Location Recommendation to Purchase a House or Apartment in Sydney

Countryboyperth on 16/10/2021 - 13:57

Hi all,

I am thinking of purchasing a house or apartment in Sydney for a long term investment purpose. The key requirements are that property should be close to a train station (say 30 min train ride distance one way to CBD) and in a good school intake area. I have not set the budget yet but prefer to spend as minimum as market is willing to accept. The property could be near yet to be built train station as long as train station will be built in the next few years. As I am new to Sydney, I request my fellow Ozbargainers to recommend the locations. Any useful tips are also welcome.

Thanks in advance.

Home & Garden

Comments

  • hmac on 16/10/2021 - 14:02

    Mt Druitt

  • Countryboyperth on 16/10/2021 - 14:06

    Thanks. Is it not too far to CBD? Google says it will take over 70 min to get to CBD.

    • bobbified on 16/10/2021 - 14:11

      Might get the odd bonus stabbing in Mt Druitt too!

      But that's how it is - if you want to spend less, then you've got to go further out.

  • SF3 on 16/10/2021 - 15:15

    You are new to Sydney…

    Good location + convenient (eg transportation ) + not too far (eg 30min) from CBD = You don’t get much for your money.

    Either far away.

    Or a tiny place.

    Suggest to goto sites like realestate… punch in your parameters to see what fits your budget… short list some areas and see what the community may say.

    Tip, knowing your budget really helps.

  • Bafranz on 16/10/2021 - 15:18
    +1

    Townhouse in Merrylands, 530k

    • Euphemistic on 17/10/2021 - 14:43

      It’s only worth $510k.

  • JDMcarfan on 16/10/2021 - 15:19

    Don't mean to be the bearer of bad news, but "spend as minimum as market is willing to accept and <30min train ride (+good school catchment)" doesn't simply exist for houses unless your planning to spend well over $1m, and at that point the rental yields would make it a poor choice anyways (definitely an OO market there).
    OFC this is different for units, but I'm not too familiar with that market and you'd generally be sacrificing Capital Gains for yield by buying that type of property.

    If you're looking at sub $1m then the closest from a Western Sydney perspective is Toongabbie/Seven Hills (which is about 50-60mins by train during peak hour) but you'll likely have to work out further west for better deals. In saying that, the St Marys area has rapidly increased in value over the last year or two, and has pretty much priced-in (in 2021 terms) the expected appreciation given the upcoming airport/metro line, so that's a no-go unless you're willing to spend extra.

    Whilst previously a complete no-go zone (known colloquially as 'Struggle Street' in Sydney), Mt. Druitt & surrounds does seem to be one of the better areas to invest, esp from a pricing/infrastructure perspective, as the St Marys metro is a station away and the Hospital and Town centre are getting major redevelopments.

  • SmiTTy on 16/10/2021 - 15:23

    u can also look at areas where metro will be built… Instead of just train stations. Just a suggestion

  • Countryboyperth on 16/10/2021 - 15:31

    Thanks to all who have taken time to provide input.

  • pantsparty on 16/10/2021 - 17:15

    What is your budget? How much are you wanting to spend?

  • gimli on 16/10/2021 - 17:16

    Burwood

    • JDMcarfan on 16/10/2021 - 21:06

      same thing here too expensive. was looking at apt in Burwood before I bought my place a few months back. And to comply with the FHBG the new 800k apartment I saw (2 edder) was TINY. The living room was literally 1.8m x 2.4m and the space on the wall for the TV was only big enough for something like a 42" TV.
      Demand there, along with the grants has pushed everything north of 800k besides shoeboxes.
      In that respect, a decent new 2-bed in Westmead was like 760k when I last checked but your commute will be like 35-40 min

  • Countryboyperth on 16/10/2021 - 17:19

    I will look at 2 scenarios - $600k say 45 min train/metro ride, $800k say 30 min train/metro ride. Are these numbers reasonable for a house on free hold land? If not, can I get large apartment for these prices? If yes, what areas you recommend?

    • gimli on 16/10/2021 - 18:15

      Median house price in Penrith (50min train to city) is 750K.

      So you are going to be looking at apartments.
      I would look at suburbs around Westmead which is bit over 30min from CBD by train.
      Check out realeastate.com.au for properties in suburbs around westmead. If you have questions about specific suburbs in the area feel free to post.

      • JDMcarfan on 16/10/2021 - 20:59

        Median house price in Westmead is 1,591,000 so nearly double. I live in the same postcode and would definitely say that's my fav suburb of the bunch.
        Unfortunately everyone else thinks so too and with the infrastructure boom its virtually unaffordable. Having a 20min metro to the city would be so nice though!

        My friend who lives there paid like 880k in 2011 so it hasn't been that low for a solid decade at the minimum.

  • upended on 16/10/2021 - 21:35

    Here is a list of suburbs where there is an oversupply of apartments and prices tipped to fall (see https://www.news.com.au/finance/real-estate/buying/suburbs-i…). You haven't really mentioned how much you want to spend, but my recommendation is to invest in a house if possible. Also, there is a risk that the apartment where you buy is defective. It may feel like that is a remote possibility, but this sort of news is now becoming more common. I really feel bad for those who have purchased units in defective buildings and now have nowhere to go.

  • deeevan on 16/10/2021 - 22:25

    What about this townhouse? 40 min train to city and within $600k budget
    https://www.ozbargain.com.au/node/657321

  • Dejaar on 17/10/2021 - 10:29

    Anything thirty mi utes by train to cbd is already estabkished. Look ariund Carlton..25 min to central…but $1.3mill house. Apartment $650.

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