NSW Buying a house in 'The Ponds' -- IP + PPOR

The train station and the shiny houses was the fuel for the high prices in Ponds. Not anymore and the prices are almost stagnated.

QH why that suburb was still undervalued? - Quakers hill was overlooked due to the new developments in Ponds/Schofields. People wanted shiny houses but the size of the blocks in Ponds/Schofields became smaller and smaller with high prices. Now if you need a 500m block of land only in Ponds/Schofields, you would need 750K atleast plus you add 400-450k for the build plus the wait time

Thats where Quakers hill picked up. People realized that you can get 500+ block and not so shiny houses for around 750 - 850. Thats the fuel for Quakers hill in the last one year. Not many houses stay in the market beyond 2 weeks in Quakers hill now and if you go to the open home you would realize the competition..

There's still value in Quakers hill where you get good blocks and they are many with granny flat potential. There's infrastructure in place already and the prices would go up in accordance with the neighboring suburbs. Theres still huge price difference for the growth

 

Also, you can check free suburb report which realestate.com.au provides.

Example for Quakers hill - www.realestate.com.au/neighbourhoods/quakers%20hill-2763-nsw

You can explore other suburbs too and when you compare the average visits per property for Quakers hill/Schofields/The Ponds. Clearly from those reports, currently, Quakers hill properties are in high demand when compared to the neighboring suburbs due to the value offered of big blocks and all the facilities already there.

I'm also finding the same pattern when I go to the open homes. 4 weeks I been looking for a property in the 775-875k range and they go in first week . But I see the value and they are many others in the same boat which is creating lot of competition

 

If you are searching QH, give preference to quiet and leafy pockets adjacent to Walker Street / Burdekin Road. You will be in walkable distance to: Hambledon PS, Aldi, Scholfields Station & Woolworths, and a diect bus route (T72) to Rouse Hill Town Centre.

 

Oh I think you misunderstood me,
QH would definitely be my preference over the ponds any day. Existing 80s-90s stock due for reno, land content, relatively accessible by FHB and decent infrastructure is a good chunk of my current buying criteria. (Not that I'm buying at the moment)

 

One thing I have observed is that of many PC threads about the outer NW area, be it Kellyville, Rouse Hill, The Ponds, Box Hill, Riverstone, Schofields or Marsden Park, most have ended up discussing QH and how it is of better value compared to those neighbouring suburbs. And there has never been a hype QH thread.

 

Sshhh lets keep the hype down until I buy one

On a serious note, Quakers hill has been a silent performer and overlooked by many buyers. Its good for buyers like me looking to buy in a family oriented suburb with great infrastructure . But its definitely picked up and I don't want to miss the boat before prices reach the 1M mark

 

Ya to add to the list, if you buys anywhere near Farnham road shops or near to Aldi or near the Barnier/Mary primary schools. You would be good for the long run of capital growth.

That said now the older side of quakers hill has picked up especially the streets near the station and the shops. With the units/townhouses coming on the older side, most home owners are selling to builders for a good buck

 

Good luck! I can see prices more or less plateau at the moment.

 

Any chances of them going downward you reckon?

 

Ya hope so but from my experience in the open homes and speaking to local agents, there is less stock currently in QH in especially in the areas I pointed out. Less stock is creating more demand and pushing prices.

Also all these home owners are aware of the house prices in the neighbouring suburbs and they want to make the most of it

 

Well, I consider myself a rather amateur home buyer compared to most PC members here so won't dare make any bold prediction. What I would say though, Quakers Hill is a safe suburb going long term. In short term, the prices may drop by some 3-5%, flatten out or even continue to rise at a slower pace

 

Ya dont worry about the drop. I keep hearing that and waited 8 months. I would have saved 100k if I bought it a year back. If the drop is happening its throughout Sydney. Yes if you think long term there is little risk when compared to other neighboring new suburbs which are considered more risky

 

There is a 4b house ~650sqm landsize close to station ( Kennington Ave) on market ( currently on rent at $550 pw), I am wondering as a investors is this good option ? Isn't rent low?

 

For investors, the yields in Sydney are not too great . That said, QH and surrounding suburbs the majority of the buyers are PPORs which is good for long term growth

 

Yeah, but we looking to invest ~850k in Sydney only, so thinking about QH. Also thinking of Land only (600k 450sqm) in Box Hills.

 

Hmm 600K + stamp duty+ another 450k for the build + 12 to 18 months hold cost . I did the math for my PPOR and no brainer I choose Quakers hill

 

Steffs,

How did the inspections go for you. I made an offer on one of the property we liked, fingers crossed

 

Wow, good luck, hopefully you will get it
Naah, untill now we were just looking after HnL so didn't get pre loan approved. Will do soon. We saw a 4b house in QH, liked it,182 Farnham Road. Agent was saying any offers over 870k will be seriously considered. I'm interested to see its sale price: )

 

Ah ok. I did see that house too. The talk in the open home was that they were offers around 900
I think it will sell around that mark due to the location.

 

My offer didn't get accepted...

The agents says there's huge interest in the property and he is expecting better offers. I thought my offer was decent and would secure the deal. When there is a talk that the market is cooling, these kind of things suprise me and made me realise that never listen to the talk