NSW Sydney Property Hype 2018

Auction at 32 Robert Street, East Willoughby - last sold in July 2014 for $1.73M, similar condition sold yesterday for $2.7M.

This was $200K above reserve.

 

These stats explain what will happen next in property - SmartCompany

What no correction and market is stabalizing -wow

 

Wow I didn't know that even though I literally drive past the Brick Pit everyday!

I was wondering where the Waste Processing area is, guess I wasn't in the area early enough to see the suburb evolves. Thanks for sharing!

Thornleigh is definitely a nice suburb to live in now though - so too is Westleigh. Almost bought a place at Westleigh back in 2015...if only the strata wasn't that ridiculously high!

 

I think Carlo has nice big blocks and quiet streets where there's potential for knockdown rebuild. Add in the pimary schools
and proximity to eastwood and epping and you've got a large group of new chinese migrants buying up. Wouldn't live there personally though.

 

Once we are past the boom, people will start seeing issues with Carlingford.

• Almost 1/3rd of the houses are within 100m of transmission powerlines
• Other than parts closer to M2, rest of the suburb is a public transport blackspot
• Most of the suburb consists of old 3 bedroom houses force converted into 4 bedroom houses
• Little neighbourhood infrastructure such as parks etc.

 

I used to live there. The things I disliked:
If you wanted to drive anywhere on the East of Epping you have to cross the bridge over the rail line at Epping and that can be surprisingly bad at the end of Carlingford Road. I think it's less bad than how it was before the M2 opened, but it's not brilliant. End of Epping Road (from about Epping Boys to the station) also gets a lot of traffic in afternoon/evening peak hours so you get stuck in traffic jams.
We lived near the M2 bus (Oakes Rd) so that was good - fast trip onto the city, (it can fly like 25 minutes). But you could get very slow trips out with traffic (may have now improved with the dedicated bus lane). The bad thing about the Oakes road bus stop - when they introduced the service it was so popular and you could not get on a bus - and the drivers weren't allowed to have standing passengers (nuts!) Also some of Carlingford is near high voltage overhead powerlines as @standtall says. We weren't near them (at least, we couldn't see them) but you do get some homes with the overhead power towers in their yards. (Would be extremely hard to sell those)

The good about Carlingford: Leafy green suburb, people are good, parents are happy. (East) Epping is that much better though because of the transport and the fact I don't get stuck in traffic jams.

A Chinese colleague of mine (now living in Jordan Springs) was very impressed by Carlingford though because he knew the reputation of the schools.

 

Hello experts- Any views on North Rocks ?!

My wife works in St Leanords and myself around Parramatta/Westmead and we are aiming to buy PPOR somewhere that is easy to get to without stuck in traffic jam or have good public transport and good childcare, primart and high schools as we got 2 years old baby boy.

Carlingford, cherrybrook , beecroft all are quite expensive.
Many people at my work comes from WPH and north rocks.

 

It's like Carlingford but a little further west, (closer to North Parramatta) doesn't have the high schools with the same reputation as Carlingford, backs onto Lake Parramatta (which I really quite like), has a nice smallish shopping centre (including Aldi!). I quite like it as a suburb.

 

I drove past North Rocks almost everyday in last couple of years - at least from Church St via North Rocks Road all the way to Oakes Rd. This is the best part of the drive - a pure residential area and houses & streets are neat and tidy. Can see they're being looked after so it's got that nice suburb feeling. Also am seeing mum pushing prams or people coming out for a walk/jog around 6pm (during spring/summer) so I think it's a very family oriented suburb to live in.

Very easy to get to Parramatta but not sure about getting to St Leonards. Also public transport options seem to be limited to buses though.

 

Speaking to a friend about Nth Rocks and his neighbours just sold for $1.1 which the whole street was surprise s by, all thought it would go 1.3 to 1.4

Nice area and good street getting to the city can suck but so does most places in outer Sydney.

 

Thanks guys.

We will be going for a drive to get the feel of the area. I guess ti gi to St Leanords or cury be easier in own car via M2 but wikk check it out.

I guess million+ is a norm in all hills area ir surroundings.

@Something_Wrong Do you know the street?

 

I'm not a fan of driving, though if its off peak it's ok. Otherwise you should be able to get to St Leonards with the M2 bus by getting off at Lane Cove and changing to a government bus going via the Pacific Highway.

Before the M2 and Epping - Chatswood train link existed, I went to uni at St Leonards. I used to drive to Macquarie Centre (this was also before the timed paid parking gates at the shopping centre), park my car there, catch any bus service going past Lane Cove, and if the bus was down the freeway to the city then i'd transfer buses.
In any case, imo the M2 bus services are very good. Fast and regular.
With the Epping - Chatswood train line temporarily closing again soon, there maybe more people deciding to get onto those buses, particularly at Oakes Rd.

Re: local house prices: Generally not less than 1.2mill would be the norm in Carlingford and North Rocks and the Hills District in general. So to see a price for a normal house (ie. good land and the house is sound) go for less could mean a very good buy for someone. It's very uncommon to see.

 

Good old days without the timed parking aye.

