There is a segment on Woodridge in the latest SPI mag which i find interesting as i have been looking at purchasing an IP there the last couple of months, but ultimately ended up purchasing in Springwood instead. Sentiments from experts are divided about this suburb due in part to the stigma, very high unemployment (14%), very high rental rate (50%) = very high investor presence, and very low household income ($800 pw), and even though the gross rental yield is still considered high (6-7%), they are falling due to increased competition from investors. Vacancy rates remain very low at <1% in August. Prices bottomed in 2012 and has been on the rise (>11%) in the last 2 years so some investors would have seen good gains if they purchased in 2013. Herron Todd White seems to think that markets like this are more volatile and higher risk and i can see why, but that doesn't discount opportunities as everyone's strategy and risk profile is different.
Just wondering if people here are still looking at purchasing in Woodridge and what is your strategy? Some investors have also drawn comparisons to Blacktown and Mt Druitt in NSW, but is it fair?
Just wondering if people here are still looking at purchasing in Woodridge and what is your strategy? Some investors have also drawn comparisons to Blacktown and Mt Druitt in NSW, but is it fair?