NSW IP in St Mary's

Looking to purchase IP(house) in St Marys.

What does people think about it? Do you see 5 year growth after 2nd airport development? There is going to be direct metro line from St Mary's to Airport.

 

St Marys right now is probably the smartest investment anyone could buy. All along that corridor is a good investment St Marys, Colyton, Mt Druitt and even those lessor areas like Tregear they will all benefit from St Marys becomming a central transportation hub.

It will be the main interconnect between the metro, the traditional trainline, the M7/M4 and the government has already started a billion dollar renovation of St Marys/Mt Druitt.

I'm actually looking at buying there right now as well but the prices are getting insane already.

 

Would you buy South or North? I feel South is better and North is more junkie area though it's closer to station.

 

To be honest the entire area is on its way to gentrifying. If you drive around the entire suburb there are huge new houses there. Across the road on a house I was looking at buying on Desborough Road there are massive 5+ bedroom houses going up or have been recently built. They look awesome and its actually a very nice Italian family living there.

I actually like Colyton more. Its more of a family vibe there and feels to me anyway that its more suitable for a family lifestyle for young families that can only buy under $700k.

I've been going to open houses and auctions every week. Have you been lately? Its crazy I saw houses in Tregear sell $35k above the vendor indicated price.

I think the next 5 years that entire area which traditionally was looked down upon is going to grow exponentially. There is just way too much infrastructure going on, investment going on and now that working remote is going to be the norm going forward people dont care about living close to the city as much now.

 

I haven't been attending the auction/open home but I know the houses around Desborough Road are huge.

You can easily build granny flat as they are generally above 450m2. The prices are above 700k on average.

 

Its crazy how much this area has gone up.

I grew up here and you could buy mid 300k just a few years ago.

Werrington is also close and similar price. One suburb past Werrington is Orchard Hills. Multi million dollar land props.

It'll all end up going up once the hubs are established I believe.

 

I've also noticed new houses popping up and it's mostly from ppl who bought there 10 plus years ago.

Houses everywhere have been going for high prices and mostly due to low stock levels and a few suburbs still below the median price peak including tregear, st marys and colyton

How much percent growth do you expect in the next 5 years from St Marys?

 

100% agree. If I could I would drop all my money I have into St Marys/Colyton and into the surrounding suburbs but the banks dont want to lend me that much money.

Not sure. I'm looking for rundown houses or houses that need some work as I'm in Sydney so I can do a lot of basic reno myself. In saying that its already quite expensive there I dont think you can find anything under $650k in St Marys or Colyton that is half decent. I know if you buy today though that by the time the airport and infra is complete you'd be well and truly up in capital gain.

I think we may be a little late to the party. I drove around last weekend to the surrounding suburbs as well and there are new builds happening in pretty much every suburb (i.e) Emerton, Lethridge Park, Tregear, Willmot all those lessor suburbs are having significant investment in them now meaning that investors are starting to see potential in them I guess in anticipation of the new airport and St Marys becoming a major Sydney business hub and interchange.

They are also surrounded by Marsden Park Business Park and suburbs like Schofields are very expensive already which are driving first home buyers and young families to more affordable areas. I see so many young families at these open homes in these suburbs.

 

@thunderstrike888, agreed. I remember when Sydney had its boom in 2015/16 and Willmont etc were still sitting at 200k area. Coulda, woulda, shoulda.

In saying that there are still lots of 700sqm areas for 700k mark.

 

Sydney has growth cycles and based on history we are a few years away from boom but based on current lending and interest rates, I can see these areas growing 5% pa next couple years.

All the new houses are knock down rebuilds of ppl living there for 10 plus years and not investors

I've also noticed a different demographic coming through these areas now which is good

 

Willmot was at 200k years of 2008/2009/2010

 

My mistake, that kind of growth is amazing!

 

I've been reading some past posts and there were a lot of bashing of guys who invested in these areas on old threads. I would say those guys will be laughing all the way to the bank from the actions I'm seeing on the ground.

