Blacktown LGA - but where?

[newbie_IP]

Hi All,

After much procrastination due to a new job I have finally got all of my ducks in a line and ready to invest in my second IP. My first is in Newtown NSW and has done very well for me over the last 4 years, however a large number of articles I am reading suggest heading west as this is where CG and some alternative strategies seem to be working quite well - granny flat additions etc.

Having said that the west is quite large and I have selected Blacktown LGA as the first step in narrowing down western Sydney and now want to work out people thoughts on where in that large area?

Bought the Residex report and they indicate that suburbs of Oakhurst, Glendenning, Hassall Grove are all set for good CG over the longer term but wanted to get other peoples opinion and if I should stay in Blacktown itself as it seems to be moving ahead as a city centre?

Be interested to hear all your thoughts on these suburbs/area?

Thanks in advance!

 

[devank]

You will have tough competition in Black town for sure
Out of other suburbs I would prefer Glendenning... But not sure why.

 

[saiman]

You will have tough competition for sure

Second that

A lot of "easy" places are going within days of listing and often at asking prices

There are still bargains around if you are willing to put in some "sweat equity" but otherwise, its time to look elsewhere


In terms of suburbs your better bet might be further out in the Mt Druitt area where many mum and dads who have been reading the articles you have been are still sceptical on old stereotypes

 

[Rolf Latham]

Second that

A lot of places are going within days of listing and often at asking prices

Time to look elsewhere

strong investor demand due to strong rental market especially with granny flat sites being hotly sought.

In a lot of ways I would have though this may be a good thing, and in many circumstances might also be alack of knowledge of market conditions by seller agents. If stock is selling with a week, its not priced to market ?

There are so many areas in Sydney with a lack of saleable stock, and a bunch of pent up demand its hard to gauge what is and isnt "value"

residex is often months behind, but the small volume of sales may prove a statistical downfall too.


ta
rolf