If you are looking for capital growth then the kellyville/rouse hill area still has some way to go in my opinion. However, there are many conflicting views about the area – I listened with interest to John Edwards from Residex who is convinced that the terrible infrastructure, small blocks of land, bad housing design and lack of ‘greenery’ in the area is set to cause a turnaround in price movements.
Despite thiss, the population is growing quickly, there are new shops going in (mungerie park), roads being upgraded (windsor/old windsor rd) and flow on effects from the M2…plus the potential long term for a rail line or transitway. I lived in the area for 18 years so if you want more of my opinion please feel free to email me at [email protected]
-Nick
PS. It’s a shocker for rental yields!!
“Be courageous enough to act immediately…and never be afraid to dare” – Mark Fisher
Hi Big Cat,
Look around the Hawkesbury area, especially Bligh Park and North Richmond. There has been enormous growth there but I feel theres plenty to come.
No positive cashflow though!You tend to get good tenants in those two areas. South Windsor is another riskier bet, it hasn’t seen the growth of the other areas because of it’s name alone, I see it catching up in the near future. But that isn’t for certain.These areas are much cheaper than the hills areas and see simmilar growth figures, a better start if your after a neg geared cap gain property to start you off.
hope this helps.
Cheers
Scott S
P.S. Also try Wilberforce, Glossodia, and Freemans Reach areas, they also have very good growth rates.
“Aim for the stars and you’ll shoot the top of the telegraph pole. Aim for the top of the telegraph pole and you’ll shoot yourself in the foot!”
-anon
yes, i’m thinking about the negative gearing thing. right now i don’t know whether i should go for acacia gardens area or plumpton – only because they have home/land package for me to start with. what do you all out there think?
Big Cat,
Personally I’d stay away from the house and land packages and organise the lot myself.
buy a good bit of land (any of the areas you’ve mentioned are good), and find a builder to build you a house or even better a duplex. This way you keep the money that the house and land marketing guys normally get. A friends mother did this recently and built a pair of duplexes for about 270K, and by the time she got them revalued just after completion they were worth 295K each, mind you this was when the market was moving fast, but still to buy the same thing, at the time she built them, would have cost approx 195K each!
Thats a 120K profit without the cap gains! Worth the extra hassles I think, and it really wasn’t that hard according to her.
Hope this helps you,
Scott S
“Aim for the stars and you’ll shoot the top of the telegraph pole. Aim for the top of the telegraph pole and you’ll shoot yourself in the foot!”
-anon
[]Hello! Big Cat is back! Thanks to all who has responded. Dave, thought you’d notice that I’m only a newbie, so I don’t understand what you said about positive cash flow/wraps, etc etc.
Scott! You’re right about DIY, but I’m not sure where I can find land that’s still cheap enough for me to buy, then more money to build. I will look into it though….[]
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