Hi, I'm looking for IP in area around Quakers Hill. All the number looks good except that I notice many new houses are being built/ land release in nearby Kellyville and Schofields. I concern they will impact on capital growth of Quakers Hills. Does anyone have experience in that area. Please help share your idea. This will be our 2nd IP, the first one in Sydney. Thanks.
It depends where in Quakers Hill you are purchasing. The problem with Kellyville has always been transportation. Generally speaking a lot of people work in the City and hence transportation is important. Quakers Hill has a trainline which makes the commute easier. The big benefit with Quakers Hill is the ability to develop land. The zonings in Quakers Hill are quite good for subdivisions. What are you looking to do with the IP? Rent or Rent and then subdivide in the future?
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Hi Shahin, thanks for the info. I'm looking for a 4 bed room house with scope for cosmetic renovation in the future. We don't have experience with subdivide so the house will be just for rent. In longer term, with more experience, we maybe build granny flat. It depends on how big the land is. Our budget is low 400 k.
As a rough rule of thumb, the only capital growth in many of the new suburbs is because of new house sales not resales of 2nd hand homes (check the stats for resales).
If the adjoining areas have higher prices on face value (yes skewed because of new construction), then QH will look like the poor cousin creating its own market as it is perceived to be cheaper (only because the houses aren't new).
You should be able to find a larger piece of land in QH for $400k. Look for something rentable with a view of either adding another dwelling (house or GF) or subdividing and selling off the vacant land. Either way you need to have a specific strategy in mind.
TheFinanceShop | Elite Property Finance
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yes, one of the reason I look at QH is the price is cheaper than nearby suburbs because the houses are older. I feel that people will see it as a good entry point. Is it a positive factor? sorry if my question seems silly. I'm still new to property investing and uncertain of buying anything further than 20 km from CBD.
I would be looking at QH, walking distance to the station (within 15 minutes) and larger block with the potential to either subdivide or build a GF at a later stage. Have you started to inspect the properties in the area?
TheFinanceShop | Elite Property Finance
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