No go zones

Terry Ryder's list of "no go zones" have come out. I'm surprised to see Parra and Blacktown on that list.

http://www.heraldsun.com.au/news/na...ey-dont-go-there/story-e6frf7l6-1111116195528

– Bankstown, western Sydney, NSW
– Blacktown, western Sydney, NSW
– Darwin, northern suburbs, NT
– Dinmore, Brisbane, Qld
– Esperance, southeast, WA
– Giru, north Qld
– Kalgoorlie, outback WA
– Katherine, outback NT
– Lyndhurst, Melbourne, Vic
– Mount Isa, western Qld
– Parramatta, western Sydney, NSW
– Shepparton, northern Vic
– Sunshine Coast, Qld
 
It's important to note that this is one persons opinion only, and simply can't be relied upon as a definitive guide on where to invest!
Terry writes some good stuff, but, much like other "forecasters" can get it wrong. Time will tell regardless. Remember Steve Keene....

I can partially understand his reasoning for Blacktown and Bankstown (and assume these are lumped in as LGA's thus not really providing specific information on selective suburbs within these council areas) if based purely on crime stats but Parra has me a little stumped. It's one the better areas in the western suburbs, is supported by Sydney's 2nd largest CBD and has some great rental returns. It can be dangerous to generalize when deciphering such reports as I'm sure there's loads of investors on here who can testify otherwise contrarily to his doom and gloom forecasts.
 
Well he also says that the Sutherland Shire ("the Shire") and prestige Melbourne suburbs are also no go areas....

I have a lot of time for Terry Ryder....I agree with his assessment of the above...MtDruitt and Blacktown (proper). Not sure about Parramatta as there is lot of demand for stock there from immigrants which is pushing up prices. Also select Bankstown suburbs near rail are also doing okay.

http://www.news.com.au/money/proper...no-go-home-zones/story-e6frfmd0-1225877489435
 
Sutherland shire bad to invest/live in?

Burranner Bay, South Caringbah, Caringbah, Miranda, Lilly Pilli, Dolans Bay, Woolooware, Cronulla have all performed very well as far as I can see, and should continue to do so.
These are quality suburbs.

Can think of alot worse places.
 
It would be interesting to buy an IP in each of these suburbs and see how they went 10 years from now. :D

As Jacque said, it is only one man's opinion. I think many of these areas will do well. But that too is only one man's opinion :p
 
Sutherland shire bad to invest/live in?

Burranner Bay, South Caringbah, Caringbah, Miranda, Lilly Pilli, Dolans Bay, Woolooware, Cronulla have all performed very well as far as I can see, and should continue to do so.
These are quality suburbs.

Can think of alot worse places.

Can't believe he's bagging out God's country :D
 
Hmmm.....don't know about that....these suburbs have not moved alot.

Sure they are nice suburbs....but the question is whether their growth has kept up with inflation. As to whether they are quality suburbs...I think you will find these suburbs are quite insular.

I do agree that they do offer value for money.

I know a former work colleage bought a house in Gymea Bay for 740k...about 7 years ago....I doubt it worth much more than 850k. After taking out costs (buying and selling) she maybe only 80k in front. Which equates to about a 11% return or 1.5% return per annum.

I also know that anything over 700k in the shire is hard to move at the moment. I know some who has a place on the market (subdivided) block on the market for $1.2m in Lilli Pilli.......no way he will get this price.

Sutherland shire bad to invest/live in?

Burranner Bay, South Caringbah, Caringbah, Miranda, Lilly Pilli, Dolans Bay, Woolooware, Cronulla have all performed very well as far as I can see, and should continue to do so.
These are quality suburbs.

Can think of alot worse places.
 
Hmmm.....don't know about that....these suburbs have not moved alot.

Sure they are nice suburbs....but the question is whether their growth has kept up with inflation. As to whether they are quality suburbs...I think you will find these suburbs are quite insular.

I do agree that they do offer value for money.

