best suburb to live in Sydney west for 500K

[alexlee]

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 agree with all the above, but I also expect PRICES to fall. While rents are strong and the rental market is tight, in general rental yields are still not high enough to independently support prices.

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.

As long as your parents didn't lose their jobs, it probably didn't impact on you that much as a kid. This is going to be the fun one because we're going to be in the middle of it!
Alex

 

[stumunro]

i will keep the seatbelt strapped in, it will be interesting in the least! Meanwhile after my next purchase I think I am going to let the LVR's build up and get ready for the frenzy

 

[Ahmad Azimi]

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.

7-10 years is only the average. It could double in 4years or in 15years. Depends on the area as well. Not all suburbs follow the city or state cycle.

 

[skater]

7-10 years is only the average. It could double in 4years or in 15years. Depends on the area as well. Not all suburbs follow the city or state cycle.

That's right. The question was "Considering 5-10 year goal, do you think prpo prices will hold up /or increase?"

Don't you think it is likely that property will increase in 5-10 years? The last boom ended in 2003, it is now 2007, so do you think it likely that property may cost more in 2012-2017? Of course, you could pick something out the back of Whoop, Whoop, that will remain flat or go backward, but on the whole I know which way I'd place my bets.

 

[stumunro]

p.s skater i love your sig, sounds like you are doing a great job raising your little one

 

[tiger]

Liverpool is only going to get bigger and you can buy a beautiful house there for well under 500k, even under 400k.

 

[skater]

p.s skater i love your sig, sounds like you are doing a great job raising your little one

Thanks, although she is not that little anymore. Just turned 16 now.

 

[komstak]

Hi Tiger,

How's the crime rate at Liverpool? Couple of years back I had some friends living there. Their homes were broke in a few times. They were robbed several times while inside the Liverpool train station. All got fed up and sold their homes.

 

[tiger]

I used to walk from Liverpool station to home at night on my own (Im female), that was a 1/2 hour walk, never had a problem.

All suburbs have crime, I guess some people just have bad luck with it happening to them over and over again whilst others never experience it.

 

[pirate]

tiger -

i honestly thought that the crime rate in liverpool has increased as of late. IMO this is partly due to the crack down on crime, drugs etc by police in neighbouring area: Cabramatta. So what happend? Well the crime and drug scene packed up and moved to Liverpool area instead.

 

[lenovo]

According to some report granville now is cheapest suburb that is closest to the city. Could anyone please tell me how's the situation there?

 

[Ahmad Azimi]

That's right. The question was "Considering 5-10 year goal, do you think prpo prices will hold up /or increase?"

Don't you think it is likely that property will increase in 5-10 years? The last boom ended in 2003, it is now 2007, so do you think it likely that property may cost more in 2012-2017? Of course, you could pick something out the back of Whoop, Whoop, that will remain flat or go backward, but on the whole I know which way I'd place my bets.

Yes of course it will increase. As you know population is increasing day by day and a new report by ANZ has projected a housing shortage of 200,000 by 2010. With the recent lack of supply and higher demand now, the prospects of having another property boom within the next 3-5years in most easter capital cities are very good.

 

[Witzl]

jumping back to the issue of crime in liverpool... here are some interesting facts about the number of car thefts reported in Australia.... listing the top 50 (ie worst) areas by postcode:

