Rosehill

I was wondering whether I could get your feedback about this suburb.

i have never been to Rosehill but will be driving there tomorrow but still would like your valued opinions please :) As you know there is the race course in Rosehill. Do you think this is a pro or a con?

Now the unit i have in mind would be positively geared, so capital growth is not the priority, but one must keep in mind the exit strategy right? so what happens if many more units come up, do you think that over supply could happen in this area?

As I said Capital growth is not priority but my worry is that it will be hard to sell. I mean do units fall in price when newer ones go up? Keeping in mind the Rosehill area.

Any bit of information or experience you may have had with this area will be of great help to me and greatly appreciated!

Look forward to your comments and thanks in advance!
 
As you know there is the race course in Rosehill. Do you think this is a pro or a con?
Neither :) The closest units/houses to the racecourse are across 6 lanes of traffic the other side of the road.

....so what happens if many more units come up, do you think that over supply could happen in this area?
Not going to happen for a while - developers cannot get finance at present.

I mean do units fall in price when newer ones go up?
They can - yes. But it all depends on supply & demand at the time.

Look forward to your comments and thanks in advance!
I would be very suspicious of finding a +ve geared unit in Rosehill (or anywhere near it) at present. They do exist but out in the west of Western Sydney and Lakemba / Yagoona etc.

This one in Rosehill sounds to me like a 'rental guarantee' scenario and if it is - I'd run a mile.
 
Thanks Properunity! That’s very helpful info.

It isn't a rental guarantee actually. it is currently rented at what the agent said we could get. That it is rented I know, that the tenants are paying as much as the agent said is another story altogether! Do you think I have the right to ask him for proof? like a statement or something? I think ill take the chance and ask him.

I a looking for an independent source were I can get an estimate for the property as well as rental appraisal but I am yet to find a company/person whom i trust to do this. i know that before the loan is finalised that the bank will carry out their own valuation right? but by then its too late for me to get out of the contract isnt it!

And sorry I forgot to mention that this property has a dual income basis and that is why it is cashflow positive...... Just!
 
Do you think I have the right to ask him for proof? like a statement or something? I think ill take the chance and ask him.
Don't "take the chance" - just do your DD and "ask" him to substantiate his claims :)

I a looking for an independent source were I can get an estimate for the property as well as rental appraisal but I am yet to find a company/person whom i trust to do this.
A Buyers Agent or a Valuer could do this for you (for a fee).

i know that before the loan is finalised that the bank will carry out their own valuation right?
NOT exactly, no. The loan will not be formally approved until the bank does their valuation. Until then all you have is pre-approval "subject to" a satisfactory val on the property.

but by then its too late for me to get out of the contract isnt it!
You should not go unconditional until you have formal approval. :eek: But you do stand to lose your 0.25% deposit within the cooling off period - yes.

And sorry I forgot to mention that this property has a dual income basis and that is why it is cashflow positive...... Just!
I was thinking that could have been the case. There are a number of "turnkey" or "dual key" units in Rosehill that can be used as either a big 3brm unit or a 2brm + a 1brm - both self contained dual renter. Good one :)
 
Thanks again! Will definitely ask him then. worst he can say is no and then its his loss i guess!

Yes I need to research about fees etc for these things and whether where I am looking at matters when it comes to choose an agent (if they specialise in aerass) etc... but that's something else entirely!

One question keeps coming to mind.....why would people rent in Rosehill if for the same rate they can rent in Parramatta? transport is good in Rosehill and same as Parramatta its close to highways etc….. so I’m trying to figure out what would pull renters to Rosehill rather than Parramatta :confused:
 
One question keeps coming to mind.....why would people rent in Rosehill if for the same rate they can rent in Parramatta? transport is good in Rosehill and same as Parramatta its close to highways etc….. so I’m trying to figure out what would pull renters to Rosehill rather than Parramatta :confused:

I think you are over-anaylsing :p

Why would people rent in Merrylands when they could rent in Parramatta for the same money? Replace the word Merrylands with Guildford, Villawood, Granville, Rosehill, Auburn etc. People just don't all want to live in Parramatta ;)

...and as garbage said, all leases will be included in the Contract of Sale.
 
I think you are over-anaylsing :p

Why would people rent in Merrylands when they could rent in Parramatta for the same money? Replace the word Merrylands with Guildford, Villawood, Granville, Rosehill, Auburn etc. People just don't all want to live in Parramatta ;)

...and as garbage said, all leases will be included in the Contract of Sale.

HEHE you're probably right :eek: but i can't help but wonder....

Ok so i can ask for the contract of sale then and the lease should be included right?

Cheers!
 
Just be careful if these are in the Warldorf building or the new one down the road that has dual keys and you can section the unit off.
 
mmmm i noticed the Waldorf ones and they looked very "cheap" to buy in fact was really wary of them and didn’t really look into them further. i just hope they do not bring down the prices of neighboring units.

may i ask why you said to be careful though if it were these units?
 
ah serviced apartments..... we don't know enough about that sort of thing to invest in them just yet but thanks for the heads up!

what we are looking at is a regular unit not a serviced one. as i said i just need to look into the possibility that the serviced apartments in the area do not affect the rent or prices of other units in the vicinity.

ill be reading, reading, reading!
 
