NSW PPOR in WPH or Carlingford

Discussion in 'Property Analysis' started by Zenita, 18th Apr, 2022.

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  1. Zenita

    Zenita Member

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  2. ParraEels

    ParraEels Well-Known Member

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    Out of three choices I like 3 Savoy Court. Please inspect to see if you are happy with the background noise from the M2. I visited the street during lockdown and traffic noise was not that noticeable. Now It could have increased and noise can be a very subjective thing.

    13 Savoy Court was on market around Dec 2021 with an expectation of $ 2.5m (same agent) and it was sold for around $ 2.3m. It took 120+ days to find the buyers.

    I am not a big fan of duplexes, especially when all bedrooms are upstairs. It is hard during pregnancy/illness to go upstairs few times a day.

    Not following Telopea and not sure what agent is quoting for this duplex. But have a look at 74A Alderton Road Carlingford. Expectation was $ 2m and sold for $ 1.86m. It took 162 days to find the buyers.
     
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  3. Zenita

    Zenita Member

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    Thank you for your input. 3 Savoy court has a non compliant swimming pool, plus it is going for auction. Given the current trend of property market, we are unable to get any realistic valuation for this house. Comm bank's online valuation is different to vendors expectation!
     
  4. Gockie

    Gockie Life is good ☺️ Premium Member

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    I'm just going to say walk to M2 bus at Murray Farm Road is the most convenient location. It's a great bus service. Telopea - I think nothing going for it but it might be cheaper.
     
  5. ParraEels

    ParraEels Well-Known Member

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    Auction tag is just there to nervous some buyers and create some urgency.

    I don’t think it will sell at auction anyway. Most of his auctions were withdrawn a few days before the auction date.

    94 Coonara Ave WPH – not sold at auction – same agent
    29B Anne William Drive WPH – auction cancelled -not sold 103 days – same agent
    4 Ellerslie Drive WPH – auction cancelled – not sold – price dropped $ 200k – same agent
    9 Sallaway WPH – auction cancelled – sold $350k less than advertised price

    Non-compliant swimming pool fence is not a deal-breaker. You will come across many property contracts with non-compliant pool fence.

    3 Savoy court got the best location and school. Wait and see the flop show and negotiate after the failed auction.
     
  6. Zenita

    Zenita Member

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    Do you think with the Parramatta light rail coming there, would this influence the Telopea house prices?
     
  7. Zenita

    Zenita Member

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    Initially 3 Savoy court had an auction guide of $2mil but now they have removed this guide, not sure why? What is your guess on price?
    52 B Gray Spence was sold for 1.77 mil. Looks like an emotional decision for someone. This price was good for 2021 but looking at current market trend, it looks like the buyer may have overpaid for this house.
     
  8. Lacrim

    Lacrim Well-Known Member

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    C'mon, you have to do a bit of your OWN research if you're looking to drop a couple of mill.

    I just invested 30 seconds for you and came up with this, so yeah about $2m +/-$100K. If you pick it up for < $1.7 you've bagged a relative bargain (in the current market). But I'm going to guess it sells for about $1.9-2m.

    https://www.realestate.com.au/sold/property-house-nsw-west+pennant+hills-136017130
    https://www.realestate.com.au/sold/property-house-nsw-west+pennant+hills-135655034

    Seems like a high turnover street though.
     
    Last edited: 23rd Apr, 2022
  9. Zenita

    Zenita Member

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    Of course, have done our own research. This house needs a lot of work but still it is reasonable to guess its price is between 1.9-2mil. So, do you think in the current market, the vendor may agree to price below 1.9mil ?
     
  10. ParraEels

    ParraEels Well-Known Member

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    I would not buy at $ 2m. As I mentioned before it is less likely to be sold at auction. So after the auction agent may have removed the price guide.

    I don't care about vendor accepts below $1.9m or not I focus on what best I can pay for this property knowing interest rate will raise before the property is settled and 10-15% correction looks very possible.

    Same agent has revised price guide 8-10% in last 3 months. He may need to do same with this property.

    Also understand in downtrend property affected by noise,high voltage line, easement will drop more than A grade property.
     
  11. Ideacrash

    Ideacrash Well-Known Member

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    What is the main driver to buy in these suburbs ? is this mainly because of the school zone ?
    How did you decide the school in the zones are good ?
     
  12. Gockie

    Gockie Life is good ☺️ Premium Member

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    The light rail goes to Parramatta, if it went into the city it would be useful but Parramatta isn't the city. So... no. Also if it joined to Epping station it would be useful (because you could then get to Mac Uni or Hornsby or Chatswood etc easier) but it's not going to do that either.
     
  13. Zenita

    Zenita Member

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    One of the main factors is cost, houses in these areas are still affordable compared to say Epping or St Ives. Another factor is transport; WPH is good in terms of public transport: M2 buses and Metro and it is also close to Beecroft station. Both schools are good, there are other schools which we know are at par with these schools for example : St Ives North, Epping West and Eastwood public. But the houses in these areas are beyond our reach at the moment. When consider multiple factors: 1) their trend over the last 10 years 2) culture mix 3) ICEA 4) proportion of rental vs owner occupied dwellings in the area - this gives us an idea of stability within the suburb.
     
  14. Zenita

    Zenita Member

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    Phase 2 of the light rail has plans for extension up to Olympic park.
     
  15. Gockie

    Gockie Life is good ☺️ Premium Member

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    How easy will it be to get to the city though, how frequent will those services be, and what will be the duration of a trip?

    We used to live in Dundas, people would either drive to Eastwood or get to Auburn to catch trains. Even though Dundas had a train station, the services were so crap it wasn't worth most peoples time to use it.
     
  16. Ideacrash

    Ideacrash Well-Known Member

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    Wont Baulkham hills provide more value for money and it has good schools as well .
     
  17. Zenita

    Zenita Member

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    We visited couple of houses in BH, and I didn't like them much. Firstly most of the houses in Matthew Pearce catchment are old, and they are overpriced at the moment. BH is also not that convenient transport wise. It is a big suburb and depending on which part of BH you live, you can be close to Norwest metro or M2 buses, not both of them. We visited this property https://www.realestate.com.au/property-house-nsw-baulkham+hills-139087555 yesterday, what do you think of it? RA is saying price guide is around $2mil.
     
  18. Gockie

    Gockie Life is good ☺️ Premium Member

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    Baulkham Hills High is selective only, so if you are local, don’t count on being able to attend that high school.
     
  19. Zenita

    Zenita Member

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    Only time will tell. I don't think it will be an easy commute and my guess is it will probably take more than 1 1/2 hour to city. Having said that, this line may suit those who work in Parramatta. I have seen few IT companies in Parramatta.
    Does Telopea have a bad reputation ?
     
  20. PropDir

    PropDir Well-Known Member Business Member

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    I would avoid Telopia - has a strong housing commission background.
     

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