NSW Is Kellyville/Norwest a good area to buy

now, this is a much better goal than "saving tax"

 

It did during the Sydney boom and not at the moment due to the turndown. But even in this market, its still doing good

Some properties are getting sold in days of listing due to the value and its pretty popular among first homebuyers and upsizers

9 Ealing Place, Quakers Hill, NSW 2763
9 Taro Place, Quakers Hill, NSW 2763

They are some good properties on sale if you are interested like this one

92 Summerfield Avenue, Quakers Hill, NSW 2763

 

I had been seriously looking for past 4 years or so..Bought my PPOR during the recent boom years and now when the market was correcting, thought it’s good time to buy an investment.

 

Hi @Alec

Although I agree with other posters about the intent of property investing (focus on capital growth not tax benefits) I understand where your goals are coming from, in terms of wanting to locate something that will be a quality IP that can potentially return solid CG (though 2-3 years is ambitious and more speculative than true investing) and possibly be an asset in the future for your family/children. Certainly not uncommon goals

We've helped many clients over the years and specialise (and live) in the Hills and north sides of Sydney so know these areas very well - please note the below is just my humble opinion so take it as you will:
Yes, we're currently in a downturn phase of the property market here in Sydney. No surprises there. From the peak of the market (July-Oct 2017) Sydney suburbs have fallen (an average of 8% during the 2018 calendar year) but naturally this has varied, depending on area, property type, demand and supply etc. Insufficient data yet for the 2019 year but it's still negative out there right now, hence real opportunity for those purchasers looking to buy against the herd mentality. Vendors nervous, with supply down with those sellers "testing the market" absent from the landscape. Knowing your areas, market, prices is paramount to success.

You're spot on when, as a local, you note that good pockets of housing in The Ponds, Bella Vista etc haven't diminished in value as much as other areas, despite some of the bigger doomsdayers here on PC In fact, when comparing actual hard data, Chatswood (-6.9%) and Lane Cove (-12.6%) houses have fallen further than the Ponds (-4.4%) and neighbouring Blacktown LGA Stanhope Gardens (-2.8%) in the 2018 year. Kellyville has suffered a little more (-9.1%) but not much further than other more premium Sydney suburbs over the same period (eg Balmain houses -6.9% last year)

What I will say is that, in the burgeoning and still growing Norwest region, I believe that proximity to transport is going to ultimately be the game changer. Without decent public rail transport, prices have always been less than that of our comparable neighbours on the north shore side of town and bringing the CBD closer (and far more convenient via automated trains every 4 mins in peak hour!) and being within walking distance of these stations will be the most sought after properties over the long term.

Though I'm not a personal fan of the Sunland dvpt along Memorial Ave (I still think it looks more institutional than residential in parts but that hopefully will improve as it greens up over the next few years ) I can see why you'd be attracted, due to pricepoint. I think you'd be wise, however, to also consider other neighbouring suburbs that are true walking distance to the new stations (think Rouse Hill, KVille Ridge, Stanhope Gardens, Glenwood) and see if you can get something freestanding (less headache if not strata titled and also more capacity/control over what you can/can't do to the property) or closer in. $800K is a tricky budget on the Hills side of Old Windsor Rd as you already know.... you might have to forget your biases and spread the net a little further. Best of luck whichever way you go and I hope you end up with a great outcome. There's negotiating to be done out there

 

Thank you for the support and the insights Jacque Close guess on the development..Its not Sunland though..Its slightly better location and build, and is very close to Kellyvile park

 

Do you like podcasts? If so, I would recommend you jump over to youtube & listen to the first 20 episodes or so of the Property Couch. They do a great job of going through the basics. Another one to have a listen to is Your Property Success, their podcasts are on their website. Or if you prefer to read grab a couple of property investment books. It's a huge investment you're talking about making, definitely worth taking a breath, getting educated then jumping in.

While it has it's challenges, don't be afraid of looking outside of your own backyard.

 

Just to throw a spanner in the works have you considered investing in another city? If you have a healthy income and can support the holding costs you could consider Brisbane where around 800k buys a house in a premium suburb with a good land content not far from the city. Brisbane has not suffered the price declines like Sydney and Melbourne and suburbs around 10-15 klms from the CBD are still in high demand. Houses on double lots or lots than can be split are especially popular.

 

Thanks Richard, wanted to buy somewhere in Sydney only, not inter-state, not much about idea about Brisbane, so did not want to risk it.

 

If you think Brisbane is riskier than kellyville, I would recommend you do a lot more research.

 

Does knowing a area help? You think a kellyville townhouse will be a good investment for the next 3 years, remember......

 

Read a couple of posts and stopped. Like others have said you need to learn about Pi first . If I were you I'd go spend a couple hundred bucks on aussie RE books and start learning. Podcasts, forum also great avenues to learn the basics .

You won't be able to do better until you know better.

 

Simple 3.14!

 

Just looking back at this post, hindsight is a gift!
That townhouse mentioned in the post boomed from 750k to 1.1mill today.
However I ended up buying a house in the Ponds that boomed from 950k to 1.5mill currently.
Jacque was on the point, the metro project and the covid boom changed house prices in the North West.

 

Well done…always goes on to prove that you should buy when nobody is and sell when everyone is buying.