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NSW Wentworthville, Pendle Hill, Toongabbie - Suburbs on the Parramatta line

Discussion in 'Where to Buy' started by MsAli, 12th Mar, 2016.

  1. MsAli

    MsAli Well-Known Member Premium Member

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    Hi All,

    Since I have an interest in Parramatta surrounds, wanted to shed light on the areas of Wentworthville, Pendle Hill and Toongabbie. These three suburbs are shared between a combination of city councils - Holroyd, Parramatta & Blacktown. I think the Parramatta side is the nicest.

    Location
    • 35-37km from CBD
    • 35 min train to the Central station
    • <10min train ride to Parramatta
    • Minutes drive to The Great Western Hwy and the M4
    • 15 min drive to the Norwest business park
    • 15 min drive to Blacktown CBD
    • Not too far from the hills - I find these areas have always been undervalued compared to the closest hills suburbs
    Commute wise it's quite central as you can access both the West and the city via train.

    Gentrification
    Seems spending in the area is ramping up. All three suburbs have had a lot of re-zoning in the recent years. A lot of gentrification is happening with duplex builds popping up. Most houses are old and ripe for development. While the newer ones (or bigger ones although a tad old) are tightly held so this will push prices for the fibro blocks to knock down and rebuild.

    Pendle Hill
    • Dyldam bought the Bonds factory and are building 146 units
    • Train Station upgrades on the cards
    • Serviced by a small Woolworths, Post Office, Dry cleaners and other grocery shops
    • Units: Ranging between $430k-$460k (Renting ~$400 per week)
    • Houses: 750k+ for old Fibro 3br knock down homes on 550sqm blocks (Renting ~$460 per week)
    Toonabbie
    • High density units coming above the Woolies building 30 shops to also go in
    • Another additional 20 shops around the area will be established in the near future
    • Train Station upgrades on the cards
    • Very convenient as well with a big Woolworths, Post Office, Gloria Jeans, Dry Cleaners, CBA Branch, a number of food shops (Sri Lankan, Indian, Thai, Turkish) on the main street.
    • Units: Ranging between $430k-$460k (Renting around $400 per week)
    • Houses: 630k+ for old Fibro 3br knock down homes on 550sqm blocks (Renting ~$460 per week)
    Wentworthville
    • High density development also progressing
    • Most convenient location with the shopping precinct being the best out of these three suburbs - Woolworths, IGA, Aldi, Officeworks, Doctors, Dentists, Salons all available
    • Train station upgrade is in progress
    • Units: Ranging between $460k-$510k
    • Houses: 800k+ for old Fibro 3br knock down homes on 550sqm blocks (Renting ~$460 per week) - various $1m+ sales as well for blocks greater than 700sqm
    Note the prices are for established units. Off the plan / brand new units in the areas 1br are selling from $450k and 2br $520k to $560k.

    Oversupply Risk
    Potential over supply in the areas due to the development happening. Main streets are busier than ever due to the increase in population. Getting a little difficult to find parking! (May be something that had to be considered before re-zoning!)

    As for buying now - I would wait till the market corrects a bit. It's a good place to be buying in the next downturn due to the compound effect expected as part of the normal cycle.

    Conclusion

    Prices have effectively doubled from the peak in 2004. Although, supposedly, not as desirable as the hills, I see good prospects for Wentworthville, Pendle Hill and Toongabbie. Things are certainly looking up for the areas especially with the train station upgrades the residents have been looking forward to. It would be wishful to think these areas will fall a lot (an agent said to us in the last year or so that we'd soon be seeing 1m plus fibro homes and that isn't too far). Owner occupiers from certain ethnicity are preferring the areas; Apart from the apartment supply, I don't see the areas pulling back other than the typical cyclical impacts.
     
    Last edited: 12th Mar, 2016
  2. York

    York Finance Broker Business Member

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  3. samiam

    samiam Well-Known Member

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    thanks for great analysis
    they are serviced by "slow" trains though; have to wait 30 -45 mins off-peaks while all "fast" trains pass by these stations...
     
