NSW Where to buy a house to live under 1 Mil

Hi Guys,
Happy New Year. I hope my message finds you well.

I will really appreciate if you can please help with my query.

Me and my partner want to buy a house in Sydney to live in. We are new immigrants hence we don't have much deposit. Our serviceability is decent because of the stable jobs.

Our requirements -

• Minimum 400 sqm lot size
• Max 75 minutes to CBD by train
• If possible 4 Beds 2 Bath 2 Garage
• * We are not bothered about the schools in catchment area

We have set a budget of max 1 million and have visited and shortlisted the following suburbs -

Glenmore Park
Quaker Hills
Gregory Hills
Gledswood Hills
Edmondson Park
Oran Park
Catherine Field
Bardia

We also visited few other suburbs but didn't like the feel (No offence to the residents) for example St. Claire, Riverstone , Erskine Park.

We left our home country 15 years back and since then have been staying in rented accommodations. Because of this we prefer to buy a PPOR. We are not looking for a shiny new house but at the same time we are not comfortable with getting a lot of work done.

Long term goal (15-20 Years) is to buy investment properties in future which should generate income of around 60K per year.

Can you please help with the feedback on the suburbs and suggest any other suburbs we should consider.

Thank you.

 

The under $1M price bracket is shrinking by the month. This price bracket is probably the only bracket that will be sustained continual growth longer term because lets face it not many ppl can afford or will get approved for $2M+ loans and can save a $200k-$400k deposit.

I would say most FHBs fall into this bracket and even someone earning less than $150k a year with a young family this would be approaching their max limit.

I would suggest you buy an older house and fix it up gradually whilst you live there. This will provide the best opportunity to value add at your own pace and over time you will achieve CG as well.

Out of all those suburbs I'd probably buy in Quakers Hill but even here something like this is already $1.055M. You'll need an older home to be under $1M.

https://www.realestate.com.au/sold/property-house-nsw-quakers+hill-138052686

 

Im thinking campbelltown area? Can still get a house under 1m. What are your thoughts on growth in this area @thunderstrike888?

 

Thanks for replying @thunderstrike888. Very helpful.
Can you also please help me to understand that why the areas around upcoming new airport are not preferred. I think Oran Park is set to get their train station in 2026.
We really liked the feel Gledswood Hills but reaching CBD from there is a task in itself.

As mentioned earlier we are new immigrants and don't understand the dynamics yet hence asking. What increases the probability of better CG in established suburbs like Quaker Hills as compared to new suburbs like Gledswood Hills or Oran Park?

 

There's lots of great places around Western and South Western Sydney. Best bet is to drive around & see what you like.

 

If the primary aim is for a PPOR, the question you should be asking that really matters is where you'd like to live, not CG prospects. No suburb in Sydney will stay down whilst its neighbours keep shooting up. Everything is pretty relative.

That said, I would buy in Lalor Park as close to Kings Langley (if not Kings Langley) or Seven Hills as close as possible to the Music Bowl. Good capital growth in those ares is assured.

 

Campbelltown is a growing area for sure. I just prefer Western Sydney (i.e) Parramatta, Blacktown and Penrith way rather than Liverpool and Campbelltown way.

I have friends that live Campbelltown way and I do go there a lot. I find that Parramatta and Western Sydney is much better fit for me. Especially with Parra set to become the biggest CBD in Sydney, there is nothing Liverpool can compete with imho.

Oran Park is decent place. I'm not sure about buying there now but several years ago it was a relatively good buy at that price point back then.

If you want to buy somewhere that I personally feel will benefit the most from the new airport and train/rail infrastructure you need to buy around St Marys/Colyton/Mt Druitt areas. But since you said you dont like St Claire I didnt bother mentioning those suburbs.

St Marys/Colyton/Mt Druitt have gone leaps and bounds compared to when I started there. The gentrification there is awesome now and the pace is picking up. 2026 the new airport opens with first international flights landing which means the entire rejuvenation of the area needs to be completed before then. St Marys is the MAIN hub to connect to the rest of Sydney from the new airport.

If you want CG this is the only place I'd be considering for sub $1M mark. Watch these areas go berserk in the next 4 years and especially when ppl start to see the transformation.

4 years goes very very quickly and its prime opportunity to get some CG there. (well it was if you bought several years ago). Still some decent profit to be made me thinks.

 

You may check King Park or Seven Hills as well. Kings Langley is good but not many under 1mil.

 

I’d follow the train line west of Parramatta and go for the homes closest to Parramatta that ticks your boxes.

 

Quakers hill is a nice suburb with big blocks. Big blocks 500-600sqm with livable houses.

Lot of recent sales for 1.5M if the house is nice.

Basically you are getting a house for free in Quakers hill and just paying for the Land price.

45 to 50 mins to Central by train. Multiple transport options with the metro also within 5-10 mins drive

 

Glenmore Park wouldn't have u in the city within 90mins. For something similar in that council area but closer to a train station have you considered Claremont Meadows?

 

Rooty Hill is 50 minutes away to Central Station by train and just 1 station away from Mt Druitt which is going through a $1.5B redevelopment plan.

This house on 36 Brussels Crescent is recently sold for $895k. You can’t even buy a 450m square block for less than $1M in many newer estates anymore.

https://www.realestate.com.au/sold/property-house-nsw-rooty+hill-138349271

 

Central coast buddy, ticks all your boxes and also access 10 mins to beaches

 

That spiel about parramatta being new cbd was being flogged 20 years ago. Who goes to parramatta these days. It’s not as it was before because other micro suburbs have shops etc not requiring to go parra.

 

Becoming the biggest CBD is NOT a 5 or even 10 year job. Its a 20+ year vision and its finally coming true.

You obviously have not been there lately. Its night and day difference. I was 15 years old 20 years ago and back then Parra was already quite huge.

Parra is jam packed EVERY single day. You should get out of your little bubble.

 

Doesn’t the trains from seven hills pretty much bypass parra train stop. Metro access is where the growth will be and can be seen already. Parra has become a ghost town city with all those high rises being built.

 

No all trains stop at Parra

 

What? there is NO train that bypasses Parra. It is the MAIN station its like saying bypass Central. LOL. And have you seen the development of the Metro in Parra? Its HUGE and spans a massive area.

Parra is a ghost city? Hahahaha you are seriously delusional or stuck in a hermit cave. Where the hell are you living in Sydney?

I know for sure your just talking out of your backside and you've never even stepped in Parra.

I just came back from Parra has an extremely nice bowl of Vietnamese Pho at Pho Pasteur on Church St and its a thriving this morning. Packed today even in this downpour.

 

^^^

Came for the property chat. Left hungry I must say!!

 

If Parra Pho is your standard then i'm afraid it's below par