NSW Strong interest as new The Ponds lots to go under the hammer

Discussion in 'Where to Buy' started by standtall, 9th Aug, 2017.

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  1. AAA2214

    AAA2214 Well-Known Member

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    Or buy in an established suburb like Quakers hill where you still get house and big block under 1M :)
     
  2. ej89

    ej89 Well-Known Member

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    The Ponds is a premium suburb. Got named most advantaged suburb in Australia. Everyone I know who owns in there are either doctors or other high income workers. You wont find anyone who lives there and works in city. They all work in surrounding suburbs. Its got the school catchment and where these new lots are there's a new lake so some of these lots will face that.. there will def be some quick sales when rates go up but like I said, everyone I know who owns in there is a doctor, a solicitor or in other high paying jobs.. including my family haha would I buy there now? Hell no. I think the more the ponds goes up the more marsden park and box hill and all the surrounding suburbs go up too
     
  3. Cimbom

    Cimbom Well-Known Member

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    I get that it's the "going rate". It doesn't make it less ridiculous though. It's just based on hype and everyone thinking that it's some get rich quick scheme until it's not.

    It's just some non-descript suburb that is so far from what you think of when you think of Sydney that it could really be anywhere in Australia. I would rather live pretty much anywhere else in the country and pocket the difference.
     
  4. eletronic_exp0430

    eletronic_exp0430 Well-Known Member

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    I don't think there is a single investor buying in The Ponds. The price point and the numbers just don't add up. Its all Owner Occupiers buying there.
     
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  5. Cimbom

    Cimbom Well-Known Member

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    Lol you sound like my relatives who live in similar areas in Melbourne.

    According to the latest SEIFA Census data, the most socio-economically advantaged area in Sydney is actually Paddington
     
  6. Loverenting

    Loverenting Well-Known Member

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    I know one who owns and lives there, and works for an energy retailer in Sydney CBD; although he bought before the prices went crazy.
     
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  7. fols

    fols Well-Known Member

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    I live 9km from Sydney CBD. My rates notice says my land value is $1.1m. Ponds for $1m? Yeah nah.
     
  8. fols

    fols Well-Known Member

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    Guy from work lives there. Busts his ass everyday getting train to North Sydney and back. He ain't no doctor. Just another stuck on the treadmill / keeping up with the Jones' kinda dude. Crazy.
     
  9. Gockie

    Gockie Life is good ☺️ Premium Member

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  10. ej89

    ej89 Well-Known Member

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    There's no direct correlation between busting ass and low income or struggling with mortgage repayments but if he is I reckon he's part of the 5% in there that are every day people who will struggle when rates rise
     
  11. ej89

    ej89 Well-Known Member

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    Lol your rates notice means jack all. My land value is 580k in the ponds and rates notice is 280k
     
  12. ej89

    ej89 Well-Known Member

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    10 lots all auctioned today. Over 55 registered bidders. Cheapest sold was 308sqm for I think 570k. 9/10 were owner occupiers. The other wasn't sure..oh and the price excluded GST for some reason.. council sold the land off. Unsure what the go is. I'm cheering as a land owner there lol if I can get a mil for my small home i'm flicking it off. Finished product 635k. Recent sales say should get close to a mil. If I do thats 365k growth in 2 years. Bought well
     
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  13. fols

    fols Well-Known Member

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    Awesome. So based on that theory I'll just just sit back and quote my land value at $2.2m. Either way I'm happy here so horses for courses.
     
  14. ej89

    ej89 Well-Known Member

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    Quote what you want mate but bank vals do the talking when investing not your rates notice...good troll though
     
  15. beachgurl

    beachgurl Well-Known Member

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    I just got a val back for a 4 bed single level house in The Ponds. 1.1mil. Was 50k higher than RP Data value. So no brakes on in there yet.
     
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  16. Tattler

    Tattler Well-Known Member

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    The whole Northwest area is now upgrader suburbs areas. So only people who already have property would be able to trade up to the Ponds area.

    Seriously I think people should stop thinking The Ponds is too expensive, especially seeing how much apartments costs in Sydney these days. At least it is a house .....
     
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  17. Gockie

    Gockie Life is good ☺️ Premium Member

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    FHB try to buy a townhouse or duplex in Parramatta area because while they'd like to buy in the suburbs accessible to the Northern train line for the High schools, the homes are too expensive for the budget. So then if that doesn't work, then I can see they consider Quakers Hill, Doonside....

    I think entry level buyers looking for something bigger than an apartment then follow the train line till they hit a place that's affordable and feels nice...
     
  18. eletronic_exp0430

    eletronic_exp0430 Well-Known Member

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    Soon nothing in Sydney is going to be affordable in any suburb up to Penrith. Once those sub $700k suburbs get the influx of FHB that will ultimately drive prices up in the lower costing suburbs. Even though they are farther out when you have kids, dog and dont like to be cramped up living in a 70sqm unit and your on average income well these sub $700k suburbs are your only option left.

    Even at 90% LVR for owner occupier how does someone with 2 kids, rent, food, bills, car, insurance save up $70k on average incomes? Damn - living in Sydney is hard.
     
  19. Sackie

    Sackie Well-Known Member

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    Giddy up horsey, giddy up. I'm loving where markets are heading.
     
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  20. AAA2214

    AAA2214 Well-Known Member

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    I was in the same boat. Didn't want to buy a unit in Parramatta with those high Strata( or low strata) and was looking for a house with big block and ended up buying in Quakers Hill. Its on the train line and good suburb.
     

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