A lot of poor quality undeveloped land too. The good stuff out that way went 5-10 years ago. All the new estates are horrible. The blocks are smaller, the land is in the lower lying areas, no parks and trees etc. Just very poorly planned, they will look like ghetto's in 20 years.
Sydney Market at top - calling a severe correction in 2018-2019
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A lot of poor quality undeveloped land too. The good stuff out that way went 5-10 years ago. All the new estates are horrible. The blocks are smaller, the land is in the lower lying areas, no parks and trees etc. Just very poorly planned, they will look like ghetto's in 20 years.
thats the main reason we chose Bunya over the Ponds. infrastructure already there, and it's a smaller estate. Plus it seems there's a lot going on in the area.
I'm hoping it's enough to sustain the CG we've seen there in the last couple of years
Cliff,
Why is that there will be some problem in those are where new Infrastructure is being built there ?
if it is due to the Tunnel stacks like in Turrella suburb for M5, then yes I understand that part. But for Parramatta ? I cannot understand the reason for it becoming a slum
I've read this article from the trustworthy blog: http://www.realestate.com.au/blog/investor-hotspots-may-2015/
and that article was cited by most of the R/E agents
I don't think the new infrastructure will be a problem , but I don't think it will stop areas in the west dropping during the next slump and I don't think it will boost realestate prices in those areas significantly in the next few years .
I don't think parramatta will become a slum ... But it has had some level of social problems for a long time and I think those aren't going away any time soon .
I read hot spots form time to time . My experience ( for the last 14 years of being on the forum ) is the general consensus on this forum is more accurate than any blog or media recommendation . They seem to be recommending places in Sydney as the current hot spots ( and places to buy ) . Personally I would discount ANYTHING THEY SAY , if that is their conclusion .
They are in the profession of making money from their recommendations .
Cliff
My girlfriend lives there with her family...I think the place is really nice.. The demand is probably just as high at beaumont hills than kellyville which would be why Beaumont's houses are pricier.. You'll be paying a lot of money for it. I seen single storeys selling for 950k
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Could we get some elaboration on why the West/Parramatta will be hit the hardest? I remember in the last 2 "stagnations" the west performed admirably. In the post GFC stagnation, some prices even dropped in wealthier suburbs but held in the west.
I believe the strong migrant presence + the improved lifestyle/experience of the west will keep it going strong for a long time to come. I think, as a general guide, suburbs above the m4 are improving at rates better than those south of the m4. Even 2770 isn't bad anymore! The negative stigma associated with the west is pretty focused on the other side of sydney
I believe the strong migrant presence + the improved lifestyle/experience of the west will keep it going strong for a long time to come. I think, as a general guide, suburbs above the m4 are improving at rates better than those south of the m4. Even 2770 isn't bad anymore! The negative stigma associated with the west is pretty focused on the other side of sydney
Because it's gone up hardest this time.
Last Friday, was craving bbq chicken so I went to paradise at 2770, I reverse parked and the guy in the car behind me got out, started swearing his head off "how the f%^# am I gonna get out, etc etc" I saw what was happening, so I got back in my car, moved my car forward, got out of my car, went up to the guy and ask him if he was cool, he gave me the thumbs up and everyone was happy.
Two weeks ago, I was craving Korean bbq, so I went to Strathfield on a Sunday night. at a council carpark, a woman, went it to a car space, out of no where, this Korean man in his 50's drove straight up to her car aggressively, flashing his high beams, horn is on non stop, he is screaming his head off in Korean, I had nfi what he was going on about, but at this point, the woman is very distraught and scared, even though she had the claim to the spot, she didn't want trouble and wanted to give the man the spot, the man kept beeping, got out of his car screaming at the woman. I got out of the car, told the man to stfu, and get back into the car and let the woman out. He continued screaming at me and the woman in Korean and I just laughed in his face. The man started slapping the car of the woman, so I grabbed him and pushed him back into his car and told him to calm down and let the woman out. We ended up spending 20 minutes to find parking and I parked really far away and had to walk 10 minutes back into town.
Who is more of a scumbag? the bogan from who got parked in at 2770 or the Korean man who couldn't even speak English trying to intimidate women over parking spots?
Where is more of a slum? suburban 2770 or Strathfield gridlock city?
Give me a house in 2770 with a shed, my tools, my motorbikes , my cars my boat, my dog, my mancave with pingpong table, pool table and gym anyday over a 2 br apartment in Strathfield where I am surrounded by stressed out people on a knife edge ready to bash women.
There's a lot of speculative investment in both 2770 and Strathfield but the thing is, Strathfield provides a lot of stock that nearly every suburb in nsw has, but 2770 has stock that can cater for specific lifestyle or household size that is at a pricepoint better than anywhere else in metro Sydney. Which do you think will hold up more in a market downturn?
Two weeks ago, I was craving Korean bbq, so I went to Strathfield on a Sunday night. at a council carpark, a woman, went it to a car space, out of no where, this Korean man in his 50's drove straight up to her car aggressively, flashing his high beams, horn is on non stop, he is screaming his head off in Korean, I had nfi what he was going on about, but at this point, the woman is very distraught and scared, even though she had the claim to the spot, she didn't want trouble and wanted to give the man the spot, the man kept beeping, got out of his car screaming at the woman. I got out of the car, told the man to stfu, and get back into the car and let the woman out. He continued screaming at me and the woman in Korean and I just laughed in his face. The man started slapping the car of the woman, so I grabbed him and pushed him back into his car and told him to calm down and let the woman out. We ended up spending 20 minutes to find parking and I parked really far away and had to walk 10 minutes back into town.
