NSW Mt Druitt and Jamisontown markets

Discussion in 'Where to Buy' started by Jmillar, 10th Sep, 2017.

Join Australia's most dynamic and respected property investment community
Tags:
  1. Jmillar

    Jmillar Well-Known Member

    Joined:
    26th Jun, 2015
    Posts:
    679
    Location:
    Sydney
    Hi all,

    I'm currently selling my 2bdr units in Mt Druitt and Jamisontown and have been monitoring the market on realestate.com.au but wondering if anyone here is on the ground more actively monitoring this market.

    If so, what are you seeing? More buyers? Less buyers?

    My Mt Druitt unit is basically an investment product. The Jamisontown one is a nicer unit, suited to both investors and Owner Occupiers. Both of them older style, circa 1985 build.

    I've got the asking price on the high side of where it should be and just sitting back waiting for a premium offer, as I'm not desperate to sell, but if the consensus is that the market is cooling then I'd be happy to drop the price and get rid of the Druitt.

    Thanks!
     
    Jmillar, 10th Sep, 2017
    #1
  2. skater

    skater Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    10,256
    Location:
    Sydney? Gold Coast?
    I'm not going to be much use. I haven't been looking lately....& even when I do, I'm not much into units, but on a bright note, we had an open for a property in Campbelltown, last week. We had 15 parties come through & a decent offer. I'm hesitant to say anymore until it's at least unconditional.
     
    skater, 10th Sep, 2017
    #2
    datto, Jmillar and Gockie like this.
  3. ttn

    ttn Well-Known Member

    Joined:
    9th Sep, 2016
    Posts:
    557
    Location:
    Sydney
    Isn't @datto the King of Druie? Looking forward for his suggestions ;)
     
    ttn, 10th Sep, 2017
    #3
    datto likes this.
  4. hash_investor

    hash_investor Well-Known Member

    Joined:
    11th Oct, 2015
    Posts:
    2,440
    Location:
    Sydney / Canberra
    Market is definitely cooling down a little. A unit in my building is now for sale for the highest price in the building but they are sitting for a while
     
    hash_investor, 11th Sep, 2017
    #4
  5. Tony Fleming

    Tony Fleming Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    717
    Location:
    Sydney
    Seems to be a lot of young FHB that are actively looking at units in the Penrith region, especially with an older build as the newer builds are ridiculously priced.

    Not many investors left that are looking at units. It's all about land size in the West at the moment. Does the Mt Druitt unit have a tenant in place? That will help it sell from a investors point of view.
     
    Tony Fleming, 11th Sep, 2017
    #5
  6. Jmillar

    Jmillar Well-Known Member

    Joined:
    26th Jun, 2015
    Posts:
    679
    Location:
    Sydney
    Yep tenanted at the moment :)

    Cheers
     
    Jmillar, 11th Sep, 2017
    #6
    Tony Fleming likes this.
  7. datto

    datto Well-Known Member

    Joined:
    23rd Jun, 2015
    Posts:
    6,675
    Location:
    Mt Druuiitt
    Older style units in Mt Druitt appear quite cheap.. Ii don't think the market is too hot.

    House prices are still strong. Hardly anything under 500K.

    Looks like you're doing some profit taking .
     
    datto, 11th Sep, 2017
    #7
  8. hash_investor

    hash_investor Well-Known Member

    Joined:
    11th Oct, 2015
    Posts:
    2,440
    Location:
    Sydney / Canberra
    Does anyons have more updates about new units in the druitt? I heard from an agent there is a whole lot cropping up near the shopping center.
     
    hash_investor, 12th Sep, 2017
    #8
  9. skater

    skater Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    10,256
    Location:
    Sydney? Gold Coast?
    There is some being constructed at the moment.
     
    skater, 12th Sep, 2017
    #9
    Tony Fleming likes this.