NSW Purely Investment in South Blacktown or Wentworthville

Hi All,

Me and my partner have fairly equal say on where we would like to buy our first IP. so we can comfortably buy something for 700k - 800k and would like to buy it in Western Sydney..

dont want to consider other states or regional area for now.

1) I feel we should buy a House with Granny flat already built in south blacktown for around 750k. the rent coming from both house and council approved granny flat is perhaps 710-740 per week. I feel area is still well connected, closer to station, M4 etc and after few years House and Granny flat should take care of itself. there may be medium or usual capital growth many years down and with next cycle.

2) partner insists we should buy a house in Wentworthville for around 780k - 800k. I have seen rent being achieved is mostly 550k. but strongly believes this will have more capital growth as being even more closer to Parramatta.

your thoughts purely on these two scenarios above - which way would you go and why.

thank you.

 

You're going to get far more for your $$$ in Blacktown but I'm sure you know that already. Much depends on your cashflow position and ability to hold during the future. Also, are you a renovator or willing to renovate? Most houses in Wenty at that price point will be older and likely to suck up more funds over the holding period purely due to maintenance and age.
Have you considered any other suburbs eg: Seven Hills, Quakers Hill, Glenwood, Stanhope Gardens etc?

 

Hard choice but I think long term Blacktown will win out both in terms of potential growth and passive income.

Wentworthville growth is not as large as Blacktown which is a major business hub already and is expanding day by day. You should also consider if in the future your going to live in this house or not ever - that may have some influence as well.

 

I think it depends on the nationalities of tenants you'd like for a start. Totally different demographics there.
Also check in Wenty on the zoning. Some streets have units allowed on one side but not on the other. It could be a speculative buy or you may be stuck with something difficult to rent if there's major construction going on.

 

What do you mean by this? Its a very very big melting pot of cultural diversity in both of the areas. In Wenty of recent is mostly indians and Pakistanis now - Blacktown is more diverse I think more cultures everywhere.

 

Do look at Quakers hill. Even though prices are down, due to the value on offer, some houses are selling in the first week itself

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

 

thank you all for your responses.
not looking at Glenwood etc. as feel it too expensive for investment.
quakers hill is good agree - but being bit more further away only 1 train line. and also the buses from Seven Hills to Macquarie Park - big employment hut is more manageable from Blacktown - seven hills

 

Why buy now? I would wait a bit.

 

Quakers hill is just 2 more stops away on the Richmond line
Not sure if the single train line is related to the frequency but the frequency is good in peak hours. Every 10 mins to the city

Also, there is a direct bus from Quakers hill to Macquarie park(740)

Hope that helps

 

Ditto

Cliff

 

hmm, $750k in South Blacktown with a GF? how good is the chance to find one.

I recall these IPs back in 2017 were asking $850k

 

Do you select tenants based on nationality?

 

I would look other areas around wenty.

Ample good options. I would not buy in blacktown. Very big and different pockets.


Regards

 

Hi All,

feedback please.

needed your guidance between these two properties and which you think will be better investment property.
this will be our first IP - we surely can borrow comfortably up to 750k or bit more.

choosing between 49 Valda Street - old house and granny flat in South Blacktown - we can secure that property for 705k or so. both house and granny flat currently leased for 720 per week.
556 sqm land
49 Valda Street, Blacktown, NSW 2148

or

27 Robina Street - south blacktown. 898 sqm metre block
slightly better or heaps better location in south blacktown.
assuming we can get it for 700k or so in Auction..
old Fibro House and guessing can be rented for 400 per week.
27 Robina Street, Blacktown, NSW 2148

which would work better and your honest thoughts.

 

I think all depends what are your future plans and what you can do with 898sqm block. Is it sub-dividable, or can you build duplex and sell them separately? If yes and if you have capital in future and appetite to rebuild, maybe a good idea or the safest approach would be the 49 Valda St as it pays for itself and capital will increase slowly in long run.

Just ensure that they are walk-able to train stations as it will be attract tenants and possible rezoning in future.

I am not expert in this but just my thoughts