NSW PPOR around 1m in Sydney, which suburbs?

Hi all,

While the Sydney market tends to upturn, I'm looking for my first property to live in in the coming 3 months and would like to seek your advice on the potential suburbs. I have defined a few criteria as below, sorted by higher priority:

• Around $1m, can be up to 1.1m but only I really like it.
• Close to public transport, station to central station ~= 30m.
• Big land that has a granny flat builtin or I can build one later.
• I'll likely move to another one in 10 years time so some potential growth would be great.
• Min 3 bed which I'll rent out 1 bed. I'm single and living simply.

I'd really appreciate your advice and opinions. I'm newbie so don't hesitate to teach me . Thank you so much in advance.

 

I think a ~1m budget and 30min to central with land will be the most difficult thing to try to get. So what have you found that meets that criteria?

 

If you're lucky to get a fast train:
Hurstville/Central is 20 Minutes
Parramatta/Central is 25 Minutes
Blacktown/Central is 35 minute
Merrylands/Central is 35 Minutes
Como/Central is 30 minutes
Bankstown/Central is 30 Minutes
Liverpool/Central is 55 minutes
Holsworthy/Central is 35 minutes
Chatswood/Central is 26 Minutes (north shore trains are generally all stations to Chatswood) - outside of budget

If train to central is your criteria, then consider how far you are prepared to walk/ride/drive/catch a bus to a station for your total commute which will open up many more areas. Silverwater, Ermington etc.

Holsworthy is on a different train line to Liverpool, about the same distance.

 

Padstow (and surrounding suburbs on the railway)?

Can get that criteria done I think..may need to do the granny flat build though.

 

I've found a couple of (sold) property in revesby that meet the criteria. Still looking and I think I need to raise the budget.

Thanks for the summary. Likely I need to increase my budget to get into those suburbs.
BTW express train from revesby is about 25 mins too.

Padstow is a good choice too. Its under my radar now . Thank you

 

I can't give everything away.

Holsworthy is on the East Hills Line and further out than Padstow/Revesby.

 

How about Banksia?

17 mins from Banksia station to Central. 600m2 blocks. 5-10 min bike ride to bayside beaches. Median house price $1.025M.

Some houses are directly under the East-West runway flight path, but others are OK.

 

Punchbowl, Wiley Park, lakemba and belmore will have houses within that brief as would Padstow and revesby.
Any closer to the central via train and you will need to increase your budget drop land size and the granny concept.

 

Would you consider a townhouse/duplex in a better area? May not do badly capital growth perspective

 

Ingleburn?

 

If I can find one it'd be great too! Thanks, added to the watching list.

I'm generally not interested in these area.

What suburbs do you suggest? I understand that duplex will not yield as much capital gain as a house but...if I can't afford what is the point, right

 

Hurstville best travel time/dollar ratio, alongside Kogarah (in general the St George area is good value)

 

If you're looking for growth, consider the resale of a property with a granny flat within a particular area. Granny flats may limit the demand of the property when you sell, appealing more to investors rather than owner occupiers.

 

For that price range, you would be looking at the Bankstown area and surrounds.

You could also have a sticky beak in the St George area (Carlton, Kogarah etc), although that price range would be tighter. One of my favourite areas in Sydney for investing, albeit often overlooked.

You could possibly throw Hornsby + surrounds in there, but I suspect it might be just a bit too far in terms of travel time.

The above are strong suburbs at this price range - for investing at least. From an PPOR perspective, you would need to think about whether you would actually like to live in these suburbs, so it is not always about the numbers.

Happy hunting!

 

We recently sold one in Narwee that pretty much fits all your parameters.

 

Thank you guys!