Thanks @Gockie for the information. Few things to consider as Mrs work be from 8am to 430pm so traffic can be an issue. Not sure when thenew line will be opening tgat may create some ease but few suburbs be sharing some stations so parking at station can be an issue :- Station targeting suburbs

• Chatswood-Chatswood (West)
• North Ryde-North Ryde
• Macquarie Park-Macquarie Park
• Macquarie University-Macquarie Centre, Macquarie University, Marsfield
• Epping-Epping, North Epping, Marsfield, Carlingford
• Cherrybrook-Cherrybrook, Koala Park, West Pennant Hills, Dural
• Castle Hill-Castle Hill, Castle Towers, Baulkham Hills
• Showground-Showground, Glenhaven, Dural, Baulkham Hills
• Norwest-Norwest Business Park, Seven Hills
• Bella Vista-Bella Vista, Glenwood, Kings Langley
• Kellyville-Kellyville, Stanhope Gardens, Beaumont Hills
• Rouse Hill-Rouse Hill, Rouse Hill Town Centre, Box Hill, Vineyard, Riverstone
• Cudgegong Road-The Ponds

You are spot in in relation to property prices and I even came across properties that are around 1.2 mil mark but land is very small with old building e.g.25A Waterloo Road, North Epping NSW 2121

 

I think people need to get used to this sort of news now. 2018 has been a horrible year to all M2 suburbs including North Rocks which is noway a 1.3-14mil suburb in today's market.

• West Pennant Hill is now a 1.4mil suburb (well located houses only, good luck selling powerline affected houses that people paid good money for in 2015-17). $300k decline in average property values so far this year.
• Castle Hill is now a 1.3ish suburb (and only the good pockets)
• Beecroft is now under 1.5 mil suburb (median sale price in 2018 has been 1.46 mil with just 9 houses sold in 4 months compared to over 200 last year)
• Kellyville, Baulkham Hills, Rouse Hill, The Ponds are now under a million for standard houses, only newer builds in Kellyville/The Ponds are getting 1.2+ mainly from people who like to live in brand new homes.

Sale inventory up 37% in April and lending worst since GFC - I would think above prices will easily tumble another 10% or so.

 

Still getting good money for WPH properties.

15 Lynton Green, West Pennant Hills, NSW 2125 - Property Details

But yes, everywhere in Sydney is likely to come off a little. Its inevitable at the end of such a boom run... and the FOMO is gone. Buyers can be patient and they can be as picky as they like, now . That being said, well renovated, immaculately presented homes will continue to attract buyers. Its the B class stock where money needs to be spent to update, which used to get A class prices ,which is going to have the tougher time now.

The property we bought in WPH mid last year was on for 2.7+... then they reduced to 2.42+ after a lack of action. We got it for 2.2. Just had it revalued at 2.8 - 2.9 by 3 different bank valuers , but we dropped several hundred K into a comprehensive top to toe reno. So all in all the reno has generated an improvement to the value but not exactly huge. Not that we are planning to sell, but it does highlight that the A grade, renovated nothing more to spend , kind of stock is holding its value very well.

Cherrybrook Station will open late 2019 and that will give the area a bit of a shot in the arm as well..

I suspect that all over Sydney, picky buyers will increasingly only pay top $$$ for A grade stock or development potential. If you are talking 20-30 year PPOR's though... does any of this really matter?

 

A grade will always sell better than B grade no matter what market conditions or suburb. However, price decline happens across all properties. There are still houses selling for around 2 mil (although just 3-4 such sales this year) but they have also come down from much higher prices last year.

In this market, $2 million budget gives people a good shot at Pymble, Epping or even Beecroft AA grade property which is always going to have a better value than West Penno due to train station and Cheltenham girls catchment.

I have nothing against West Pennant Hill and I am sure you bought well for what you paid but a lot of silly purchases were made in West Pennant Hills in last 3 years and prices are already down on average by a third of a million with very little sale volume.

 

We originally started looking around North Rocks but ended up in Telopea (Good Side) then sold there and are now living at Melrose Park. Its great for Public Transport (Close enough but not to close) and easy to get to Parramatta or the city.

On weekends it pays dividends as the parks and water are walking distance and there is good primary schools and the local high school is getting better each year from the reports of parents.

Prices are around the 1.1m to $1.5 for blocks from 545sqm to 660sqm, they will need so work but very liveable.

 

Here it is my friend live a couple of door away, nice street and he has great neighbours.

12 Paragon Drive, North Rocks, NSW 2151 - Property Details

 

I heard in the last couple of weeks that the Institute/School for Deaf & Blind are selling their large property off for redevelopment, I think it has been sold but they are not moving out for a couple of years. It is across the road from the shopping centre and is a huge site from memory.

OK maybe not yet sold?

Charity's 13-hectare North Rocks site in Sydney to sell for $200 million

 

$2 Million might give people a good shot at older 3 or 4 bedders in those areas.... but not much of a shot for larger 5 or 6 bed homes.


Houses For Sale between $0 and $2,000,000 in Pymble, NSW 2073 (Page 2) - realestate.com.au

Houses For Sale between $0 and $2,000,000 in Beecroft, NSW 2119 (Page 1) - realestate.com.au

Houses For Sale between $0 and $2,000,000 in Epping, NSW 2121 (Page 1) - realestate.com.au



But yes, there was some crazy money flying around here and other parts of Sydney- I agree. And yes it will come off a bit - I Agree

But if you have purchased for 20 + year PPOR timeframe, hardly matters....