NSW Panania/Revesby/Padstow

Discussion in 'Where to Buy' started by carbon, 12th Apr, 2021.

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  1. carbon

    carbon Active Member

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    7th Mar, 2021
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    Sydney
    Hi

    What are peoples thoughts on these areas? We’ve been priced out of everything else we’ve looked at and slowly moving further and further out

    would a duplex be a bad idea for capital growth? Need something livable in the short term, not a project
     
  2. MyPropertyPro

    MyPropertyPro REBAA Buyer's Agents Sutherland Shire & Surrounds Business Member

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    Don't any problems broadly with these areas and we've had client enquiries about them. Areas shape and shift for reasons exactly as you've outlined. Would still be better going for a house IMO but you have to live somewhere and with current rates and markets it's still better to own than rent, generally speaking.

    - Andrew
     
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  3. hammer

    hammer Well-Known Member

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    I live in a duplex type-thing (technically it's a villa-unit thing but the layout is a duplex).

    Can't comment on the financial side of things but in terms of actually, you know, living...they're great!

    Just make sure the seperating wall is solid brick (preferably besser blocks) and you're good.
     
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  4. Redom

    Redom Mortgage Broker Business Plus Member

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    Liveability can be great - personal preference.

    In terms of capital growth, generally the value of older duplexes vs newer duplexes are a fair bit different (10%+). That probably gives some insight into growth prospects of different types of duplexes. Overall the macro environment should be reasonably supportive. Based on sales around different parts of Sydney, new duplex price growth appears to be closer to apartment type growth vs detached housing so far. In areas we've seen (inner south, east), they are up around 3-5%, vs 15-20% for detached homes in recent months. Perhaps that means catchup later in the cycle.
     
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  5. carbon

    carbon Active Member

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    7th Mar, 2021
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    Location:
    Sydney
    Thanks for the input, appreciate it

    we’ve also noticed that we can get some decent sized blocks and houses at Picnic Point, seems like a nice area? A little further out I guess