gday guys, just thought id make a quick introductory post as it is recomended when signing up. im on this forum to try and stay more informed on property. i have recently been lucky and sold my ppor about a year ago and achieved what id consider peak price for the property (looking back at it in hindsight, at the time i thought pricing could still keep going up) so i am in the market to upgrade to a larger better located ppor, im looking in greater west/blue mountains/ penrith area, 850k-1mil range. i also have an IP that is neutrally geared worth roughly 350k looking to get advice on when to buy, how long/far this current decline in prices will go, penrith has seen 15-20% decline in prices for kind of house i am looking at, which is obviously lucky for me. i am actively looking for this ppor, bargaining hard for homes i like but willing to wait if need be. after this purchase i will be looking to purchase another IP possibly in sydney/ west sydney area depending on how far price correction continues.
welcome to the forum @frankjeager what a good timing: sell high & buy low have you been looking at Penrith for long?
thank you ! yes i have been looking at penrith for years. i have lived in and around the greater area my whole life, i know alot of jokes and stereotypes around penrith and the west in general, but honestly i cant think of an area in sydney that id rather live in than the nepean/lower mountains area. some really beautiful spots around the river/mountain ranges
Penrith and the mountains have transformed a lot in the past few yrs, you would have seen all these positive changes. happy to run some RPdata reports for you to help with your research.