Canterbury - Off the Plan

What do you people think about Canterbury (Sydney) and the off the plan developments?
Do you think it will be a nice suburb down the line in terms of capital growth?

Looking for a 2 bedroom.
 
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I am biased because I have sites in Belmore however, I do think Canterbury is the best bang for your buck in Sydney if your looking at purchasing OTP.

Canterbury is just on the border of Dullwich Hill and in time Canterbury will be considered an 'inner city' suburb.

You can still secure 2 bed apartments OTP for around that $650k mark while if you look else where you cannot find anything at that price point. I mean, new projects in Hurstville are selling 2 beds 'starting from $780,000'.

You need to secure something close to the train line so that can have strong cashflow.

If your looking for OTP Canterbury is good, however I am bearish on Sydney as a whole because the OTP prices in general are far too apart from existing stock and rents.
 
Everyone will have an opinion and often it will come down to timing the market... Blind Freddy can see the IW is booming so maybe looking further out is not a bda idea....

Canterbury is and has been run down for a long time but there are changes happening with these big developments, new shops (Woolies?), developing the Canterbury River area with boardwalks cafes etc (check with Council) and new inflow of people changing the demographics but who knows (the schools in the area have very good reputations and may be a factor for some looking at the area).
 
That's what I am looking at. The future look and feel of the suburb. at the moment to be frank it looks like a hole, but I've looked at the local development plan with the new walks and bridges and also the new woolies and a potential train station redevelopment. I am thinking in 4-5yrs the suburb may look and feel completely different. However, I am also sceptical as a promised council development plan may not always work out to what has been said.

I do like that its only 18min to central with express train and 24min to museum (where I work)
 
Hey DTSydney,

Buying OTP has been discussed here in this forum quite a few times. The general consensus is that (someone please correct me if I'm wrong) buying off the plan runs a greater risk in terms of sourcing out finance. So unless you have a large cash buffer to cover the shortfall in valuation and contract price, then stay out of it. But it will still come down to your due diligence, if your numbers stacks up on the worst case scenario and this will work out to be a good deal for you and will follow your strategy, then just do it.

There's quite a few issues as well with buying OTP aside from low vals and finance difficulties.

Check out this thread, the guys have discussed a few pros and cons (mainly cons. :)):http://somersoft.com/forums/showthread.php?t=100924&highlight=buying+OTP
 
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