I'm going out this weekend as well - hopefully I can land something this week fingers crossed. My preference will be

* Colyton
* St Marys
* Oxley Park

Then probably suburbs around Ropes Crossing as that is already a new area with many new builds. I think Willmot, Tregear and Lethridge Park provide some buying opportunity if your looking for some bargains for now. In another 5 years I would say these suburbs would be well and truly following the path of the surrounding suburbs. I've seen several new townhouse complex's, new 2 storey houses and individual builds in these lessor suburbs increasing a lot recently.

 

This is the MAIN thing that is the best indication of gentrification. Like I said I've been going out weekly for several months now.

I see tonnes of young families, young couples and some older folk. Mixture of ethics everywhere from Indian, Asian, Italians, Anglo pretty much every background you can think of. Some of the guys I've been talking to at the auctions have very very good jobs (i.e) Engineers, Lawyers, IT Workers etc....they are there because everywhere in Sydney is so damn expensive.

Say your on $100k a year single income family with 2 young kids. There is not many other places you can afford unless you want to rent for the rest of your life AND even in these areas if you buy a place for say $550k with 20% deposit. That's still a $440k loan. Over 25 year term at 1.99% OO rate that is still $1863 per month P&I not that easy to do when you have kids, bills, food, nappies, insurance, cars, petrol etc......life is hard....

 

I don't know his name but the Druitt guy from these forums would be loving life now haha.

I grew up in Rooty Hill and can't get my head around $1 million values.

 

Look at some properties sold within last few years

$800k
https://www.realestate.com.au/property/21-hershon-st-st-marys-nsw-2760

$835k
https://www.realestate.com.au/property/1c-carrington-st-st-marys-nsw-2760

$715k
https://www.realestate.com.au/property/5-hershon-st-st-marys-nsw-2760

They all have massive land. I reckon they are going to touch $1m mark by the time airport opens.

 

^ That's what I mean. St Marys already very very very expensive. My brother is on a very good salary making over $100k easily but he is the only income for his family. Its very difficult to even afford in St Marys now. This is why I am saying so many new and young families looking in surrounding suburbs before they get too expensive as well. (right now they are around $500k+).

I'm going to drive around today to look at surrounding suburbs. Tregear, Willmot, Lethridge Park, Whalan - lets see what's around. I don't think there is a single free standing house with 500sqm of land or more property under $500k in Sydney.

I've just had a quick look on RE for the surrounding suburbs - man everything is under contract already. LOL

 

How did you go?

 

It was fine. I saw what I expected to see which was some new dwellings going into the place and investment pouring into the area. I didnt know St Marys Queen St had developed soooooooooooo much. I was amazed compared to the last time I was there. I felt like I was in a totally different suburb.

I even saw a Ferrari 488 GTB white one parked put the front of the new Unit development complex right near the post office. I guess someone is making a killing out there.

To be honest that fills me with confidence. When I see money pouring into the suburb I know its going to do well.

I like Lethridge Park its quite clean now and some very nice renovations happening. I think the best bang for buck right now is Willmot. Right across the road is Ropes Crossing which has places for $800K+ already (newer builds) but literally and I mean literally across the road you got 4 bedroom houses sitting on 550+ sqm for $550k (solid brick houses that might need some TLC). Plus on the other side of the block its Marsden Park business park.

Willmot will not stay that low for long I think and I'm already seeing many new developments and duplex's going up into the area. Like I said above all those suburbs around St Marys going to boom. They are surrounded by expensive houses already and St Marys becoming a Major business/transport hub is going to do wonders for that area.

I actually put in an offer yesterday. Lets see how we go - everywhere is expensive already.

 

So agent just called me. I missed out on the house in St Marys. It wasnt even listed yet and he only offered it to his clients who where actively looking. This is the agent that I have previously bought 3 houses from already going back 10 years.

I offered full asking price but he said another person came on top $35k!!!!!! WTF. I was like nah its OK let them have it.

If its going to be like this I'm going to be priced out purely by the amount of loan I've been approved for!! Arrgghh