19 May 2010

Ingleburn Invasion by Property Investors

INVESTORS are leading the charge in the Sydney property market and have been making a lot of inquiries at Ingleburn Gardens Estate at the junction of the M5 and M7.

They are impressed by the solid returns yielded by this lifestyle development.

Liverpool resident and bricklayer Michael Curtis recently bought a four-bedroom house with a granny flat for $470,000 and is renting it for $700 a week – which is a 7.7 per cent return.

“I spoke to the accountant, and the numbers stacked up,” Mr Curtis said.

“The state government’s incentive to pay half of the stamp duty and high depreciation benefits available on the new property were deal clinchers for me.”

Mr Curtis knows the area like the back of his hand.

“I have purchased several investment properties in the Macarthur region and all have been solid investment choices,” he said. “The estate is also new.”

“It offers ease of access to major arterials and is only a few minutes away from Casula Mall, which has many specialty stores.”

Monarch Investments Group CEO Peter lcklow stresses that the property market in the Macarthur area is showing positive signs.

“Prices are on the increase, rents are moving in an upward direction and purchasers are realising that affordable land is scarce,” he said.

Mr Icklow, who is also the developer of lngleburn Gardens Estate, said the Monarch group had noticed an increase in inquiry from the investor market.

He said 75 percent of inquiries were coming from Macarthur and the rest from the broader Sydney community.

He described as “a hive of activity” the continuing construction, including that of a main arterial road through the development.

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