Schofield - Projected growth in the next 5 years?

It's a matter of buying the existing property in a gentrifying suburbs vs. OTP in a developing suburbs for investing.

Given the same amount of budget to invest, which one is suitable for long term CG ?

We cant tell you where to invest, this has been covered numerous times. You need to do your own research, due diligence and decision making.

The endless indecision and suburb selection questions in every sydney thread isnt helping you define what you want.
 
We cant tell you where to invest, this has been covered numerous times. You need to do your own research, due diligence and decision making.

The endless indecision and suburb selection questions in every sydney thread isnt helping you define what you want.

Agreed! From memory, you've been looking at many suburbs. You've got to find something that works for YOU, not something that works for SOMEONE ELSE.

It might be Sydney, it might be Wollongong, heck, it might be QLD or SA. But you've got to settle down & find where you want to buy, and THEN narrow it down in that area. We can't tell you the answers on this one.
 
It's a matter of buying the existing property in a gentrifying suburbs vs. OTP in a developing suburbs for investing.

Given the same amount of budget to invest, which one is suitable for long term CG ?

All depends what you want. Do you care about stuff like depreciation when looking at cashflow?
Do you care that your land will be small? Does it both you that you can't add a granny flat if times get tough? There are many questions to ask yourself. I bit the bullet and went The Ponds because I knew asians are starting to buy in there and many older retirees are also buying in there and it's moved a lot in the past few weeks.. I can see it going up even further but thats the punt I took. Everyone here who has bought has taken a punt on an area. Your goals and how you get there is what matters not just a specific property
 
The ripple effect from The Ponds and Rouse Hill will surely rub off.

http://www.dailytelegraph.com.au/ne...in-recent-months/story-fngr8i1f-1227370836506

I personally think the North West Rail Link will help to support growth in these areas for a few years yet. New Land is coming online soon in the extremeties of Rouse Hill and in Box Hill. House and Land packages are achieving sales close to $1mill ( even though they are some distance from Rouse Hill and Cudgegong Road stations ).

Sold: $940k

http://www.realestate.com.au/property-house-nsw-rouse+hill-119806387
 
It's a matter of buying the existing property in a gentrifying suburbs vs. OTP in a developing suburbs for investing.

Given the same amount of budget to invest, which one is suitable for long term CG ?

Hi John,

I tried to reply to your PM, however seems you've restricted yourself to not receive PM's. So here goes my message:

Is there a reason you are looking at Sydney right now? As you may be aware, the Sydney market started rising in January 2013 and has risen significantly. I personally can't justify the current rental yields. I don't have a crystal ball as to where the market will go and whether it will keep going, my gut feel is, most of the growth has already happened in Sydney.

Don't use Sydney as a dart board and buy anywhere, I think it might be a bit too late for that now. If you were buying start of 2013, in hindsight, you could have bought anywhere in Sydney and done well. I reckon it's going to be hard holding a property if you buy at the peak and don't see any movement for a long time to come (again I don't have a crystal ball).

If I was in your shoes, I'd consider Brisbane. Hire a local buyers agent who can talk you through the basics and show you the ropes. It will teach you a lot. Wombat777 used a BA in Brissy. Check his post out here: http://somersoft.com/forums/showthread.php?t=108506

So what is encouraging you to buy in Sydney?
What's your budget? What deposit are you putting in?
Do you have a good broker on your side?
Are you buying a property as a one off, or do you intend on building a portfolio?
Why are you investing in property? What's your driver?
Have you read any investing books? Rich Dad Poor Dad by Robert Kiyosaki & Richest Man in Babylon by George E. Clason come to mind.

I learned within the first few years of investing that, there is no perfect investment property. It needs to tick boxes around what makes a good investment to you and you only. No one would be able to point out an area where you must invest. It would come down to gut feel and what you think about an area and whether it fits in with your criteria. Hence nobody can make that decision till you do settle on an area and research.

Cheers,
MsAli
 
LOL how did you know it mate ;-)

so there is no reason for Schofields to rise up in value to be the next million dollar suburbs like Kellyville now.

Because I research these things before I buy haha

What has that muslim community got to do with rising values in Schofields? How did you use my answer of it's rejected and come to the conclusion that there is no reason for schofields to be like kellyville lol
 
Because I research these things before I buy haha

What has that muslim community got to do with rising values in Schofields? How did you use my answer of it's rejected and come to the conclusion that there is no reason for schofields to be like kellyville lol

OK, so now it is Marsden Park & Riverstone turn to become as high as Schofield & The Ponds.
 
One major factor for consideration in this area is the Outer Sydney Orbital which is planned to include a freight line and also a future motorway.

Logically you would think the Metro line from Cudgegong Road will also be extended south in this corridor.

The problem is that decisions on the corridor won't be made until late 2016 at the earliest.

Having this infrastructure close by can either be good for or nasty for investment. Heavy rail freight lines are nasty to live next to unless you are a trainspotter.

http://www.transport.nsw.gov.au/sit...outer-sydney-orbital-newsletter-june-2015.pdf

If investing in this area I'd be picking a location very carefully. The risk still remains that it could turn an investment sour, particularly if you buy before the decision is made.

You've only got to look at the mess that infrastructure is causing for some owners in the southwest:

http://www.abc.net.au/news/2015-06-16/south-west-sydney-residents-shocked-by-rail-plan/6549026

Hundreds of current residents and landowners in Sydney's south-west have been told their recently purchased properties will need to be acquired to build a long-proposed railway line.

Last week's announcement of a proposed rail corridor through homes and construction sites in the suburbs of Narellan, Harrington Park and Oran Park came as a surprise to locals.

