NSW Rule of Thumb for Sydney

I heard from a relative that it’s more advantageous to buy a decent apartment (not one of those cookie cutter skyscrapers) in an Inner Western suburb, rather than a house in a Western suburb.


However I thought the rule of thumb was that houses would generally increase more in value over time rather than apartments. What do you think guys. Boutique apartment in the Inner West or house in Western Sydney?

 

How boutique? Number of levels? How many in the block? What facilities?

 

No way in the world. My family own numerous units in the inner west and their growth compared to free standing houses in the west is nowhere near the same.

Heck even Seven Hills homes are like $1.2-$1.5M now. These inner west units you can make unlimited amounts. Land is the value not 4 gyrock walls and common property. LOL

 

I've made tons of money with appartments and I'd never buy appartments nowadays. Only houses with decent land. All the homes I've bought have out performed my appartments.

 

Without specifics, I'd go the Western Sydney house too. Land is the commodity.

 

I don't know if I'm imagining things, like hallucinating, but I think those cheap units out west and southwest of Sydney are starting to get a tad more expensive.

 

I assume by boutique apartment you mean one in a small block?

I know which I would rather live in, but I would never buy it. Funny enough, I do live in one but for that reason I rent it.

The rule of thumb you might be getting confused with is that a unit in a small block (typical of the innerwest) is a better option than a high density apartment found in newer areas.

 

How many units/houses does this relative own? How long have they been investing? How much money have thry made on property?
Everyone's an expert when it comes to telling you what to do . Only listen to those that have what you want or are doing what you want to do.
Too many BBQ experts out there.
Many people rubbish Western Sydney but there are plenty of self made millionaires here who made their money on Western Sydney so called "rubbish" properties.

 

100% correct. I'm kind of new around here but have been reading a lot and man there were some threads in the past with some very senior members on here absolutely trashing Western Sydney. I'm just reading some of those comments and shaking my head in disbelief.

I'm just thinking if those guys really hated western Sydney that much or just had no effin idea on anything about it and just going off some pre-defined stereotypes which seem to be the case around here. Even for Logan where I am currently there are some posts from ppl that are totally wrong.

If those guys actually put in effort and understood why Western Sydney was a perfect buy back when they started those threads they would actually be multi multi millionaires. LOL.

 

I moved to Sydney a few years ago and there are very staunch (and misplaced) views on what a ghetto area is and is not.

The reason is that Sydney is really a collection of a bunch of small cities and you never have reason to leave your own, and as a result you dont for 20+ years.
Before I moved here I asked a couple of people about Marrackville but was told hell no, they wouldnt even travel near it, much less live there.
I dont live there but I do visit and its an awsome mix of character and craft breweries. A gentrified hipsterville.
I've mentioned this back to them and thier response is oh, I've never been there but thats what I got taught 20+ years ago when I grew up on the northern beaches.

 

houses will perform better. there are very unique circumstances and examples (i.e. if its a designer appartment overlooking famous beach)

 

A house facing a famous beach can also perform well too, it's just that there aren't many left.

A unit may perform better for several reasons including better elevation, aspect, modernity, convenience, amenities, lifestyle considerations vs the house which may enjoy many of the same traits as the unit but be landlocked preventing any greater intensity of landuse.

 

Lol I think the relative was pulling facts out of his butt. Thanks to everyone for the help.

 

What is the relative’s experience and results with property investing?

 

They're rolling in it, four OTP purchases yet to settle with the sunset clause looming.