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Top Unemployment Suburbs

Discussion in 'Property Market Economics' started by York, 23rd Sep, 2015.

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  1. York

    York Finance Broker Business Member

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  2. D.T.

    D.T. Adelaide Property Manager Business Member

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    Not really surprising results. They're all kinda 'bogan' areas in the list.

    Whether it affects investors depends really. Would I invest in those places, yes. I think employment is only 1 piece of a many piece puzzle :)
     
    Last edited: 23rd Sep, 2015
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  3. JohnPropChat

    JohnPropChat Well-Known Member

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    Didn't think Mirrabooka would be the top in Perth. Bogan suburbs do and will go through gentrification, just a matter of when.
     
  4. 2FAST4U

    2FAST4U Well-Known Member

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    30 years?
     
  5. HUGH72

    HUGH72 Well-Known Member

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    If I was going to be long term unemployed and had to pick a place to 'hang out' I don't think you could pick a better spot than Palm Beach on the GC or Marcoola on the Sunny coast.
     
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  6. Tekoz

    Tekoz Well-Known Member

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    So what if the majority of the people works cash in hand ?

    Does that considered as unemployed ?
     
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  7. JohnPropChat

    JohnPropChat Well-Known Member

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    Depends on growth drivers. Some bogan suburbs have everything - public transport, hospitals, local employment, schools and colleges. While wealthy individuals may not be keen on buying there, first home buyers do. When enough bogans move out it's already on a path to gentrification. However, it takes a generation to forget about the stigma that was once there.
     
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  8. Tekoz

    Tekoz Well-Known Member

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    So it's like Redfern and Surry Hills in Sydney city, it used to be a bad place but now it is one of the blue chip suburbs.
     
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  9. 2FAST4U

    2FAST4U Well-Known Member

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    Sometimes it takes more than a generation. Broadmeadows and Elizabeth have been full of bogans since the 1970s. I’m not sure about Broadmeadows but at least for Elizabeth the only time it was a desirable place to live was back in the 50s when it was first developed. At that time it was the 10 pound poms that came over and settled. Even then it was still difficult to attract middle class families to the area.
     
  10. York

    York Finance Broker Business Member

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    Definately I'd pick a beach spot too....if I'm doing nothing....might as well have a view and go for a swim...
     
  11. 2FAST4U

    2FAST4U Well-Known Member

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    Good examples. Maybe in 30 years’ time Liverpool will be the new Leichardt and considered inner city. Sounds crazy but the way things are going who knows.
     
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  12. Tekoz

    Tekoz Well-Known Member

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    @2FAST4U yeah, who knows mate, these suburbs in Sydney might become desirable:

    Blacktown, Bankstown and Liverpool
    If one of those suburb become the 3rd CBD after Parramatta in the next 20 years, then it might be possible to see house price reaching $1m mark like Lower North Shore Sydney suburbs.

    Auburn, Lakemba and Punchbowl
    When and how long until the first generation of the people moved out or passed away.

    Mt. Druitt, St. Marys and Penrith
    How long to wait (negative gearing) until the Badgery Creek is opened thus creating more jobs for the people living in the struggle st.​
     
  13. York

    York Finance Broker Business Member

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    Hard to say what will be what in xx amount of years. But I tell ya, 30 years ago farmers who bought acreage around the suburbs of western Fairfield (Bossley Park , Abbotsbury etc) were being laughed at by anyone east of Bankstown. Little did they know today these areas are would be fully developed subutbs and fetching over 1k per Sqm of land no house. These areas were considered the sticks, yet now developments are coming up 30 min WEST of this area (over 1 hour to CBD) Harrington Park, Oran Park etc. Due to affordability these areas are have sold up too. Now the developments are moving further west and south past Campelltown.
     
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  14. Tekoz

    Tekoz Well-Known Member

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    @York Polides Hopefully they don't become another struggle street or mortgage stress belt like in the Hills during the 2008-09 GFC era.

    last week, the South West Sydney area slows down in terms of the Auction rate.
     
  15. WestOz

    WestOz Well-Known Member

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    Sort of surprising, things will change all around that area when State Gov (whichever party) gets serious about public transport