Is Harris Park/Parramatta/Nth Parramatta good to invest in a unit?

Have noticed lots of units for lease in these areas and am concerned that supply exceeds demand.
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Carltonb 2yrs+
Harris Park is an exceptional location for investment, majority of the properties are leased and the suburb in general has lots of exposure to families looking to rent.
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eddy_chan 2yrs+
I'm not sure about Harris Park but within Parramatta I'd stick to places north of the river. River precinct includes Elizabeth Street, Thomas Street and all the surrounding streets there. I'd also stick to North of Victoria road. The reasoning is as follows:
- closer to UWS for students
- more family oriented with parks, parramatta pool and schools
- cleaner, better, slightly more upmarket 'vibe' and environment
- has free bus servicing that area and is about a 15 min walk to Parramatta station

If you're going to invest, you can get about $370/week on a 2BR 30-40 year old unit in good clean condition. The key is to have a unit in good condition in a smaller block in the area I described above, it will get snapped up pretty quickly. If it's a ghetto large block in bad condition near Westfields, Great Western Highway or very close to the station on Harris St then it might be tough to lease...

To make a decent investment you'd want to buy for about $350k or under and leave another $6k for cosmetic improvements like new paint and new flooring.
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nikkin2 Oct 10, 2017
The location is good and getting better all the time. It is a risk with all the building going on for oversupply, but the infrastructure is growing too, so hopefully the value from the infrastructure will outweigh the decrease from the oversupply. It is still affordable and lots of migrants move here to rent before buying so plenty of tenants.
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Millzdee 2yrs+
There are more property for lease in that whole area, then is for sale.
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