Weighing up the pros and cons. We're looking at buying a PPOR in the Kellyville/Beaumont Hills area (We prefer this area for various reasons). I understand it is probably NOT the best time to be buying in Syd atm, but then again the rules are a little skewed when it comes to ones PPOR? We found a few houses we like that would be walking distance (about 1 to 1.2 kms) to the new Kellyville metro station but close to Windsor road (Filtered noise as there are a few homes between the house and the road) I'm keen to hear what people think, could the proximity to the train line (future benefit) over-ride to some extend the proximity to Windsor? The homes are cheaper closer to Windsor (for a reason ofcourse) but allows us to enter the market in the area. Thoughts please? Thanks
Hi @The_good_life Yes buying PPOR is different to investing in Sydney. It is a lifestyle decision. You may be able to get a good deal now anyway as Sydney cools down. My personal choice is staying away from main roads. If it helps you get into the area, great, but do remember when you come to sell it, you will have prospective buyers concerned about the same thing. Good luck!
I agree with Monalisa! Also I think you'll start getting the ability to buy a house in the Hills District at the price you want in 2016. While the train line is a huge positive, the market is cooling in general so if you aren't in a rush to buy, you may be able to buy a house in a better location for the same sort of money. I doubt prices will do anything like the recent growth it has had (I believe prices are dropping in most parts of Sydney, not by massive amounts but the heat has gone and so people find they can buy closer in or in a better location than they could a few months ago for the same money) and you may be able to find a desperate seller (divorce, death etc). But... the Hills could do anything with the new train line... it could increase demand and perform better than other comparative areas the same distance from Sydney. I think house prices in the area could do anything in the new year from a 10-15% drop to a 10% increase. But the over the top craziness has gone, that's for sure.
Thank you! Guess, it may be wise to wait.Although it is so hard to predict in this pocket. We rent locally and know the area well, the demand has fallen a bit from a few months ago but there is so much happening here (new homes, train lines, shopping centers both ends of Samantha Riley etc..) We're tossing if demand will increase again closer to when work on the metro starts next year..
