NSW Leppington land off the plan

Once again nothing to add. You've only had 36 posts on this forum. Now run along buddy, no one likes you. Ive got four properties all around Australia and shared info on them. Now I'm sharing the how the value of the land has increased from when I started selling them. At no point did I encouraged or asked anyone to buy anything from me. I think the best judge of that would be the OP as he started it. Would you say the same about the other professionals who have accounts on here too? Obviously the exposure helps them. PM on here wants the recommendations from other Investors, buyer agents wants the recommendations after helping someone out with a good property purchase, brokers after helping people structure loans and real estate agents like me can help sellers sell properties as I got contacts with Koreans and Chinese segment of the market. I don't see whats wrong with me giving my view on the market like the professionals do. We all can add value but you haven't done it at all other criticising people. are you trolling or what?

 

Seem like encouragement to me, and was also seen that way by others.

OK you don't need to repeat yourself like a drunk.
Is the rude racism just you or is it a cultural thing?

 

Interesting...were you not sayin that no correction in Sydney?

Hey remember our convo's about Werribee and Melton...you might want to look at prices there...

 

....and which post I said Sydney will not go through a correction?

...and what's your weeribee and melton got to do with this Leppington land off the plan discussion?

..and you keep quoting my post and calls me a troll for replying, despite I continue telling you I just don't like you.....just hit the ignore post Sash

 

Letire Lich.......no worries...will advise on security switch...must be terrible for you to sit on your hands and not be able to borrow despite you well publicised profits.

Ta ta old chap...carry on as you were...

 

This is a rather entertaining thread

@2020vision seems like a really good price for a 300m land at $305k - any drawbacks? will you be building on it right away when it settles next month? I still believe the Southwest market (particularly Leppington) in the long term despite the upcoming correction. Strongly supported by the airport - how many of those do you see get built in your lifetime?

 

@Michael M. There are no drawbacks with is block, the only issue is that I have to settle on it now. I'm not planning to build right away as I am in no hurry to have my own place yet, the only reason why I purchased this block was I wanted to eventually have my own PPOR in Sydney and I think in 10 years time Leppington will be a completely different place to what it is now, but thats just my opinion. Mind you I wouldn't pay over $1100 per SQM for Leppington if I had to settle tomorrow.

Originally I was looking for OTP land in Leppington where I could settle in 3 years time at the price point of $1250 per SQM but the one I just purchased worked out to be a better deal.

I will now put my focus back in Surfers Paradise(Gold Coast) where I already own several investment properties and focus on finding more properties like this one below.

www.realestate.com.au/sold/property-apartment-qld-surfers+paradise-125240366

 

Now that you have purchased it, can you share more details on it? How close is it to the station and future shops etc? Any easements?

 

@Pentanol The block is at the Willowdale estate in Leppington, its about a 6 minute drive to the leppington Station and 3 minutes drive to the new Coles they are currently building. I wanted to get something closer to the station as the potential for CG is higher but the prices were around the $1300/sqm mark and I can't see Leppington land going above $1400/sqm anytime soon.

With the state government's decision to have first home buyers not paying stamp duty for properties under $650k I think there will be a high demand for H&L packages in the $650k range not that it's the right thing to do, but because we live in a society that most young people want instant gratification and many first home buyers will want a shiny new home over an established better located dwelling.

 

Do you know how many immigrant engineers work in Macquarie Park telco/business area? Most of them relocated for a few years, have 60-100k in savings and just waiting to buy a descent house, good/v good school and easy commute to Macquarie park. So are thousands of doctors from Indian subcontinent working in blacktown mount druitt nepean hospitals. When the Norwest train network starts running every 4 mins from early 2019, it will take max 37 mins from the far-most cudgegong station to Macquarie park (optus and most of the offices have shuttles from epping station). A number of these immigrants will be renting/buying in all the norwest train station areas I can bet that. This class is crazy about good school area so kellyville baulkhan hill rousehill station areas will be hotspots. Even if there is a 5% price fall in these areas (these will still remain around 700k and very affordable for these people) they will be snapped by these people trust me, the developer/ investors will never have to wait for 30% drop for their 250/350m2 houses at all once the train line stats operating.

- the vacant lots floating in market not being sold for months in Schofields/ rouse hill/ box hill areas are usually 400m2+ size lots, they are over the budget of this immigrant class. Anything over 400/450m2 stays unsold for months or selling at a discount price. You will not see a single 300-350m2 lot in the market unsold in Marsden Park/Schofields/ Rouse hill area, only a few in box hill areas. Any 250-350m2 resell lands/ new house is being snapped within days/ hours.. or that lot may have a padmount/ huge rise/fall being the region for not selling.

- the prices of old huge 6 bedroom mansion like houses (now selling for 1.5-2m) will drop as they are over the budget for the target buyers in Kellyville/ Baulkham hills Castle hill areas. Even 50% price drop will still remain over the budget of immigrants.

-If correction occurs by a slightest %, the new suburbs with 250-350m2 newly build houses will be snapped but the expensive large old houses will drop by huge margin as there will be less people to buy them.
So on the graph the median selling price will come down on average but the newly built houses in norwest station areas will be sold easily with a slight discount

- if economy faces a disaster and the train stations are not operating/ developing in these areas, or engineers doctors suddenly becomes jobless (possible who know but ver u likely) those new eastates with small or big blocks will become ghost estates

 

I dont think QLD WA or any other estate have a similar Class as these telco network main hubs are only based in sydney with huge number of immigrant descent earners. All other estates may have regional sells offices with 30-40 workers only.


I dont think Leppington area is target of such an earning class. new build town centres may not have 10s of thousands of employees with 150++ annual single income or 250++ dual income class. Employees of cotsco bunning or any new shopping mall wont be comfortable to snap property's of camden/oran park leppington area even if there is a 20% fall. So I am pretty sure norwest area new suburbs with new houses with 700-800k have a better chance of being sold once the trains start operation

 

@Kis Kis I think what you will find in areas such as Oran Park/ Leppington and Camden there are dual income households that will pay $600k -650k as this is quite affordable for them especially if they don't have to pay stamp duty.

IMO I think the correction will affect properties over the 1.2 million dollar mark more than properties in the 650k mark. The popular theory that most people that own homes in the prestigious areas aren't high in debt is not completely true as it hasn't taken into account families that have taken a big mortgage just to live in those areas in the last few years. When interest rate rises it's the ones that owe a million plus on their mortgages that will be more exposed than the ones owing 600k

 

Just an update we have sold out our initial allocation of H+L packages in Riverstone (6) and Cobbitty (3) since my last update. Enquiries have increased too so it seems like the changes in stamp has done something! Second allocation of five for Riverstone ranges from 826k to 900k. Will keep you guys updated.

 

Thanks for the update @Pentanol, how big are these blocks in the second allocation?

Also just an update on the original OTP block I looked at which was originally @ $1,253 per SQM, that development are more than 60% sold out and the price has just gone up to $1,305 per SQM with settlement late 2019. Even with all the infrastructure going on in the South West $1,300/sqm is quite high for Leppington IMO but people are still buying

 

All between 384-387m2!