NSW When to buy in Sydney again

Not 50%....but 20% is a reality....I notice that the Sydney dispora and some of the buyers agents have vested interest in talking up the market.

I do agree that the special properties are selling...but the normal and sub-standard stuff is being discounted ...in some instances ...200-250k off a $2m home (would have sold about 12 months ago) is being common.

Watch the Hills...Cherrybrook...Castlehill......Baulkham Hills...Kellyville. West Pennant Hills...Dural...and the new suburbs surrounding them..have overshot....watch the consequences there... stuff selling for 1.6m...are lucky to get 1.4m ...despite the good schools and transport link....that has all been priced in many time over.

 

You sound like me - we bought in WPH too thinking we'd be happier with a big backyard in the burbs. We weren't. In fact, we were miserable. Lasted 10 months. We then moved back to the East where we belong.

I kept the house and converted the freestanding garage into a granny to turn an obvious cashflow bleeder to neutral.

 

When to buy in Sydney? Amytime, including now. It's the only city in anz along with Mel. The rest are behind and will take time to catch up.

 

Good stuff... what is demand like in WPH for granny's?

 

I think so - not massive, but the area was bloody hard to get into (no stock).

Sounds like an identical situation! Not our cup of tea... but we lasted 2 years.

I could not rent out the place in WPH, week after week open home with no one turning up. Seems like an owner occ type of area. Lacrim you must be pretty lucky to get the granny and freestanding rented!

 

Its located in the older, leafy part of WPH adjoining Beecroft. And yes lots of families in the area. The fully separated granny attracts couples and singles.

Both not the easiest in the world to rent out but I can't say I've had a problem letting them out to date (touch wood).

 

Thanks for sharing... a good granny goes a long way for cashflow.

 

Hi wannabe.

So what did you decide? Still looking at PPOR or waiting for prices to cool further?

 

Yep actually think inner city Sydney is better value than burbs from a value perspective too...

 

Based on recent price falls and expectations for 2018... 2019 will probably offer biggest discounts (best value).

 

Some of my contacts in my professional circle speaks highly about Carlingford due to quality/good schools and I guess close to other big suburbs.(1 have bought couple of years ago in that area another have bought last year in WPH) and Couple of them are even considering to rent untill they find a good property.

Kids education is important and I believe all parents want to provide the best, I got 18months old so still a while for me to go but I do not think I can get loan to buy $1.5m property which is the norm in that or any good areas.

My strategy is to find a higher paying job and try to save some cash and hopefully in couple of years I may be able to, considering the equity from curent PPOR, IP's and combination of some cash and higher salary may put me across the line.

Please feel free to suggest or advise any other strategies you see fit for me , happy to hear and comsider the options

 

Hi @Lacrim , is there any specific reason that you don't like the area other than the big backyard ??

 

Is it justifiable/acceptable $1.2M + prices for carlingford or is it just because of sydney boom hype????

 

Had nothing to do with the backyard, or the area in general. It was a personal thing. We just had a fish out of water/out of body experience bc we were so used to the East. In essence we just missed it too much and longed for familiar surroundings.

In fact, if you like the Hills lifestyle and peace and quiet on a quarter acre block, I highly recommend Beecroft, WPH etc.

 

I think 1.2m in Carlingford is actually on the cheaper end.

Yep, I can understand that. Depends on what you are used to. Lots of big houses and many being over the top/ostentatious in WPH. I like the old period homes with beautiful gardens in Beecroft though.

 

Agree. My house is in the older, leafy pocket of WPH ie within the triangle framed by the Cumberland Hway, New line Rd and Victoria Rd.

 

Thanks guys

 

I have seen only couple around this price others are 1.3 or 1.4m+

But as per my initial question is this price justified or is it because of Sydney boom hype??

There is also a talk about sydney property price correction-will this area prices be bit more affordable?

 

Thanks for the tip.

In the past (10-12 years ago) I have lived for sometime in hornsby and kellyville ao I do like the hills area and surroundings.

I have never lived in east or north but the Ocean component is very attractive when it comes to thiae areas which puts the price more up so only the rich can afford there lol

 

Go to Brisbane.... You can get homes with bay views or stroll to the bay from only 500k....