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NSW Warwick Farm or Liverpool

Discussion in 'Where to Buy' started by dabbler, 22nd Jul, 2015.

  1. dabbler

    dabbler Well-Known Member

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    Have not been watching Sydney much, but now, for some reason started looking at small older units, was originally going to go Bankstown, but.....

    I know there are complexes going up everywhere, but new 2 bedders I assume will be 100-150 at least over older stock, so they should not be highly effected if large over supply and problems for those come financing at finish time, thoughts ?
     
  2. Rockys

    Rockys Active Member

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    Hi dabbler, the market for the 1970's built units in the area is still strong imo. I personally think its too late to be getting in to this market.
     
  3. gach2

    gach2 Well-Known Member

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    replying to the title
    whats the price difference between the suburbs?

    Warwick farm generally had a bad stigma in the past but as liverpool improves so will warwick farm so if there is much of a price gap between the suburbs at the moment i would see that to come closer

    Note: i do not follow unit prices - but i have been following house/land prices and can see there is a big difference at the moment (comparing similar zoned and sized land between both suburbs)
     
  4. dabbler

    dabbler Well-Known Member

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    They seem to be pretty similar.

    Are the train stations similar, it looks like Liverpool may be a bit better as more options direct from there.....but I have not ever caught a train from around that area.
     
  5. dabbler

    dabbler Well-Known Member

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    Well, all of Sydney is too hot, but they are lower than I would have expected, so maybe with a correction, not as much to drop off.
     
  6. Biz

    Biz Well-Known Member

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    Liverpool aint improving dude... ask anyone who has lived out there for 20+ years.
     
  7. dabbler

    dabbler Well-Known Member

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    lots of places that are hot now were always poo pooed a few decades ago, or even a decade.

    I can tell you, Liverpool is no Bankstown.

    I was out there weekly 25 or so years ago, have been around there a bit last few years. Over quite a few years, know many people who have moved from closer to CBD to surrounding Liverpool areas, none have left ?

    What do you think of those areas vs Bankstown area ?
     
  8. teg499

    teg499 Well-Known Member

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    What do you base your opinion on?
     
  9. Propertunity

    Propertunity Exclusive Real Estate Buyers Agent Business Member

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    We've been buying units for clients in both Liverpool & Warwick Farm in the last few months - just chasing the last of the 2brm unit stock that can be purchased for just under or over $350K. I think the days of <$350K purchases in SYD are almost over.
     
  10. Biz

    Biz Well-Known Member

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    Living here for over 30 years.
     
  11. dabbler

    dabbler Well-Known Member

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    Hi Alan, what are you buying in the 350 range ? 2 1 1 lockup or car space ?
     
  12. Propertunity

    Propertunity Exclusive Real Estate Buyers Agent Business Member

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    2,1,1 with LUG or space, yes.
     
  13. teg499

    teg499 Well-Known Member

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    @Propertunity
    Do u rekon prices of 1970’s/80's warwick farm/liverpool 2br units will ever fall below 350k, or this is the new price point. I know a few years ago thses units were selling for mid $200,000's!!
     
  14. Propertunity

    Propertunity Exclusive Real Estate Buyers Agent Business Member

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    In a downturn, which we are clearly not in at present, the lower priced properties usually only fall 5% or so. The higher priced properties can fall 20% if it gets really bad. That's why we always but at or below the median price for investment, to mitigate that risk.

    BTW, I am not anticipating a fall anytime soon.

    I do think $350K is the new baseline price-point in these areas. The rents are approx 5% too - so no reason for any drops on my radar.
     
  15. Propertunity

    Propertunity Exclusive Real Estate Buyers Agent Business Member

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    Quit living in the past :)
    Everything in real estate was always cheaper "a few years ago".
     
  16. Biz

    Biz Well-Known Member

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    In the early 2000's boom those units were going for mid 200's five years later you could pick them up under 200k.
     
  17. WinDyz.

    WinDyz. Well-Known Member

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    When downturn come, it's not only Sydney that will get hit. Every state in Australia will get hit.
     
  18. Biz

    Biz Well-Known Member

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    Depends on the downturn. I was just giving an example of how those units in the past have fallen by a lot more than 5%. That was also at a time when there was no where near the amount of new units there is in now in the surrounding streets.
     
  19. Propertunity

    Propertunity Exclusive Real Estate Buyers Agent Business Member

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    Here's the numbers for Liverpool units:
    upload_2015-7-22_13-48-52.png

    They've only had 3 negative growth years out of the last 19. Nothing to complain about.

    It's true that you could buy a median priced unit in 2002 for $210K but the median did not drop to under $200K anytime since. (obviously you could buy units under $200K as the median is just the mid-point).
     
    Mayjong and Biz like this.
  20. Biz

    Biz Well-Known Member

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    Thanks for posting the historical numbers Prop.


    True, not bad in the long run but do you think it's the best bet for 350k over the next 5 years? We might have a solid year ahead but after that likely red red red. As I said also there is a LOT of supply coming on board over the next 24 months.