Western Sydney jobs: Deloitte sets 2020 target to keep city working Keeping it interesting for the next couple of years.
more news.. Parramatta light rail line via Sydney Olympic Park gets green light I think parra will come along nicely. I am still hoping to pick up oversupply OTP apartments in next few years
Light rail is a game changer for Parra. Can only see good things for parra in the future. Next 5 yrs Parra skyline will be transformed.
It's already quite expensive to get into Parramatta now IMO. How much more can prices grow for Parramatta?
Fantastic news. They chose to start with a combination of the 2 preferred routes, including replacing the Carlingford heavy rail line (not all the way to Macquarie Park, though) as well as the route to Sydney Olympic Park through to Strathfield. Making it happen in Western Sydney: Parramatta light rail network unveiled | Transport for NSW Video from NSW Transport:
Making the Parramatta - Carlingford line end up in Carlingford is rather silly. It should connect to Epping or somewhere else with the rail at the other end. Because other than James Ruse students, who else would benefit from the line terminating at Carlingford Station? Its not a line people will tend to use to get to their workplace.
I agree that Carlo should be connected to Macquarie park. I take train from Dundas to Clyde to switch to western line. Got used to it.
I found an OTP 2 bed 2 bath apartment near westmead for $580k - really considering it to take advantage of the 15k first home owners grant before it goes down to 10k next year and for the mild stamp duty discount. I know this forum's mantra is that OTP is a really bad idea hence I've been hesitating - at that price though - is it really that bad?
You should assume that you are buying at a premium. Secondly the valuation at settlement may be different from what you paid. There's a thread today regarding a valuation of OTP that is $50k less. Is it a good price? Hard to tell really.
Prices in Parramatta are coming down (for the units at least). They will go down a little more IMO but don't expect the prices to crash 40% or something. They may come down 10-15% and then stabilize.
i wonder if the rate of softening is greater for new units only and whether older established units will hold their value better.
From what I have seen, new units are going down in price at a greater rate. Almost new 3 BR units have come down by around 80k already. The older units have held their value much better.
I don't mean to buy OTP now, once they finish, (if ever ) oversupply, then will buy at bargain prices in 2 years..
My mate bought an OTP in the new crown building and came out ahead with mutiple of crazy offers from people. But he did purchase it prior to the crazy boom time.
Some concept designs have been released on the redevelopment of Arthur Phillip High School and Parramatta Public School as the first high rise public schools in NSW. "Parramatta's Arthur Phillip High School will be rebuilt in a 17-storey tower in a project the state government hopes will show how to build education infrastructure in dense urban settings. The 55-metre tower to be built in the western Sydney city's CBD will be adjoined by a separate four-storey curved building housing a new primary school, Parramatta Public School, under the plan by architects Grimshaw and BVN. They will open in 2019." School in the sky? Parramatta's Arthur Phillip High first public NSW high-rise school
Just read a newsletter from MP Geoff Lee, in particular the light rail plan. It states "Light rail routes will connect: westmead, sydney olympic park and strathfield via camelia. At camelia the line will split, creating a route to carlingford via telopea, dundas and rydalmere." Yes, the carlo line needs to have a more reliable service... I'm kinda sick of waiting for a train every hour to get to clyde before changing platform.
