NSW Watching the Druie Drop in Slow Motion (2018)

That was my point.

.

Show me one for $500k on the Northern Beaches & I'll be there in an instant.

 

I find most of it entertaining, especially the amount of should be savvy people who should know what is happening and how wound up some get over commentary.....

Why worry about an opposing view ? It does not materially change how your assets perform.

And many that think it is a good time to get in cannot be buying or selling, because you would know how much markets have changed, it is like denying that APRA took effective steps....you would have to be inactive to think not much has changed.

 

Mt Druitt is totally different to Tregear....Dharruk....Bidwell. The more appropriate comparison is places like Colyton and St Marys.

In hindsight you got out at an ideal time.....could you have made any more money if you held till mid last year?

I remember you also sold the Kingswood unit ...as it doubled....I think if 300k plus. This one is looking pretty cheap. and going to auction at 269k..must be the high strata for the region. If it goes for under 290k...it will set the tone.

20/15 Santley Crescent Kingswood NSW 2747 - Unit for Sale #127730338 - realestate.com.au

 

No chance...but you may see low sixes...but a 2 brm unit need work sold for 680k walk to beach...the supply is insane and affecting rentals. You would be luck to get 3.8% return. As far asm I am concerned in that market 4.5-5% return is a buy

 

Just look at it ...looks like they go it at the lower end.

This one was listed for 599-650k...the agent was cagey about revealing the price...but it sold between 610-620k. This would have gone for 650-680k last year.

8 Chilton Avenue Oakhurst NSW 2761 - House for Sale #127589854 - realestate.com.au

 

It certainly is.....my point is though, that traditionally on SS & PC, when most are talking about Mt Druitt, they are referring to the HC suburbs, not Old Mt Druitt, which is often still more expensive than both Colyton & St Marys due to the large block size and access to the rail.

Timing was pretty good with Tregear. The condition was worse than the Hebersham property I linked above. It had no garage, and although clean & tidy, with a fresh coat of paint, anyone who took a really good critical look at it would have noticed that the modern looking kitchen was in fact just a paint job over the 70's green laminate, and it had nasty wood paneling throughout, which we painted over as well. The floor boards, although lacquered, were not polished either. Although the paint job was good, it was really just smoke & mirrors on a property that needed a really good reno.

I think we could have got a bit more for the unit if we held on another year.....but that would have come at the cost of two CGT events in the one year, so I can't complain about that. Again, there was a lot of smoke & mirrors with that property. White Knight Tile paint brought the bathroom up a treat, but it was still an old bathroom in an old unit. Kitchen painted as well. The unit block was worse than the Santley Cres one AND it had a pool. Mine was on the top floor of a nasty stairwell that always stunk. There was graffiti on walls & strata never seemed to do anything either. Strata was over $800qtr

 

Consider yourself blessed with the Kingswood unit.....

 

Did you not get rid of 4 places in Sydney over the last 4 years...if so...it looks like a prudent decision! Prices are coming off quicker than predicted......

I have 1 on the market in Albury now...another planned post June in Maitland...hopefully that takes my land tax down to a more manageable 6k instead of 10.5k plus now!

Looking at what to sell in Melbourne/Geelong also.....though I plan to hold most....but will not have more than 8 down there either....too risky when the market turns. More time there....

 

Close.........Kingswood, Tregear, Lethbridge Park, Campbelltown, Ambarvale. We left SW Sydney to last, as there wasn't as much action early on, which proved to be the right move.

Good luck with Albury & Maitland.

 

It did what it was bought to do, so I'm happy. It was never going to be a long term hold.

 

Ta...wow...you would have killed it if you sold before June 2017.

That is 5 places...no wonder your coffers are overflowing.....did the banks allow you to re-use the loans. I am tryin' to do that mine now....some of them will allow me to use cash in a term deposit as security...but unfortunately...lots are also cracking down on this.....

 

Nah! Low LVR's, so paid down some & transferred security on others.

 

not sure its about getting wound up for some. i dont like how 'they' write with such certainty and get held in high regard and thus may influence newbies etc

 

Yes, I get that, but from where I stand they are words of caution, not words of....take huge risks and buy into markets that may be risky at this point in time. Oh, and give me money on top of that while I mislead for my own benefit.

If the banter is ignored and the basic warning considered, I think that it is correct and aligns with my experience, I am not aware of any motive or gain to be yay or nay.

 

Hi guys, whats your opinion on Blakett, Shavley and surrounding suburbs. I can still see properties for 500-550K on a decent size of land. I know the market is a bit tricky but do we see any long term prospect for these suburbs considering development around Marsden park and surroundings. I am planning to buy as investment....and never live there

 

may be a good idea but no hurries, don't think about doing that now.

 

Long term, yes, but buying in at the current price, NO.

 

Thanks both for your input, what do you expect the market to do over the next 12 months. Or Should I be even looking beyond 2019 to invest in Sydney again

 

Personally, I'd wait.

 

Did you read any of the thread....do you *really* want to know what some think ???