Hi
So I looked at a few places in St Marys and Blacktown. Just would like to know from your personal experience where either is good for capital appreciation when investing?
Also what is the best way to find out the level of capital appreciation in a locale?
Thanks!
To look at historical CG you can find the info online, in property mags and via residex/rp data reports. We've also got some website links which you might find handy here – http://passgo.com.au/property-data-websites.html
Are they good places to invest? There's a really broad question. I know that there's many people on this forum that have IPs in West Syd.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone MeMortgage Broker assisting clients Australia wide Email: [email protected]
Hi JayDee,
Depends what you're after. I just bought a place in South St Mary's in November after months of looking, and am happy with my purchase.
First lesson, just cause it's cheap, doesn't make it a bargain. I narrowed down and looked at dozens of houses in the area over the last few months yet the numbers did not stack up, the properties I did place offers on, majority would sell well above what I thought was reasonable – mostly to investors.
Yet I see huge potential in St Marys and surrounds. Personally I prefer to stay near schools, railways, other amenities, etc.
Just make sure you do your research.Fortunately my place is providing the returns I was after, however I have tightened my criteria as I realise to continue purchasing I need to find better deals which I know are out there.
FYI Penrith Council has reintroduced contributions on Granny Flats, so you are looking at an extra 7k in costs if that was your chosen strategy.
A helpful site that assist in understanding an areas demographics.
http://home.id.com.au/id-community/public-resourcesOr if you find that site hard to navigate, much simpler, less detailed:
http://www.myrp.com.au/ttsvr/n/free-suburb-profile-report/myrp-410JayDee26 –
You def need to physically go and have a look at the properties in W.syd – the numbers looks great on the computer…but trust me there are def some bad buys out there, even if the numbers stacks up!! took me close to 15 house inspection before i bought my most recent IP.
Id suggest you got to a through house inspection to make sure your comfortable with the area, but most importanly work out what sort of strategy your comfortable with.
Regards
MichaelMick C | Shape Home Loans
http://www.shapehomeloans.com.au/
Email Me | Phone MeSame Banks. Better Rates. Served With a Passion.
Thanks all.
Generally how safe is St Marys? More specifically around Queen St and the station side.
I've noticed it's awefully quite around 8:40pm onwards at the station and Queen St when I went for a 'drive around' last night and the one before.
Blacktown has experienced spike in population growth for the past few years and it has good access to road infrastructure like M4, M7 etc., plus houses, townhouses etc., still affordable compare with other suburb. Not sure about St Mary's since I haven't done much DD on that area.
i'd prefer to invest in blacktown than st marys. Although this is just a general suggestion. It's best if you check out the places there too
Better rail/bus options at Blacktown but obviously more pricey.
Hi all
I’ve been also interested in St Marys. Western Sydney seems to be a good place to invest for capital growth at the moment. I also want to buy in St Marys but I live in Adelaide so I’ve thought of organising several inspections for a weekend and maybe go and have a look.
Adelaide doesn’t seem to be a good place for investing at the moment.
I have made some research about st marys with RPdata and Australian Property Investor. I’ve also seen on internet facilities, train station and schools.
It’s good to know what other people have done to have an idea of how things are there. Any other way/method of research/homework ?
Thanks
Hey Jay,
I have quite a few properties in St Marys. Great place to invest if you find the right place and have a good property manager. Definetly go and have a look yourself but it does have a lot of potential and if you can get a copy of yesterdays sunday telegraph there is a section in there about west sydnrey you will find quite interesting.Tony
Tony Fleming | Triumphant Property Group
http://www.triumphantpropertygroup.com.au
Email MeNSW Buyer's Agent specialising in Western Sydney-Blue Mountains-Orange-Albury
Hi Tony! Thanks for the reassurance.
I plan on getting a unit, not a house in St.Marys. I hope this would still benefit from capital growth and yes I've read the sunday telegraph article its quite interesting.
Hi guys!
I live in Adelaide and I’m not aussie lol so I’m not sure if I can find that Sunday Telegraph here. Could you please share a little bit what was that article about? Only if you can
Thanks very much
Alex
Hi Alex,
It might be on the website if you have a look but it mainly talked about how the outer western Sydney suburbs had large increases in rent and very low vacany rates. There is also another article floating around about it potentially becoming a national hotspot. The areas from memory where penrith/st marys/kingswood/blacktown. Hope this helps.Tony
Tony Fleming | Triumphant Property Group
http://www.triumphantpropertygroup.com.au
Email MeNSW Buyer's Agent specialising in Western Sydney-Blue Mountains-Orange-Albury
Hey,
I'm focusing around all the suburbs with railway lines, and i'd assume so are most people. This leads me to the next question.
For those investing in the area, what are your thoughts on suburbs like whalan, tregear etc?
Further out yet considerably cheaper.You would need look at them in person tho, a lot are in bad neighbourhoods. eg. Saw a property in Doonside where the numbers looked great, upon inspection, it was obvious the immediate neighbours would make it impossible to rent.
NHG
So the comments leads to Blacktown, St Marys etc being high growth areas. One question I had in mind is if this is the case then why do the house owners sell their properties for under $300k in some areas when they could just keep them and wait for CG?
Your thoughts please!
They might be upgrading and the house they want to buy will go up even more.
Some people overpaid in 2003 and are sick of waiting.
Some may have had bad tenants and have had enough.
Some people do not believe there WILL be capital gain.
Some people believe the hype that property values will DROP by 40% (like USA). Papers were full of this as recently as last month.
depends who you listen to.People buy and sell houses all the time for many reasons.
JayDee26 wrote:So the comments leads to Blacktown, St Marys etc being high growth areas. One question I had in mind is if this is the case then why do the house owners sell their properties for under $300k in some areas when they could just keep them and wait for CG?Your thoughts please!If your buying in St mary an Blacktown, you won’t be waiting for CG, because it may be a long wait…just remember who you will be off loading your property too? other investor;
These area are purely for investors who are after good cash flow, say at 6-7% yield…but if you hold the property long enough due to rental increase the yield will be 8-9% in 3 years time. Much better yield if some renovation are done, GF ( depending on the area and street) etc…
Regards
MichaelMick C | Shape Home Loans
http://www.shapehomeloans.com.au/
Email Me | Phone MeSame Banks. Better Rates. Served With a Passion.
Thanks for all those comments, I’m learning from all of you !!!
I need to go to Sydney and have a look!
Hey there,
I’ve had a good sniff around this area and I reckon Blacktown is still a pretty good area to look at. Of course you need to do your research and make sure the place you buy is reasonable – there is a wide variety of property in Blacktown.
Add to this the positives that Sydney has the biggest housing shortage of any city in Australia (according to RP Data) and there has been a lot of investment in developing Blacktown. It’s not hard to get to the CBD (train is right there) and there’s a big shopping centre, good roads etc. etc.
Hope this helps. And good luck with your investing!
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