People who talk about Mt Duuitt gentrifying have blinkers on .
Places that gentrify have something specific that makes them targets. Places like Paddington , Redfern and Newtown were all working class suburbs at one time , BUT they were close to the city .
Somewere like Mortlake was an industrial dump , BUT was on Sydney harbour .
Mt Druitt is in the middle of no where . It has no redeeming geographical feature . It's not on the harbour or a river , it's not a leafy area . The only place it's convenient to is Mt Druitt . It has moved purely because it was the cheapest place in sydney so was the most affordable place in Sydney for investors . The Herd at work .
Anyone who thinks that their due diligence on the area is the reason why it's
moved is kidding themselves. When I first got involved in investing , I spent about a year in analysis paralysis . Checking out everywhere looking at historical data and you know what . With a few exceptions EVERY THING GOES UP . Ok there are exceptions which is why I steer clear of mining towns . I generally go for capital cities or major regional towns. Smallest place I've bought in is rocky , but it has a diversified economy . I am looking at a smaller town now , but I think there are reasons why that will perform .
If anyone thinks there is something Special about Mt Druitt should stop smoking that stuff they bought out the back of Macca's at Emerton ...
I stopped working there 7 years ago and a little while ago was reassured that the area I worked in had changed and was much nicer . Curiosity got the better of me and I checked .
Same old same old ...
Cliff