GO WEST, IT’S BEST
Property: Buyers and investors win
WHETHER searching for a home or an investment property in Sydney, real estate agents agree now is a great time to look west.
Raine and Horne St Marys sales manager Peter Diamantidis said while prices had dropped everywhere, there was no doubt $500,000 went a lot further in western Sydney than other areas.
Ben Price Estate Agents owner and sales manager Ben Price said $450,000 could get a nicely renovated brick house in Mt Druitt compared with just a block of land at nearby Ropes Crossing or a one-bedroom unit in Parramatta.
WHEN it comes to getting more bang for your buck in Sydney, real estate agents agree “west is best”.
Raine and Horne St Marys sales manager Peter Diamantidis said house prices across the board had dropped, but Western Sydney still offered the greatest return for your dollar.
“The market is very affordable in Western Sydney compared to other areas of Sydney; the price point has really dropped off from the middle of last year, when it peaked,” Mr Diamantidis said.
“They are still higher than what they were but certainly more affordable than other areas.
“It is easy to find a house under $500,0000 in Mt Druitt and St Marys and even into Werrington – unlike other areas.”
Mr Diamantidis said he had noticed a real shift in the market.
“At the moment it is turning from a seller’s market to a buyer’s market. I wouldn’t say there is an oversupply but there is plenty of choice under the $500,000 mark,” he said.
Mr Diamantidis said the most affordable areas included Tregear, Lethbridge Park, Whalan, Emerton and North St Marys.
“For $450,000 you can get a three-bedroom, brick veneer or fibro home with a lockup garage and even two bathrooms, and over that you can get a lot more,” he said.
Highlighting a renovated three-bedroom home at 431 Luxford Rd, Lethbridge Park, Mr Diamantidis said it was a perfect example of a “great buy” under $450,000.
“It is currently listed for $435,000,” he said.
Mr Diamantidis said current works to key infrastructure in preparation to service the planned airport at Badgerys Creek and the jobs it promised to create added to the area’s appeal.
Mt Druitt real estate agent Ben Price said that market had really opened up.
“I wouldn’t say there have been any great, dramatic drops but I still think areas like Mt Druitt are more affordable,” Mr Price said.
“For $500,000 and even less in Mt Druitt you can get a brick home on a good-sized block, while you’d probably only find a one-bedroom apartment in areas like Parramatta for that same price.”
He said with its good schools, plenty of shops and fast trains into the city, the area was a good investment.
Raine and Horne St Marys sales manager Peter Diamantidis talks up the value of a Lethbridge Park property. Picture: Phil Rogers VALUE FOR DOLLARS West delivers
No.24No. 24 Capparis Circuit, Bidwill – renovated bathroom, kitchen.
No. 4 Ferramin Ave, Whalan – three bedrooms, updated ed bathroom.
No. 431 Luxford Rd, Lethbridge Park – three bedrooms, , updated kitchen.
No. 39 Fleetwood St, Shalvey – three bedrooms, built-ins, ins, garage, carport.