NSW PPOR in Sydney direct CBD commute under 650k

/Exits thread.

 

I agree with the others not to buy in Sydney if you may sell in 3 years. I doubt there will be any price rises in the next 3 years so holding off til then is unlikely to keep you out of the market.

I'd be renting in one of the many oversupplied, overpriced apartment developments in Parramatta, close to the station. The express trains will get you to the city in less than 30mins.

 

The central coast is about an hour and 15 minutes commute .East Gosford has a good bus service and is only 5 minutes from the train station.You will pick up a nice 3 bedroom unit for around the 600k - 650k mark.

 

Anywhere on new metro line
Or small place in Mosman / Brookie/DY

One hour = Coogee/Bondi or Newport - even though there's a difference in km the congestion is awful In the inner ring

I'd buy a house as close to Brisbane cbd as possible

 

If you like Quakers hill ( I think you explored the area already), you can take look at this house 30 Medlow Drive Quakers Hill NSW 2763 - House for Sale #125913558 - realestate.com.au

 

Thats cheap. But be carefull its a single bath adverised as 2

 

It doesn't say but I think they might be going for Auction and thats why they mentioned the price guide. Yes its rare to get a house in Quakers hill for that price or is it just a guide to attract more people and later when they are lot of people in the open home. say have higher offers and sell at premium price

 

Absolutely. Underquoting it is.

 

Campbelltown and surrounds.

 

I checked and they say its private treaty sale. Any guesses for the final sale price?

My bid would be 750k based on Quakers hill current popularity among families

 

This is under contract now. Might have sold for about low 700 to 750. Lets see the actual price. I was looking at the page views and its whooping 5000+ in a week ...

 

Since the stamp duty exemption for first home buyers kicked in, page visits/ views have significantly increased - similar to when the Sydney boom started a few years ago.

 

Glad that we bought our PPOR recently before all this. I knew Quakers hill was popular among families. I could see that in the open homes I went to attracted lot of buyers. Was surprised to see the page views and I assume the property view nos have also gone up.(glad I'm done)

I think you are right about the stamp duty exceptions attracting many first home buyers. This will give some competiton for those looking to buy their next ones.

 

If it was sold for more than 110% of the $650,000 advertised price (which is around 720K and above), will the agent be in trouble if reported?

 

Plenty of suburb options for 2 bed units in your price range and commute range- even LGAs like Ryde (less than 15km from cbd) will suit. Parramatta offers choice but you'll need to be selective with areas and complexes. Even Hornsby LGA might suit (though this is getting tougher in the sub $650K for 2x1x1 stock). Happy hunting

 

Maybe if the price increase is caused by competition among buyers, the agent should be good?

 

I would report if I put down my offer at $715K and it was rejected on the price ground - clearly an underquoting rule violation.

 

Right if I have another buyer with a written offer of 730, then the price has increased due to demand right?

 

If you're OK with going for a 5-10'min boat ride to a train station (then 55 mins to CBD) then you can pick up a waterfront house for under $650k.

Bar point, Dangar island, etc.

Not for everyone, granted, but then neither is living out West

 

Have a look at Meadowbank.
25min by train to Central station.
Have options of Bus/Ferry as well. Good school - west ryde school. Shops (Aldi/Woolies) all near by.

Look in Meadowcrescent street. You can get old 2 bedder in fairly good condition in sub $650k.