My auction experience on Saturday 8 May - North Kellyville

I live in the region (Greater Kellyville) and it has me stumped with recent sales. $1.74m is a reasonable price for what is a near new home. But in NK on 560m2 ? You need to hire a car to get to bus to get to the metro. I hadnt seen the growth in NK until recently and its a damned long way out. Some areas better than others as the Hills Council seems to allow developers to add on new streetsand builds like a crap patchwork quit with no thought for roads and gutters etc landscape ofr streetscape. Cars piled up on roads due to lack of parking etc. But that area around NK beats that around Hezlett etc which is almost a ghetto. Its terrible development. Aweful skinny bad roads and density that doesnt even accomodate cars with apartments in the arse end of nowhere.

I would spend that $$$ elsewhere

 

That's a massive house if you ask me.

 

Thinking like this also goes the other way around. I know so many ppl that would always say to me I'll wait until the market falls or settles. Guess what? During the peak of Covid when the market was down and no buyers in sight they still didnt have the guts to do it.

A fence sitter will always is a fence sitter.

 

Migration hasn't restarted yet.

That also doesn't account for many Australian Citizens still trying to make a permanent return from living overseas.

 

compared to what?

 

do u mind to share the video?

 

When houses are selling at the first open with multiple offers it is hard to make a good decision. When the market is flat like it was in Brisbane for almost 10 years buyers can annalise properties better and even get quotes for renovations before buying. People are spending longer times buying cars than their (soon to be) homes over the last few months.

It will level out eventually. Yea FHB may be out of pocket if they hold off buying, but FHB are generally younger and have years in the market to experience future growth.

 

I dont want to start a FHB and their expectations vs reality debate, however, there must be a point when even the market has to stop/plateau/drop when a FHB cant even buy a 1bdr dilapidated shak 2 hrs+ from the city,
that been said I do see 3 BDR H/L packages in Clyde (vic) being advertised for under $500k

Thats very within reach of any Dual income

 

That’s correct. I think if you want your own place ((not as an investor), sometimes just getting into the market once you’ve found something ideal is the way to go - assuming you’ve got the funds available. Obviously find the best price you can but sometimes the criteria should just be to buy the damn house and start living.

 

My first impression. I’m more of an apartment style living person so to me most things are massive.

 

I’m not sure if Simon Hampel will appreciate me uploading a 5 min plus video.
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Evan then it is hard to pick. If the recovery starts it doesn’t necessarily mean that the trend will continue. All you can do is look at all the info, see what’s happening in the market, your personal situation/goals then make the best decision you can.

 

You can share a link, but you didn't get permission from the people in the video to be filmed, so better not make it public.

 

What's Sydney metro median approx now - $1.2m or so?

 

Kings Langley too. People who are being priced out of North Kellyville are looking there now.

 

Hi Gockie - I am happy to follow the rules/guidelines.

My understanding is that given the auction was advertised and held in public it can be recorded.

Can one of the moderators advise - if it complies with rules, I can put it up on YouTube and share the link.

 

However I do watch agents posting auction in YouTube? So if @PropDir is sending me the video privately then it’s ok, am I correct? As want to understand the correct way

 

Thanks Simon for clarifying. All good.