NSW Run for the Hills?

In time better roads will be sorted out. Just be wary of smaller estates isolated from the others, particularly if low-lying. It takes a long time for the greenfield areas to fill out with completed estates and a good network of road. Parts of kellyville had very bad roads and a patchwork of small estates when it was first developed.

 

@sash you know that JohnHenry and Tekoz are the same person right? Haha

JohnHenry/Tekoz, if you wanna buy in Sydney and have done your own research and believe there will be growth then bite the bullet and put your money where your mouth is. If you make a mistake then deal with it but dont ask the same questions over and over and over and over again when people have answered you.. I'm sure people here have been successful in areas theyve been told not to touch but have also probably made mistakes in otther areas theyve been told not to go to. Go with whatever you're comfortable with and allows you to sleep at night..

 

You put an offer of 495k and are shocked people pay 500k for a 2 bedder when you tried buying a 900k apartment last week...know your direction and what you want. Meet up with investors. Go to educational forums and seminars..read books.. Established a strategy.. Rixter can probably help you

 

Yes don't know which one forgot to take his meds...but yes...multiple personalty syndrome/

 

No. The Ponds is what Kellyville was 10 years ago. Flat and hype of new housing and close to Rouse Hill. High income, a lot of second home buyers.

A close friend bought a 395 sqm block of land in late 2013 for 400K, now the same land sells for 600K. His 30 sq home was valued at 710K at completion, RE agent said that he could get around 850K if he wanted to sell.

More land releases are coming up in the areas, Gable box. http://www.thegablesboxhill.com.au/location

Another friend built a 35 sq home on 575 sqm block in the same area in 2010. Total cost was around 550K. Valued at 950K in January 2015 .

 

Ahh...but is your shoebox "in the middle o' the road" like mine is?

"Wee add it toof"

 

Most of the people buying into the gables are gonna try to re-sell. Agent was saying up to 75% of land is gonna be re-sold

 

Disclaimer. We do some of the Design Review work for The Ponds.

Mosy buyers are not investors. They are buying their dream home in a friendly community. Proximity to a major temple is also a deciding factor as a decent percentage are of Indian background.

Viewing it in a purely investor level doesn't actually reflect the demographics and aims of most purchasers in The Ponds.

 

No No.. Th Ponds is not Breakfast Point - water views. No views at all. It is an outer suburb of Sydney, at least 15 minutes to Blacktown at peak times or more. Clogged roads and new land releases till Windsor. All that land will be made available for sale before next boom. AS Monalisa said DD is required as overall Sydney is coming Off peak. Reread the posts who has made it including Monalisa and Sash.

 

Probably stating the obvious here, but Tekoz / JH has to be a troll. Writing style and story is constantly inconsistent and always on the verge of a deal that they've been warned against.

I'll give them some credit for having stuck at it though. Best advice? Ignore.

 

The ponds will present opportunities In 2017-2018.
I think the prices is ridiculous. Fair value should be in 700 for a house not millions.... Sigh

 

What do you base fair value off mate?
What you're saying is that the pricing will be as if the place never boomed..... I don't think so lol there may be occasional sales that low but the place was pretty much built out when there were higher interest rates 2-3 yrs ago so unless you suddenly get rates to 6.5-7% I can't see why people would default.. What's the catalyst for these opportunities? I think the catalyst will be rate rises and they will affect all of Sydney not just NW..

 

@WinDyz. & @ej89 Only the banks can know and predict which suburbs will likely to crash or become the mortgage stress. normal people like us don't have the secret information.

For example, NAB won't disclose their red light suburbs in terms of Debt serviceability risk.

 

I may be wrong. But 1 millions AUD for 350-400 sqm house that's 55-60km away from Sydney CBD........
I see that's over price. You can get an older house with much bigger land in baulkham hills for the same price ...

 

It's 40km from CBD. It's 5 mins from Norwest business park where a lot of the residents work. It's right next to imo the nicest shopping centre in Sydney (Rouse Hill), is between 3 business parks in Box Hill, Norwest and Marsden Park. It has 3 fantastic schools and has a shopping centre and a lake as well as a new train that gets em into the city in 40 mins in 2019 (train runs through much more expensive suburbs) and a new hospital (yet to be announced)... The people buying there would rather a nice house on small land compared to an old house on big land.. Times are changing.. You're looking at it as an investor, but sometimes it's best to look at it purely as an owner occupier.. There's less than 5% first home buyers.. People look at overall content when buying a house to live in not just land content..the convenience of having all those things within 2 mins of your suburb and a nice family feel are all factored into the price

P.s I think its overpriced, but I also think all of Sydney is overpriced.. There will be opportunities everywhere but that $1m house in baulkham hills is as susceptible to a correction as a $1m house in The Ponds..

 

Great post @ej89 - particularly this part:

( although 5 minutes to Norwest Business Park is a little optimistic )

 

Haha I drive fast

 

@WinDyz. Yes it is over price if the road is flood prone during the heavy rain like in Riverstone and some Schofields area. Other than that it is the normal market price for a new estate.

 

Hey dude, I agree, but so you can broaden your areas of disdain, many people have been telling me what they have been paying in Syd South West (far south west IMO) and it is more than 1500 sq m, , I reckon some pain coming for them and 2 bed OTP buyers somewhere down the track if they are up to the eyeballs... Many of these people honestly believe this growth is the "normal" thing, they have told me to my face it can never ever go down.

 

I feel units in Castle Hill...Cherrybrook...Baulkham Hills...Rouse Hill bought now and settlement in 2-3 years time is full of risk

Does that help....