Tuesday, July 23, 2013
Buy Next Investment Property Along North West Rail Link?
Although the reality of buying another investment property(IP) isn't anywhere on the immediate horizon, these sort of plans need a long time to think about before implementation. Especially since property prices in Sydney are so crazy.
There are so many promising areas to buy properties for rental income. I've written about passive income from my investment property previously and most recently about the most recent house acquisition to live in.
Having visited Castle Hill Towers recently, I saw the construction of the North West Rail Link being built. This new train line will connect Nor West Business Park with the city and connect the Hills district suburbs that are densely populated(they currently only have bus services available) to finally acquire public rail services.
Suburbs that are likely to rise in prices due to the North West Rail Link stations being built: Cudgegong Road, Rouse Hill, Kellyville, Bella Vista, Norwest, Showground, Castle Hill and Cherrybrook. The new train line will hook up via Epping to go to Macquarie University, Macquarie Park, North Ryde and Chatswood, possibly terminating at the city.
When the Epping to Chatswood rail link was being built, I KNEW that property prices would boom DURING the construction and AFTER the rail line was finally completed. Never in my wildest imagination could I have known how quickly property prices APPRECIATED when the rail line was finally complete. Pretty much almost all the apartments within 10-15 minutes walking distance went up in value by approximately $100k to $150k within the year.
You could work and save year after year by scrimping and eating peanut butter sandwiches, not going on holidays and living miserly OR you could make wise investment moves and simply capture investment gains by investing wisely.
Other friends of ours are looking at buying IPs and there are so many potential suburbs. Any property within 15km proximity to the city will go up in value as our population grows and any suburbs that has large scale, public/social infrastructures being built will go up in value.
I'm still tossing over the idea about whether it would be a better move to buy close to the new railway stations being built on the new rail line or whether to stick to the tried and tested blue chip suburbs that are within 5km of Sydney CBD and are close to either water, cafes, schools or transport etc.
Historically, either choices would be wise but which would be the wisest move? Wouldn't we all like to see the future?