I'm looking around at what areas to invest in within Sydney. I've made a map of the North West Growth Centre, with the medians of surrounding suburbs marked down. Hopefully this map is useful to other forum members. I may think about doing a map of the South West Growth Centre as well in the next couple of days.. we'll see how this thread goes.
http://img801.imageshack.us/img801/6214/northwestgrowthcentrewi.png
The North West Growth Centre will house 70,000 new dwellings - of course this will not happen over night but is planned over the next 30-40 years (IIRC).
In my opinion the Growth Centre (increased population, significant infrastructural improvements etc) will obviously have a nice effect on prices in surrounding areas such as Willmot, Shalvey, Blackett, Dean Park etc.
It's interesting to see that 500sqm blocks of land in Kellyville Ridge, The Ponds etc are selling for $350k or more. Surely this shows that suburbs such as Shalvey, Blacket, Willmot etc etc will have some great growth in the coming years.
Something I noticed is this:-
Willmot had awful growth over the past 8-9 years, while the neighbouring suburb Shalvey has had significantly better growth. I don't know these areas too well (yet) but judging by the fact that there are more fire damaged houses in Willmot than unscathed properties, that Willmot is a very bad area and this is the reason for the bad growth?
The yields in this area is great, as is the potential for renos in many of the homes I've seen for sale. This is fantastic, but a bit pointless without a positive outlook for capital growth in the future.
This begs a question:
Will ***** areas always be *****? With infrastructure coming up very close to these areas, I would anticipate this would boost land values in these areas. I assume this would lead new developments to flow over into these suburbs once the new Growth Centre is full (or even before that once people see good value land) and eventually push rents up so high that the lower socio-economic crowd that currently inhabits the area would move on to somewhere cheaper..
What are your thoughts on this?
Any other thoughts?
Bibliography!
Median Prices gathered here - the median prices in brackets are where the median prices given by this site are significantly lower than the median prices over the last 12 months on RPData. The numbers in brackets are based on RPData medians which I think are more accurate. (I have an RPData membership).
Growth Centre Info here
http://img801.imageshack.us/img801/6214/northwestgrowthcentrewi.png
The North West Growth Centre will house 70,000 new dwellings - of course this will not happen over night but is planned over the next 30-40 years (IIRC).
In my opinion the Growth Centre (increased population, significant infrastructural improvements etc) will obviously have a nice effect on prices in surrounding areas such as Willmot, Shalvey, Blackett, Dean Park etc.
It's interesting to see that 500sqm blocks of land in Kellyville Ridge, The Ponds etc are selling for $350k or more. Surely this shows that suburbs such as Shalvey, Blacket, Willmot etc etc will have some great growth in the coming years.
Something I noticed is this:-
Willmot had awful growth over the past 8-9 years, while the neighbouring suburb Shalvey has had significantly better growth. I don't know these areas too well (yet) but judging by the fact that there are more fire damaged houses in Willmot than unscathed properties, that Willmot is a very bad area and this is the reason for the bad growth?
The yields in this area is great, as is the potential for renos in many of the homes I've seen for sale. This is fantastic, but a bit pointless without a positive outlook for capital growth in the future.
This begs a question:
Will ***** areas always be *****? With infrastructure coming up very close to these areas, I would anticipate this would boost land values in these areas. I assume this would lead new developments to flow over into these suburbs once the new Growth Centre is full (or even before that once people see good value land) and eventually push rents up so high that the lower socio-economic crowd that currently inhabits the area would move on to somewhere cheaper..
What are your thoughts on this?
Any other thoughts?
Bibliography!
Median Prices gathered here - the median prices in brackets are where the median prices given by this site are significantly lower than the median prices over the last 12 months on RPData. The numbers in brackets are based on RPData medians which I think are more accurate. (I have an RPData membership).
Growth Centre Info here
