NSW Why South West Sydney will perform well

I believe that a lot of suburbs along the Sydney south west line will perform very well in the medium to long-term.
The reason being that the accessibility is there with the coming Metro and the redevelopment interest is high.
But they are not that far.
Gentrification is happening down that line as suburbs that were previously considered to be cultural on glaives are now starting to move towards an inner west vibe.
If there's one thing that Sydney has shown consistently is that accessibility to the CBD wins over stigma issues.

I see many suburbs on the way to Bankstown as undervalued given their position. Sociodemographics are changing but the position so close to the city is not. Bankstown is really in many ways kind of the centre of Sydney on a map.

Bankstown will not become like Chatswood but it's heading 'towards' that. Many similarities. I think the change will be quite radical in terms of the look and feel once the metro settles in. And with a university.

 

There are ALOT of ppl that dont go outside of the eastern suburbs or north shore. They have never stepped in Bankstown and from the news they are probably **** scared of the place.

I love Bankstown, full diverse multicultural thriving hub. There are posts here asking if Parramatta, Blacktown or St Marys is safe.....seriously? What planet are some ppl living on here.

The West and South West will continue to rise. There is a lot of investment going on out that way and Parramatta and Liverpool are set to be huge CBDs. Parra is going to be the biggest within 10 years and actually Parra is meant to be the centre of Sydney - that's the plan anyway.

I was at Bankstown on the weekend. My friend opened a new restaurant there and I was out there supporting his business. Crazy crazy busy out there - mostly asians and middle eastern groups which I feel right at home anyway.

I went to school in Auburn for a few years so all my best mates are all multicultural backgrounds anyway. Love the place.

 

Yeah those middle easterns and asians in the southwest are doing well from what I can see. Have built up wealth over the years. Demolishing the old fibros and building very big houses. Investing. Some of them have made a lot of money over the years.
Anywhere near a train station is very very popular with asian buyers.
Meanwhile Campsie getting more and more 'inner west' vibe. Changing. That is now pushing into Belmore. Lakemba is becoming trendy to visit for a cultural experience (previously just perceived as scary to many).
North and East really is for the elite only. Too expensive to buy.
But Bankstown to the CBD on the metro will be fast. Bankstown is going to go very tall.

 

You are reading Sydney completely wrong .. convenience, transport connections, amenities, restaurants and even some cases schools .. these aren’t the primary price drivers.

Primary price driver in Sydney is perceived image of the suburb .. prestige drives the prices up.

It’s so ridiculous that some suburbs bordering each other and sharing same school catchments and shopping areas have drastic price differences. Wahroonga and Hornsby, Bella Vista and Glenwood .. there are countless examples. I think Campsie also borders Strathfield which is the most expensive suburb in inner west.

Southwest has an image issue and it will be a long time before they have any chance of gaining some sort of prestige.

 

I think "prestige" is wrong too, but also not the point.

The point is pricing and value.

This is less than 1km from the new Campsie Metro, a nice well maintained "red brick" on a very nice street for under $600k:

https://www.domain.com.au/1-33-gould-street-campsie-nsw-2194-2017512994

I can find so many examples of this.

Also less than 1km from the station are some very nice townhouses for sub-$1m:

https://www.domain.com.au/3-60-park-street-campsie-nsw-2194-2017292490

https://www.domain.com.au/11-8-thorncraft-parade-campsie-nsw-2194-2017418236

https://www.domain.com.au/4-16-nicholas-avenue-campsie-nsw-2194-2017343175

This is insane value. Inner-south west to mid-south west Sydney kind of reminds me of Brisbane in some ways. The numbers never made sense - it seemed too good to be true.

 

Definitely great value - I used to live in nearby Ashfield and know Campsie street by street. It’s an amazing suburb with all the food options and the new metro will make trip to city a breeze … Would Campsie become a desirable suburb? I don’t know.

 

Desirable? Maybe. In fact I'm going to say yes I think it will, if you look at gentrification elsewhere. And the Metro is going to be huge IMO, I think it takes you to Chatswood in like 30 mins? That's insane.

Prestige? Nah. But again I don't think a suburb has to be prestige in order to gentrify sharply or be seriously good value.

 

With Sydney it’s tricky .. Hornsby is 100% gentrified, more closer to public transport, restaurants, prestige schools yet half the price of Wahroonga .. even some Wahroonga streets on the Hornsby side of Pennant Hills road command a premium just for the address.

Sydney prices aren’t driven by ‘rational’ fundamentals.. it’s a shallow city with deep ‘address complexes’.

