NSW NSW - The Ponds

Hi All,

I have lately being trying to buy my FHB(since last 1.5 yrs) but glad I waited.

My max budget is 750k and there was a time when nothing was available in Ponds for that price. Now recently my friend bought a house there under 750k and this price is very tempting for the area.

Again, I feel its a new inflated suburb like others in WS. I live in RYDE area and kid goes to school and hence gentry is equally important.

The reaon for Ponds as a option is the house. Whereas if I choose to stay in Ryde , it will be townhouse in that price. Moreover ryde has so many constructions, so it may fall as well.

please share your thoughts

Regards,
-M

 

Ryde will always be worth more than the ponds due to...
- proximity to city
- proximity to Macquarie university
- Asian influence of buyers

The ponds is over valued because it’s new and shiny. Traffic from there is a nightmare in peak hour.

If you want a shiny new house, go the ponds. If you want a property that will be a better long term investment, go to ryde.

 

Do you have to buy now?

If you like Ryde and you think the prices will keep dropping, why not rent for another year, save up more then buy.

I live in Darwin and we are at the tail end of a huge property crash. The areas that were hit the hardest were the shiny new areas out in the sticks and areas that were overbuilt with apartments....

This seems to be consistent with how crashes in other parts of Australia and the world have rolled throughout history.

 

Ponds had its run. Overpriced shiny stock. More pain to come.

 

Thank you @Foxdan.Much appreciated. Any thoughts reg a older unit rather than a townhouse. Being a FHB my desire is to restrict myself to 650k so that i dontpay any stamp duty

 

Thanks for your reply @hammer. No I dont have to buy now however, this seems to be a good buyers market and I dont know where the bottom is.

I like the fact that "The areas that were hit the hardest were the shiny new areas out in the sticks and areas that were overbuilt with apartments....". Sydney is all about shiny sububs and High rises scares me more

 

Thats what i thought. So glad i am asking all you experts.

 

If it's your home I find a lot of times it's all about you and your family's lifestyle choice and commute time to work. So it's about you and your family finding the balance of living the lifestyle you want and not sacrificing too much time to/from work. Oh and plus kids school too.

Given it's your first home personally I would tend to stick with a townhouse in Ryde and then down the track trade up to a house. Not ideal but like a lot of FHB trying to get into Sydney - they're starting to realize the first home will not be their ultimate dream home, but something that'll get them into the market for now. And then later on once they made some money from current PPOR and income improves, they can then look at trading up to their dream home.

Cheers,
David

 

I am far from an expert but the trend is clear and the bottom is not near. It'll be 2020 before the dust settles but in the meanwhile keep an eye on the market and familiarize yourself with various suburbs/mini-markets.

 

Any stats on this? What am seeing is that it is still the opposite fhb going for large new homes, most often in far flung new estates.

 

I see only Indians (btw I am indian too) going for bigger houses with lot of travel time to city.
Mostly think its going to be their dream home.

 

And you think buying the same stuff as emotional inexperienced fhbs who get blinded by the shiny new surfaces, overpay and underestimate the risks is good because.....?

 

Unfortunately I don’t have any stats on this. If I find something I’ll share it on here. But it is purely based on dealings with my clients - essentially comes down to their family composition, commute to work and acceptable lifestyle.

Cheers,
David

 

Your statement is only true if you are referring to houses, but the prices difference put them in two different category.

 

That is because most people of Indian Origin (like myself) don't mind travel time but want a bigger house for their family...is my understanding.
Location wise Ryde is a much better suburb in many ways as mentioned by other members compared to The Ponds

 

[QUOTE="
Given it's your first home personally I would tend to stick with a townhouse in Ryde and then down the track trade up to a house.
Cheers,
David[/QUOTE]

Would it be possible to get a townhouse in Ryde within the $650K budget the opp has?

 

But is there enough demand to support prices in the ponds? Given that there is a lot of supply as well. Homeowners, if they have jobs, can usually hold on even if prices fall. Developers cant, so they will cut prices of the market turns.

Problem with the ponds is that the new developments look exactly like the existing stuff. In ryde, the new apartments arent the same as an older unit or townhouse.

 

I've marked approximate walking-time circles for the train stations in the area. These are based on radius of 500m (red circles) and 1km (blue circles). Any of these areas will be nominally less than 15 minutes walk from the train stations.

A lower price-point may be achieved in Riverstone but I think it's better in the parts of The Ponds and Rouse Hill that provide a choice of either of the two stations.

 

There will be some on-demand bus services introduced into The Ponds once the Metro opens.

ON DEMAND BUSES TO CONNECT THE PONDS AND SCHOFIELDS AREAS TO LOCAL STATIONS

 

$650K unlikely, but OP said in his first post his max budget is $750K so I reckon it'll be closer to this number with a 2 bedder townhouse in the Ryde area.

Cheers,
David