Thoughts on Ermington

Looking at purchasing IP around $500K - $600K mark...with granny flat if possible...to reduce repayments. Also would like some capital growth when the market decides to pick up. Any thoughts on why Ermington has increased in value so much over the last 3 yrs and whether you believe this will continue? Seems like a pretty big housing commission area and not so aesthetically pleasing...why does it seem to have good CG? am i missing something....?
Also second question....any opinions on whether I should invest in something closer to the city i.e....ermington and surrounds or go out west like Quakers Hill?.....i've always heard closer to the city is the way to go..any truth in this? even though west also increases in value...does it also fall quickest when market has a downturn....
Any thoughts would be great.
 
Ermington

Hiya

I call this "my suburb that got away:eek:"

Why capital growth? Take out a map and you will see:

a) some parts near water
b) big blocks of land perfect for granny flats or subdivision
c) look how close it is to Parramatta, Sydney's 2nd CBD...
d) close to uni

Like you, i had the "housing commission" blinkers on....:(

But, with the price increases, i am not so sure whether numbers stack up now...
 
I know... but there are still so many issues that I have with it....do you think it will continue to rise so quickly....what was $550 about 3 yrs is now about $700....still may be affordable...what about surrounding Rydalmere? Or dundas? do you think these are better or about the same?
 
WHo knows?

Hiya

You want to be careful of Rydalmere as some houses are authorised brothels....er...unless..your strategy is along those lines.:p
 
Back
Top