NSW Sydney West - Riverstone, Marsden Park

Hi Guys,

Lots of my friends are buying near riverstone and marsden park area however, somehow I am not too convinced.

reasons:

1. Land size are very small. 300sq and 2 story house costing around 750k
2. Too too far from city.
3. Even though metro work is in place, the traffic will be massive as everyone will want to park and take metro to work.

Your thoughts?

Any other regions within 1 hr journey to central where it is recommended to buy. Budget around 700-750

Cheers

 

Liverpool
And surrounding area
Working in area transformation is huge

 

Thanks mate,
I looked aroud minto and edmondson park however some how I feel they are quite far and the housing commission doesn't make them much attractive as houses there are cheap for a reason

 

Hoxton Park existing houses

 

@mukul m , I am in the same boat as you are. You can look around Blacktown area, as that is what I have been suggested.

 

Thanks Vijesh. I have been looking around Blacktown / Toongabie area however the perspective I have been hearning is "as they are old sububs with issues" there may not be much growth

 

You can't have your cake and eat it too.
Their will be compremise with any area in $700k price range.

Not to compromise you need $2,000,000 budget but when you have that budget you will want more

 

yep and fully agree and thats why trying to figure out what area may work best and hence seeking advice

 

look around quakers hill. you can be lucky in your price range. Its within 1 hr to central all day and lots are bigger. You can get a 3/2/2 in your price range on 500sqm and it is a nice area much better than anywhere around liverpool.

don't fuss too much about crowd around the metro parking as that will be true for any suburb

 

Yep was going to suggest Quakers Hill as well for that kind of budget
With a bit of luck & negotiation you may even be able to get a 4 bedder like this:
5 Milburn Street Quakers Hill NSW 2763 - House for Sale #129024570 - realestate.com.au

From what I understand north side of M7 is the newer area and has better demographics so try to see if you can snatch up something north of M7 and within close distance to the train station (ideally less than 1km) which will also help with your door-to-door commute.

Cheers,
David

 

I share your sentiments completely. The land component may sound cheap but you are getting a postage stamp sized land. Then you add the high construction cost, holding costs, dealing with builders, etc and the numbers or business case doesn't stack up.

Is there a reason you want to buy now and not wait until the dust settles a little from all the lending changes?

Also is this for investment or owner occupied purposes?

 

If you work in city then commute from QH will be a pain as there's only 5 train between 7:30 and 8:30am which take almost an hour to Wynyard.
With the mtero although the commute time from Rouse hill will be pretty much same , you still have trains running every 4 minutes.

 

I totally agree it's nicer at the moment.
But I feel it's priced fairly.

On the other hand Liverpool is going through gentrification. I believe $700k today in 10 years will have a better results than most expected.

Any how alot of choices spend a day walking eating shopping in both and compare

 

Balmain, Surry Hills, Newtown.
Look into the history of these places and what type of home ownership existed back then.

 

Just instead as an option, you could try an apartment around Redfern? Walk to Central. No need to worry about transport.

 

It is actually less painful catching a train at QH and going all the way to the CBD than taking a metro at RH and having to change en route at Chatswood. Anh we're yet to compare house prices of the two suburbs.

 

Are you considering investing in these areas or just evidence supporting your friends are making a bad investment?

I don’t think proximity to Sydney CBD is relevant, I grew up in the hills, live in the ponds and barely know anyone commuting to Sydney CBD, there are many other CBD’s closer than Sydney which people can work.

As for marsden Park, there is still large land supply in schofields, marsden and particularly neighbouring new development Elara, into Shane’s Park.
In my opinion there’s a possible oversupply in these areas and will most likely see price decline in the short term.

 

I am looking to buy soon. Unfortunately I dont have enough skills to decide who's investment is good or bad

 

but do we know when will the dust settle.My finances are sorted. I am paying rent anyways. Since this will be for me to live in why bother is what I think

 

true that as well... the other issue I have is school for my 4 year kid