NSW St George Area Recommendations

Hi all,

We’re currently looking at purchasing in the St George area for a first PPOR. Our budget is $1.7million and we’re focusing around Peakhurst/Mortdale/Penshurst. This property recently caught my eye with a price guide of $1.4million. With recent sales in these areas do you think this is just going to go well out of our budget? The open house seemed pretty quiet over the weekend…

https://m.realestate.com.au/property-house-nsw-peakhurst-137887930

 

I actually grew up in Mortdale (lived there for 20 years) and worked in the St George area for many years in real estate - I know the area really well. It's a tightly held market especially around Peakhurst, Penshurst and Mortdale - people buy there and never want to leave. A great place to live in my opinion.

I would not be relying on any 'price guide' especially in today's markets. You should probably add 10% - 20% on top of the guide for a realistic expectation. The guide is there to generate as much interest as possible on the property and I usually find the actual reserve is at least 10% above that.

To answer your question, I believe you have a good chance at securing this property within your budget.

Wattle St is quite a thoroughfare between Boundary Rd to Forest Rd, so you'll get a fair amount of traffic flowing through here which will turn some buyers away. I suggest going there in the afternoon on a weekday around 3-4pm and checking it out. Plus the block has been subdivided at some stage and there's a villa complex next door, so this should hopefully reduce some of the competition for you come auction day.

Good luck with it all

 

I actually bought for a client in Peakhurst two weeks ago. I love the St George area, and you are on the right track - best value in Sydney right now IMHO.

Mortdale is a really fantastic spot in that particular patch and Oatley is on fire.

This property you have linked to would ordinarily go much closer to your $1.7m level. But the layout is a bit funky and the pool dominates the yard, which may prove to be a negative. You are hunting in the right patch though, and it is a nice house. Good luck.

 

Did you end up buying the place? I see it ended up selling for $1.58M which was within your budget