NSW Sydney Price Correction 2018 - post examples

PS would take IP or Home in Lidcombe any day over Lakemba...

 

39 Westmore Drive, West Pennant Hills, NSW 2125

High side of the street and no powerlines! WPH house for 1.175m. Is this a real bargain or am I missing something?

 

That’s about 100 metres from where I live. In the last few years knock down to rebuild house lots have sold for $1.5-$1.65 replaced with $800k plus custom homes. That seems less than land value.

 

I wonder if agents are back to under quoting games again...

 

Yes I'd put $1.4M on it.

 

Yes at the peak, I'd say $1.4m

 

It's right on the highway

 

Massive traffic noise - properties like this are best to be sold in the peak market.

It’s actaully quite a long walk to the oak road motorway buses due to no direct access plus powerlines aren’t that far away.

It probably would have gone for may be $100k more in the peak market.

Having said that, West Penno has been severly hit by downturn. Notoriously hard to sell B grade properties unless discounted generously.

See this one below - revised down 3 times and sitting on the market for over 8 months now.

181 Oratava Avenue, West Pennant Hills, NSW 2125

 

I agree. That's pretty overpriced for that area. You can buy a 2 bedder in a much nicer area in the eastern suburbs for that price range

 

And probably where the entry to North Connex is located. Not sure about the smoke stack though.

 

This one B grade because its on the low side of street and on a T junction?

 

Actually maybe $1.3. I confused that street with Valda St .

 

Too close to M2 .. M2 is higher up (15 meters higher than streets) so hard to hide the ugly concrete barriers view from backyard plus absolutely no way to block the massive noise from 6 lanes of 100km per hour traffic, a busy bus junction and future northconnex entry lanes. This land should never have been zoned low density residential, more suitable for commercial purposes or apartments with better noise/views control.

 

Worst property in the universe.
I’ve seen better land in Syria
Most dangerous, noisy and putrid place ever. Makes Mt Druitt look like a paradise.
Guys keep talking it down. I’m a buyer at 1.1 for a knockdown and build a duplex. Should sell each for about $1.65.

 

Yes.

 

Good luck with that .. if it was that easy, entire west Penno/Cherrybrook pocket would have already been filled with duplexes.

 

Looking At your comments, You obviously don’t know the area.
1. Your comparison Oratava Ave is power lines affected and worth about $1.2.
2. Can you find a parcel of land in WPH suitable for a duplex that sold for $1.1m.
3 look at what westmore comparables have sold for recently.
4 North of Castle Hill Road is not comparable to The Valley south.
5 there is no noise or eyesore visible from 39 Westmore
6 the cheapest houses in WPH are nearer the Oakes M2 bus station not further from the bus

It’s all very well to be a Google Warrior, but facts are facts. I say that Westmore will sell above the advertised price and certainly above my bargain valuation of $1,1m

 

It last sold for $1.36m in 2015.

There are not many duplexes in West Penno due to zoning restrictions. Minimum subdivision is $500sqm.

Most comparable would be 49 westmore which sold for $1.3 in Jan this year. Somewhat better condition.

Cheaper because of noise and ugly M2 view. This house is further only by street access but closer to Oaks M2 station as the crow flies.

I am not sure what you are trying to prove but if you really think this house can be demolished to make way for two $1.65million each dwellings, you are the one who doesn't know anything about the area.

 

Attended auction for https://www.realestate.com.au/property/16-fairway-cl-moorebank-nsw-2170 yesterday.

Slow bidding throughout, ended at 1.255mil. Still an expensive price for the area. In early 2017, properties like this would have gone for 1.35m. That's approx. 10% lower than peak. Probably cost 950K all up in 2010. so ~32% increase in 7 years.

 

Saw this one several months ago:
18 Brushwood Place Hornsby
18 Brushwood Place, Hornsby, NSW 2077

Never heard of this road, so looked it up on the map, and my immediate reaction was: gotta be kidding, 1.9m for something on the edge of the bush?

Just as I thought it failed to be sold.
But what amuses me is how out of touch with reality the owner is. His/Her thinking is probably along the lines of "look at this big block of land and the massive internal areas and all the renovation we've done, all for under 2m."

The reality is that the majority of buyers simply don't like a property so close to the bush with a large number of trees around it, a huge nuisance if you know how many branches/leaves can fall, not to mention the danger of a tree falling over the roof; and then there is the annoyance of pests etc. (Personally I'd never live in such a place even if it's free).

Another point is that the sight of "three bedrooms on the lower ground floor" is enough to turn away some prospective buyers (I'd never sleep in the lower ground floor, not good for health)

Hope is not a strategy when trying to sell a lemon like this.