Thought on Mt Druitt Surrounding Area, 2770

datto said:
Anyway, Letho - love it or loathe it - people still made a lot of loot out of the area.
Click to expand...

Agree with that . I don't loathe it . Financially I did well working out there .

I worked out there for 19 years ... but its' the only place I've been assaulted ( twice ) .

People will do well out there if they get the timing and the properties correct and I think those who don't know the area need to be aware there are some problems out there .

If I was buying in that type of market at the moment I'd be looking at in Q'land at Logan , Ispswich , caboulture , but that's from the timing view point.

Cliff
 
Logan has one thing Mt Druitt does have ...

Palm Trees

After our first day in Logan , I looked at my wife and Said " Mt Druitt with Palm Trees "

Cliff
 
thank you all for the feedback, much much appreciated and it is really good to see different point of view from different investors

So I still think the CG will go up eventually just because of the market. I decided to buy into this suburb because of the price, it is still reachable and good yield at least CF neutral or positive

I'm thinking of diversifying my portfolio to another state (most likely QLD)
 
datto said:
TNT, I reckon the area is dynamite!

Less Houso's. I think you are right and your mate has somewhat missed the point. The only reason the area was crappy was because of the crappy people. Now there is less of them. Now you can get big blocks !

Remember there was a time when Balmain was a crappy area. Things change.
Click to expand...

This comment amount Balmain is the a fantastic mentality for a property investor.
Property is for the long term... if the right drivers are in the area, you can get a good price and you are in it for the long run, then you are doing all you can.
Personally i think most of the suburbs close to blacktown are a good pick.

Watch this space! In 25 years we will be saying "Remember there was a time when Blacktown was a crappy area. Things chance."

___________________________________________
www.loansource.com.au | Comprehensive Loan Mortgage Calculator.
Extra Payments, Stamp Duty, Capital Growth, LMI, Compare Loans, Amortisation, Graphs, Time & Interest Saved & Much Much More !!
 
Ropes crossing to me is expensive and it is similar the ponds. Personally I don't like to buy Home and land package - new development, and I think the land is small as well. I'd rather buy a crappy house in established suburb
 
carllarz said:
This comment amount Balmain is the a fantastic mentality for a property investor.
Property is for the long term... if the right drivers are in the area, you can get a good price and you are in it for the long run, then you are doing all you can.
Personally i think most of the suburbs close to blacktown are a good pick.

Watch this space! In 25 years we will be saying "Remember there was a time when Blacktown was a crappy area. Things chance."

___________________________________________
www.loansource.com.au | Comprehensive Loan Mortgage Calculator.
Extra Payments, Stamp Duty, Capital Growth, LMI, Compare Loans, Amortisation, Graphs, Time & Interest Saved & Much Much More !!
Click to expand...

Balmain , like paddington and redfern , Newtown are centrally located areas . Balmain is on the water .

That is typical of areas that undergo urban renewal . There are similar places in most major cities . Port melbourne springs to mind .

Mt Druitt isn't . It's in the middle of non descript lower class suburbia .

Can you point to similar area in other cities that have moved up market ?

I can't think of one .

I'm not saying that mt Druitt prices won't go up , and that it isn't a good place to invest . With time the area may get cleaned up to a degree , but I wouldn't be holding my breath for it to move upmarket compared with surrounding areas .

If you were looking for a similar area to change , then I'd be putting my money on Frankston . Why ? It's on the bay . Might take a few years though.

Cliff
 
see_change said:
Balmain , like paddington and redfern , Newtown are centrally located areas . Balmain is on the water .

That is typical of areas that undergo urban renewal . There are similar places in most major cities . Port melbourne springs to mind .

Mt Druitt isn't . It's in the middle of non descript lower class suburbia .

Can you point to similar area in other cities that have moved up market ?

I can't think of one .

I'm not saying that mt Druitt prices won't go up , and that it isn't a good place to invest . With time the area may get cleaned up to a degree , but I wouldn't be holding my breath for it to move upmarket compared with surrounding areas .

If you were looking for a similar area to change , then I'd be putting my money on Frankston . Why ? It's on the bay . Might take a few years though.

Cliff
Click to expand...

Hi Cliff
I have continually read posts regarding Frankston and the forecast for growth this is been over the last 4 years, but nothing exciting has happened, just lots of talk I believe??
 
RetireRich101 said:
Your Investment Property
23 suburbs where prices will increase faster
http://www.yourinvestmentpropertyma...where-prices-will-increase-faster-183568.aspx

2 x 2770 in that list, and a number of surrounding western sydney postcode in that list as well.
The median price in this list however appears to be lagging behind what is on offer on the market today.
Click to expand...