 

It already is becoming desirable it's changing.
And the thing you have to consider also is that perception from people on the north shore in the eastern suburbs is only relevant to a degree people who grow up in the south-west are spending more and more outfitting each other on a limited supply of houses and land. They are paying $1000000 sometimes 1.2 million dollars for a duplex in yagoona. That's Lebanese that are buying nose and they are happy about it.
It's a growth area and they have large families.
It's still about supply and demand and accessibility to the CBD it's not all just about what some people think about a place.
People who live in Rose Bay would think a house in ashfield would be quite undesirable but there's plenty of people who would want to have a house in ashfield. (Me included).
I think you should go out to the south-west and have a look. Yes there's some people out there not doing so well but there's also a lot of money out there too. Much more money than there is in your average suburb in Brisbane.
I'm not saying perception doesn't have a big impact on prices but it depends who's perception and it's not as important in the long run as accessibility.
Mount druitt proves that. Redfern proves that. And I believe the south-west will prove that too.

 

I think really my key point in this thread is that the perception that you refer to is really a reason why the south-west will outperform over the medium to long term.
I think it's getting too overlooked considering how convenient it is and that's exactly because of the perception problem but people that creeping further down that south-west line and we are not talking about the demographic coming in closer we are talking about the closer in demographic going further out.
Watch belmore

 

Prestige? Absolutely NOTHING to do with prestige. These are all hard working class families living out there. I know some great people out there who work their asses off and make minimal income for the sake of their communities.

Not everyone makes $150k+. Heck 90% of ppl dont make that. If you grew up without inheritance or some kind of help there is no way your buying in those "prestige" areas. This is where value and potential for growth comes.

No one here is saying Bankstown or St Marys is going to become Vaucluse. Far far from it. But is there potential for future growth and to make money? Hell yeah and thats all we care about.

Then there are ppl like me. Who grew up in these areas and completely love them. Even if I won the 30mill powerball jackpot tonight I'd still live in the areas I grew up in.

Yes Id have a lambo and be wearing a $500k watch but I still would not move away from the West. Thats how many of my best mates are even though they are filthy rich now. Heck one of my best mates has like 40+ properties to his name and still lives in Seven Hills. He absolutely loves it.

Drives a Porsche Gt3 parked in his driveway outside as well. (you know who you are if your reading my post bro.) LOL

 

Yeah this is exactly right I can confirm this is true and it's something that kind of blue me away not being from Sydney.
And that is that people from the south-west who make a lot of money still stay in the Southwest and build a mansion there. South-west is arguably one of the places in Sydney that is physically changing faster than anywhere else like I said the whole mega duplex thing 5 bedroom 3 bathroom duplexes. People are spending quite a bit of money on building that's very obvious.

 

I’m improving the prestige of Mt Druitt by regularly polishing the commodore. People look at my car, a real head turner, especially as I screech by. Can’t work out why they’re frowning though. lol

 

I quite like Canterbury Bankstown LGA but they moved a fair bit last year too right?

Still not sure if over long term, Bankstown LGA or the areas around Seven Hills, Toongabbie will be a better investment though.

 

Yep. Bankstown and surrounds even in Potts Hill has some MASSIVE MASSIVE mansions. All custom built as well. You see these everywhere in the South West actually and in the driveway there is a Porsche for the weekend, a C63AMG for a daily and a GLE63 AMG for family duties. Very common. A lot of money out there. Actually ALOT of money in Western Sydney in general.

 

Houses, sort of.

Apartments and townhouses - absolutely not. Look at the links I posted above. Such nice townhouses and apartments within 700m to 900m from the new Metro station should NOT be that cheap. Seriously, click those links. Insane value.

 

What a great thread. I couldn't agree more. I have personally positioned myself in this area, and bought for a client in Bankstown last week.

I agree that it represents good value, and also delivers yield. The comments above about perception are correct, and it is not for everyone. But it is lively, affordable, and by 2024 when the Metro come through, very well connected. Agree with the "watch Belmore" comment as well.

 

Anything along that new Metro is going to do delicious numbers imo, except for areas that have already gone nuts (Marrickville).

 

May i know why these houses have so many grill windows?
(serious question..)

 

Legacy.

I know a lot of people around there, they tell me they haven't had a break in or knows anyone that's had a break in for decades. It used to be rough, but those days are over. Yet they persist because I guess it's just easier to leave them up.

I assume as newer people move in without that baggage they will go. I know that when I bought in the area one of the first things I did was remove them. I don't have a single house in my portfolio with bars so I wasn't about to start with this!

(I'm talking about 500m and beyond from the train station. I assume crime is elevated around the stations, which is not unusual in most areas).