What do people think of Minto?

[MsAli]

Hi all,

What are your thoughts about Minto (NSW) ? A number of years ago it appeared to have been going through a lot of re-gentrification with people of the South Asian descent moving in...

Would it be better to purchase at a "good" (below market) price in Minto as opposed to slightly higher price in say Mount Druitt region? I understand that North West has comparatively better rental yields...

Thanks...

 

[Cherry Pro]

Hi MsAli

In these days when I'm not so sure about guaranteed capital return, I'm swinging more towards higher yields - which ensure cost of holding at 0 or as low as possible.

Good luck !
Amelia

 

[Propertunity]

Over the past 15 years, Mt Druitt has slightly out performed Minto. But if you look at the CG curves, you'll see there is not much in it.

Personally, I like high yields but not at the expense of CG.

 

[knightm]

I downloaded a free suburb report recently, not a surprise but the 2 main downers are lower than state avg for income and significantly higher than avg for crime including assaults and property crime. One plus is the low vacancy rate, but that is true in a lot of places atm i guess.

Edit: tried to attach it but kept getting glitch, its free try here

 

[MsAli]

Thank you Amelia, Alan and Knight. I might then be cancelling my Saturday appointment for now.

I like Mount Druitt too!

 

[JWR]

don't cancel just offer lower as compensation

 

[Dan_p]

You know how Minto got it's name.

A dark man was walking in the area and kicked his toe on a rock and said oh 'Mi Toe'.

 

[Piston Broke]

Campbelltown is much better than Minto & Mt Druitt

 

[billiejoe87]

Campbelltown is much better than Minto & Mt Druitt

That's a pretty big statement. What do you mean by Campbelltown? The suburb itself or the LGA? Campbelltown varies from nice and peaceful areas like Glen Alpine to slightly dodgy ones like Rosemeadow and Leumeah where some notable bad things have happened, but where most people live without too many issues, to suburbs which are arguably worse than anything in Mt Druitt or Minto like Claymore and Airds where taxi drivers and pizza delivery drivers wont even venture into. It is a very diverse area.

 

[virgo]

Ambarvale

Hiya

I have an IP in Ambarvale walking distance to the hospital and the massive Macarthur Square plus the train station and the Uni...i bought it in 2009 and has never been vacant...i have 2 young doctors as tenants..3 bedder rents for 370...hope that helps!

all the best

 

[Dan_p]

Claymore and Airds where taxi drivers and pizza delivery drivers wont even venture into. It is a very diverse area.

Even police cars are heistant to go into claymore. We live in springfarm and our neighbour is a cop and gets scared just driving through there.

 

[CaliPops]

Hi MsAli ... I was looking at C/town to buy and live w view to rent out later (I converted my apartment into an ip) ... I ended up going w Mt Druitt ... Less flannel and less young mums on the street - plus I cyber stalked skater and Nathan on this forum and read everything on the area I could find.

I got a 3 bedroom 580sqm block brick veneer - with only small improvements needed - I am unbelievably happy w it. House was less than $260k ...

There were others that would have been good ips for less, but I wanted to live in first.

Do searches on skater & Nathan if you're interested in Mt D!

Good luck!

 

[MsAli]

Thanks Calipops . We have two places in Mt Druitt between me and my sis...So do have some idea about the suburb itself.

Looking for one these days...Have dropped the idea of Minto for now.

 

[Piston Broke]

That's a pretty big statement. What do you mean by Campbelltown? The suburb itself or the LGA? Campbelltown varies from nice and peaceful areas like Glen Alpine to slightly dodgy ones like Rosemeadow and Leumeah where some notable bad things have happened, but where most people live without too many issues, to suburbs which are arguably worse than anything in Mt Druitt or Minto like Claymore and Airds where taxi drivers and pizza delivery drivers wont even venture into. It is a very diverse area.

I have no intention of doing research for you or anyone else.
I have been investing there (2560) since the late 80's, so I reckon have a pretty good idea of whats there (and many here obviously don't).
But my reason is obvious:
Why would I post here where the opportunities are?
If they are so good, I'll buy them myself or go JV with people I know.
Because I have no interest in earning fees or commissions like the so called "experts" do.
And of course i have full access to RPData.

