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Picton NSW?

Discussion in 'Where to Buy' started by psylence, 22nd Nov, 2015.

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  1. psylence

    psylence Member

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    Any thoughts on this area? Considering buying an IP here in the near future.
     
  2. Azazel

    Azazel Well-Known Member

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    You should've picton-other area.
    Why Picton?
     
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  3. Terry_w

    Terry_w Solicitor, Finance Broker, CTA Business Member

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    I like the area and have been investing there (related entities) for a while now. I think it is a good growth area because it is between bowral and campbeltown and the area is rapidly expanding. Along the M5 as well (or Hume Hwy).

    Look out surrounding suburbs too. One had 44% growth last year.
     
  4. larrylarry

    larrylarry Well-Known Member

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    Terry are your ips in picton on acreage?
     
  5. Terry_w

    Terry_w Solicitor, Finance Broker, CTA Business Member

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    1200m sq to 5 acrers
     
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  6. York

    York Finance Broker Business Member

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    Is there not a land oversupply issue coming up over the next few years?
     
  7. Terry_w

    Terry_w Solicitor, Finance Broker, CTA Business Member

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    Not sure.There will be plenty of supply and they prices are high.
     
  8. York

    York Finance Broker Business Member

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  9. Terry_w

    Terry_w Solicitor, Finance Broker, CTA Business Member

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    Thanks York. These new estates are very expensive compared to existing properties - they may even pull up existing prices a bit!
     
  10. Terry_w

    Terry_w Solicitor, Finance Broker, CTA Business Member

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    BTW - that is wishful thinking
     
  11. Dwalsh

    Dwalsh Well-Known Member

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    I have two ip's there and are doing pretty well, paid 303,000 and worth 480,000 and bought the other for 340,000 and worth 520,000 and got good yields as well, although I bought there 5 years ago and 4 years ago, it was very cheap back then
     
  12. adrian_christian

    adrian_christian Well-Known Member

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    If I look online, capital growth in the past 12 months has been around 18%. Looking on domain there's only a handful of places under $500,000....

    Why the great gains over the last 3 years? Can it be sustained for much longer? What is the appeal at an entry point of $500,000+ if you hold nothing in 2571 and surrounds?