Hi all I'm looking at a one bed plus study OTP apartment in Liverpool CBD to buy initially to live but ultimately an investment. 65sq apartment for 450K. This seems reasonable compared with recent sales of competed 1 bed apartments in the Livo CBD. I'm curious to hear others thoughts on Liverpools potential for growth? I know the area cops a lot of slack given the amount of development going up but population is due to keep growing to eventually become size of Canberra, and surely airport can only be positive??? I was also looking at Wentworthville but apartments are more expensive and much smaller. People say Liverpool tipped to be next Parra so perhaps getting in early while still cheaper good idea?
Hope you're right with all the positives about Liverpool. I got an old 2 bedda near the hospital. I keep an eye on the prices out there and sadly they are as flat as a lizard on a rock at a water hole. I do hear the hype about the airport, the new uni and the influx of refugees. What affect these will have remains to be seen.
Why OTP? Why a 1 bedder? I'd personally look at an older 2 bedder for the price, or explore opportunities outside the CBD and pick up a 2 bed townhouse for similar money in lurnea which is only a 10 minute bus ride in.
really @datto ? if yes, you have done ok but in last couple of years, I was going to jump in at 300k mark not that long ago and now are asking 380ish I have seen some ads for new stuff, I also thought the price was not that bad really, however I would not be expecting any growth for quite some time for anything new. Like other areas and discussion elsewhere on here, I do think there may be opportunity when there is a lot of stock hitting the market & if lot are not able to settle.
I sometimes dabble in property outside the Druitt lol. IMO the prices are flat out there. Sure, there has been some growth over the last few years (just like other areas of Syd) but it has plateaued now. All those high rises in Liverpool have soaked up the market. If they weren't there, prices of the old stuff would now probably be 450K.
I think it will be interesting to see what happens, I was holding off for that big pull back everyone was talking of, it did pull back around 10% and now gained that all back. They are still selling, so while i t is like that, prices will stay up.....will be interesting to see what happens when all the new stock is available. I was looking at a block yesterday, almost straight across from the main entry, would be good to hold that.
I thought this was an old post. There's been a few identical posts up over the past year about the same thing. Same sort of replies: don't buy OTP. Overpriced. Hard to rent. No capital growth in the near future. People who did well have already done well and there isn't much happening now.
With Sydney now peaking, these areas are the areas that generally see the most pullback in the cycle trough. Best time to buy in Liverpool was 2012. As this point, I personally don't see much upside left now. $450K for 1br in Liverpool. Why not get something a little old than OTP for even $400k or less closer in (Parra, or so many other areas) I don't get OTP. Unless it's a super growth period like 2014-2016 (and you see solid growth), most OTP are overpriced by developers. You often see OTP sold years later for less than the original purchase price when some novice buyer bought at peak. And on top of that, the quality of the new builds is absolutely CRAP these days. Paper thin walls, concrete facades that crack and fall off 6mths after completion. Give me a solid, well built older unit block any day!!. Lower entry point, good rent still in well located areas.
I think you've missed the boat on buying off the plan in Liverpool. I work with a lot of developers and sell these kinds of properties but I wouldnt recommend OTP in Liverpool for investment right now. You're better off buying an older property in those areas. A friend bought a 3bed OTP there 2 years ago for $360k and 6-8 months later valuation came around $460k at settlement. Now it's worth in the mid to high 500ks. So I think Liverpool has already had its fair share of growth for OTP. If you really need to buy OTP because of time advantage, stamp duty savings, first home grant etc then I recommend you look at Penrith. You can get yourself a 2bed OTP with 2+ years settlement for $480k or an OTP 4bed townhouse in the mid $500ks. As I said in one of my other posts, Penrith has a lot going for it in terms of infrastructure spending and job growth. You should see better returns there.
