Your opinions on Blacktown and surrounds

[my03]

Hey guys, Blacktown has exepreinced some good growth over the last few years, Just wondering if you could still see potential in the area?

Seems like you can still get houses in the Blacktown, Marayong, wentworthville, toongabbie suburbs for circa 600k on large blocks with subdivision potential. Also potential for dual ocs.

Just wondering if you guys still see potneial growth in the future of these areas and what are the key drivers?

I seems like properties close to station, close to shopping and also close to employment (parramatta CBD) are still avaliable at reasonable prices compared with rest of sydney.

I know everyone says you got to be careful of housing commission properties, just wondering how to identify these properties?

Thanks guys

 

[beachgurl]

Re housing commission properties - ask the agents in the area to identify HC pockets. Take a drive and look at the style of housing. The DOH weren't particularly creative with their facades. The cookie cutter exists everywhere. Go onto google maps and take a look at the streets you are interested in. If you see this style of housing you can assume that there is still some housing commission in that street, if not all.

If you know anyone with RP Data access they can identify the current owner of a property (Housing NSW) is one entity within the DOH that owns property in western Sydney.

 

[gcb160]

Or use this website: http://atlas.id.com.au/blacktown
It uses the census data so it is a little bit old but it gives you an idea of the demographics of different areas. Blacktown Council is very affordable compared to the rest of Sydney so I think it will continue to experience growth and as more families are pushed out of other areas, I imagine it will have much less social problems.

 

[RetireRich101]

Blacktown council isn't sub-dividable friendly. Not many R3 zoning either, even under the latest draft zoning yet to be gazette, infact they scaled back some R3 zoning after public feedback.
You need to be over 900m2 or 600m2 on a corner block.
You can't build duplex, community titles etc. just only dual occ on 1 title

 

[RetireRich101]

for housing commission properties, you can access to someone that has rpdata prof. you can search based on the owner, in this case housing commission... You can generate it as xls or map it out. I like the map it out similar to google map to give it where all HC are scattered.

 

[monalisa]

wentworthville, toongabbie suburbs for circa 600k on large blocks with subdivision potential. Also potential for dual ocs.

Seriously???

In Toongabbie, ones which are 600K would be pretty small. ~550 sqm

Please let me know if you find a large block in Wentworthville for $600K - I am keen to buy. Should have subdivision potential.

 

[mumbai]

Seriously???

In Toongabbie, ones which are 600K will be pretty small. ~550 sqm

And, you will be lucky to get it

 

[monalisa]

And, you will be lucky to get it

Most likely on Holroyd council area.

 

[write2abdul]

Maybe you are looking at the median prices in Realestate and domain

Its difficult to get good house+ land in those suburbs. I have been struggling. Let me know if you come across any

Seriously???

In Toongabbie, ones which are 600K would be pretty small. ~550 sqm

Please let me know if you find a large block in Wentworthville for $600K - I am keen to buy. Should have subdivision potential.

 

[my03]

Hey guys, since the post I've been looking further south, mout druitt, hebersham and those areas. Seems ike there's been some solid growth in those areas.

What do you think about buying houses in those areas and what are some principles to follow when looking to ensure a good deal?

I hear alot of people talking that they buy properties under market value, does that mean the agent approaches them to purchase prior to going on the market or does that simply mean they negotiated a good deal?

Do you guys always look for properties with potential to value add or is it better to get something ready to go and already freshened up?

In those areas, obviously public housing you got to look out for, is there anything else to consider when looking for properties with potential for growth in those areas?

 

[monalisa]

In terms of what to look for - start with reading people's interviews. There is a heap of information on this forum.

Also - do calculations on what each property you are considering will cost you to firstly to determine whether you are able to sustain it.

Worthwhile doing a search on 2770 and Mount Druitt. The areas have seen good growth over the last 18 months. How long it will go on for? Who knows.

About two years ago - strata properties were yielding 7%+ returns. Now this return is about 5%.

 

[travelbug]

Hi, if looking at Mt Druitt you need to search this forum and also go out there to REALLY know the difference in areas and streets.

A house in on street in the same suburb may be worth condiderably less than one in a different street. There is LOTS of HC but some areas are better than others. I have a few ex HC places which have had nice growth and great tenants. We did a reno on all and they are all CF+ so very happy with those purchases. I wouldn't be buying in this market though. I don't like paying full price for anything.

It depnds what your strategy is and what you expect to get from your purchase though.

As soon as you see something on RE.com go to google maps and do a "walk" down the street. You will see what I mean.
If you are buying something that has been renovated you are paying for the owners renovation. It depends whether you have the capability to do a reno as to your choice.

In this market you'd be hard pressed to buy under market. If there are any, people with contacts grab them.

As Monalisa said there are many on this forum who have done well out of Mt Druitt and there are many threads on Mt Druitt. Spend som time reading everything. Use the search below- it shows all threads on here for Mt Druitt. You can also search 2770.

https://www.google.com.au/search?q=...hannel=sb&gfe_rd=cr&ei=gSwWVMK3IqWN8QfmuIGQAg

 

[my03]

Thanks for the tips monalisa and travel bug. Yes you guys are right, the market in that area seems very hot, every second ad on the websites are under contract and been on the market for a handful of days!

I'm not asking for investment advice but in a market as hot as this, yeah there are no bargins, but surely you could still get in and enjoy some growth?

Seems like these areas have enjoyed alot of growth over the last few years when is it going to end?

 

[LeoT]

Hopefully it doesn't end soon. I bought a 3 bed house is Quakers Hill 2 years ago for $360,000 on a 700 block. If I knew it was going to be THIS good I would have bought 2!

To be honest, Brisbane is the place to invest now. Forget Sydney IMHO. A 3 bed house 10-12 km from the cbd with at least 600 sqm for around 550-600k.


Leo