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  4. MsAli

    MsAli Well-Known Member Premium Member

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    Hey samiam - that's true. But liveable if you travel in peak hours. It's something that's been raised with the local member whose not in power right now and I haven't seen much response.

    Having said that I'd go for the trains over buses. Someone was telling me they were moving from Castle Hill to an area with the trains as the buses became too unbearable to travel in.
     
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  5. Shawn

    Shawn Well-Known Member

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    I catch a 7.40am train from Seven Hills station that passes by these stations.

    It's an express that goes Westmead Parramatta Redfern central.

    I don't think it's an issue during peak hour which is when most people travel. I am considering a PPOR in Toongabbie later this year
     
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  6. Jennifer Duke

    Jennifer Duke Well-Known Member

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    Sometimes I get on the "all stops" trains as there are fewer people on them. But they tend to only be regular in peak hours.

    Wenty is amazingly busy these days...
     
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  7. Shawn

    Shawn Well-Known Member

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  8. ZachAnsel

    ZachAnsel Well-Known Member

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  9. devank

    devank Look, lets just get on with this, ok? Premium Member

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    Generally you can switch to the fast train at Westmead easily. Fast train comes to the next platform. You don't need to walk up and down.
     
  10. C-mac

    C-mac Well-Known Member

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    Great thread @MsAli thanks for the numbers and on-the-ground updates.

    The units and apartments ramp-up is really the same story as everywherr with cranes on the skyline in Sydney right now, that part doesnt concern me so much.

    I also see opportunity in the Parramatta proximity but also these suburbs might feel the benefit from Badgerys Creek airport once that ramps up.

    Though the Disneyland rumors are a longshot, if Disney did build their theme park near to Wet n Wild then these areas would explode, what with the jobs and tourism that the theme park would create for the area. Again, long, long, long shot but worth mentioning nonetheless
     
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  11. Daniel007

    Daniel007 Well-Known Member

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  12. MsAli

    MsAli Well-Known Member Premium Member

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    Yeh thought they aren't talked about enough and do present good opportunity. These have the fundamentals to continue performing. It helps to have formed networks with the agents in the areas here.

    That's great news if the rumor is true. Where did you hear that @C-mac?
     
  13. ZachAnsel

    ZachAnsel Well-Known Member

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  14. flygo

    flygo Member

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    Bought in Wenty in 2013, always think it is an area with good potential.
     
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  15. Jennifer Duke

    Jennifer Duke Well-Known Member

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    I get on the 6.06AM from Mount Druitt, so sadly I don't fit your timetable!
     
  16. Mumbai

    Mumbai Well-Known Member

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    Plan to sell up in Pendle hill or toongabbie @MsAli ?
    Jokes apart, a 4 bed renovated house sold for 900 last week on my street in girraween. It's just insane. I agree with you though. It has good fundamentals. Infrastructure is ramping up. There are good schools around.
    My only worry is these suburbs are becoming very heavily Indian/Srilankan populated. Not being racist, but I like too see a good mix of cultures. Greystanes is a good example.
    My 2c.
     
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  17. Shawn

    Shawn Well-Known Member

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    Wow you work early :) I do catch the 6.19am from Seven Hills from time to time though :)

    @Jennifer Duke
     
  18. MsAli

    MsAli Well-Known Member Premium Member

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    From the Elders Toongabbie FB page:
    upload_2016-3-17_21-42-50.png
     
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  19. Jennifer Duke

    Jennifer Duke Well-Known Member

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    Well if you're on the early train let me know. Not sure ours even stops at 7hills, but I'm usually half asleep by then!!

    I'm an earlybird heheh.
     
  20. hugo.bawlz

    hugo.bawlz New Member

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    @MsAli great post. Can you recommend a good PM in the area? My PPOR is currently in Toongabbie but I'm planning to move and rent it out