Hi, There a new development in Schofields(2762) and I’m not sure if it’s a good decision to invest in an apartment around that area now. Can someone give their view on it please ? thanks
The area is good to live with Schofields’s train station as well as tallawong metro station nearby. But with the Schofields train station the parking facility is terrible. With the number of developments under construction, this could get worse. With Stanhope village rouse hill town centre & the ponds town centre, it is quite close to amenities . While I think house is a good option, not certain of the apartments . What price are they quoting ?
No way I would invest an apartment there when you can have a small house at Schofields for not much more. I have an IP there and it is a 3 bedroom house.
The amount of available land in that area and its oversupply will hamper any longer term growth. The determinant of growth in value will be what buyers are willing to pay for land. A supply / demand issue may cap prices or even push them down. There are huge un-released subdivisions and pressure on land developers to sell down and realise these. Some can wait but not all. There are even more unreleased apartment and high density homes not yet constructed but planned along the metro and Richmond Rd corridors and all the land in between. Sellers of completed dwellings will compete with new builds for years and years to come hampering them if forced to sell. If your acquisition is long term I would be patient. If the economy turns it will get worse
I think Schofields has already had a lot of growth so unless you are buying for the long term, there may be better options available. I also dont see it as an apartment type area at present, but more a house on some land is more in keeping with what people want.
Look at the neighbouring suburb - Qaukers hill. If you keep an eye, you might get something good around 750-850k with the land component
