NSW Sydney Investment Advice: Greater Western Sydney

Hi everyone! I’m looking to buy my first IP in Sydney and wanted an opinion from some fellow members. I’ve been attending open homes/auctions in the following areas:

• Narellan Vale/Narellan/Camden/Mount Annan
• St Marys/Colyton
• Yagoona/Bass Hill
• Seven Hills

I’m looking for an established property on a minimum of 600m2 parcel of land to enable a future development opportunity (whether that be a granny flat or duplex) with a budget of $750-800k.

I’m finding that this criteria is achievable in all of the above areas (albeit the work required on the properties in areas such as bass hill is slightly higher).

I want to know where you would invest and why?

I’ve searched the “where to buy” threads on here which do discuss areas such as St Mary’s quite heavily, but have failed to find threads discussing areas such as Bass Hill, Seven Hills etc and the Camden area.

Thank you everyone!

 

Only ONE answer to this. If I was to hedge ALL of my net worth it would be this area. Next 5-10 years going to be massive changes.

• St Marys/Colyton

 

Started to see this too - open homes over the weekend we’re packed - houses going for 800k on decent parcels of land. My only question is would you prefer to live in St Marys (50 minutes from the CBD) or Bass Hill/Yagoona (near Bankstown airport with a lot of money being invested into the area - new university, metro, Bass Hill Plaza, Bankstown Centro etc and only 30 minutes from the CBD)?

 

I went to school in Lidcombe/Auburn. I would not want to live in Bass Hill/Yagoona or Bankstown tbh. I wouldnt want to live in St Marys either but some ppl have no choice.

That is why I choose to live in Castle Hill

In saying that St Marys has ALOT and I mean ALOT more going for it in the future than any of those other suburbs you mentioned.

 

Thanks thunderstrike! Unfortunately castle hill is a little out of my budget What are your thoughts on the Narellan and Camden areas? I recently read Campbelltown has the third faster growing LGA.
My reasoning behind the Bass Hill area was the demand amongst young families and the high performance of duplexes in that area. In saying that the yield on rental properties is rather low

 

I voted Seven Hills, but do see St Marys as being high up there on the list.

I chose Seven Hills, because I have seen how rapidly it has changed over the last 8 years. It is closer to the CBD, highly landlocked and backed in by the sprawling Blacktown/Parramatta, has excellent transport links (express to Parramatta, Central, etc.) and has a shopping plaza, is close to Blacktown's Westfield/Hospital BUT ISN'T BLACKTOWN.

I'd be investing my money in Seven Hills over the South West just because there's so much land out there.

 

Thanks Do Androids Dream - do you currently own or live around the area? I’m finding of all the suburbs mentioned above the supply in Seven Hills is by far the most limited

 

I was working in the area up until last year before WFH

Have you made contact with the Real Estate Agents in the areas you're looking at? You can ask them to contact you or notify you if anything comes up before they advertise. It happens a lot more than people think

 

St Mary’s only ....

 

Lalor Park, 2147. Northern boundary suburb is Kings Langley - the average house prices of KL, $977k. Average price in Lalor Park is $675k. Avg of Blacktown - $720k. Seven Hills $722k. It is surrounded by higher priced neighbouring suburbs. It is currently undergoing transformation as increasingly more houses are at the stage where they're falling apart and needing demolition. Being replaced by medium density townhouses/units in their place.

 

I've looked into Lalor Park - Main issue being the lack of supply in both the Lalor Park/Seven Hills areas. Seems to be a surplus of supply in areas such as Blacktown though

 

I just did a search on realestate.com.au - so many houses going to auction! This is surely the influence by real estate agents. This area typically isn't one for auctions and they don't tend to do well at auction - those poor owners being sweet talked by the estate agents into auctioning their houses so the agents make more dough from auctioneer fees and marketing fees on top of the sales fees.

 

This is the perfect sign of the market being on fire. Auctions are always a sign that they are expecting well over asking price. Yes usually greater western sydney is NOT an auction market but it seems everywhere is auction now.

 

And even that with 90% clearance rate

 

I agree - on several occasions I have called agents who have also advised that they are not providing a price guide for their listings and are instead 'letting the buyers decide the price'! Due to the lack of supply on the market at the moment, paired with low interest rates it's making it near impossible to buy anything for what it's worth or at market value. Be interesting to see how this plays out over the next few months