NSW Bella Vista/Kellyville, Peony Place

Considering a ground floor unit in a development on Balmoral Rd, Kellyville as PPOR and future rental property. I see it as a good location near the new metro, school and other amenities. However, concerned about the following:

• Smaller builder is from China and this is their only project in Australia though their quality is far better than similar units we've seen in the region
• Are the units (2BR) overpriced for the area or is it justified for the quality and location ($700k+ - $900k+)?
• Planned development, retail and residential, around BV station but will the unit retain it's value or decrease due to oversupply?
• Is it better to be looking for a townhouse or landed property? (budget $750k)

 

Budget is $750k. Seen other units of a similar nature around Kellyville and Rouse Hill.

 

• Is it better to be looking for a townhouse or landed property? (budget $750k)

Yes, yes and yes. You are welcome, thank me later.

 

What does your due diligence tell you?

 

My due diligence is telling me that it is a good buy in terms of quality and location by comparison to other similar units in the area. Price ranges are also comparatively the same across the board.

 

Go to a supermarket. Find that Pink Ladys are cheaper and tastier than Royal Galas.

Decide that Pink Ladys are the best fruit to buy.

See the problem?

 

No I don't. Can you be less cryptic?
I'm only stating what I've seen and I didn't say the unit I'm looking at is cheaper than the rest.

 

You are just saying it compares well with similar properties in the area. How do you know whether new units in kellyville are good investments at all?

You need to compare it to something different. How does this unit compare to a 2 bed brick 6-pack thats 30 years old? Or a house on 600sqm land in western sydney?

 

You are basically asking people you don't know to decide if this is a good buy for you. You need to do more work yourself.

 

What work? If I knew what more there is to find out I wouldn't be asking for help.

 

Are you saying an established townhouse in a mainly residential area not particularly close to shops, transport or schools is still better than a new apartment that is near a train station, school and shops assuming they're in the same area?

 

Let try a 5 minute search:

9/37-39 Bland Street, Ashfield NSW 2131 | Domain

34 Collins Street, Seven Hills NSW 2147 | Domain

Both around 750k. Why do you think the Kellyville unit is better than these?

You seem to be asking 'is this a good 2 bedroom to buy in Kellyville'. Why are you only looking at Kellyville? Even if you really like the suburb (to the exclusion of everywhere else) or you have family in the area etc, are you thinking about other property types or areas?

If you are just thinking 'what else can I get for 750k'? It makes sense to look at other areas.

 

There are TOWERS of these new build apartmnets going up from Cherrybrook all the way along the line. Just look at castle Hill...Two more towers are just starting taking it to 6 all beside each other. And there are loads more coming. There are dozens of approved towers along Old Windsor Rd that havent event started to go up. (The site where KFC, HJs and Lonestar are all the way back. And both sides of the road too). The trap for buyer is they develop thye houses and townhouses and leave big areas vacant. They come in and throw up towers as neighbours. All around balmoral its ready for 10-15 of these towers. The oversupply in this area will continue for years and years and seemingly could take a decade or two. The chances of a demand driven rise in prices is highly unlikely. Supply overkill will supress value

Property developer Dyldam buys iconic Parklea Markets

Now Dyldam has finished the Baulkham Hills eyesore at Seven Hills Rd they may soon demo the Bull and Bush on the other corner and throw up another mass of towers. they bought the hotel a few years ago. Dyldam arent in the hotel industry.

 

I should have put the stipulation that it needs to be around this area, 2155, for personal reasons. But then again, doesn't it make the exercise easier rather asking a much broader question? I am okay with other property types.

Thanks for giving examples. Considering the Seven Hills property you suggested, it is a lot older place and only one bathroom. Plus in regards to Seven Hills vs Kellyville/Rouse Hill, I feel that there is a perception that Seven Hills is 'Blacktown' and the other side of Windsor Rd newer and modern with access to Norwest and the Metro. Doesn't this affect the potential value?

Taking into account they are both close to a train station, around the same price, you're saying the older Seven Hills house is a more attractive future rental prospect than the new Kellyville apartment?

 

Thanks for the reponse Paul@PFI, this was more what I was after. I'm aware that Dyldam owns Parklea Markets and the adjoining fast food outlets. Have they approved this? I thought there's only been talk.

On top of this, the government has set aside the space around Bella Vista station. I've looked into it and they are planning apartment blocks and some retail. It was my concern that this oversupply would affect value as you said.

If along this Metro train line, is it best to have a property that is unique?

 

did you notice the 714sqm of land that seven hills house is sitting on? What do you think someone will build on this in 20 years? What will that kellyville unit be rebuilt into in 20 years?

with your budget and 2155 only, imho only, you dont have any good investment options. The oversupply is going to kill the rent, and keep prices down. One options is rent in 2155 and buy somewhere else for investment.

But, thats just one anonymous internet opinion.

 

Rentvesting? I guess that is a good idea.

Internet opinion is what I'm here for. I know there are people out there that know more. Thanks for your input Trainee.

 

https://www.smh.com.au/national/nsw...-maryam-her-life-savings-20210319-p57cb5.html

 

YES!