NSW Is a property sitting on a T-junction on an arterial road a non-starter?

I'm a FHB and interested in buying this apartment (and hopefully turning it into an IP down the track):

https://www.domain.com.au/2-73-shirley-road-wollstonecraft-nsw-2065-2017442253

It ticks all the right boxes for me except that it sits smack bang on a T-junction intersection. I feel that this attracts a lot more traffic which could be noisy and annoying. I've also heard that T-junctions have bad feng shui and could turn off potential tenants and future purchasers if they subscribe to those beliefs.

The apartment is also on a single lane road with unbroken double lines. It's reasonably busy as it serves as an arterial road for Pacific Highway for the rest of the suburb.

Would you still be interested in a property if it:

• sat on a T-junction
• was situated on a busy road?

 

I wouldn't call it an arterial road, rather its probably used as a rabbit run for locals so is likely only busy during the day / rush hour.

The street in the link doesnt look busy ('busy' being subjective)
The Pacific Highway is what I'd call an arterial road.

I wouldn't be worried out the T intersection there either, that Milner cres doesnt look overly busy.
In anycase the unit doesn't even appear to face the T intersection. The floor plan has it facing north (huge plus imo) which suggests the unit is around the side.

Dont worry about someone thinking its bad feng shui, I doubt the potential tenant pool are overly superstitious to the point its worth influencing your decision over.

It ticks all the right boxes for YOU which is what matters.
If you rent it out later then I can assure you that tenants will be alot less picky about any perceived cons than yourself as an owner occupier.

 

It's best to avoid T-junction properties and busy roads. It may not be an issue for tenants but if you were to sell this going forward, you may turn off potential buyers.

 

No laundry is more of an issue.

That end of Shirley Rd is quieter as it's only taking peninsula traffic.

Location wouldn't be an issue as you would only avoid a junction position for a house - it's not as much of an issue with units.

 

This! If the property ticks all the boxes for you, then the rest isn't an issue.

 

Yeah that's where my thinking is at the moment. I visited the area during the day and it was "busy" for a suburban road. As you said I think the geography means that it's mostly locals getting from A to B, but it's the road that all locals would use to get anywhere. It's the only thing giving me a slight pause but should be okay.

Thanks for your help.

 

Im also on a 'busy road' but my unit is actually on the opposite side of the road in the complex so I'm none the wiser.
If you havnt already visited it you will know as soon as you walk in whether its going to be problematic.

 

Surely European laundry?

 

I inspected it and the bedroom is unfortunately facing the street. It's not ideal, but I might check it out at night and see if the traffic is busy then as well.

 

Not even - it mentions adequate room to install one. It only needs a postage stamp

 

There's space in the kitchen for a European laundry, and there's also a shared laundry room on each floor of the apartment. I don't know how I feel about a shared laundry yet...but at least it's on the same floor as the actual apartment. Would that turn you off a property?

 

Yes, but I wouldn't live in a one bedroom apartment either, so it's irrelevant. The important thing is if it turns you off it.

 

Yes
European laundry ok, but u going lose space in kitchen
Not a big kitchen

 

I recently bought a property where the driveway meets at a t junction - I was ok with it because the t junction was not a busy road, it’s just a suburban st

if it was a busy road, I probably wouldn’t have gone ahead

 

Have any of you noticed that there isn't a power point for the fridge?

 

Not an issue .. not an arterial road, not really a T.

A bit of a walk to train but not too bad.

 

What are you expecting to pay? What did no. 7 sell for? I love Wollstonecraft- great area and so handy to the city, whilst still having peaceful pockets. Good luck

 

I assume it's hidden from view behind the pantry?

 

The listing agent said number 7 sold for low 800s. There's a couple of similar listings in the area:

• This place apparently sold for 772k on Saturday: https://www.domain.com.au/12-22-hazelbank-road-wollstonecraft-nsw-2065-2017390879
• And this place is guiding at 740k with a few pre-auction offers above the guide in hand already: https://www.domain.com.au/1-4-morton-street-wollstonecraft-nsw-2065-2017405756

I'm hoping under 800k with all this talk of a cooling market...but I always underestimate by 50-100k lol The Shirley Rd apartment is quite a bit bigger so I can see a bid at, say, 10% more than Hazelbank Rd one - around 850k? Can't afford that so fingers crossed the high strata knocks out a few competitors or I've overestimated for once but I really don't know what to expect anymore. I'll turn it around and ask you the same question - how much would you expect this place goes for?

 

Whats the max you can / are willing to pay for it?