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NSW Mount Druitt .. Still going up or has it peaked?

Discussion in 'Where to Buy' started by D'Mo, 29th Sep, 2015.

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  1. D'Mo

    D'Mo Well-Known Member

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    Interested to know what everyone thoughts are on mount Druitt ..

    Spoke to a real estate agent today who predicted that it's potentially 'still got 10% growth' - with its main driving factor being Parramattas vicinity & the prices there being so high

    With people here predicting Sydney slowing down, would you say mount Druitt has peaked already or would you take a gamble & still look to buy in that area? Hmm
     
  2. DaveM

    DaveM Adelaide Buyers Agent & KFC Strategist Business Member

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    Stopped buiying there in 2013 :)
     
  3. D'Mo

    D'Mo Well-Known Member

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    Would you consider selling your property there or are you hoping its still got some left in the tank?
     
  4. RetireRich101

    RetireRich101 Well-Known Member

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    I wouldn't buy in Sydney if there is potential 'still got 20% growth',

    But would hold off a bit longer to sell if there is potential 'still got 10% growth' promised
     
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  5. DaveM

    DaveM Adelaide Buyers Agent & KFC Strategist Business Member

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    I would for the right price :)
     
  6. MsAli

    MsAli Well-Known Member Premium Member

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    Going by the last cycle, it should grow 5-10% more. However I reckon it's peaked.
     
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  7. Propertunity

    Propertunity Exclusive Real Estate Buyers Agent Business Member

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    So you missed out on 16.5% CG in 2014 and 23.9% in 2015 so far? :(
     
  8. 2FAST4U

    2FAST4U Well-Known Member

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    How did he miss out when he's still holding the property?
     
  9. MsAli

    MsAli Well-Known Member Premium Member

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    Alan, do you see further growth happening?
     
  10. twobobsworth

    twobobsworth Well-Known Member

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    He didn't buy more
     
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  11. Propertunity

    Propertunity Exclusive Real Estate Buyers Agent Business Member

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    He stopped buying. Opportunity cost only.
     
  12. Propertunity

    Propertunity Exclusive Real Estate Buyers Agent Business Member

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    Yes. Probably along the lines of what you said. :)
     
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  13. DaveM

    DaveM Adelaide Buyers Agent & KFC Strategist Business Member

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    Bought a PPOR instead which killed servicing.... which has grown nicely as well. Rest of western sydney holdings have done well too :)

    2014 and 2015 have been a bunch in Adelaide, which are starting to be developed now.
     
  14. R377

    R377 Well-Known Member

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    How does Mount Druitt compare to its neighbours ?

    Rooty Hill, Whalan, Oxley Park, St Marys and Werrington ?
     
  15. York

    York Finance Broker Business Member

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    Yep...id say that's about right Sana. :)
     
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  16. York

    York Finance Broker Business Member

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    Nice Dave. Are the developments on your Elizabeth/Salisbury properties? Knockdown/rebuild?
     
  17. skater

    skater Capitalist Premium Member

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    It's hard to say if it's peaked, or there is more in the tank. We recently sold one, and religiously went to every open in the area for at least 4-5 weeks prior. The stand out for me was the lack of attendee's at the opens. Just a few months prior, it was standing room only, and by the time we sold, some had only a handful.

    There are buyers out there who are still willing to pay a good price, but I'm not entirely sure how many of them there are. You'll get a good price if two or more are wanting your property, but if not, you may be disappointed. Spring might have had an effect in bringing more buyers, but it has also brought more sellers as well.
     
  18. datto

    datto Well-Known Member

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    RX7, Whalan is part of the Druitt.

    I think the area has still got some pump. OK numbers at open homes are down but some properties are going for over 500K out there. And you get big blocks.

    I'm thinking a peak of 600K for an average house sitting on 650 sqm of good 'ol Aussie soil.

    Warning: my thinking has been influenced by the fact that I own a house there....which I bought for a song....and if I ever sell it for 600, boy am I gonna rub it in someone's face lol.
     
  19. sash

    sash Well-Known Member

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    It has definitely peaked and is already on its way down...give it another 6 months and it will be clear as daylight.
     
  20. skater

    skater Capitalist Premium Member

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    While this is true, there are some going for much less as well.