RR101
Thanks for posting this, what's your pick on this list??
Just curious.
I think I may look closer at Wyoming, and yield is not bad
 
Wyoming

House Median
Jan 2013
Wyoming 328k
Gosford LGA 410k

Dec 2013
Wyoming 339k (3% increase)
Gosford LGA 500k (22% increase)

Wyoming has been flat (from numbers point of view) for last 3 years, in the low 300k range.
If there are catching up to be played here, then Wyoming is set for growth.

I have colleagues working in Chatswood/North Sydney and lives in that part of central coast, and don't find problem commuting on daily basis.
 
RetireRich101 said:
House Median
Jan 2013
Wyoming 328k
Gosford LGA 410k

Dec 2013
Wyoming 339k (3% increase)
Gosford LGA 500k (22% increase)

Wyoming has been flat (from numbers point of view) for last 3 years, in the low 300k range.
If there are catching up to be played here, then Wyoming is set for growth.

I have colleagues working in Chatswood/North Sydney and lives in that part of central coast, and don't find problem commuting on daily basis.
Click to expand...

Great, thanks for info, Gosford has certainly moved
 
see_change said:
Balmain , like paddington and redfern , Newtown are centrally located areas . Balmain is on the water .

That is typical of areas that undergo urban renewal . There are similar places in most major cities . Port melbourne springs to mind .

Mt Druitt isn't . It's in the middle of non descript lower class suburbia .

Can you point to similar area in other cities that have moved up market ?

I can't think of one .

I'm not saying that mt Druitt prices won't go up , and that it isn't a good place to invest . With time the area may get cleaned up to a degree , but I wouldn't be holding my breath for it to move upmarket compared with surrounding areas .

If you were looking for a similar area to change , then I'd be putting my money on Frankston . Why ? It's on the bay . Might take a few years though.

Cliff
Click to expand...

I find myself agreeing with this. Inner city areas are always going to more likely to be gentrified due to housing style, location and surrounding areas.

Outer ring suburbs? Less so.

The question is, does there reach a point where every area within commuting distance to the CBD is gentrified to such an extent that anyone on a lower wage cannot realistically live there?
 
MTR said:
Hi Cliff
I have continually read posts regarding Frankston and the forecast for growth this is been over the last 4 years, but nothing exciting has happened, just lots of talk I believe??
Click to expand...

Lots of places go sideways for a number of years . Our PPOR in Wahroonga probably went sideways for around seven years , it has gone up around 20 % in the last year . I think it will go up a further 20 % in the next two years , possibly in the next year . That's how most markets work .

Once it goes up that extra 20 % we'll probably sell, and who knows , if Frankston north still hasn't moved, it will be a two years closer to moving . And we might buy there .

Cliff
 
Is it still worth buying in 2770?

Hi,
I am new to SS and don't know how to open a new thread. But my question is similar to this thread.

Do you think it is still worth buying in theses suburbs. These days they advertised properties for 330K , let's say Willmot. Is it worth paying that money to a property in that area? Will the prices go up, specially with the new Marsden park developments.
We bought a property in 2012 , North St Marys for 275k, and so far it did really well.
Hoping to buy 2 properties under 350k , BUT....
 
busymama said:
Do you think it is still worth buying in theses suburbs. These days they advertised properties for 330K , let's say Willmot. Is it worth paying that money to a property in that area? Will the prices go up, specially with the new Marsden park developments.
We bought a property in 2012 , North St Marys for 275k, and so far it did really well.
Hoping to buy 2 properties under 350k , BUT....
Click to expand...

I will sell you my 3 bedder in Willmot for $300k :D
 
DaveM said:
I will sell you my 3 bedder in Willmot for $300k :D
Click to expand...
I'll take you upon that offer, Dave ;)

My brother didn't buy a 3bdr brick home (2006 built?) on 600sqm for $300k about 6 weeks ago and is regretting it. It was literally 100m walk to Ropes Crossing where you're paying $450-500k minimum for a basic 3bdr house on 350sqm land. Sure it's a little nicer than Willmot but one would think that this price gap cannot exist forever.

datto said:
You shoud get that on the open market now. No?
Click to expand...
No, he won't get anything near that.. except if he sells to me :p
 
You must log in or register to reply here.

Similar threads

G
St Marys/Colyton Vs Old Mt Druitt Vs rest of 2770 (DOH areas)
2
Replies
21
Views
4K
skater
skater
MsAli
Toongabbie - Getting upgrades to the train station, area lifiting up
Replies
10
Views
3K
gach2
G
D
Investment Advice Needed - Melbourne
2
Replies
26
Views
5K
DinoJess
D
A
Thoughts on outer Eastern - VIC
Replies
13
Views
2K
gronk007
G
Jake Milne
Deer Park - Write Up
2 3
Replies
44
Views
11K
Roos1
R
Back
Top