Hi everyone
Just wondering what your thoughts are on investing in the outskirts of Sydney, specifically the South West areas of Leumeah / Minto / Macquarie Fields and also the Western Suburbs of Tregear / Lethbridge Park / Doonside / Woodcroft?
I realise of course that they are all housing commission areas, but they are also just about the only thing within my price range, especially the ones near Blacktown. I noticed some people posting that they stay away from Minto/Macquarie Fields, although I have to say that having visited all the areas, I find Wilmott etc scarier than anything I saw at Macquarie Fields! And most of Minto's housing commission is being sold anyway.
Tregear is right next door to Ropes Crossing, shouldn't that affect values in a positive way (eventually)?
I just can't help thinking that the gap between the prices in these suburbs and elsewhere has to narrow at some point, I mean $200,000 is not that bad, it IS Sydney after all, can the prices possibly get any lower? And the housing commission stock is slowly being sold because the housing department has no money - all their properties in these areas are around 40 years old, they simply can't afford to fix them all so they sell some off and use the money towards building new higher density stock. And they've finally realised that creating ghettos is probably not a good idea.
So, in a long winded kind of way, what I want to know is - is it worth it? Do any of you buy in these areas and what is your strategy, buy and hold? Renovate and sell?
Thanks in advance, hoping for some insights!
Kamila
Just wondering what your thoughts are on investing in the outskirts of Sydney, specifically the South West areas of Leumeah / Minto / Macquarie Fields and also the Western Suburbs of Tregear / Lethbridge Park / Doonside / Woodcroft?
I realise of course that they are all housing commission areas, but they are also just about the only thing within my price range, especially the ones near Blacktown. I noticed some people posting that they stay away from Minto/Macquarie Fields, although I have to say that having visited all the areas, I find Wilmott etc scarier than anything I saw at Macquarie Fields! And most of Minto's housing commission is being sold anyway.
Tregear is right next door to Ropes Crossing, shouldn't that affect values in a positive way (eventually)?
I just can't help thinking that the gap between the prices in these suburbs and elsewhere has to narrow at some point, I mean $200,000 is not that bad, it IS Sydney after all, can the prices possibly get any lower? And the housing commission stock is slowly being sold because the housing department has no money - all their properties in these areas are around 40 years old, they simply can't afford to fix them all so they sell some off and use the money towards building new higher density stock. And they've finally realised that creating ghettos is probably not a good idea.
So, in a long winded kind of way, what I want to know is - is it worth it? Do any of you buy in these areas and what is your strategy, buy and hold? Renovate and sell?
Thanks in advance, hoping for some insights!
Kamila