sydney market is still in a peak and values won't stop growing for at least another year or so. If you're not looking for the FHB grant, why not maybe look at investing and then renting yourself?
Thanks Kael We have our own place at present. For personal reasons probably hard to rent out. But a good concept.
@Seal Not sure why bligh park keep popping up. Investors can look at vineyard... Pro; Train station Closer to kellyville/ponds area. can still pick up R3 zoned Blocks.. Only con is; Expect to pay for hefty contribution cost per block.
Not everyones looking for development blocks @Be Developer Bligh Park was cheap when that report came out.. Its not far from Rouse Hill, Box Hill where there is a lot of jobs being created and the NW business park is close too.. See if you can find a duplex under 400k there. When I was looking last yr there were a couple under 360k. Detached housing will be closer to 500k if not higher
Holy moly just looked at RE.com. Detached houses there are 600k now..it's moved A LOT in 6 months when there were houses for 450-475k
Bligh Park isn't far from Rouse Hill, yeah, but Rouse Hill is still a good 15 minutes from the NW Business Park. NW Business Park is good (I work down the road from it) but the traffic is intense there and, depending where you work in there, can add up to 30 minutes to your travel time just to get inside. What block size? Friend of mine just bought something in Bligh Park for low $400k area.
Rouse Hill is in this great position atm where it's right next to Box Hill which will be a business park. It'll be 10 mins from Marsden Park business park once Schofields rd is sorted, not far from Norwest business park, and not far from Castle Hill, so it's quite central to the business parks. The price reflects it though. A new hospital will be in the Rouse Hill area too. But yeah as you said the traffic is quite poor around those areas atm. They are widening a few roads and adding a motorway around there (but that'll take a while). I see Bligh Park in a good position if you don't mind living further out and have jobs in one of those business parks. For city workers it's just way too far.
I agree with you about the Business Parks - the Marsden Park Business Park is a great example. But how long has it taken for it to come to fruition? (and that is with a proactive, development friendly State Government). After reading what you mentioned, perhaps it could be a long-term growth area. You highlighted some good reasons.
And to answer your previous qst. The block sizes for 600k homes were around the 450-500sqm mark. It seems a bit overpriced for being at the edge of Sydney ay.
I see what you mean 0_0 I just did a search on re.com.au and almost everything < $600k is under contract. Wow.
