NSW Riverstone property market

Hi,

What does everyone think about Riverstone ?

There’s a house and land option for $750K but I’m not sure whether it’s the right location to invest

Thanks

 

Hi there,

It appears to me you are asking two questions: whether Riverstone is a viable investment location and if you should purchase a H&L package?

I like Riverstone as a suburb and have grown up around this area. Would I invest there? No, because it doesn't align with my investing strategy or goals. Should you invest there? That depends on what your goals and strategy are. Would a H&L package be your best option for capital growth? No.

If you can provide more detail around your goals and circumstances, members (including myself) could give you more detailed responses.

 

I would be reluctant about Riverstone. Doesn’t really give impressive look, require massive transformation and removal of commission housing. Need another 10 years. The price is too high for the quality of the location. Box hill is far better location but slightly expensive.

 

Thanks Jana for your reply.
I agree, Box Hill is a better location but I don’t think I can find anything there for my budget.

any other recommendations in that area ?

 

Thanks Brandon,

I read that there’s a plan for Town Center there. Don’t you think it’s going to add value?

what I want is to build a portfolio and achieve the maximum capital gain. It seems this is not the right location for that.

do you have any recommendations? It can be from anywhere in NSW

 

How about regional NSW? For $600k you can get something decent in Orange.

 

Once completed, it may overtime increase demand for the area. Though, how long until that happens is anyone's guess. I would prefer to invest in an area that already has strong demand not wait for demand to increase.

Is there a reason you are limited to NSW? With your budget, you would have a wide variety of options if you weren't limited to one state.

 

That’s a good point. I’m new to property investments. What suburbs do you recommend outside of NSW ?
Thanks

 

That’s seems a good idea. Do you know exactly any development plans by the government that’ll drive the demand in the future ,

 

You could look into numerous other metro markets such as the likes of Adelaide, Brisbane, or Perth where you would have numerous options for your budget.

 

And do you have any good agents that you know in that area ? Or any recommendations around the house snd land packages ?

 

Just side question, why Riverstone has bad reputation? Why people tend to run away from it?

 

I only know that riverstone is in the flood path and also part of box hill. The recent storm event was categorised as 1 in 50 year event and evacuation messages was sent to these areas. However if 1 in 100 year flood happens, the effect is quite huge. That is my reason to avoid. I also have heard riverstone have many break ins too. Check the ses flood map. Even schofields and marsden park was effected in recent event. But Property price keeps soaring high.