Campbelltown

[labrynth]

Hi Guys

I am looking at investing in Campbelltown in Sydney.

I know prices have gone backwards since the GFC but would 3 bed town houses do well in the area priced in low $400's?

There are some 3 bed units selling in the same price range but when i look at houses you can buy a run down house for $350k on 800sqm while the town houses would be sitting on 300sqm but would be brand new.

Is low $400's too expensive for the area?

 

[Shahin_Afarin]

$400's is far too expensive for the area. You can get houses in good condition in the mid to high $300k's. Campbelltown has got quite good rental yields and the council is quite good when it comes to development.

 

[labrynth]

$400's is far too expensive for the area. You can get houses in good condition in the mid to high $300k's. Campbelltown has got quite good rental yields and the council is quite good when it comes to development.

These would be off the plan and be complete in 2 years. Do you still think it is too expensive.

 

[kooldavid]

300-400k for houses in Sydney?? Where at???

 

[labrynth]

300-400k for houses in Sydney?? Where at???

Is cambelltown really part of Sydney though

 

[mumbai]

300-400k for houses in Sydney?? Where at???

Look hard, you will find 'em

 

[Shahin_Afarin]

These would be off the plan and be complete in 2 years. Do you still think it is too expensive.

Run away as quickly and far away from the deal as possible. It really depends on your strategy but a lot of investors (im one of those investors) are looking at larger blocks returning decent cash-flow today and with a view of developing/adding dwellings later on. Have you tried looking at western sydney area as well?

 

[Shahin_Afarin]

300-400k for houses in Sydney?? Where at???

Plenty of areas but whether some folk classify those areas as Sydney is a different story. If it makes a difference they are all suburbs that do begin with '9' in front of the number instead of '4'.

 

[labrynth]

Run away as quickly and far away from the deal as possible. It really depends on your strategy but a lot of investors (im one of those investors) are looking at larger blocks returning decent cash-flow today and with a view of developing/adding dwellings later on. Have you tried looking at western sydney area as well?

Why should I run away, is off the plan bad?

 

[knightm]

Shahin said run away because Shahin thinks they are too expensive for that area and you will get no capital growth in the short and mid term.
I agree with Shahin.

 

[Shahin_Afarin]

Off the plan purchases carry a lot of risk. There is plenty of feedback from members on this forum with horror stories. I have had many clients you have been burned as well. Why would you buy a $400k unit in campbelltown with high strata (and strata which will always continue to rise and you have no control over this) when you can pick up a house in the area which carries good potential to development, subdivide, etc?

 

[skater]

I agree with Shahin.

Me too!


More useless text to take up the 10 character minimum.

 

[Sesster]

There are great bargains

Kool David ,

I just purchased a 3 bedroom house with gf potential in Quakers Hill 5 min walk from train station for 362000, it's currently renting for 400/week without any Reno yet.

Sam