NSW IP House Far West Syd VS Townhouse West Syd

It's not exactly one size fits all. We all come to the party with different incomes, savings, goals, number of dependants, ages and experience. What works for one person, may not be right for another.

So, the answer to your question is a definite "It depends"

 

Who knows?
Do you think its a tradeoff between yield and cg?
Do you believe in cg?
Do you have enough other income to live on if the property is cashflow negative? Whats the limit of that? How much are you willing to be negative by in exchange for uncertain cg?

 

St Mary's would be the wise choice depending on its location. Its a area where you want to own a house needing work in a better street than a better house in a bad street.
Land appreciates better than other forms of property.

 

i have a townhouse in Guildford West and recently it took a while to rent it out. I also have a house at Colyton and that rented out quite quickly earlier this year. I've had both for well over 10 years, bought for similar prices, and they seem to have grown similarly, each worth mid 600s now. The yield is higher at Guildford.
There seems to be a mad scramble for houses in outer west/south west at the moment. I'm not seeing such hype for strata properties. If you are super keen to buy now, go to a few opens and see how many people are there and what prices are being achieved vs asking price. If one area seems less hot, maybe that's the one to buy in. The highest risk at the moment seems to be overpaying and having to wait a while to see any equity uplift.

 

Yep! I'm seeing a lot of hype on the forum at the moment about St Marys, and while I agree that it's got a lot of upside to it, there's plenty of other suburbs in the vicinity that will do just as well. I'm not sure how much of this hype is echoed outside of this forum, but don't overlook other suburbs based on a couple of very loud forum members.

 

I have property in Campbelltown currently rented for $450 per week.

Its a slow burner.

MACARTHUR REGION IS HOWEVER GROWING QUICKLY AND DEVELOPING AND MORE SO UP TO 2026 WHEN AIRPORT OPENS.
Sorry about caps. Dont want to retype.

Alot of employment is going in.

Although For me Casula /Lurnea has done better.

 

I don't think it's a slow burner. I think it's playing catch-up. I've held in Campbelltown since 1998. It always mirrored what was happening in Western Sydney. Last cycle it was slow out of the starter gates, so it didn't get as much growth.

 

Lurnea a is finally turning a page this is up the road from an IP we hold .
New soccer fields, cafe community hub.
New building replaced the old abandoned shops. Looking good tenants are usually lined up at the opens so happy

looking amazing

 

Do you think Cambridge Park is one of them? How about this?
83 Victoria Street, Cambridge Park NSW 2747 | Domain

727m2
$350 rent as per the rental appraisal
Owner occupied
Property looks very run down. In need of uplift.
One of the best things - Corner block.

 

Why do you say “needing work”? Is that where you can the instant boost in equity from and is this anything specific to St Mary properties where the best return comes from properties that need some work done?

 

Not sure if you read the latest Core Logic report, but houses in Airds near Campbeltown had one of the most significant growth percentages in NSW. I would have expected your properties to have grown quiet a bit now. I actually have their report which lists the top 100 growth suburbs for the last 12 months, 3 years and 5 years, but I can’t post it here as I might get into trouble!

 

What do you think it will go for?

 

Looking at the sales on that street, probably more in the low to mid 600’s. If you look at the recent sales for 4 bedrooms in that area on Real Estate (go to the bottom of this link to see the map with recent sales - https://www.realestate.com.au/property/83-victoria-st-cambridge-park-nsw-2747), it’s slightly around that mark, but my estimate is lower because of the amount of reno work required for this house, plus I haven’t seen the building & pest report yet. Having said that, the price might be higher because this block is a bit larger than the comparable sales in that area I could find. TBH, I need to do more research, but this is my assessment at this stage. Your thoughts?

 

I don't know but doubt it will go starting with 6. Would you even get access to a B+P?

My guess is 7s (and the way the markets going I wouldn't be suprised with an 8)

 

That house is going to sell for mid 7s easily in todays market maybe even a figure starting with 8s as you say.

Corner block with 727sqm. The interior just needs a cheapo reno. Kitchen cabinets can be reused and repainted for cheap. Even the bathroom tiles might be able to be salvaged if they are not cracked. Repaint them to make it fresh and your laughing. Tubs/sinks/toilet all can be re-used.

Entire house reno cost under $20k if you can do a lot of it yourself. As long as there are no major structural issues this is going to get snapped up quickly and for a good price.

 

Pics dont look bad thought new flooring and a paint job (pics make it looks like it doesn't need it). Kitchen looks fine (cept the flooring and bathroom looks fine - its not a brand new house)

 

Did a bit more research. Yes, would be more like $700’s. Actually not sure if it will go for $800’s.

Recent sales:

1) 4 Worcester Road Cambridge Park NSW 2747
664m2
3 bed
Renovated
Brick
Feb 2021
$650k


2) 26 Barker Street Cambridge Park NSW 2747
923m2
4 bed
Old
Fibro
Feb 2021
$705k

3) 9 Haining Street Cambridge Park NSW 2747
664m2
3 bed
Renovated
Brick
Mar 2021
$729k

 

Are you saying it’s not worth doing it as most of the value is in the land? Would be good to do it just to see if there’s any major structural issues.

 

Look at the map. It's not too far from St Marys, nor Penrith. A rising tide lifts all boats. Yes, it needs a little work which could mean a good thing if you can do work yourself, or a bad thing if trades are wanting too much.

 

Do you know where Airds is? Do you know what's been happening in Airds? Airds is not your typical Campbelltown suburb.