NSW What's wrong with Lakemba?

Discussion in 'Where to Buy' started by Shawn, 1st Apr, 2016.

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  1. vbplease

    vbplease Well-Known Member

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    I'm not from Sydney and I probably couldn't distinguish the opera house from the harbour bridge but I know lakemba is a very undesirable suburb from seeing a few abc/sbs doco's.

    At what point do ppl start looking outside Sydney? $450k will get you a 2bedder in a blue ribbon suburb in other capital cities..
     
  2. ej89

    ej89 Well-Known Member

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    Don't do it.
     
  3. WattleIdo

    WattleIdo midas touch

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    Harris Park is easier and more convenient ... wait 3 or 4 years for that one. Lakemba will give another round of bargain basement prices in a few years and then it'll be all over, too late.

    One of the main reasons you can still get bargains in the SW is that borrowing money brings religious conflicts for many Muslims. Some will never borrow money as a matter of principle because - something related to the belief that charging interest is not right. But they're getting on top of it in Australia with innovative banking methods that can somehow get around this issue. Another reason why families pool together and buy things out-right. Aussie born and new methods will soon see more competition to buy in the area.
     
  4. ej89

    ej89 Well-Known Member

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    I'd say 100% of my muslim mates who own houses have a mortgage against it.. The ones who don't borrow from the bank are the minority of the minority..
     
  5. WattleIdo

    WattleIdo midas touch

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    There you go, changing already. I probably taught their parents English 10-15 years ago. Although we know different people, I think the group I know is not a small minority.
     
  6. ej89

    ej89 Well-Known Member

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    Nah what I'm saying is nothings changed. The ones who have wanted houses have bought them through banks since coming to Aus
     
  7. Befuddled

    Befuddled Well-Known Member

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    Go on a weekend and have a walk through the main street. Might change your view of the place. Yes, there is petty crime but the place reminds me of ashfield about a decade ago. Lots of shops and convenient. Definitely gentrifying. Property prices in recent years have been driven up significantly and there's quite a bit of mid density developments going on. Most likely out of OPs price range now.

    I'd have no issues living in campsie but I wouldn't touch the stations between belmore and punchbowl with a 10foot pole as far as ppor is concerned
     
  8. Amberlee

    Amberlee Active Member

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    Best mixed plate EVER at Yasmins restaurant in Lakemba. Mmmmmmmm. Yum. Cheap too.
     
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  9. Nick Valsamis

    Nick Valsamis Well-Known Member

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    There's Jasmin Lebanese Restaurant in Lakemba. They have good reviews so worth a try.
    There is also Jasmin 1 in Punchbowl in case anyone goes to the wrong one.
     
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  10. Amberlee

    Amberlee Active Member

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    Ah yes, Jasmins not Yasmins. Been a while since I've been there. :)
     
  11. TFBoy

    TFBoy Well-Known Member

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    Agree with Campsie, phenominal price growth over the past 6-7 years. Current house prices are Comparable to likes of eastwood/hurstville, surpassed areas like kingsgrove, beverly hills.
     
  12. Azazel

    Azazel Well-Known Member

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    For your PPoR? Nah, go for it. They've been heaps less shooty lately.
    What could possibly go wrong?
     
  13. WattleIdo

    WattleIdo midas touch

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    I don't know your friends I just know the people who told me they won't borrow money and I've met quite a few. :).
     
  14. Shawn

    Shawn Well-Known Member

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    Hey all,

    To give this post some context I am an indian guy who's grown up in the likes of Blacktown & Glenwood (5km north of Blacktown).

    I understand shady characters will hang around the station at night. However having lived in a house all my life I am concerned that now I may have shady characters sharing a wall with me or living above me..

    I'm trying to move out and go off on my own but with Sydney prices as they currently are I'm at a standstill as to what to do.

    Maybe its time to buy in Goodna @See Change
     
  15. ej89

    ej89 Well-Known Member

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    You will get plenty of shady characters in Goodna don't you worry lol
     
  16. neK

    neK Well-Known Member

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    Lakemba hasn't changed much over the last 6 years - relatively stable.

    Its on the only suburb where people park 2/3s over your driveway and when you ask them to move they respond back "nah mate you can squeeze thru" or worse yet, they park there and walk off.

    Then there's just the general nature of some of these people.

    That said, it is the minority, but these guys do it that frequently that it comes across as they are majority.
     
  17. hash_investor

    hash_investor Well-Known Member

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    Why Lakemba and not Blacktown? This seems to be in your range?
    4/13-19 Devitt Street Blacktown NSW 2148 - Unit for Sale #121889334 - realestate.com.au

    or check Wiley Park, they have better demographics than Lakemba
    5/61 Cornelia Street Wiley Park NSW 2195 - Unit for Sale #122227810 - realestate.com.au
     
  18. neK

    neK Well-Known Member

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    How so? Its the same people that live in Lakemba to Punchbowl.
    Also LOL @ your username, the first time I walked into Telopea St, that is what i got offered. haha
     
  19. gach2

    gach2 Well-Known Member

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    Not part of the race or religion but this has to be the one of the most incorrect statements of property chat

    I dont have any statistics on loans but i dont buy that statement at all

    After people of asian background (lot more in numbers in Sydney and the world) there the next biggest background that i seem to see at inspections/auctions in Sydney

    Of peers/colleagues i meet they seem to be one of the earliest to buy their first home (other ethnic backgrounds also seem to be early too)

    Most common 'aussie born new method' I see from peers/colleagues etc is to move out of home at 18, rent and blow money travelling the world on credit cards and then complain they cannot afford a home in sydney (this statement is probably nearly as bad as the one im replying too)
     
  20. gach2

    gach2 Well-Known Member

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    To the OP

    Gentrification has occurred in Lakemba
    People could be same, habits could be same but definately wealth as increased (not referring to drug money/illegal sources)

    Although yes it is probably considered cheaper/worse of compared to neighbouring suburbs