NSW Box hill - Stockland Gables Final Release

Is it still worth investing in outer growth suburbs like Box hill (NSW) for 10 year old horizon for CG?

450 sq. m. site is $840K. Total price after construction will be ~$1.5 mil.

Would you invest $1.5mil in a new property in Box Hill or $2.2 mil in an old property in established suburb like Hornsby / Normanhust / South Turramurra. Aim is maximum CG over next 10-15 years period.

 

Are you sure?? It’s literally 45 kilometres from CBD and up to 2 hours one way in public transport?

 

See attached

 

Yes prices have shot up this year. They’re getting $2,200 to $2700 per square metre for the small blocks. I haven’t put my 53 on the market yet but get 2 calls a day from people knocking on the door wanting to have my number to be on the list.
1. That price is cheap we would easily get $900k plus for that.
2. Is it a good investment? IT was! But who can predict the future?
3. Is it a good place to live. Yes a PPOR a safe nice suburb. I lived there nearly 20 years.
The truth is nobody can predict the future. If it’s a PPOR buy where you love. If it’s an investment who knows, I’m selling all 53 blocks of my first stage and will in 2023 consider what to do with the second stage. But looking at today’s prices I’d say that block is cheap but the market is fully priced.

 

You got 53 blocks in Box Hill !! Did you brought huge land parcel when it was Zoned RU4 ?

 

I owned 135 acres zoned non urban in the Hills in 2011 and gave 1/2 away in my 2013 divorce.
I have the last 18 acres left now. 5acres goes to Council for SP2 improvements, 5 doesn’t have subdivision approval
5.5 acres will be 53 blocks next to Box hill shopping centre. These will have houses built on them as my business partner is a builder. I’m the land owner.
If these go well we will release our last stage in Alan Street in two years.

 

I wish i was Mrs Cart Tart

 

Current Mrs Car tart and I have been happily married for over two years, and she is a very hard working woman, with no requirements for anything expensive or outrageous. She is a self made millionaire. Other than my car collection, the two of us show no signs of wealth and live in the worst house in the best street in Castle Hill. 3 bedrooms 2 bathrooms 16 garages. We (used) to have regular overseas holidays and fly business class.
So we live a fairly normal life with a couple of privileges.
You would be better off being ex Mrs car tart. She married someone 15 years her junior and has never needed to work again.

 

I'd certainly buy 450sqm for $840k if it's my PPOR. Great value compared to anything else around there, recent Akuna Vista release saw 375sqm land getting sold for $790k and 500sqm land for $1m.

 

I am looking for investment. 10 yrs hold for CG / Depreciation. Is it worth investment? or better off spending $2 mil Hornsby region or $1.2 in Brissy

 

I mean, I can't tell you - but I'd say look at recent sales in Box Hill and you'd see 30sq house on a 450sqm land goes for around 1.5-1.8m depending on the build quality etc. So I'd think you'd gain 2-300k immediately after building.

 

How’s The Gables in 2023? Still a good place to invest long term?

 

Hi All,

We are looking at Land registering in June for the The Gables. Got a killer of a deal I think at 365 Sqm at 670k which is $1800 sqm, with a Clarendon build on it. 278sqm house 5 bed 3bath 2 car at 1.31m.

Guessing for a purchase this is cheap beyond compare. From A CG stand point I'm thinking we will see some big gains, due to normally PerSqm is close to $2200,$2500 normally in the area.

Thoughts?

 

Not a bad deal, especially as you’re getting a brand new home. Will this be your PPOR?? As an investment, don’t sell, you should keep this long term. The Gables will be the next Bella Vista Waters when completed (years from now). We were lucky, our land was $460,000, 390 m2, and the house $500,000. We got ripped on the build but have made decent money in the three years we’ve been here. We’re looking at renting this place out and buying something small on the coast in the next couple of years. Good luck, it’s a great area although shops are a way off.

 

I would say Box Hill. The fundamentals for Box Hill is strong. Lots of young professionals with young families are living in there and attracting lots more. A lot more upside if you ask me.

 

Why does it have better growth prospects than more established suburbs though?

 

Buyers demand increases prices. Over the last ten years I have seen a strong shift in buyers building new homes/ buying new/newer homes. This trend will continue and these are young families looking for their permanent place of residence. Not worried of future values etc. These types of buyers drive prices up and for them it’s an emotional decision.
If you are searching for homes and go to Facebook/ instagram you’ll see brand new homes open plan livings etc in your feed (thanks to advertising bots). The algorithms are convincing more people to buy new/newer properties. As an investor we can’t ignore the power of advertising and the shift in buyers demands.
I was in the camp of buying big land and old houses. But I have now balanced my portfolio with new & old homes. Fyi in Sydney many newer home values have surpassed the early 2022 high while many older homes are still recovering.
This is just my view of the market and how I am positioned in the market.

 

Because it’s still cheaper than an established suburb like Baulkham Hills. You’re paying less, although there is less here. Great parks, Santa Sophia School, a new Public School. The downside, no shops, you have to travel to the new Carmel Village, oh, and the roads, they’re ****. Essentially rural roads that every man and his dog is using to commute.

 

looks like the town enter for the shops etc have started clearing so at least a year till that's in and the childcare centre was also approved and should be starting soon.