Declaration of interest - My In-laws live there and I want them to get as much as possible when they come to sell ...
There have been many threads asking where to buy in Sydney recently and the most common reply is , DON"T ....
There is a constant stream of posters reporting crazy prices in a whole range of suburbs . Some of this is driven by particular ethnic groups buying in certain areas .
Yagoona is a non descript middle income suburb in the south west , just north of Bankstown . It is on the train line , but from what I understand , it's n a side loop so the services aren't as frequent as most main lines .
Bankstown in a major suburban center and has at some stage was " the murder capital of Australia " though I think Auburn has been the suburb to be given that title.
It was developed post WW2 with the area consisting mainly of fibro houses , many owner Built . My father in law built the garage first and lived in that while he built the house . HE was a sparkie though later went in to management . His neighbors were often tradies and would help each other out as they built .
Most of the original owners and spent their lives living in there .They are in their mid late 80's or older so there will be further regeneration in the area over the next few years . Parts of it have been rezoned and my in laws are discussing with their neighbors about pooling together , getting a DA and selling . The prime mover is the next door neighbor who is the son of the original owner.
I've been there many times over the last thirty years and their specific area ( Worland St ) has always come across as a quiet nice area with no specific problems , though having said that there was a drug bust in a house over the road a few years ago . It's the sort of place that all the neighbors were talking about the police surveillance going on well before the police made their move , but no one told the people being watched .
Out side the potential for regeneration and potential development ,the reason I'd look there is that it doesn't appear to have move up as much as some of the other suburbs that I would have though would be comparable places .
There were posts about houses in Lidcombe selling well over 1 mill and at the time I checked out Yagoona prices , and they started in the 6's . I didn't do any serious analysis to compare the properties , development potential , and I am certainly aware that prices in some suburbs in Sydney are been driven by ethnic interest . I'm not sure if there are any similar factors involved in Yagoona .
As clearly stated I have a self interest in the area . I'm not saying it is a place to buy , but rather a place to do you own DD on .
Cliff
There have been many threads asking where to buy in Sydney recently and the most common reply is , DON"T ....
There is a constant stream of posters reporting crazy prices in a whole range of suburbs . Some of this is driven by particular ethnic groups buying in certain areas .
Yagoona is a non descript middle income suburb in the south west , just north of Bankstown . It is on the train line , but from what I understand , it's n a side loop so the services aren't as frequent as most main lines .
Bankstown in a major suburban center and has at some stage was " the murder capital of Australia " though I think Auburn has been the suburb to be given that title.
It was developed post WW2 with the area consisting mainly of fibro houses , many owner Built . My father in law built the garage first and lived in that while he built the house . HE was a sparkie though later went in to management . His neighbors were often tradies and would help each other out as they built .
Most of the original owners and spent their lives living in there .They are in their mid late 80's or older so there will be further regeneration in the area over the next few years . Parts of it have been rezoned and my in laws are discussing with their neighbors about pooling together , getting a DA and selling . The prime mover is the next door neighbor who is the son of the original owner.
I've been there many times over the last thirty years and their specific area ( Worland St ) has always come across as a quiet nice area with no specific problems , though having said that there was a drug bust in a house over the road a few years ago . It's the sort of place that all the neighbors were talking about the police surveillance going on well before the police made their move , but no one told the people being watched .
Out side the potential for regeneration and potential development ,the reason I'd look there is that it doesn't appear to have move up as much as some of the other suburbs that I would have though would be comparable places .
There were posts about houses in Lidcombe selling well over 1 mill and at the time I checked out Yagoona prices , and they started in the 6's . I didn't do any serious analysis to compare the properties , development potential , and I am certainly aware that prices in some suburbs in Sydney are been driven by ethnic interest . I'm not sure if there are any similar factors involved in Yagoona .
As clearly stated I have a self interest in the area . I'm not saying it is a place to buy , but rather a place to do you own DD on .
Cliff
