Penrith or Central Coast?

[dreamgirl]

Hiya!

Where would you buy if you had a budget of approx 400K?

I had been looking for an IP around Penrith, Cranebrook, Cambridge Park & Werrington Downs but now thinking of venturing to Central Coast.

I'm looking for a buy-and-hold investment with potential to add a granny flat.

Would much appreciate your thoughts...

Cheers,
dreamgirl

 

[nhg]

My personal view on the Sydney market is move on.

That aside, when it comes to granny flats, think of who the end user would be.

- retirees?
- divorced parent?
- student?

Then fit it out to match. Near station, shops, other amenities. May influence the type of property and proximity to amenities you purchase.

 

[MsAli]

I would stick to Sydney if you can get a property with an upside.. and future potential.

Dont know enough about central coast but you may do well there too...

Propertunity would be able to shed some light..

 

[Shahin_Afarin]

If I had got a dollar each time I have been asked that question by not only investors but also first home buyers......

CC is massive so you need to narrow down exactly which part of the CC you are talking about. Travel time to the city is about the same. Both of significant pros and cons. Competition is starting to increase in the CC. I think there is better development opportunities in CC than Penrith way.

 

[Propertunity]

Last 15 yrs Penrith LGA grew 11%pa averaged out. Wyong LGA did 10%.
That's history - what happens into the future? Who knows?

*Also bear in mind the chart is for the whole LGA - individual suburbs within each will do better or worse.

Both have good opportunities.

 

[dreamgirl]

Thanks guys!

Living closer to Penrith and being a self-manager, I'm naturally biased towards the western suburbs.

Propertunity's chart shows similar historical CG, however rental yield I believe is better in Penrith LGA.

Do correct me if I'm wrong...