Who is more of a scumbag? the bogan from who got parked in at 2770 or the Korean man who couldn't even speak English trying to intimidate women over parking spots?
Where is more of a slum? suburban 2770 or Strathfield gridlock city?
Give me a house in 2770 with a shed, my tools, my motorbikes , my cars my boat, my dog, my mancave with pingpong table, pool table and gym anyday over a 2 br apartment in Strathfield where I am surrounded by stressed out people on a knife edge ready to bash women.
There's a lot of speculative investment in both 2770 and Strathfield but the thing is, Strathfield provides a lot of stock that nearly every suburb in nsw has, but 2770 has stock that can cater for specific lifestyle or household size that is at a pricepoint better than anywhere else in metro Sydney. Which do you think will hold up more in a market downturn?
The interpretation of slum and scum in Sydney have been significantly redefined over this last boom.
A place that was once classed as an undesirable place to live might not be so bad on the ground, and a place that was once seen as a very desirable place to live with plenty of amenity, transport, employment might not be what it seems on the ground. Strathfield is identified as a key centre of Sydney. The metropolitan strategy's aim was to identify key suburbs, connect them, and jack them up with amenity, employment and density.
It is a major stop on the rail line, but in my opinion, the density is there and it has been there for years but everything else isn't. It has a lot of catching up to do. When you take away the hype of such a hot market, these cracks suddenly become a lot more apparent.
the discussion is about Sydney and the anticipated correction...any investor is going to look at who's buying and why they're buying...
You can't beat Strathfield's proximity to parra and Sydney cbd, and who knows, maybe the demographics or cultures that buy into Strathfield are happy to keep living like this because it's still a lot more chill than their homelands. one thing's for sure there's gonna be plenty of punch on's over parking lol
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My03 and abdoug
Bottom line is that your average 3 bidder in 2770 does go down .
Two pearls ago 100 k , trough around 65
Next peak 240 , trough around 170-180
Next peak ? , next trough ??
there are a lot of people who don't manage their lives and finances who live and invest in 2770 , hence there is a constant stream of forced sales,Mao when the market is dead , there are deals to be had there and in other places like it such as Logan .
I'll be advising my kids to invest there in the next slump , but not now .
So will skater and a few others on the forum .
Cliff
Bottom line is that your average 3 bidder in 2770 does go down .
Two pearls ago 100 k , trough around 65
Next peak 240 , trough around 170-180
Next peak ? , next trough ??
there are a lot of people who don't manage their lives and finances who live and invest in 2770 , hence there is a constant stream of forced sales,Mao when the market is dead , there are deals to be had there and in other places like it such as Logan .
I'll be advising my kids to invest there in the next slump , but not now .
So will skater and a few others on the forum .
Cliff
That's hilarious.
Just to confirm, you live in the suburb struggle street was taped in and you're talking down about residents of strathfield?
There's good and bad in every suburb, some more than others. I'm gonna take a wild guess that maybe one or 2 exist in yours too
Totally agree, was just more raising the question of which market would hold up more, 2770 or Strathfield.
You mean you're advising your kids to invest in 2770 or logan next slump?
Nah, I Actually live in Pymont next to the casino, down near the water lol, I walk or ride my bike across Pyrmont bridge to work takes me 10 minutes. happy days, but yeah there's houso's here too and glebe...you don't need to go to 2770 to see characters in Sydney lol.
All im saying is, I personally think stratty might take a bit of a hit if the market falls, but who knows, maybe the people living there are loving life and think it's god's country. Besides, what would I know? Just making an observation, I get around a bit, I Live in Pyrmont, I hang out in 2770, I travel all the way from Ulladulla to Seventeen Seventy (wherever the currents take me), to me, stratty is pretty bad...from a urban planner's point of view, Sydney is a disaster, but stratty is a bit like a girl with a hot body but unattractive face. it's got the name and the location but it doesn't have all the other stuff to back it up...when you're drunk, you don;'t really mind, but when you sober up, you might
To be fair I do spend some time in fairly dero areas of perth but I was quite impressed by high number of dropkick in 2770 when I went there years ago
Gentrifying rapidly. Even Blacktown is starting to look like a little Parramatta from 10 years ago. They have the first CBD high rise coming up (the other was on the skirts), worth a search in real estate.com, just put blacktown in the search and its one of the first listings. My jaw dropped when I saw going rates too! You know one things for sure, and that is that its getting harder for stereotypes attributed to a very low socio-economic + white status to live in these areas.
You know its said that Parramatta is a great option for a second CBD because its easier to develop than around Sydney, which is more established. Blacktown CBD actually has a lot of room for development. There are still many empty lots in its CBD!
You need to stop eating takeaway food.
Blacktown, man has that places changed! Still heaps of kids wearing nautica hats outside westfield though!
Yep!
To be fair, yes, there are dropkicks, usually hanging out at the shopping centre, but that isn't any less than what I've seen at other shopping centres.
