Hi all – wanted to get your thoughts on investing in the Western Syd area.
I've been considering the area recently and understand that the area may have increased in growth during the last 3-4 years or so.
I'm speciifcally looking around the Erskine Park, St Clair and colyton areas for 3-4 be houses.
Are there any specific events or plans in the Western Sydney area in respect to infrastructure in the near future, and is it an area that has minimal house supply?
In addition, what are the medium term (say 5-10 year) growth prospects likely to look like given the current situation and future potential infrastrucure plans.
Any thoughts from people who have invested in the area, or are looking (or have looked) in the area would be great.
regards,
ajay
I think you've missed the boat. Western Sydney has had great growth in the last few years.
Property is very hot out there and things are flying out the door as soon as they hit the market. You'd be hard pressed to get a decent price now.
As regard to growth I think it still has some more growth there. This may be wishful thinking as I'm going to sell a few in the next year or so. But seriously I'm not the only one saying that.
I don't have specific purchasing info on Erskine Park, St Clair or Colyton though. What do you mean by minimal house supply? As in lack of properties to purchase? Yes because they are all being snapped up quickly (mostly by investors it seems). So vacancy rates have risen a bit in Western Sydney in general (but still low by comparison). Rents were climbing in 2010-11 but have stabilized now.
Rail projects – south west rail link is under construction.
Catalyst wrote:I think you've missed the boat. Western Sydney has had great growth in the last few years.I tend to agree.
I'm seeing re-valuations for properties that clients bought out west only a year or two ago coming back a fair bit higher without any huge modifications to the property.
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]
Hello,
In the Erskine Park and St Clair areas, is there much more land available in these areas to build more houses? That was my question regarding supply of houses in that area – is the governemtn approving additional houses to be built in Erskine Park and St Clair? If not, there would be a limited supply of houses in that area, which should continue to drive prices up, although it may not be as signfiifcant as it has been in the past few years.
If it was the Northern beaches your thoughts make sense but this is the western suburbs. There are lots of suburbs out west where houses can be built. I don't think people HAVE to live in St Clair for example.
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