South West Sydney- yay or nay?

[skater]

Sounds like you're taking this a bit personally. I should have said to clarify to people like yourself who go off the deep end that at the current market prices of SWS that it is in my opinion extremely risky.

You made baseless assumptions about the whole area due to knowing 'someone' who had an investment there once upon a time, and the only thing I did was set the story straight about some of the things that could have happened.

The OP is asking whether they should buy a property in SWS 'TODAY' and not when they were $90,500. So my question to you is would you buy a property in Liverpool TODAY when a house is 600k+ and a 2 bedder is 400k+ considering your great track record of wonderful tenants?

My comment was in response to this one of yours below.

So judging it purely as an investment vehicle, there is too much risk and little reward in terms of CG's.

I took it in the context of the rest of the post, which was quite emotive, and appeared to express the view of someone who had no rungs on the board, and was listening to hearsay.

IF I was to be looking to buy an IP TODAY, somewhere in Sydney, I would, in fact, consider SWS. I have been monitoring it, and it started to increase in value long after other outlying areas were rising. I think there is more room to grow there in this market than there is in other areas with a similar price point. I am, however not buying anywhere in Sydney. My money is going interstate at this point in time.

ZOMG, you can not confuse SWS to Inner West or the North Shore though. It is a completely different market.

 

[C-mac]

I'd love to go again anywhere in wider Sydney + 60km surrounds, BUT I just can't find anywhere that hasn't already rode in on the current wave. I have a feeling almost any nook and cranny suburb has been maximized in the current cycle..

I feel the same way about Newcastle +10km and Wollongong +10km too. I just can't see the value in dipping in, in this part of the cycle. I think though that some of the inland nsw regions might present CG and CF right now though.. Some due diligence on the likes of Goulburn and pockets of the greater Blue Mountains seems to confirm this. The question is; does one go 'regional' and forgo Sydney entirely, or start afresh on another Australian cap city altogether?

 

[WattleIdo]

The question is; does one go 'regional' and forgo Sydney entirely, or start afresh on another Australian cap city altogether?

Good question. NSW is certainly powering.
Surely going to another capital city and going regional NSW would be ideal. The thing to do with country areas would be to buy well under median price and reno where needed.
But why Goulbourn when it's done the same as Sydney? I'd go further afield and investigate where there is non-stop development going on.

 

[ZOMG]

ZOMG, you can not confuse SWS to Inner West or the North Shore though. It is a completely different market.

Hey Skater

Forgot I actually made this thread. I'm aware it has some different dynamics compared to Inner West and North Shore, especially regards to demographics, employment data and growth drivers.

I've worked in the SW before (Ingleburn and Campbelltown) for nearly 2 years and part of my job was to actually go into the homes in the area to see clients from disadvantaged backgrounds. Thankfully I'm still alive

In all honesty it's not as bad as the reputation it gets. Pure speculation but I could see the area around Liverpool gentrifying in the next decade or so as all the areas around Sydney CBD become unaffordable to most of the next gen. The SW is still relatively affordable and most of my colleagues that were from the area choose to stay in the area rather than move closer to Sydney CBD.

Overall I've decided to invest in other areas in NSW/QLD not because SW isn't a good investment area, just that the other areas I've located fit my overall goals better.

 

[skater]

I've worked in the SW before (Ingleburn and Campbelltown) for nearly 2 years and part of my job was to actually go into the homes in the area to see clients from disadvantaged backgrounds. Thankfully I'm still alive

I both lived & worked in Campbelltown in my youth and saw some 'very interesting' things.

In all honesty it's not as bad as the reputation it gets.

No, it's not. Yes, there are dodgy people around there, but the majority are just normal, everyday people.

Pure speculation but I could see the area around Liverpool gentrifying in the next decade or so as all the areas around Sydney CBD become unaffordable to most of the next gen. The SW is still relatively affordable and most of my colleagues that were from the area choose to stay in the area rather than move closer to Sydney CBD.

I agree! Over time all the outer areas will improve.

Overall I've decided to invest in other areas in NSW/QLD not because SW isn't a good investment area, just that the other areas I've located fit my overall goals better.

I thought it might have been because Sydney (all of it) was hot, hot, hot.

 

[Weteggs]

Y
I took it in the context of the rest of the post, which was quite emotive, and appeared to express the view of someone who had no rungs on the board, and was listening to hearsay.

IF I was to be looking to buy an IP TODAY, somewhere in Sydney, I would, in fact, consider SWS. I have been monitoring it, and it started to increase in value long after other outlying areas were rising. I think there is more room to grow there in this market than there is in other areas with a similar price point. I am, however not buying anywhere in Sydney. My money is going interstate at this point in time.

I have 2 IP's in the inner west bought just after the GFC in 2009 and the PPOR in lower north shore. I am keeping an eye on the market to actually sell one of the IP's to cash in equity probably closer to the end of the year when there's another interest rate decrease or two which has the potential to sky rocket prices.

If I were to buy now I would consider Brisbane or Toowoomba. The Sydney market is one to sell in at the moment and not buy in.

 

[JohnHenry]

I'd love to go again anywhere in wider Sydney + 60km surrounds, BUT I just can't find anywhere that hasn't already rode in on the current wave. I have a feeling almost any nook and cranny suburb has been maximized in the current cycle..

I feel the same way about Newcastle +10km and Wollongong +10km too. I just can't see the value in dipping in, in this part of the cycle. I think though that some of the inland nsw regions might present CG and CF right now though.. Some due diligence on the likes of Goulburn and pockets of the greater Blue Mountains seems to confirm this. The question is; does one go 'regional' and forgo Sydney entirely, or start afresh on another Australian cap city altogether?

Why not invest in Wollongong area or in Jordan Springs for a new area in Sydney ?