Hi,
i am looking to purchase an investment property under $350,000 and would like your thoughts on whether Granville or Ambarvale would be a better prospect. would like some CG and a reasonable rent return.
Thanks
Personally, I would prefer Granville although its ethnic diversity is diminishing ie becoming more concentrated whereas Ambervale has a lower socio-economic demograph. Blocks are generally regular in shape around the area, most are over 600 m2. There is a good train service (main western line and southwest line). Good access to Parramatta. Houses are generally 50+ years old a(read fibro) but over time, these properties will be sought after for redevelopment at land value.
Ambervale will over the next few years suffer greater unemployment due to the low skills base found in the area. The closest industry is located at Minto/Campbelltown/Wollongong. Improvements to the rail line have been delayed (scrapped). Housing stock is newer than Granville however it is cheaply built b/v cottages.
Find a larger property if you can in Granville.
Stay away from Ambervale, its going to stay a low class, dumpy area for the next 30 years. You will get no capital gains and have low class tenants ( read trouble ).
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