best suburb to live in Sydney west for 500K

[rdeasy]

Hi,
I am new to this forum.
I am looking for buying a house to live in a decent suburb with reasonable public transport (train/bus) to city, good schools, within my budget of 500K.
It will be good to have some growth in the 5-10 years range.
Where should I look for?

Thanks in advance.

rd

 

[alexlee]

If you're talking a house, maybe around Strathfield? It sits on the express train line.
Alex

 

[Glebe]

Won't get a house at Strathfield for $500k, but Lidcombe is closeby.

 

[Joker]

West Ryde might fit your criteria. Train station, buses and about 20klm from city.

 

[rdeasy]

Options for Outer/Greater west

Hi,

Thanks for the responses so far.
May be I should clarify my requirement.
I am actually looking for independent homes and open for houses in outer west.

rd

 

[twobobsworth]

The sticking point is going to be transport. Particularly if you are after a house. You can still pick up good houses on decent blocks around Kings Langley or Winston Hills but to get to the city I think you have to catch a bus to parramatte then train it.

You could also get something around the newer side of quakers hill within a 10/15min walk to the station.

 

[GreatPig]

How far out is "outer" west?

GP

 

[dwv]

Hi,
I am new to this forum.
I am looking for buying a house to live in a decent suburb with reasonable public transport (train/bus) to city, good schools, within my budget of 500K.
It will be good to have some growth in the 5-10 years range.
Where should I look for?

Thanks in advance.

rd

In North Western Sydney, 10%+ growth is predicted by Residex in the suburbs of Glennwood, Quakers Hill and Kellyville Ridge. I live in Kellyville Ridge and you can still find new houses within your price range. It's close to the T-way and Quaker's Hill train station. It's also close to the New Rouse Hill Shopping Center, Stanhope Shopping Centre and Blacktown Leisure/Sports Centre. You may also want to consider Stanhope Gardens as there are new Newbury homes which are still around 450K... small 4-bedders (200 sqm) but land area is quite big (460-500 sqm). By the way, I don't work in the city so I'm not sure how long it will take to the city (by bus). I've asked some of tmy friends and they said it's around 1-1.5 hrs "comfortable" ride.

 

[skater]

How far out is "outer" west?

GP

Yeah, that's what I'd like to know. You sure can get a LOVELY property with that kind of spend where I am. Or 2 not so lovely ones.

 

[Ahmad Azimi]

If you want west then you cant go past parramatta. You might be just able to squeez in within your budget. But heaps of new townhouses within your budget too. If you want wester than that then "dwv" has very good suggestions. Especially with Quakers hill you also have the Nirimba Education Precent if you want some good schools.

 

[rdeasy]

How about the suburbs wentworthville, pendle hill, girraween, greystanes, toongabbie areas?
I see the proprty prices have rised in these suburbs in the last 3 months.
they are also close to public transports.
my only concern is, now it is not a good time to enter this market...few months before it was good...not sure about the prices in the coming months particularly if govt changes?
any thoughts?

Thanks.

rd:

 

[alexlee]

my only concern is, now it is not a good time to enter this market...few months before it was good...not sure about the prices in the coming months particularly if govt changes?
any thoughts?

Why do you think that it was a good time to enter a few months ago and not now? Property should never be viewed with such a short timespan in mind. Does that mean after you buy you're going to assess the market every couple of months to see if you you bought right or should sell? You'd go nuts.
Alex

 

[skater]

my only concern is, now it is not a good time to enter this market...few months before it was good...not sure about the prices in the coming months particularly if govt changes?

What are you talking about? It's the perfect time, so long as you have the serviceability. Wish I could go another.

 

[rdeasy]

Will prices hold up/or increase in 5-10 yrs?

thanks for your thoughts.

I am looking at the short-term of 5-10 years
What makes you think this is a good time...Considering 5-10 year goal, do you think prpo prices will hold up /or increase?


Rgds

rd

 

[skater]

thanks for your thoughts.

I am looking at the short-term of 5-10 years
What makes you think this is a good time...Considering 5-10 year goal, do you think prpo prices will hold up /or increase?


Rgds

rd

Well, lets see. The last boom in Sydney ended in 2003, & historically property doubles every 7-10 years. So I'll let you be the judge of that.

 

[alexlee]

I always ask myself: do I prefer to invest when the market is BELOW what I think is the long term growth trend, or ABOVE?
Alex

 

[evand]

Thats 7 - 10 years averaged over a much longer time frame. Property can stay flat (or negative relative to inflation) for a very long time.

I feel the fundamentals are not there at the moment in many areas for investing in property. A lot of areas are experiencing artificial growth mainly due to money from a booming economy/resource boom/bull stock market etc.

I say this from an investors perspective. Meaning it doesn't matter what i or anyone else thinks is happening or will happen. The fundamentals are not positive. Especially in Sydney's west/south west.

Why would you negative gear an asset thats is not growing or even falling in price in the hope that some time in the future it will grow in price/be positively geared?

 

[stumunro]

because historically we are seeing the same consistency with property prices as always. it's what we rely on, as property investors, to happen. It's quite fundamental what is happening in Sydney, BOOM stag drop recover BOOM stag drop recover. Now if we are breaking trend and we are going to see 10 years of nothing there would have to be an economical reasons and or an oversupply of properties. We are experience great economy (for now) and there is an undersupply of properties so I can't quite bank on that trend breaking just yet. And i would also suggest that if the markets do get in trouble, there are still many more rich people in sydney to soak up the lower end during this time, which, could be seen as a safer area to have your property invested.

I would be more wary buying into Melbourne and Brisbane which has been showing great growth in the last couple of years, as if they follow trend with Sydney they are going to see 3-4 years of flatness when they do peak. BUT there are other factors influencing this, such as major spurts of population & an undersupply of properties.

 

[alexlee]

It's quite fundamental what is happening in Sydney, BOOM stag drop recover BOOM stag drop recover. Now if we are breaking trend and we are going to see 10 years of nothing there would have to be an economical reasons and or an oversupply of properties. We are experience great economy (for now) and there is an undersupply of properties so I can't quite bank on that trend breaking just yet. And i would also suggest that if the markets do get in trouble, there are still many more rich people in sydney to soak up the lower end during this time, which, could be seen as a safer area to have your property invested.

Why would rich people buy in the lower end? In any case, the 'rich' people are driven by share prices and bonuses. What happens to those when banks and companies start laying off people as profits come down? I think you overestimate the power of 'rich' people. The top people can't support the entire property market: the key are those professionals, managers, etc on the 100-250k salaries. They'll hit the fall first in a recession.

I do agree that lower end properties are safer than higher end properties, but only because I don't think lower end properties will fall as much in a recession. If we have a recession, they'll fall too.

The undersupply of rental properties supports RENTS. It doesn't necessarily follow that prices will go back up.

Property stagnated for years in the 90s, and didn't pick up until the late 90s. Also, you could argue our current 16 years of uninterrupted growth (though it's interesting the 16 years includes the rather bleak years of the early 90s) is very unusual.
Alex

 

[stumunro]

I guess the way I see it is that in a recession the lower end will hold their rental market, as families down size from unnecessary luxurious homes to something more affordable. And i think that coupled with low interest rates means that we can hopefully hold onto our investments during the rough times. I don't necessarily expect rich people to keep property prices up, rather i see them keeping the lower market afloat with rents. The key to this being for investors who are LOE and capitalising interest then it could be a time factor on how long you can hold out under that strategy.

I have never experienced a recession as an investor, but i remember being a kid and the world didn't necessarily fall apart in my eyes. It's quite scary to think what state we would be in during a depression, where people were known to work for staple things such as bread, food.