NSW PPOR in Sydney direct CBD commute under 650k

Discussion in 'Where to Buy' started by Kis Kis, 1st Jun, 2017.

Join Australia's most dynamic and respected property investment community
  1. Kis Kis

    Kis Kis Well-Known Member

    Joined:
    31st May, 2017
    Posts:
    67
    Location:
    Olympic Park NSW
    Hi all smartbrains, whith the new stamp duty reform, where should we look for buying a townhouse/ unit/ duplex for 600k-620k within 1 hr commute to cbd for ppor. Close to train line. Any suggestions of growth areas where less chances of a price correction even if there is a sharp price fall?

    Rouse hill? Mount druitt? Leppington? Penrith? I would love rouse hill but cant see anything under 650k. I would love to buy a house with a land component but needs to be 1 hr commute to cbd and cant see anything under 650k either! .

    May need to sell/rent in 2-3 yrs if job unavoidable job relocation situation arises, thats why more concerned for a growth area...

    TIA
     
  2. Scott No Mates

    Scott No Mates Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    27,103
    Location:
    Sydney or NSW or Australia
    Punchbowl, Greenacre, Roselands, Greenacre - sure it will only get you a two bedder in these suburbs but you're in a growth corridor with a new metro line to be built to upgrade the rail service (much less than an hour from the cbd).
     
    Kis Kis likes this.
  3. Cimbom

    Cimbom Well-Known Member

    Joined:
    19th Jun, 2015
    Posts:
    1,568
    Location:
    Back in Canberra!
    If you want an actual 1 hour door to door commute (i.e. not 1 hour on the train), I don't think you can live more than about 20 odd kms from the city. I live 2kms from my work in the city and it takes me 25 minutes total.
     
    Kis Kis likes this.
  4. Scott No Mates

    Scott No Mates Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    27,103
    Location:
    Sydney or NSW or Australia
    Get a bike, 10 minutes max and saves a workout.
     
    Kis Kis likes this.
  5. Cimbom

    Cimbom Well-Known Member

    Joined:
    19th Jun, 2015
    Posts:
    1,568
    Location:
    Back in Canberra!
    I do walk there a lot too - takes about the same time but waiting for the red lights is annoying. I'm scared off cycling in Sydney after my supervisor got hit by a car twice in the space of an hour :p
     
    Kis Kis likes this.
  6. BKRinvesting

    BKRinvesting Well-Known Member

    Joined:
    15th Oct, 2015
    Posts:
    685
    Location:
    Canberra, ACT
    Penrith and surrounding suburbs - you can still get townies and units in there for 400-500k
    Not the nicest suburbs, but hey you didn't mention that as criteria ;)
     
  7. hash_investor

    hash_investor Well-Known Member

    Joined:
    11th Oct, 2015
    Posts:
    2,439
    Location:
    Sydney / Canberra
    Try doonside , rooty hill, quakers hill etc. Plenty of stock under 650k and better area than bankstown etc.

    If you want a little bigger try mount druitt north of station. Dont worry about selling. Plenty of people looking to buy there all the time
     
    Kis Kis likes this.
  8. Kis Kis

    Kis Kis Well-Known Member

    Joined:
    31st May, 2017
    Posts:
    67
    Location:
    Olympic Park NSW
    Thanks a lot Hash_investor and everyone else. You guys have been really helpful in guiding/ advising here... saved us from committing a likely mistake.
     
  9. Tattler

    Tattler Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    1,065
    Location:
    Sydney
    Actually, if you don't have kids, I suggest buying 1 bedder unit as close to city as possible. Something like this will be good, especially Ashfield has fast train to city (10 mins train ride!):

    15/7 Bruce Street, Ashfield, NSW 2131 - Property Details

    11/74 Alt Street, Ashfield, NSW 2131 - Property Details

    102/17-20 The Esplanade, Ashfield, NSW 2131 - Property Details

    To me, these kind of properties would be very attractive to FHBs. Then later use the equity of that to buy a larger place in the future, or keep it for AirBnB ....
     
