Parramatta VS Castle Hill

F

freya0325

Hi Guys,

Just a quick survey which may help me to make my decision.

OTP 2 bedrooms + 2 bathrooms + 1 carpark + storage.

Parramatta:
750k (can apply for first home buyer grant),
will complete in Dec 2017,
2 mins walking to train station


Castle Hill:
760K,
will complete in Oct 2017
1 mins walking to future train station (completion approx. 2018-2019),
300 metres from Castle Towers shopping centre

Which one would you choose for investment?
 
Hi Freya

Whereabouts in CH - Old Northern Road ? CH is more of a family friendly residential area whereas Parramatta is more commercial.

I may be biased but I would buy CH.

Best wishes,
Amelia
 
are you looking to live or invest?

agree with Cherry, Castle hill is more residential for family. However, if you prefer better access to transport hub then Parramatta would be the way to go.
 
Will complete is a confident term.

Why are you looking at OTP properties only?

Which is a better investment? Is there an option for a not OTP property?
 
Both areas have big plans, is the castle hill option the old jax tyre shop units?
Very close to the NWRL and bus stops, should be a great investment.
Parramatta is rumored to be Sydney's next CBD. I'll agree not very family friendly yet, though definately cleaning up and lots of units being built in the area.

Out of the two options, Personally I would go for castle hill as there is less land supply and your unit would be right in the railway/buses and opposite castle towers.
 
Parramatta is crowded but is the geographical centre of Sydney. Getting anywhere anyhow is a cinch.
CH is nice but no station. Is there one on the way? It's pretty crowded there now too.
 
Depends on you as a person and what interests you.
I've been in Ryde my entire life but just recently moved close to Parramatta and I love it. I agree with the above comments that CH is more family orientated, but I think that could be a little boring. I love being close to public transport, the main arterial roads and motorways, and especially all the restaurants and nightlife Parra has to offer. I think the diversity in cultures adds a great deal to a smaller city like Parra, more people are out and about in a smaller space and it's buzzing till 2am! Parramatta council has some big plans worth checking out too.
 
For investment; im in the Parramatta camp all the way. I think OTP in Parramatta wouldnt be the best idea. I'd opt for an old 3-floor walk-up in a central location. Used to be a dime a dozen in Parramatta area but are more often being ripped up to build bigger things.

The old walk-ups are ugly but well built and allow value-add scope with a cosmetic reno whilst in between tenants.
 
Please see attachment of Parra River in the last two days. BTW, there was a walk path before all the rain.
 

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For Castle Hill, if you are talking about Atmosphere, it is a fantastic location for living. Walk to station, walk Castle Towers (to be expanded to second largest in Australia), walk to Castle Mall (to be very Asianised with more and more Asian shops).

The train will take you to Norwest, Macquarie Park, Macquarie Uni, Chatswood station which are major employment centres. That to me is a major plus point.

My friends lives at Northmead and they prefer to shop at Castle Towers than Parramatta Westfield even though Parra is much closer than the Towers. My customer lives at Seven Hills and they prefer shopping at Rouse Hill Town Centre than Blacktown. That explains all as Hills District simply has better demographic than Western Sydney. That is reflected in house prices.

I had a look at the Atmosphere and I was considering buying it (very tempting as I hate gardening, cleaning etc even though i live at a house with all those headaches but great capital gains). I have no problems living in apartments myself and love the convenience of it. At the end I did't proceed with it. I just don't know what the market will be like at 2017.

Even for investment I would still pick Castle Hill over Parramatta purely because of demographics.
 
I would have concerns about Nth Parra. The plans there are huge and oversupply is a likely result. Supressing prices esp for existing who have to drop their pants and rents. Its going to be Rhodes x 10. CH on the other hand is not subject to that intense planning which will dampen price rises based on supply. It has some factors that will keep prices rising. Its largely build on and density will occur with costly redev pushing prices up. New Rouse Hill hospital and NW rail will see continued growth in demand out to Dural and Rouse Hill.

Another factor is based on ethnic concentrations. North Parra has a huge student and new migrant population v's CH. Many unskilled. Parra/Nth Parra could easily become a modern slum if cheap developers get their way and comply with State Govt plans.
 
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