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Sydney- Marsden park, Riverstone, Box hill

Discussion in 'General Property Chat' started by ms420, 23rd Jul, 2016.

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  1. ms420

    ms420 Active Member

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    Did a survey of areas around Marsden park, Riverstone, Box hill. I was amazed at the amount of land sales there... Prices are through the roof for areas that are years away from becoming family friendly suburbs (schools etc) but prices are almost similar to Kellyville.

    Anyone invested or thinking of investing there- please share your thoughts. Thanks.
     
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  2. bob shovel

    bob shovel Well-Known Member

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    Nathan birch had bought a heap in rivo to sell to clients. Did early deals with developers early on according to a recent social media post
     
  3. standtall

    standtall Well-Known Member

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    With Ponds and Kellyville going up in price, people have no option but to move further.

    Look at Stanhope Gardens - you might get Marsden Park prices but right on the Norwest rail line.
     
  4. JDP1

    JDP1 Well-Known Member

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    That, and that there are millions who think sydney (and perhaps mel)are the only two worthy places to invest in australia...irrespective of if its 50km undeveloped land like marsden park.
    Also...I suspect a lot of this is driven by new immigrants. Nothing wrong with that..they are usually in syd/mel and tjats most of what they would know being new...understandable. ..but not necessarily the best investment.
     
    Last edited: 24th Jul, 2016
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  5. Steven Ryan

    Steven Ryan Mortgage Broker Business Plus Member

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    My gut feel is those pockets will do well over time–lots of big retail (IKEA, Bunnings, Costco), infrastructure improvements along with big masterplanned developments which will grow a community.

    However, prices are a bit out of control in terms of value for money right now.
     
  6. JDP1

    JDP1 Well-Known Member

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    Agreed. Value for money isnt there right now..over time about 15 plus years, should be ok
     
  7. Tekoz

    Tekoz Well-Known Member

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    Which means that it will always goes up due to the more shops opening and people buying in that area (pushed out of the city).

    I reckon it is a good place to buy or invest if tmthe money is right to your pocket.
     
  8. larrylarry

    larrylarry Well-Known Member

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    I think understanding immigrants' mindset is important. Some perceived rent as dead money and getting a property to live in while it may be overpriced, time will cure (price growth). They just want to secure a place as son as possible to start living... Security, a place they can call home... I think these areas are largely driven by OOs. I thought my friends who bought in Kellyville 15 years ago crazy (distance and convenience) but they are now sitting happy.
     
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  9. Sashatheman

    Sashatheman Well-Known Member

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    Marsden Park is seeing a lot of new businesses (Ikea, Cosco, Home hub, Bunnings, Masters and there is heavy investment in infrastructure around that area ie road widening on Richmond rd.
    I agree the prices for new houses there are ridiculous, but so is everywhere else in Sydney.
     
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  10. standtall

    standtall Well-Known Member

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    You can always use a 'coupon code' to bring the prices down. I do it with pizza orders all the time :)
     
  11. Sashatheman

    Sashatheman Well-Known Member

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    I am holding out for the buy one get one free offer.
     
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  12. Tekoz

    Tekoz Well-Known Member

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    not possible in Sydney housing here mate o_O, there is no way the price in this area going down unless... it is high crime rates like in some areas in Sydney (Greenacre, Punchbowl, Lakemba and Bankstown).

    They are still cheap for some reason....
     
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  13. wombat777

    wombat777 Well-Known Member Premium Member

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  14. BCR

    BCR Well-Known Member

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    My parents are out in Kellyville ridge, built on 900m2 corner block was $330k land and $480k build back in 07' now worth comfortably $1.6m. Parents were concerned of being over capitalised at the time on the build however now has come through favourably as one of the better blocks & houses in the area. Agents always staying in touch etc.

    I have watched Rouse hill develop from almost nothing over the years, as well as seeing Box Hill, Riverstone and now Vineyard all getting on board. I recall at times when Stanhope Gardens were doing land releases people were lining up outside REA's from 4am to try to get first dibs on land... It was crazy and this was GFC recovery time.

    Still think the fundamentals need to be adhered to, best street, block and property with a little bit of flair vs the very generic stuff you see here. There is a high split of OO's here and the majority of properties are maintained well with good street appeal.

    My brother purchased a basic H&L at Schofields/The Ponds (4/2/2) in 2014 for $740k reval'd about 14 months after purchase for $830k.

    Back in 2012 there was 10.2% population increase for Kellyville Ridge- and being here at the time it felt that way way, people moved onto The Ponds/Schofields next - a new WW went up pretty quickly etc and before you know it people moved onto the next suburb..
     
  15. standtall

    standtall Well-Known Member

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    If this was in The Ponds, they will be looking at well over $2 million.
    Kellyville Ridge and Stanhope Garden are way underpriced/under appreciated for some reason. May be it's the prison in Stanhope Garden or lack of parks/amenities other than those in the nearby The Ponds or the older house stock.

    If anyone's considering The Ponds, you want to buy in the area highlighted in the attached file. Basically, around the lake, The Ponds School and The Ponds shopping centre area. However, you will be looking at $300-400K premium for good streets versus if you buy same block/build on the western side of the creek or in Kellyville Ridge.
    Snip20161003_3.png
     
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