sydney Mid west

These 2 suburbs are predominately Korean's that are priced out in Strathfield. Have a colleague who has an apartment in Lidcombe near the station. There were over 80% Korean in the complex..
 
I had a fling with a Chinese lady just recently and she was telling me that they like property situated within 15-20 km from any major city.

Places like Auburn and Lidcombe (even though there are many Koreans in Lidcombe) are thumbs up areas for the Chinese. Berala also. Any further out is ignored.
 
While I was working at Lidcombe a few years ago, the suburb had already become quite pricey because the Koreans decided to make it their own. They have community groups, churches, etc. and know that they will make it the way they like it and that more and more Koreans will buy there.

There were already quite a few Vietnamese and Chinese living there too.

It actually is a good place with all that vacant land (Rookwood), lots of main roads and a station.


Chinese ... they like property situated within 15-20 km from any major city.
Click to expand...

Very interesting. This seems to be true.
Did she say why? My guess is that it's the property that has more potential to grow and that it's still affordable and spacioius??
And is that just in Australia? Or all over?
 
WattleIdo said:
It actually is a good place with all that vacant land (Rookwood),
Click to expand...

Rookwood ...Vacant land ...:rolleyes:

Probably one of the densest " populated " places in Sydney . Lots of land , lots of people , Lots of nice grave stones ....

Australia , where the bloody hell are you .... Buried ... in Rookwood :eek:

Cliff
 
:)

I know

but it doesn't seem to bother people that much

People drive through, cycle, walk, take dogs ... (no bone jokes, please)

Surely they can't keep using it much longer, can they??
 
Will come to grief when either rates go up or the Chinese credit bubble bursts!

I saw this in 2003-3004 in Sydney....be warned now is definitely not the time to buy in Sydney!

Granny said:
Just checked recent sold auction prices in Central south west thinking they would be cheaper since near auburn bankstown.

Wow. Old scary houses even cost more than i expected. Wonder why? Maybe the chinese are moving there?

E.g Berola 940k http://www.domain.com.au/property/for-sale/house/nsw/berala/?adid=2011045607

Lidcombe 1.125 mil http://www.domain.com.au/property/sold/house/nsw/lidcombe/?adid=2011045144
Click to expand...
 
sash said:
Will come to grief when either rates go up or the Chinese credit bubble bursts!..
Click to expand...

Chinese Govt. will simply pump more money into their economy to reach their 7.5% minimum growth like they did last time.

If people can't afford a rate rise they shouldn't be investing.
 
WattleIdo said:
Very interesting. This seems to be true.
Did she say why? My guess is that it's the property that has more potential to grow and that it's still affordable and spacioius??
And is that just in Australia? Or all over?
Click to expand...

Mainly capital cities of Oz where there are decent universities and colleges. And anywhere in the developed work where there is a decent education. It seems the Chinese pamper their one and only child like you wouldn't believe.

The parents stay in China and work while their adolescent child is sent abroad to study. They have plenty of $$$, some of which is remitted to their child.

There is a network of Chinese in and around the city that help each other. Its quite amazing really. They are such lovely people, decent and hardworking (but I'm sure there's always the exception lol)
 
Actually the Chineses govt is trying to put controls on this.

They made cheap money available during the GFC...now they are training to rein the run away caboose.....will be interesting to watch over the next 203 years.

impala67 said:
Chinese Govt. will simply pump more money into their economy to reach their 7.5% minimum growth like they did last time.

If people can't afford a rate rise they shouldn't be investing.
Click to expand...
 
datto said:
Mainly capital cities of Oz where there are decent universities and colleges. And anywhere in the developed work where there is a decent education. It seems the Chinese pamper their one and only child like you wouldn't believe.
Click to expand...

I've taught a lot of these kids and they're great students (and very rich).

They repay their parents by studying and achieving in the ways that they are directed. Chinese/Asians very sensibly value education and make it their top priority.

They are such lovely people, decent and hardworking.
Click to expand...

Agree. They also value common sense with money and that's why it's a good idea to keep an idea on where they decide to buy.



My grandfather and great grandfather lives there. no-one can touch that place
Click to expand...
I have relos in there too. Wonder if it will be a park one day, though.
Anyway, it's a wide open space - relief from streets, blocks of units etc.
Click to expand...
 
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