I know a former work colleage bought a house in Gymea Bay for 740k...about 7 years ago....I doubt it worth much more than 850k. After taking out costs (buying and selling) she maybe only 80k in front. Which equates to about a 11% return or 1.5% return per annum.

I also know that anything over 700k in the shire is hard to move at the moment. I know some who has a place on the market (subdivided) block on the market for $1.2m in Lilli Pilli.......no way he will get this price.

I haven't followed Gymea/Gymea Bay much, but know that 7 years ago was right at the top of the market, then prices fell back slightly in the next few years.
However, last 12 or so months, couple of places we have in Caringbah and Miranda went up 20% after a good 5 or so years without much movement.
We bought right at the top of the last boom too.

If that Gymea Bay house was bought a couple years earlier, it could probably have been got for around 450k-500k.

Not sure about 700k + being hard to move, sales have been strong recently, and there really isn't much at all sub 700k, except units.
 
I am presuming the stuff you have are units....if that is the case yes...some of old stuff went from 270-300k to about 310-350k when thr FHOG was in place. This will come back a bit to say 300-330k.

Don't know about getting a house in Gymea Bay house for less than 550k even 2-3 years ago....not much under this price. BUt you could have bought in Miranda (ex houso) for 430-450k...now they sell for 480k plus....

As for the market for stuff under 700k ...not a lot left....just watch this space. Unlike other areas....."The Shire" has very few immigrants buying.....this also has an impact on prices...as typically these people will buy bargains .....in areas like the North Shore, Inner West, etc.

Just the way I see it.....nothing wrong with the "The Shire"....would live there if I retired.....just like my food and coffee and access to places like Glebe, Newtown, Leichardt, Balmain, Crows Nest, Chatswood.....

However, last 12 or so months, couple of places we have in Caringbah and Miranda went up 20% after a good 5 or so years without much movement.
We bought right at the top of the last boom too.

If that Gymea Bay house was bought a couple years earlier, it could probably have been got for around 450k-500k.

Not sure about 700k + being hard to move, sales have been strong recently, and there really isn't much at all sub 700k, except units.
 
I am presuming the stuff you have are units....if that is the case yes...some of old stuff went from 270-300k to about 310-350k when thr FHOG was in place. This will come back a bit to say 300-330k.

Houses actually.

Don't know about getting a house in Gymea Bay house for less than 550k even 2-3 years ago....not much under this price. BUt you could have bought in Miranda (ex houso) for 430-450k...now they sell for 480k plus....

What I meant was if that house in Gymea Bay was bout 9 years ago instead of 7 years ago, it would have been bought considerably cheaper.

As for the market for stuff under 700k ...not a lot left....just watch this space. Unlike other areas....."The Shire" has very few immigrants buying.....this also has an impact on prices...as typically these people will buy bargains .....in areas like the North Shore, Inner West, etc.

I will be watching, looking to buy more, to develop in future.
Have noticed more Asian population lately, Sylvania has a relatively high Asian presence.
 
I am somewhat puzzled :confused: not hard, I know :p this article is dated 29th April 2008 and updated with today's date above......

So is the source from two years ago or is it current? :rolleyes:

Whilst I have heard of some of the suburbs mentioned with reference to that western tract of Sydney, the one I am most familiar with is Parramatta.

I got an email from him a few weeks ago and he was considering that around Merrylands and Guildford were to be the reposession hubs. I guess casting the line a bit further to Parramatta may not be unreasonable at face value. They are neighbours.

Personally, bring it on, the rentals there are pretty tight and if there are repo sales, those people will likely want to rent in those areas also. It will be cheaper than their mortgage. This can only be positive for rentals. Even if they don't the amenity and affordability for the infrastructure and facilities that Parra offers will always see demand IMO.

If the article is from two years ago, then the Parramatta inclusion is not warranted. I've seen nice capital growth there since 2008. Wish I had another.

The BA's who deal there such as Jacque and Prop may be able to also outline what their experience has been by way of capital value appreciation over the last two years.
 
Top