First IP, need advice - Western sydney

Prices don't necessarily drop. Often they "sag" a bit, then stay flat for several years. Then they start moving again, often suddenly and by a lot: it can get crazy. This is the property cycle that many people talk about.

Western Sydney has been in the "crazy" stage for a while, to the point that people are thinking it'll end soon. Then, if history repeats, prices will sag a little bit then remain flat for a few years, possibly several. If you were hoping to buy, hold a few years and sell for a tidy profit; it might be too late, you're at the top of the cycle.

I wish i had this much deposit few years back :(
What if i hold the property for long and not decide to sell it when the price is low/stable ?
 
To the OP - If it were me, I might consider suburbs closer to the city and centres of employment than Mount Druitt and Rooty Hill.
Parramatta, Auburn, Lidcombe.
Or perhaps invest in an apartment within 10kms of the city.
It seems to me that these areas have had much higher CG than far-flung suburbs.
Disclaimer: I am not an expert or finance whiz. Only saying what I'd do if I were in your position.
Disclaimer 2: Owning an apartment has brought alot of strata headaches, for not much CG (I chose the wrong area). The bitter battles of strata would have been ameliorated if I had gained in substantial CG (which I have not). On hindsight I should have chosen a better suburb for CG or bought a house instead. Easy to say now isn't it.

Thanks for sharing your opinions - with this much loan, i can only afford house in a bit far away suburbs - blacktown being one of them with closeness to Parramatta.
 
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