Hillsdale / Eastlakes

Hi,

First time poster but long time viewer of this forum.

I've recently had a loan approved and am looking at my options. I was initially planning to grab something around the Liverpool/Bankstown area in Sydney but have since decided to try to pick an apartment up closer to the Sydney CBD.

My purchase will be for investment purposes and I'm looking for capital growth. Considering I won't be living there, I'm looking at around the Hillsdale/Eastlakes area. Less than 8km from the CBD, you can pick up a 2 bedroom apartment there for $650k which is low in the current market.

Is there any real reason why this area isn't as expensive as it's neighbouring suburbs? I understand from past threads there is some housing commission through there but I'm not sure why it's so far behind in terms of pricing. Does anyone have some feedback and thoughts on buying there as an investment?

My alternate option is to pick something up in Petersham/ Summer Hill/ Dulwich Hill area.

All feedback is appreciated.

 

Inner west has already seen prices rise due to the light rail system. Inner east however the ripples haven't been felt other than up to Kensington or Kingsford.

 

EastLakes is still a 2km walk from the last stop of the light rail.

Will the benefit ripple through to there or is it a little too far?

 

800m is generally the walking distance from a heavy rail station and probably slightly less for light rail but if there's a perceived improvement to transport ie bus takes 40 min vs bus/light rail @30 min it may well catch on.

 

Areas of Eastlakes are under the flight path, I believe the location is good and this area will clean up over time. I used to work around here years ago and it was very run down and tired. Always rubbish and council clean up junk on the streets with housing commission and lots of old unit blocks there.

Kensington and Mascot are nearby and have both picked up well. Transport is by Bus and it can be absolute nightmare around Rosebery etc.

Dont want to scare you off however theres a few things consider, there is huge development at pagewood where I used to work a lot of units going up so just also keep that in mind. If its a long termer and you got the right place you could come out well IMO. A house would be great.