Thanks again! Will definitely ask him then. worst he can say is no and then its his loss i guess!

Yes I need to research about fees etc for these things and whether where I am looking at matters when it comes to choose an agent (if they specialise in aerass) etc... but that's something else entirely!

One question keeps coming to mind.....why would people rent in Rosehill if for the same rate they can rent in Parramatta? transport is good in Rosehill and same as Parramatta its close to highways etc….. so I’m trying to figure out what would pull renters to Rosehill rather than Parramatta :confused:


I am familiar with Rosehill.

For transport Rosehill is worse than in Parramatta, forget the Carlingford line on which Rosehill station sits as it is a very poorly serviced line that requires an all out, all change at Clyde (the next station after Rosehill). Alot of people in the area walk to nearby Harris Park station on the main west line but even it isn't that well serviced compared to Parramatta. You can walk to Granvile but it is a hike for most of Rosehill but it has great connectivity. However should the proposed Parramatta to Epping Cityrail line or the West Metro ever get off the ground then Rosehill/ Camelia should do better then most parts of Sydney for transport.

If either of these rail projects go through huge urban renewal will go through this area mainly centred on Camelia and the River but it will sneak in to Rosehill. Picture Rhodes. However this is many years down the track looking at our current situation but worth keeping in mind.

For road transport Rosehill does well. Parramatta is a quick drive and James Ruse Drive (6 lane major road) splits Rosehill and leads straight on to the M4, Parramatta and Victoria road. However these roads are very busy all the time and crazy during peak.

The area itself is heavy Industrial on the Race Course side of James Ruse Drive although most of that is in Camelia. Then its a mix of mostly units and some normal older single level dwellings on the other side. There is also some large Hotels on this side of the road. There is also a BP Service station, and some fast food restaurants. Backing on to this is a supermarket which is all very convenient to Rosehill. Of course you are also very close to Parramatta for serious shopping.

Rosehill is pretty quiet and has a large Indian community. Same as Harris Park next to it. It has featured in the media recently but that is the first trouble I have seen there in a long time, those few incidents is probably more due to its proximity to Granville ;) It used to be much worse before the indian people moved in ironically!

Personally I think Rose Hill up to Rydalmere is probably the pick to invest in around the Parramatta area but that's just my thoughts. There is some Housing commission in the area so be aware of that. So yeah, not a bad investment area if you can get a good deal.
 
Hi there

Be wary of growth figures on Rosehill (this includes rental yield info) as it's such a small suburb that there's insufficient data to make it reliable, and you may well be misled :(

For example, last year there was a total of 48 unit sales and 8 houses for Rosehill- far too small a sample on which to make any conclusions.

Rosehill has always seemed to me to be an outer suburb of Parra- next to Harris Park, mainly made up of racetrack, highway and units :D It's not my first choice for an IP but everyone's different. Like others have already said, I'd be looking at buying closer to the Parra rail line. Think Parra, Harris Park, Granville, Merrylands, Westmead, Wenty etc etc.

For units, also watch strata fees and management fees as these can erode your costs very quickly.
Good luck :)
 
thanks for the detailed info Red Car :)

Jacque i started to notice how tiny it really is and what you said confirms it. and then statistics wouldnt be too acurate true:rolleyes:

well I'm off to see a unit there tonight. not with the intention of buying as such but more of a learning experience. catching the train from the city at peak time so i can see what it's like too. i want to see hoew "industrial" it is and get a feel for the area too and then after we'll drive around for a little while too.

So far Rosehill has not convinced me but I'm learning.....
 
Ive got a unit in Rosehill that Ive had for about 3 years. Its achieving a good enough rental return, and I believe it has made good capital gain in the three years. At the time, I was looking in the lower price range so was looking around Merrylands, Westmead, Harris Park, Rosehill and Parramatta.

I dont think Rosehill is that bad (same as Harris Park, Parramatta etc). More units around, but my unit is on the outskirts of Rosehill where there are some houses around so it makes it a bit more pleasant rather than having multitudes of units around you (Harris Park). It will be interesting to see what place your looking at (pm details if you want).
 
thanks for the detailed info Red Car :)

Jacque i started to notice how tiny it really is and what you said confirms it. and then statistics wouldnt be too acurate true:rolleyes:

well I'm off to see a unit there tonight. not with the intention of buying as such but more of a learning experience. catching the train from the city at peak time so i can see what it's like too. i want to see hoew "industrial" it is and get a feel for the area too and then after we'll drive around for a little while too.

So far Rosehill has not convinced me but I'm learning.....

I live in parramatta and everytime I got off M4 I passed Rosehill (where the horse racing tracks are) and I always can smell foul odour coming from the either the river or the industrial area there or both. Not sure whether it is only the smell or whether the pollution also affects the water in the area or not. Just make sure the property you're looking for is at some distance length from there
 
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