We have mentioned many times why we believe real estate in the Central Coast and Hunter Valley are better investment options than in Western Sydney. We have done our research and the proof is in the numbers!
We have used Hamlyn Terrace on the Central Coast and Oran Park in Western Sydney for our comparison. We have chosen these 2 suburbs as they are very popular suburbs for owner occupiers and tenants in their respective regions, they are on par with each other on the population mix, and are both undergoing major development in both residential and commercial spaces.
So how do they stack up??
You can see in the image the side-by-side comparison where Hamlyn Terrace comes out on top - cheaper house prices, better growth, better ROI and closer to beaches and other lifestyle opportunities.
The only 2 aspects where Hamlyn Terrace did not come up trumps were:
- Average Rental Income. Hamlyn Terrace averages $50 per week less in rental income, but in comparison to what you pay for a home compared to Oran Park you are better off. Pay $520k and receive $450pw rent or pay $660k and receive $540pw rent? Compare the mortgage repayment on each and you will see that Hamlyn Terrace is really the winner in this category too.
- Time to Sydney CBD. Google estimated the drive time from each suburb to the CBD to give us the times below. These times must be at 2am with no traffic! While I know that driving south down the M1 is not ideal, driving (parking?) on the M5 is sometimes worse.
With these being the only 2 downsides to investing on the Central Coast - I know where I'd put my money!
All sources used for this information comparison are available on request.