"We're sitting here, ready to build a house, and we don't know what to do," Harrington Park resident Danny told 702 ABC Sydney Mornings with Linda Mottram.

Danny said he settled a purchase of a block of land in the Wildfire estate of Harrington Park two weeks ago.

Potentially the whole allotment of ninety-nine blocks, which was just settled in the last two or three weeks, will be gone," Danny said.

"It said in our contract that there would be a railway line running along The Northern Road, a couple of kilometres away."

The plan has now changed and the route is proposed to run through Oran Park, taking in Danny's property and many others nearby.

For the Orbital corridor, I would be guessing that there would be big cashed-up landholders/developers lobbying hard for routes that benefit them.
 
One major factor for consideration in this area is the Outer Sydney Orbital which is planned to include a freight line and also a future motorway.

Logically you would think the Metro line from Cudgegong Road will also be extended south in this corridor.

The problem is that decisions on the corridor won't be made until late 2016 at the earliest.

Having this infrastructure close by can either be good for or nasty for investment. Heavy rail freight lines are nasty to live next to unless you are a trainspotter.

http://www.transport.nsw.gov.au/sit...outer-sydney-orbital-newsletter-june-2015.pdf

If investing in this area I'd be picking a location very carefully. The risk still remains that it could turn an investment sour, particularly if you buy before the decision is made.

You've only got to look at the mess that infrastructure is causing for some owners in the southwest:

http://www.abc.net.au/news/2015-06-16/south-west-sydney-residents-shocked-by-rail-plan/6549026



For the Orbital corridor, I would be guessing that there would be big cashed-up landholders/developers lobbying hard for routes that benefit them.

Well, if the CityRail pays market price after the H&L package has been settled, then it is going to be a profit anyway for the Owner / Investors :)
 
Well, if the CityRail pays market price after the H&L package has been settled, then it is going to be a profit anyway for the Owner / Investors :)

The problem is they don't always pay market price. A situation which is usually followed by protracted and expensive court battles.

It's also problematic for the properties just next door that they don't acquire.

For example, motorways usually result in tall noise barriers. Nasty to live next to - and nasty to get a good price for if you try and sell.
 
One major factor for consideration in this area is the Outer Sydney Orbital which is planned to include a freight line and also a future motorway.

Logically you would think the Metro line from Cudgegong Road will also be extended south in this corridor.

The problem is that decisions on the corridor won't be made until late 2016 at the earliest.

Having this infrastructure close by can either be good for or nasty for investment. Heavy rail freight lines are nasty to live next to unless you are a trainspotter.

http://www.transport.nsw.gov.au/sit...outer-sydney-orbital-newsletter-june-2015.pdf

If investing in this area I'd be picking a location very carefully. The risk still remains that it could turn an investment sour, particularly if you buy before the decision is made.

You've only got to look at the mess that infrastructure is causing for some owners in the southwest:

http://www.abc.net.au/news/2015-06-16/south-west-sydney-residents-shocked-by-rail-plan/6549026



For the Orbital corridor, I would be guessing that there would be big cashed-up landholders/developers lobbying hard for routes that benefit them.

There are no plans to extend the cudgegong line anytime soon even though they opened up the corridor before houses are buillt there.

My mate bought a townhouse in Oran Park 2 yrs ago that hasnt been built yet and he just got told the train line will go over his property...just wonder what market price will be and whether its the price he paid or a higher price considering there's nothing else thats being sold similar to it
 
Where does it say Mirvac will build in Schofield? I couldn't find anything


As anyone been around the Schofield area in Western Sydney lately? I drove there with a friend to look at a house + land package earlier this week (she is not a resident so can only buy new), and I saw a lot of new developments.
- Newly bricked homes everywhere (all smallish in land size 300-400)
- Lots of empty land circled off, waiting to be developed
- Woollies next to station, with a Mirvac Shopping centre to be built? In the next few years according to the REA
- Gigantic Bunnings opened (makes sense since so many new homes building in the area), with an IKEA that is fully built and looks ready to open in a few months.
- Sydney Business Park hailed as the next CBD of Sydney West.
The packages start at low 600k for a 3/1/1, 380sqm, with rent projected to be around the high 4 -500+ mark.
Question is ? do you guys see any CG potential for the area, I realise it the area is still early in its development life, but maybe a good 5-10 year long term play?
Or has the price already increased to unrealistic levels to make the neg yield investment not worth while?
 
OK, so now it is Marsden Park & Riverstone turn to become as high as Schofield & The Ponds.

i have heard that valuation for land is coming up circa $50K of original contract price at time of land settlement for some estates around marsden park.

good CG for on Sub $400k land purchase...

H&L Packages are selling around $850k to $1.2M...
 
Where does it say Mirvac will build in Schofield? I couldn't find anything

Mirvac has been building in schofields for 2 yrs. they have an estate called "The Avenue". It hasn't been advertised on realestate.com or anything like that because they want a lot of owner occupiers to enquire.
 
Give companies a call if you have questions about their projects... Somersoft isnt the be all end all of information...
 
Marsden Park and Riverstone is a profitable opportunity.

i have heard that valuation for land is coming up circa $50K of original contract price at time of land settlement for some estates around marsden park.

good CG for on Sub $400k land purchase...

H&L Packages are selling around $850k to $1.2M...

Yes, hence it is surely a good profitable investment. But you have to be quick or maybe camp on the marketing office one day before the opening ;-) like some poeple did on Airds when it was released by Landcom.

But it is far from everywhere, I wonder what drives the economy and what can attracts renter to live in that place ?
 
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