Thoughts on Westmead vs Homebush West??

[rafters]

Hi All

Looking at purchasing 2 bds unit in Westmead or Homebush West...quite different areas (both same kind of price range, but one is closer to CBD one is closer to Parra CBD).

I can afford up to $350K...thoughts on:
CG?
Yield?
Overall preference and thoughts??

Would really help......!!!!

 

[dajackal]

im no expert, just started looking into the homebush west market...but here's my views

homebush west pros
-considered inner west
-closer to cbd
-attractive for asian migrants
-newish units can be bought for <350k (not sure about westmead)
-good depreciation for the newish units
-yields just under 6%

homebush west cons
-may be considered too 'ethnic'
-may be too densely packed with units
-historic cg is pretty lame

 

[HappyCamper]

homebush west cons
-may be considered too 'ethnic'

Agree with most of what you've said, but I'd probably say Westmead is equally 'ethnic'.

 

[sash]

Both of them have a high proportions of migrants from India, Sri Lanka, & China.

These immigrants tend to have money. Thus these suburbs will tend to grow.

Sydney is now an ethnic city.....and wealth is now starting to be evenly spread across all areas. I went to Cabramatta and was showed at some of the huge mansions being built.

I feel areas like Homebush, Auburn, Lidcombe, and Flemington will start pushing up in terms of prices because they are close to both the Sydney and Parramatta CBDs and have great infrastructure. Homebush in particular is cheap compared to suburbs like Strathfield.