NSW Buying in Edmondson Park/Bardia

Obviously im not in your shoes.
On the face of it id agree with @hash_investor ...
rent to be close to them (plenty of family friendly houses in that area) and buy where there is cg (as you mention that is what you want).
Buying 2 plots together does not necessarily give you double the cg as one plot of land would - it could be more, could be less...Given that its in a cyclical downturn, id say it may not. I would think there are better cg making real estate investments even within sydney for that money.

 

Where in Sydney?

 

im not an expert on sydney..im sure there would be areas and property that would deliver better potential returns than this..700-750k im sure there is stuff. Id look for something closer in eg 2 bed apartments closer in, villas/townhouses closer in. eg homebush, etc.

 

What about Oran Park NSW 2570 ?
It is cheaper than Edmondsons and it is in Southwest growth area as well.

 

When you buy a new car, and try and sell it 2 years later, is it worth more ?

If market has peaked, and you buy new, it is not likely to go up, more likely to go down unless the land value continues to increase.

Your money, your choice, but if it is your home, short term gain should not be such a concern ?

 

Thanks all for insights

@JDP1 Not buying 2 lots for CG but staying closer .. nothing to do with CG
I am sure there will be areas with better returns potential but may be far off from ED Park where family will stay.
Also as @dabbler mentioned i can forgo short term gains but I am still BULLISH on long term gains as this area is in SW Growth Corridor ..although this story may be running for years now
But if in few years time we have airport and a high speed train to CBD things will definitely be excellent

I have done multiple Rent vs buy analysis but there are many variable which play in and cost of moving from 1 place is huge in terms of cost , broken goods , effort...

 

At the end of the day it comes down to what you want. If you want a PPOR for your family in the area you have mentioned then do it. But you should expect that you probably won't make any gains. In fact you might lose in the short term as values drop back on land and also the fact you're paying a premium for a brand new build. If you had plans for a portfolio as well, there is a chance this move will stall that as any equity on CG will not materialize in the short term assuming you want to use the equity to push you along.

As mentioned above the infra projects have already been factored into the prices of land in those new estates in the SW. So I personally wouldn't expect those projects to really be the drivers to growth. Again, this is only in the short term. Over time I do believe these areas will come good, but not anytime soon.

 

For me there is a bit too much of available land in that area to expect 10% CG in 2 years in the current market. Long term it might do well though. As others mentioned if you are keen on it for family reasons go for it. But don't bet on any short term CG.

 

One of my friends are building their PPOR there and the other friend is building at McArthur Heights. I think the latter will do a bit better as land supply is more limited and it's close to existing shopping centre which is being upgraded ($240 mil development), train station, uni, etc.

 

Just to understand -- we already have a train station in EDP , $1B towncenter to be constructed .. tender already done and school just walking distance. i am not trying to justfy EDP is better than McArthur Heights but what to understand why you think McArthur Heights will be better as I see EDP is near to existing station , towncenter will come future but yes UNI is missing...

any other reasons

 

I meant it will do better in terms of CG because of more limited supply of land and pretty much same already existing infrastructure plus UNI.

 

Also, if I remember correctly that entire area is rezoned for development of 35000 dwellings around EDP (including Leppington). Whereas it's only 850 houses planned for MacArthur Heights in an already established area. That amount of development in and around EDP is going to affect CGs. Just my thoughts.

 

Here is the link to check EDP and all surrounding areas that will be developed:

Edmondson Park

 

Agree with you but NSW govt is planning a lot of Jobs in Leppington. More than 70 Hectares is reserved for industry which means more jobs in Leppington. So i think it makes Leppington a better place as more jobs ...again anyone of us can be correct depending on how plans are excuted in next few years ..

 

Leppington job center is a plan, just a plan. Even if it executes well it will take another 40 years to really become what they want it to become... see where North Ryde and Bella Vista are

 

Yes thats right Plans and realty are 2 different things

 

How long ago since the plan was mentioned for North Ryde and the Norwest area back then ?

Which means this http://www.centraltoeveleigh.com.au/vision will also be a waiting list depending on the next Governemnt spending after the election ?

 

@aashish buy if you think it will be a good ppor, however as members mentioned, there maybe better places to invest.

 

@TFBoy Yes I agree better places to invest but if i want to live in a new house ( independent ) then i see this as value buying PPOR as I don't think we have any new houses in this price within 1 hour from CBD and walking distance to station.

If anyone has any option then please do sugesst

 

Brand new house and land, you cant go past south west sydney if you are on a budget or looking for value for money.

Comparables in nth west (ie Kellyville, even Marsden Park) will be closer to 900k-$1m.

@JDP1 welcome to Sydney