NSW IP - St Clair / St Marys / Claremont Meadows / Colyton

What are your thoughts guys on these suburbs for the IP (a house with a 600sqm+ land)?
CG is important/aim here and ok to have neg gearing where the rental returns should cover a bigger chunk of mortgage repayment. Any specific sections of these areas to focus or avoid?

We know the party has likely finished in these areas but we are still trying to check if we can get something around/under $850k mark. Hoping to see more growth in these areas and given Sydney Metro Greater West coming up will make it

 

You should have asked the question in the St Mary’s thread!

$850k is a comfortable budget for Western Sydney (for now). Personally, I think St Clair, Colyton and Werrington are all great place to live compared to certain pockets of the area, and therefore would enjoy better capital growth in the long run.

Properties there are selling real fast, but there are still some bargains if you are willing to spend some time on property research.

 

For your $850k I'd buy in St Marys, Colyton & St Claire. St Marys is where the major transport hub is going to be but it seems Colyton & St Claire are preferred from FHBs and owner occupiers.

Find the cheapest and the most crappy house you can find. Preferably one that needs a crap tonne of TLC and reno work. Your local in Sydney so it will be easy for you to renovate yourself or co-ordinate things you cannot do.

That is instant capital you will get. Also just to let you know I had 2 houses in the area listed and rent within 2 weeks with $20 increase in rental each. So the market is quite good at the moment. Not has hot as Brisbane rental market but good.

At $850k like Kevbo said its still a good amount to get a decent place. I would say by the end of the year I'm not sure this price will get you much. I'm seeing more and more places in less desirable areas already hit $650k+.

Dont use the suburb Medians in RE - they are lagging and they are also rolling medians over 12 months which mean the values are skewed and not reflective of the actual prices places are getting right now.

 

For crying out loud! Can you at least learn to spell the name. It's ST CLAIR!!!!

 

LOL.

 

I know this one has already had a little renovation but its clean. Long term you cant go wrong with it. The price I think will end up at over $750k though.

https://www.realestate.com.au/property-house-nsw-colyton-136428090

 

So 2.9 % in a low socioeconomic which has already doubled in recent time is a good investment ?

seriously ......

cliff

 

I know you invest in Ipswich in BNE. I also have a place there. Are you saying you'd rather buy in Ipswich now then in 2760 or 2770? If so boy are you dead set wrong.

Purely going off comparing the amount of $$$ and investment going into both areas its night and day. Its not even on the same level or playing field.

 

St Clair/Claremont Meadows isn't low socio, but totally agree with you on the yield etc.

 

Thanks for your feedback, but care to elaborate on why you think these are "low socioeconomic"?

 

Best to drive around and get the street feel, watch the people around, visit shops and open homes (most of them got tenants in, so you will get a good idea how the tenant will care about your IP).
Once you done that do the same in other parts of Sydney market (read more expensive parts of Sydney)
Then spot the difference.

 

4 Caines Crescent, St Marys, NSW 2760 https://www.realestate.com.au/property-house-nsw-st+marys-136441150

Any guess for how much this would have been contracted for?

 

Best way is to see what similar properties get sold for.


Regards

 

Yes . I think buying in Goodna / ipswich is not a bad place to buy .

BTW , your above reply is exactly why myself and skater are taking exception to your over hyped post at the moment .

Anyone who invests in property is well aware the are no certainties .

To say someone is “ dead set wrong “ is just dead set wrong ....

I don’t pay that much attention to massive developments just for the sake of it .

Early 2000’s we were looking at q’land costal cities and there was a lot of hype about all the money going into Gladstone . I think more than any other. Didn’t take much to realise that it was a high risk investment that you’d need to get in , take you profit and get out quickly . Instead went for Rocky and Townsville . Townsville has had its issues but nothing compare to Gladstone ( lots of horror stories in forum about negative equity ) . Turned out to be the right decision .

2770 has gone through a massive boom in the last few years while goodna / ipswich haven’t . Every cycle I’ve research has shown those areas reaching similar price points

2770 might out perform goodna / ipswich in the next 18 months , but if it doubles before goodna and ipswich double , I’ll be very surprised .

Only time I’ve been very surprised in our investment journey is when the seven places we bought in Logan in the early 2000’s doubled within 12-18 months of buying . It set a high standard .

cliff

 

Yep!

This! It's TIMING. Ipswich, Logan, Goodna, etc hasn't had much growth YET, but if Qld keeps running, then a rising tide lifts all boats. The growth will come, and if you are into timing in a big way and have the capacity to run with it, you'd sell out again & buy into another area. Maybe Sydney, to catch the next boom.

 

Can you recommend any good leasing agent in the area ?

I’m looking for one to manage my property in st Clair.

 

I use Raine Horne St Marys. Some people love them others don’t.

I am the Druitt ! lol

 

Best in the area is @Hayley Cannon

 

Really? I had a bad experience with them, many years ago.

 

You got to give them a blast every now and then.