Is anyone familiar with the Western Sydney market? I've heard a few reports that it's going to do well, but would like a bit of local knowledge on which suburbs to take a look at. I know it's got a bit of a reputation (recent shootings, etc.) so wondered which suburbs are considered safer bets for the property market...

From Positive Real Estate-

Sydney
Sydney rental conditions are remaining extremely tight. In Western Sydney, the average rental return is around 6%, and as interest rates head to 6%, the phrase will be coined, “It's cheaper to own a piece of real estate, than it is to rent”. We're going to see this phenomenon hit the Western Sydney marketplace. For me it's a telltale sign, that whenever this parity situation occurs, the masses buy real estate.

There is no greater populace in Australia than Western Sydney. In fact, most people come to Sydney and think of the lovely beaches and harbour, which is only home to around 600,000 people.

Outside of that 10km zone you'll find 4.5 million people, and they live in Western Sydney. When they're given the opportunity to invest in the marketplace at the same rate they rent, they will take it, and this is where we'll see the final surge of the Sydney marketplace.

I would imagine by midway 2013 we won't be transacting in Sydney, as the final growth will have hit the marketplace, with the market potentially having a 20% year. (Will you be kicking yourself in two years wishing you had bought in this market?).

Prices are low, rents high so investors won't be jumping ship anytime soon.

Prices are already on the rise. HC is still releasing stock but the buzz means investors are now paying more.

IMO the only good bargains will be the damaged ones. People are overpaying for the tidy ones as they are easy for new investors. Simple paint, carpet and rent. Anyone can do that.

I have had a few clients purchase in Wentworthville/Pendle Hill areas (I also purchase a unit). Demand is growing at a rapid pace due to the Indian temple built there. Transportation is great, 5 minutes to Parramatta, 30 minutes to the City, Rental yield is great but more importantly the demand is there. Capital growth is also very healthly. I would strongly suggest looking at houses in the area. Holroyd council is a very easy council to deal with and thus the potential to build duplexes and get DA's in general is much easier than other councils. I have had 2 clients that were able to get subdivisions on their properties in the past 6 months.

Shahin Afarin
Property Finance Consultant
M: 0420 987 683 | F: 02 9151 4511 |
Level 23, 100 Miller St, North Sydney 2060 | www.elitepropertyfinance.com.au

You've missed the boat on Western Sydney. Things are going WAY over priced. At auction on Monday night a house that needed a fair bit of reno work went for $342K. End value would be $350-360K. Another one went for $241- after reno it would be worth $250K. CRAZY!!!

Once it's in the newspapers and magazines everyone rushes in. It's a self fulfilling prophecies. Glad I've got mine already.