NSW Buying this 650-700sqm land house and knockdown

Thinking to buy something like this in WH area for 900-1m mark and rent it out initially for couple of years then knockdown and build two duplex houses in one land and resale them. Any thoughts on such houses and area and pricewise?

134 Junction Road Winston Hills NSW 2153 - House for Sale #125458358 - realestate.com.au
66 Junction Road Winston Hills NSW 2153 - House for Sale #125499562 - realestate.com.au

 

The answer lies in where you think the North West Sydney market will be in a couple of years time. My view is that unless you have ways and means to get the duplexes built at a low cost (example you are a builder), trying a small development when the market is flat/ downturning will always be challenging in terms of turning a profit.

 

I wouldn't consider either. The first is in the noise corridor and so close to the motorway. The latter is on the low side slopping back.

Have you considered Parramatta satellite suburbs ? Some still have a median around $850k and duplexes are popular form of build in the region.

 

[QUOTE="Property Twins, post: 421065, member: 6042"
Have you considered Parramatta satellite suburbs ? Some still have a median around $850k and duplexes are popular form of build in the region.[/QUOTE]

Thanks which specific ones? and are you ref to knockdown property?

 

Look at Wentworthville, Pendle Hill, Girraween, Toongabbie
You could get something liveable and with future potential to re-develop
Pluses: within 10 min train to Parramatta & 35 to 50 min on train depending on which suburb you buy in; And within 8km drive to Parramatta / Blacktown / Norwest Business Park

 

Thanks, i don't think Wentworthville houses are in that lower range, are u sure?

 

Wenty median is closer to a million. However you get the drift - the surrounding areas are catching up.