NSW Western Syd vs Blue Chip Syd vs Regional

If you had a budget of 800k and looking for a GROWTH property, where would you buy?
1. House in Western/South western Sydney with development upside
2. Unit/villa/townhouse in Sydney's blue chip inner/middle ring suburbs
3. A well located regional property
There seems to be a lot of discussion on the potential of Western Sydney (affordability and upcoming infrastructure). But at the same time, there are those that only favour blue chip as a safe growth option. Keen to hear some unbiased and evidence-based thoughts?

 

I'd choose option 1.
House, not apartment/townhouse.
Of course, choose your house well.

Sydney has land constraints, it's easy enough to build apartments but it's the land that's the asset that is finite here.

In 2010 I bought a townhouse in Greenacre around 310k. It's worth around 500k now.
But if I had paid about 450k on a house there at that time, the house would be worth around 1mill.
People want the freestanding non strata houses.
There is a market for the strata properties, but new higher density property easily comes onto the market so it still ends up as a buyers market, much more than standard houses.

 

Western Sydney!!!!

 

Can see that coming from you, ha.

- - -

With the $800k budget Western Sydney is a great option although you will have to get into the market quick - prices are going up fast.

 

Liverpool.
$800k will do ok.

Going nuts at the moment. 6 months ago $800 would buy a nice home.
Now you may have to go to Casula/Lurnea.

 

Yes I couldn't agree more. I, also, in 2010, purchased a newish high rise apartment in Hurstville for 370k, it's worth around 500k at the moment. On the bright side , I didn't lose money like many others that invested in high rise apartments, but if I bought a house in Western Sydney back then, it would've been a whole different story!

 

Western Sydney has created more millionaires than I can count on my two hands from your average joe blow I went to school with. My group of close friends that we've known each other since grade 3 in primary school all the way through high school and even some going to university together - I would say majority of them are millionaires now because of housing in Western Sydney.

 

Newish Highrise… yeah, not the best. Hurstville has so many apartments now….
On the positive side…. Lots of locations in Australia have done worse…

 

I'd also choose option 1.

 

800k with development upside seems unlikely unless not close to a train

 

The Druitt will be pumping out millionaires faster than a local lodges their Jobseeker forms.

Go with the flow, the West is the go.