Data is based on ALL thefts reported to the police from 01/01/2000 to 31/12/2006

Top 50 Postcodes for theft
Position - Postcode - Number
1 - 2170 - 7823
2 - 2560 - 6882
3 - 5000 - 5827
4 - 2200 - 4869
5 - 2148 - 4366
6 - 3175 - 4227
7 - 2500 - 3833
8 - 2750 - 3703
9 - 3000 - 3699
10 - 2770 - 3698
11 - 3021 - 3584
12 - 2150 - 3395
13 - 3072 - 3373
14 - 3020 - 3292
15 - 2145 - 3182
16 - 3199 - 3010
17 - 4215 - 2950
18 - 5108 - 2922
19 - 3182 - 2915
20 - 2010 - 2640
21 - 4217 - 2633
22 - 3011 - 2588
23 - 2259 - 2584
24 - 4218 - 2533
25 - 2160 - 2531
26 - 2250 - 2526
27 - 2166 - 2513
28 - 2165 - 2475
29 - 3073 - 2464
30 - 3058 - 2403
31 - 2830 - 2356
32 - 3047 - 2340
33 - 2144 - 2284
34 - 3121 - 2278
35 - 3350 - 2240
36 - 7000 - 2222
37 - 2142 - 2147
38 - 2617 - 2114
39 - 5112 - 2093
40 - 2000 - 2073
41 - 2196 - 2049
42 - 2760 - 2010
43 - 6107 - 2007
44 - 2026 - 1965
45 - 3205 - 1923
46 - 3056 - 1879
47 - 2147 - 1872
48 - 4207 - 1860
49 - 3006 - 1790
50 - 2325 - 1788

 

[Diane]

Crime in Liverpool

Anyone contemplating Liverpool or its suburbs such as Casula can be assured you don't normally get mugged walking down the street nor do you always get broken into. Car theft happens when people leave their vehicle in vulnerable places (railway stations etc.), normally if you are aware and careful there is no problem in this regard. We lived in Casula for over fifteen years and never had a problem. Yes, there were break ins but there are break ins in the best of suburbs too. My mother lived in the Sutherland Shire and was broken into twice. You hear of drug related crime in all suburbs too. The public transport is good in Liverpool and Casula, medical services excellent with bulk billing which makes a huge difference to the family when budgeting. Plenty of public and private schools, great shopping centres, quick trip to the air port via free way and into the city at non peak times. For a place to find an affordable home and bring up a family where you can afford to live it is just fine. Take Glen Regent Estate at Casula, this is a newish housing estate ranging from about 18 years old to brand new. The estate has lovely cycle/walking tracks and plenty of trees. It is not flat and uninteresting but undulating and pretty. There is a great shopping centre two minutes drive away. Buses run regularly and Casula has a rail station. We have rental properties here and they are always tenanted with excellent tenants. The present tenants have been in situ for over five years and love the area. So, don't talk these places down as if it is where you can afford go for it with confidence. In all the years I lived in this area I was never abused or offended but walking through streets of the Sutherland Shire (the so called better suburbs) I was spat on and verbally abused on two occasions. I am now retired and live up the coast but would still be happy to live in the south west if I had to and it was what I could afford.

 

[BV]

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

Decent??
How about wattle Grove/Holsworthy, near the M5, express trains to the city, train station car park. shopping centre, schools.
Cheers

 

[BV]

jumping back to the issue of crime in liverpool... here are some interesting facts about the number of car thefts reported in Australia.... listing the top 50 (ie worst) areas by postcode:

I am sceptical of car theft being an indicator of crime in a particular area.

Also, considering that these days modern motor vehicles are hard to steal
I am actually surprised that car theft still exists.

I am not an insurance assessor but I smell insurance fraud....

Cheers

 

[Witzl]

Also, considering that these days modern motor vehicles are hard to steal
I am actually surprised that car theft still exists.

Modern cars only equate to probably less than 10% of all car thefts... remember there are old cars on the road too

I am not an insurance assessor but I smell insurance fraud....

Hahaha... somehow i might agree with you

 

[komstak]

8 months ago, I was looking at this same property. AV Jennings has just build it and was selling it for 483k. Now the owner is selling it for 545k. Wow! Fantastic increase in price!

http://www.realestate.com.au/cgi-bi...t=&header=&cc=&c=61196824&s=nsw&tm=1205304029

 

[alexlee]

Just because they're asking 545k doesn't mean they'll get it.

I really have to ask: presumably they bought it new. Why sell it after only 8 months?
Alex

 

[Lucky88]

Hornsby area

Wow.

I am always wondering why nobody looks at my neck of the woods?? Berowra. Practically no crime, and this is reflected in the lowest insurance premiums. National park surrounds, a river down the road for water sports. Express trains to the city. Buses to Hornsby. A small shopping centre with friendly faces. The best of private schools just down the F3. etc etc. Yet NOBODY TALKS ABOUT IT!!!!!!

I reckon it must be Sydney's best-kept secret. You can still get really good homes here for mid 500000s

Lucky