NSW Sydney Property Hype 2018

Are you local to Ponds? Do you know if anything is wrong with 7 pebble cres that caused big drop in asking price? From RP data, one next door 3-2-2 sold last year for $880k few months ago.

 

5 Pebble has a nicer facade and in general is presented better with a more neutral coloured kitchen.. living space are same dimensions but location of space is different. 5 has better space for couches and tv whereas other one is squashed. Im surprised someone paid 880k for that though.. they could’ve got a detached duplex (house on a subdivided block at 250sqm) for 850k which would have been bigger.. theres a lot of oldies that love the single storeys though. More margin in that.

 

So you think an even smaller duplex bordering Stanhope and away from shops, schools, buses is a better value than a freestanding house at central location?

My understanding is that the area around The ponds shopping center and the lake is considered most premium. Parts of the suburb specially those bordering Stanhope road or basically on the Schofield side of the creek are much less desirable due to no public transport, frequent break ins, smaller unmarked roads with recent history of pedestrians getting injured plus extremely overcrowded schools as a result of poor planning. On the other hand, there’s now a premium for John Palmer catchment as it’s better ranked school and not crowded. The new primary school near Ponds high school now has 1300 kids enrolled and many parents fake catchments to get their kids into John Palmer.

By the way, I checked with the agent again and asking price for number 7 is 920k and not 820k. Someone made a mistake at their office and kept quoting wrong price to phone queries.

 

One of my colleague is interested in The Ponds area so we were looking at some properties and not many under the $1 million mark but found this if anyone interested:-

3 Furber Street, The Ponds

 

It came down to 2 very interested bidding parties that battled from 1.5 all the way to 1.73 - in increments of 1K-5K. I could see the owner grinning her face off through the master bedroom window.
For Anthony Rd one - my only guess is maybe its close to train station ? Or maybe catchment to Denistone East primary school (which is in demand). The room sizes are fairly decent but the bathrooms are old. The 'double' garage can only really fit one car. The land slants down, it is on the down side/inferior side of the street.
I didn't see the Falconer St one in person - I'm guessing its location isn't as good. There was another 10 Vivyan Cl which has one more bedroom and better layout on same day - $1.45.

I think it was overpriced, for $1.5 now there had been a few in beecroft close to station and even epping in recent times

 

Why dont they look at Quakers hill especially the area bordering the ponds? You get 500+ block with decent condition home(not the shiny ones) for around 750-950k. Just 500m to 1KM away from the POnds

 

i grew up in Thornleigh. lovely suburb. I think the tip next to penno road has been converted to a golf driving range hasnt it?

 

I just told him what you have mentioned and he is looking on RE now

 

cool. Take a look at this for example. Just 1 street away from Ponds. 550 Sqms block and renovated.

86 Barnier Drive Quakers Hill NSW 2763 - House for Sale #127985758 - realestate.com.au

 

You talking about the one that also has a mini golf course? if so, I've taken the kids there a few times, really nice place. Didn't know it used to be a tip.

 

It was a brick pit.

 

only until the 70's then it was a tip. i have fond memories of me and the old man loading up the trailer with rubbish and heading down there to dump it.

 

http://www.wadecivilengineering.com.au/testimonials/

bottom testimonial - "Wade Civil Engineering was engaged as the principal contractor for the civil works on the Brickpit Park Project. The site included a number of significant construction challenges as the main part of the works was over an old tip site''

i guess i'm not selling Thornleigh very well am I? hahaha. it's an awesome suburb to grow up in.

there's a waste depot down Sefton Rd which is a bit industrial down there, but there are some really nice streets behind thornleigh west public and oakleigh oval which is where i grew up - closer to the station.

 

Nice semi small block. Vs larger block older free-standing.

No real right answers.

Younger generation preffer nicer newer homes on smaller blocks.(not every young person....)

 

Also the difference is an established suburb vs a newer suburb. I feel in an established suburb

• there is scope for value add potential
• no paid profits for the builders
• price fluctuation is less
• perform much better in a slower market when compared to a new suburb.

 

Considering the duplexes being built are about 0-12 months old and 70sqm bigger than that tiny home, I’d take them over that extremely small Pebble cres home. I got pebble crescent mixed with Mallard drive on the other side of Stanhope Parkway that has almost identical tiny houses..no.7 is nuts if he thinks he’ll get 920. If he does there’s been no correction at all haha

Close to shops is premium, but Pebble crescent is much older. Oldest part of suburb.
The park closer to the ponds high school is now known to everyone as the new part of The Ponds. Newer school, newer homes and newer parks.. the streets are same width all over the ponds. Have to stay consistent..People prefer the new section as it’s closer to the 4 schools on Hambledon rd.. Break ins are actually less frequent on this side. Join the community watch and you’ll know the break ins are more frequent in the houses closer to the lake (streets behind) and moving towards Stanhope Parkway. Pros and cons to both.. i’d take a new house and drive 1 min to shops vs 8 yr old house and walk to shops..
Catchment to The Ponds high and primary have driven prices up even more. Demand in suburb will always be good when half the school is made up of the kids of highly educated Indians and Asians who have a strong work ethic when it comes to studying..

 

The area you are talking about is the cheaper part of The Ponds. There must be a reason people are paying more money for 7-8 year older houses and it's called location.

What evidence do you have of 'correction' in The Ponds? Can you show me any recent houses that might have sold at prices lesser than you would have expected last year?

 

Older parts land is way bigger than newer part that’s why they should always sell more but if you find me two identical houses, one 8 yrs old on 320sqm and one brand new in new part of The Pondss on 320sqm, the new will always go for a lot more unless the old is on the lake. Find me an older house on 320sqm that sold for 973 like there has in the newer part multiple times lol

34 Govetts Street, The Ponds, NSW 2769 - Property Details

New gets premium. That’s all it comes down to in The Ponds..

I live in The Ponds.. there has been a slowdown for sure, but not like surrounding suburbs.. Marsden Park and Kellyville are as cold as ice atm. Top end has come down 50k. The real top end has come back a bit and the duplex oversupply has popped up too in The Ponds so the crappier ones are struggling a bit..everything else in between has slowed a little bit. Theres still plenty of sales, there’s just more options for buyers now.. albeit I think most of the options are pretty poo atm.. My house is going up for sale in a few weeks.. if I dont sell it becomes a health clinic haha

 

Is it just me or has the arse fallen out of north ryde house market?

I was looking there a year ago, offered 1.2m for 1 Wilson Street.

Ended up selling at auction with one bidder for 1.45

1 Wilson Street, North Ryde, NSW 2113 - Property Details

Corner block, easement for water supply on one side, sewer main or the other, corner block, sloping site, severely affected an restricted but I had some funky ideas for the site if I got it cheap.

3 Spooner, faces epping road, weather board, smallish block but nicely done inside, sold for 1.7

3 Spooner Place, North Ryde, NSW 2113 - Property Details

After going to that auction I decided there was better value elsewhere and started looking at pockets like West Pymble and Lane Cove.

1 year on, I check north ryde out of curiosity and everything has a price on it. 1.35-1.45 for clean block knock downs.

Also seeing some good deals in St Ives and upper north shore in the low 2's now.

 

I can't see too many houses in north ryde with clean blocks for $1.35m? Have you got a current example or found anything yet in lane cove or pymble yet either?