Buying in Blacktown..

J

jmillar

After much research I've decided that Blacktown would be a great place for me to invest, given the reasonable rental yields and I see some good future growth potential there.

I'm just wondering if anyone has any tips in relation to which areas in Blacktown I should stay away from etc?

My sister just sold her house in Blacktown within 4 days and there were 23 people at the OFI. It looks like there's a large demand there but I'm sure there are still some good bargains to be had if I look hard enough!

Any advice would be great.

Thanks!
 
jmillar said:
After much research I've decided that Blacktown would be a great place for me to invest, given the reasonable rental yields and I see some good future growth potential there.

I'm just wondering if anyone has any tips in relation to which areas in Blacktown I should stay away from etc?

My sister just sold her house in Blacktown within 4 days and there were 23 people at the OFI. It looks like there's a large demand there but I'm sure there are still some good bargains to be had if I look hard enough!

Any advice would be great.

Thanks!
Click to expand...

South Blacktown is the best

West Blacktown is the worst

Bargains? Not anymore...you'll have more luck further west
 
Blacktown isn't as bad as some think. I've lived there all my life

At the moment there is a lot of activity and investors buying.if you buy well you won't go wrong.

South Blacktown has a better reputation however you might pay more.

Make sure you get a good propertyManager who will find you good tenants.
 
Thanks a lot for the tips guys, much appreciated.

I grew up thinking Blacktown had a bad reputation but from driving around and from visiting my sister in Blacktown I've never seen anything to back up these claims. Sure it's no Vaucluse, there are still plenty of no hopers around, but I think it's well located and there's a lot of development happening around Blacktown. Also Blacktown Council seems to be quite easy to deal with and they seem to have a lot of big plans moving forward.

I see the demographics of Blacktown changing for the better a lot quicker than areas such as St Marys, Mt Druitt, Shalvey etc.

I'm no expert on the areas so I'm happy to be proved wrong, but that's just my thoughts. I think I've got a lot of work ahead of me to find a property in the area for a good price but I'm definitely up for the challenge! ;)

Thanks again for your responses :)
EDIT: What do you guys consider South Blacktown and West Blacktown? South of Bungaribee and West of Reservoir?
 
DaveMSydney said:
Check the danger zone locator per the map in the below post for housing commission hotspots in Blacktown

http://somersoft.com/forums/showpost.php?p=549571&postcount=35
Click to expand...

You need to be very careful reprinting maps such as these- no offence to MJ but this can present quite an inaccurate picture and potentially turn investors off needlessly. Also keep in mind the data sourced may be old and incorrect (HC have sold a lot of stock off in recent years- see Richardson and Wrench listings, for example)

To provide an example, Stephen St is a very long street (up to no.211) but actually only has one house listed as belonging to Housing and Land Corp (HC Dept) with 3-4 others owners listed as The Proprietors (in other words, unknown without doing a title search). In my personal opinion, it's a perfectly good street in this area so marking it as a "no-go zone" would be foolish indeed. I've bought for many clients in North and West Blacktown and whilst there's certainly pockets to be avoided, don't go making the mistake of tarring entire streets with the same brush due to misinformation...
 
jmillar said:
Thanks a lot for the tips guys, much appreciated.

I grew up thinking Blacktown had a bad reputation but from driving around and from visiting my sister in Blacktown I've never seen anything to back up these claims. Sure it's no Vaucluse, there are still plenty of no hopers around, but I think it's well located and there's a lot of development happening around Blacktown. Also Blacktown Council seems to be quite easy to deal with and they seem to have a lot of big plans moving forward.

I see the demographics of Blacktown changing for the better a lot quicker than areas such as St Marys, Mt Druitt, Shalvey etc.

I'm no expert on the areas so I'm happy to be proved wrong, but that's just my thoughts. I think I've got a lot of work ahead of me to find a property in the area for a good price but I'm definitely up for the challenge! ;)

Thanks again for your responses :)
EDIT: What do you guys consider South Blacktown and West Blacktown? South of Bungaribee and West of Reservoir?
Click to expand...

What about the unit market in Blacktown close to the train station, Maccas, etc? I've checked and gross yield appears to be around 6%. Does any one can offer any inside?
 
agent007 said:
What about the unit market in Blacktown close to the train station, Maccas, etc? I've checked and gross yield appears to be around 6%. Does any one can offer any inside?
Click to expand...

a 2 bed appartment is around 300k, strata levies can range 500 to 1000 per pq

i live on the boarder of blacktown right next to kings langley, houses are around 500k plus here nothing at all wrong with this part.
 
Jacque said:
You need to be very careful reprinting maps such as these- no offence to MJ but this can present quite an inaccurate picture and potentially turn investors off needlessly. Also keep in mind the data sourced may be old and incorrect (HC have sold a lot of stock off in recent years- see Richardson and Wrench listings, for example)

To provide an example, Stephen St is a very long street (up to no.211) but actually only has one house listed as belonging to Housing and Land Corp (HC Dept) with 3-4 others owners listed as The Proprietors (in other words, unknown without doing a title search). In my personal opinion, it's a perfectly good street in this area so marking it as a "no-go zone" would be foolish indeed. I've bought for many clients in North and West Blacktown and whilst there's certainly pockets to be avoided, don't go making the mistake of tarring entire streets with the same brush due to misinformation...
Click to expand...

Shh Jacque... scare everyone off and save the bargains for your clients :)
 
For me I would consider South Blacktown in and around Julie Street.

For an investment I would buy anywhere in Blacktown.

Closer to the station and Westpoint will probably get better interest from tenants.

Go to open homes and check out the areas.
 
mitchellp said:
a 2 bed appartment is around 300k, strata levies can range 500 to 1000 per pq

i live on the boarder of blacktown right next to kings langley, houses are around 500k plus here nothing at all wrong with this part.
Click to expand...

I continue to check the area and it appears that things are moving or starting to move faster than I anticipated... Will that be a valid appreciation? I'm checking on units close by train station
 
Jacque said:
You need to be very careful reprinting maps such as these- no offence to MJ but this can present quite an inaccurate picture and potentially turn investors off needlessly. Also keep in mind the data sourced may be old and incorrect (HC have sold a lot of stock off in recent years- see Richardson and Wrench listings, for example)

To provide an example, Stephen St is a very long street (up to no.211) but actually only has one house listed as belonging to Housing and Land Corp (HC Dept) with 3-4 others owners listed as The Proprietors (in other words, unknown without doing a title search). In my personal opinion, it's a perfectly good street in this area so marking it as a "no-go zone" would be foolish indeed. I've bought for many clients in North and West Blacktown and whilst there's certainly pockets to be avoided, don't go making the mistake of tarring entire streets with the same brush due to misinformation...
Click to expand...

I wonder how many of these maps for different areas are floating around o_O
 
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