    Danyool and Kis Kis like this.
  10. Cimbom

    Cimbom Well-Known Member

    Joined:
    19th Jun, 2015
    Posts:
    1,568
    Location:
    Back in Canberra!
    I'm not a fan of AirBNB TBH - it is really making many places lose their amenity as more and more owners are jumping on the bandwagon. I'm renting in the inner eastern suburbs at present and we are starting to get so many people staying in our small building that think it's a 24/7 party house and not somewhere where actual people live. Screaming in the middle of the night, playing loud music at all hours, leaving security gates and doors open, etc etc. If I wasn't moving back to Canberra, I would definitely be moving out largely for this reason. Yes, it can make you some extra income but at the same time, can cost you in other ways too.
     
    Kis Kis likes this.
  11. dab91

    dab91 Member

    Joined:
    6th Jun, 2017
    Posts:
    6
    Location:
    Sydney
    I'm in this kind of position looking to purchase a first home with good connections to the CBD but looking on the lower north shore (wollstonecraft / waverton / lane cove north) at 1 beds from 630-700 or possibly stretching to 2 beds for 700-775.

    Can anyone tell me why this is or isn't a terrible idea? :(
     
    Cia and Kis Kis like this.
  12. Jack Chen

    Jack Chen Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    480
    Location:
    Sydney
    Might need to stretch that to $1m for 2 beds in Wollstonecraft. I'm a big fan of Wollstonecraft so no, not a terrible idea. But if you're expecting double digit growth to continue in Sydney you might be in for a surprise.
     
  13. Booming Sunnyvale

    Booming Sunnyvale Well-Known Member

    Joined:
    17th May, 2017
    Posts:
    45
    Location:
    ACT
    Moved to Sydney then came back to Canberra too. Do not blame you one bit.
     
    Jamie Moore and Cimbom like this.
  14. jprops

    jprops Well-Known Member

    Joined:
    24th Sep, 2015
    Posts:
    885
    Location:
    Sydney
    Once again - if you're going to need to sell in 3 years time.. it sounds like a poor idea.
     
  15. Kis Kis

    Kis Kis Well-Known Member

    Joined:
    31st May, 2017
    Posts:
    67
    Location:
    Olympic Park NSW
    Yep realized that..
     
  16. jprops

    jprops Well-Known Member

    Joined:
    24th Sep, 2015
    Posts:
    885
    Location:
    Sydney
    Reconsider if you will really need to sell. Holding would be better. Better yet rent and buy in Brisbane ;)
     
    Kis Kis likes this.
  17. Jamie Moore

    Jamie Moore MORTGAGE BROKER - AUSTRALIA WIDE Business Member

    Joined:
    18th Jun, 2015
    Posts:
    3,977
    Location:
    Canberra, Brisbane and Sunshine Coast
    Sydney prices are ridiculous :-(

    I can understand why out of towners see value in Canberra property.

    $650k in Canberra would get you a decent house on a good sized block. Add another $100k - $200k and you'll be close to the CBD.

    Cheers

    Jamie
     
    Cimbom likes this.
  18. Booming Sunnyvale

    Booming Sunnyvale Well-Known Member

    Joined:
    17th May, 2017
    Posts:
    45
    Location:
    ACT
    Was going to suggest the same thing as Jprops, buy in Brissy, rent in Syd.
     
  19. Cimbom

    Cimbom Well-Known Member

    Joined:
    19th Jun, 2015
    Posts:
    1,568
    Location:
    Back in Canberra!
    Even 550k would. And everywhere in Canberra is close to the CBD by Sydney standards :p
     
    Kis Kis and hash_investor like this.
  20. Tony Fleming

    Tony Fleming Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    717
    Location:
    Sydney
    As @BKRinvesting said Penrith area would be possible as well. Blacktown would be possible for good quality townhouses and units. A lot of infrastructure is in the works.
     
    BKRinvesting likes this.

Buy Property Interstate WITHOUT Dropping $15k On Buyers Agents Each Time! Helping People Achieve PASSIVE INCOME Using Our Unique Data-Driven System, So You Can Confidently Buy Top 5% Growth & Cashflow Property, Anywhere In Australia