Thoughts on growth in Mount Druitt?

Stick to it and buy elsewhere as if you sell all the cost will wipe all your gains. Don't worry about the stigma as last 3 cycles Mt Druitt has doubled. Don't be surprised if it drops back to what you paid for it as per cycle there is a correction period then grows again. History repeats but always a little different as we can see now and as interest rates have dropped since 2016 with wages about the same prices could go up abit more in Sydney. Reason I say 2016 as that's when median price to income decoupled

 

Yeh the druieeeee

 

The Mt. Druitt was the joke in town 20 years ago.
The person who got the last laugh was the smart cookies who bought them up.
The snobs who pass those up lost out big time.

 

Yep! I've had some dramas with mine but have learnt some lessons for the area to abide by

 

@Mystyic33 Have a chat to @Hayley Cannon as some forum members use her PM services

 

I use @Hayley Cannon

 

Have made lots of money from Mt Druitt.

 

I started working in property in Mt Druitt in 2007, I have seen so many people make ridiculous amounts of money from what people were turning their nose up at!

Glad you are keeping it for the time being, hopefully for the long haul

 

Hi Hayley, what's the best way to get in touch with you?

 

Send her a PM.

 

for future.. there is no right or wrong time to sell

there are only alternatives

any time you genuinely believe you will profit more with an alternative property/investment/business opportunity is when you should sell.

of course, all numbers should be crunched after the fees of selling, and ideally post tax too.

So the correct answer for future you in this predicament is:

yes you should sell if you have found a better alternative, no you shouldn’t sell if you haven’t found that alternative

key operative word is actually finding the alternative before you sell. that’s how you constantly turn over your money for profit in life.. and never regret it.

a great example is a property losing money hand over fist, in a case like this even a 1% bank account might offer a better alternative. In another case you might not like druie and have determined that once you factor in your time and about 5% costs of selling and 5% costs of buying, another suburb has more upside to you.

 

For those on the ground, is now a pretty good time to sell in Mount Druitt?

My research suggests it is but using 2017 as a benchmark, are we at similar levels of hysteria and FOMO? And are prices surpassing those that would have been attained in 2017?

 

I've just sold another. More than I would have got previously.

 

OK I guess its time then

I've run out of excuses.

 

Just remember that I'm in retirement mode though. What works for me, might not work for you.

 

Do you reckon Druitt and surrounds still have money to be made?

 

Well aint you glad you decided to keep it.

Sydney real estate: Mt Druitt has become an unlikely boom suburb - realestate.com.au

You were thinking of making 2 of the biggest mistakes one could possibly do in Real Estate.

1) You bought in at peak
2) you werent patient enough that you wanted to sell back in Oct and that was when people just started coming back into the Real estate game before any of the boom statistics started showing up on any of the research websites. Hence not much data out there yet and how property was going to go bonkers right now. In saying that you always knew about the 1.5B refresh of the area + airport + St Marys major hub so no idea why you would sell.

Property is a long term investment medium for the majority of ppl. Buying in 2017 and selling in 2020. That is very very short term.

You were about to knife yourself with a double whammy.

 

I can see roof of my 2 properties in this link ! hope for better days to come !