Sydney West Vs. Sydney Further West

[Sharpstone888]

I live in Sydney's western suburbs and am interested in a 300K 3 bedder house. I can buy an older style house (1960s-1970s) in Blacktown, or move further out west for a younger house (1990s) in glenmore park (south penrith).

What does everyone think?
The older one will have lower maintenance, but the big thing is which will provide more capital growth. I'm thinking the Blacktown one as parramatta which is closer in has increased (became city-ised), the next major (train) hub is Blacktown, so you think that it would flow out.
Now if you use the flow out method, you would guess that penrith (the next and last major train hub) would increase but slower??

Any thoughts??

Chris

 

[Nathan]

If that is the case... why are both same price? horses for courses... depends what you want to get from them...

id prob go for blacktown... depends where in blacktown aswell.

 

[skater]

I wouldn't touch Glenmore Park with a barge pole. It is horrible to get into and out of at the best of times. Don't try it in peak hour traffic. This was a once sought after suburb with lots of expensive homes. Affectionately called Glenmortgage Park by some Westies when the building process was starting out, due to the huge mortgages required compared to other newish estates in the area. Prices have pulled back at Glenmore Park as locals are aware of the traffic problems.

 

[evand]

How long are you thinking of keeping the house? Shouldn't be much difference in cap growth long term. Why would there be?

Its not like you're comparing Manly to Werrington.

 

[Witzl]

I would prefer blacktown myself.

The winding roads of death that make up Glenmore Park are as messy as a bowl of spaghetti... i dont like that, it doesnt make good long term sense to mefor future town planning/development

 

[PrimeCommercial]

Yep Blacktown.
Close to M2/M4/M7
5 industrial precincts within 10 minutes, Eastern Creek, Arndell Park, Seven Hills, Norwest and Kings Park.
Better serviced by public transport.

 

[Sharpstone888]

Thanks guys, I'll think I will be going with Blacktown.

Shady you made some very good points thanks

Cheers,
Chris

 

[evand]

If you follow the logic below, why isn't Blacktown a lot more expensive than other outer western suburbs?

Yep Blacktown.
Close to M2/M4/M7
5 industrial precincts within 10 minutes, Eastern Creek, Arndell Park, Seven Hills, Norwest and Kings Park.
Better serviced by public transport.

 

[Sharpstone888]

The houses in Blacktown are old fibro, whereas Glenmore park is new and brick.

Chris

 

[Mom]

Blacktown is actually more expensive than say Minto and Leumeah

 

[Sharpstone888]

Blacktown is actually more expensive than say Minto and Leumeah

Could anyone give me a reason to invest in Blacktown rather than Minto/Leumeah? I don't know the area well.

Cheers,
Chris

 

[Nathan]

minto is more like mt druitt, blacktown is more like campbelltown

 

[Sharpstone888]

I wouldn't touch Mt Druitt, therefore I won't touch minto

 

[skater]

I wouldn't touch Mt Druitt, therefore I won't touch minto

Nothing wrong with Mt Druitt. Minto is being demolished and there is a new Housing Estate going in instead.

 

[Sharpstone888]

Hmm, new housing estate, i dont think I could afford that.

My best bet at the moment is Blacktown, I've been doing alot of research and organising finance, i'll wait till Feb then I'll pounce.

Chris

 

[Mom]

What about frequent storm in Blacktown. Does it affect your building insurance?

 

[Nikolina]

What frequent storms? we had one last yr that did alot of damage and that's it. As for Glenmore park i recently brought an investment property their which is positive geard. The house next door to mine sold a few years bk when the market was strong for alot more then what i purcharsed mine for. My property is also double the land size of most homes in the street, you can get a good buy their you just got to keep your eyes open and i dont think their is anything wrong with the area.

 

[Sharpstone888]

I'll keep my eyes open for opportunities. thanks everyone

 

[Ridin-High]

What frequent storms? we had one last yr that did alot of damage and that's it. As for Glenmore park i recently brought an investment property their which is positive geard. The house next door to mine sold a few years bk when the market was strong for alot more then what i purcharsed mine for. My property is also double the land size of most homes in the street, you can get a good buy their you just got to keep your eyes open and i dont think their is anything wrong with the area.

Positivily geared how

via

- large deposit
- multi leased
- extremely cheap buy and high yield?

 

[Tman]

with 300k you can get 3 brooms fibro house in Fairfield & Toongabie

so why would you go down to Minto or Mt Druite