I do post from time to time in the thread "2560" although most people's DD seems poor at best. And of course i have full access to RPData.
http://www.somersoft.com/forums/showthread.php?t=52638&highlight=2560

 

[billiejoe87]

I have no intention of doing research for you or anyone else.
I have been investing there (2560) since the late 80's, so I reckon have a pretty good idea of whats there (and many here obviously don't).
But my reason is obvious:
Why would I post here where the opportunities are?
If they are so good, I'll buy them myself or go JV with people I know.
Because I have no interest in earning fees or commissions like the so called "experts" do.
And of course i have full access to RPData.

I do post from time to time in the thread "2560" although most people's DD seems poor at best. And of course i have full access to RPData.
http://www.somersoft.com/forums/showthread.php?t=52638&highlight=2560

Getting a bit touchy aren't you. What do you mean you aren't doing research for anyone? Does that mean you are deliberately giving bad information or incorrect information? I don't understand.

I also have access to RPDATA, I am a broker/consumer sales consultant legally able to give financial advice directly for one of the big 4 banks and have worked for other big 4's and large non bank lenders in everything from Applications to settlements so I don't need you to do my research. I'll also say Rpdata in the wrong hands for people that don't understand the way the property market works means nothing. I'll also add that not long ago St George bank had a promotion where they were giving out Rpdata for free to anyone, so it's not exactly a priviledge to get.

I have no desire to argue with you, but to make a statement like Campbelltown is better than Mt Druitt is silly. Both areas encompass many suburbs as you may or may not know, and Claymore (Which is under the Campbelltown banner) is the most socially disadvantaged area in Sydney if not NSW. As an earlier poster said, police won't even go in there. Airds is not far behind either. So if you are going to give people advice like that, make sure you back it up.

 

[Piston Broke]

Getting a bit touchy aren't you.

Lol, just as your getting clueless.
I have around 3000 posts on here, and I am on record for saying that all those services are wrong, that median data is a stupid concept to start, then executed with dodgy data in bad way.
I see much more opportunity for those looking in C'town, but for the buy hold and pray lemmings it wouldn't matter anyway.

So if you are going to give people advice like that, make sure you back it up.

I don't give anyone advice (note the sig), that's what you do for a commission.
All I have is 3k posts here as my record, not some chart or report.
So what do you use to back up your advice?

I have no problem arguing my case because it comes from decades of my own experience in the market, not on a chart or some monthly subscription to a garbage index which makes you feel like your an expert.
They were wrong, are still wrong and research based on it sux.
PS Here's a clue: published statistical data was wrong.

PPS My recollection is that St George were giving away an RPdata report (hotspots), not full subscription access. There are various levels (or packages) of data available to which I have the "Property Professionals" with all options ie all data. Obviously you don't know what that means, but some around here will. And I never look at stats or reports, I use individual data looking at each sale as a separate case and it takes many hours to do. I don't use their "comparables" either.

PPPS here's the link to that report:
http://www.banksa.com.au/assets/bsa/downloads/personal/home-loans/bsa_HotspotsReport_2011.pdf

 

[datto]

All of a sudden I've become interested in Minto. Seems cheap to me. Had a drive down Kent St and Durham and a few other streets. Looks like an area that was developed in the 50s or 60s. Timber, hardiplank and fibro houses mixed in with some brick veneer.

The obligatory houso estate was easy to find. Saw some coloured kids (no racism intended) playing ball in the street. Then a junky was fast pacing it towards the houso area, but he did make a quick sidestep to bum a light for his cigarette off another passerby and then off he went again.

But then to my surprise as I approached a park (down from the PCYC) I saw a lovely but small new estate of McMansions. Some of these houses would have cost half mill to build. What gives? Is the area in the process of transformation? Is this an area for IPs?

 

[beachgurl]

A few years back the worst section of DOH streets were demolished and replaced with a new housing estate. Every3rd house was to become a DOH property. I went to the display homes a few times but as the estate was in its very early stages I was reluctant to buy, not knowing how the highly concentrated DOH houses would affect both values and the safety/comfort level there.

 

[blackenator]

I was looking at minto for my first property just over a year ago and their were house and land packages for about 350k a 4 4 2 setup. Now the market has moved quite a bit and same house and land packages are going for about 500k. Minto has alot Indian people moving into the area because of the affordabilty of the area

 

[ok180]

Coles left Minto mall.

Let me tell you, Coles rarely leaves an area lol.