NSW Winston Hills / Baulkham hills

Discussion in 'Where to Buy' started by ToonyBoy, 25th Feb, 2022.

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  1. ToonyBoy

    ToonyBoy Well-Known Member

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    I was looking to secure a property (to live in) in Winston Hills / Baulkham hills last year. Situation was almost similar to toilet papers fight in super markets.

    However, I could see very good growth in these suburbs in a year

    Winston Hills - avg est value 1.45 mil and change in avg est value in one year ( 344K / 31%)

    Baulkham hills - avg est value 1.65 mil and change in avg est value in one year ( +400 K / 32%)

    I prefer these suburbs, as they are very central , not far away our kids schooling, office and other needs and big land.

    I noticed in last 2 weeks that tone of release estate agents are softening and they keep saying, “Owner can meet market expectation”. However, has not seen any major shift in prices as it is too early to tell.

    I am posting this, as I would like to know more about property market in these suburbs if they can share.

    Thanks guys in advance
     
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  2. thunderstrike888

    thunderstrike888 Well-Known Member

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    You wont get much for $1.45M in Winston Hills these days. That's approaching Pendle Hill/Toongabbie/Seven Hills prices.
     
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  3. ParraEels

    ParraEels Well-Known Member

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    check out the thread "The definitive Sydney 2022 Q1 and Q2 market analysis and conclusions"

    I and other members have posted about Baulkham hills today.
     
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  4. Aspect

    Aspect Well-Known Member

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    Hi @ToonyBoy , there are still plenty of people going through open homes however the sense of urgency has disappeared compared to last year. A-grade properties are still getting amazing results, however other properties are now staying on market longer.

    In saying this it's not as if prices have been dropping per say from my observation, more a stabilisation and agents have now had to work harder for sales. Not sure if there's any sort of imminent drop in prices though.
     
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  5. datto

    datto Well-Known Member

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    If in doubt, wait it out.
     
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  6. ToonyBoy

    ToonyBoy Well-Known Member

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    yeah . your right. But i am not looking for super property. Planining buy old 3 bedroom property and renovate/extend it. let us see how it goes.
     
  7. ParraEels

    ParraEels Well-Known Member

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    26 Brucedale Drive Baulkham Hills – only 10 days on the market – poor property – Sold $ 1,500,000
     
  8. ToonyBoy

    ToonyBoy Well-Known Member

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    Thanks @ParraEels , I've been following your posts and helps us to know the day to day market situvation. Pls post info related to these suburbs if you come across
     
  9. ToonyBoy

    ToonyBoy Well-Known Member

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    the price point of view

    14 Rebecca Parade, Winston Hills - recently, fully renovated property listed with price guide above 1.6 Mil . Sold for 1.55 Mil . It could be one off.
     
  10. ParraEels

    ParraEels Well-Known Member

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    I am sure you can find something decent around $ 1.5m in Winston Hills if you are willing to wait and monitor the market carefully.

    Not all properties are selling at a premium like last year. Discount around 5% appearing on some deals. Supply will put lots of pressure on price.

    3 Ness Place WH – advertised for auction and took offer before, $ 1,507,000
    399A Old Windsor Rd – passed in at auction – 31 days on the market
    7 Lister St – 61 days on the market
    25A Moses Way – 92 days on the market
     
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  11. ToonyBoy

    ToonyBoy Well-Known Member

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    @ParraEels , your 100% right. seeing slight changes in the market for last couple of weeks. in Next 4 weeks, we will get to know if the trend is going down or upwards.

    I've been going to few inspections and observing sales cycle of those properties to get to know the market. Hopefully will find something
     
  12. KingCantona7

    KingCantona7 Well-Known Member

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    Hold off your horses
    I may be a fellow competitor ( as I am also looking to buy) , but to tell you the truth agents are getting very very desperate in BH
    Plenty of stock coming to the market, and I think waiting does no harm at this stage
     
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  13. KingCantona7

    KingCantona7 Well-Known Member

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    Also, if time permits visit my thread "Hornsby vs Baulkham Hills" and you can see plenty of valuable insights.
    The general consensus was the increase in stock and more properties selling before auction
    As ParraEels pointed earlier, also visit the Sydney Q1 Q2 thread , lot of useful insights
     
  14. Aspect

    Aspect Well-Known Member

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    I had 2 agents in the Hills repeatedly try and call me about upcoming auctions for properties I went through a few weeks ago, and today one said that noone has registered for one of these auctions even though it is tomorrow (although these are not A-grade properties).

    The next 4 weeks will definitely be interesting. There are still some strong results though, but the tactics and attention given to buyers from agents now is markedly higher than 3 weeks ago.
     
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  15. beachgurl

    beachgurl Well-Known Member

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    I agree about the reduced urgency in the area. Owners are generally still holding out for big bucks and some are taking the properties off the market rather than discounting.
     
  16. Aspect

    Aspect Well-Known Member

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  17. thunderstrike888

    thunderstrike888 Well-Known Member

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    Mate like many have said ppl pick 2 or 3 examples of failed auctions and immediately conclude the market is down. There were HEAPs of failed auctions in the peak last year.

    I'm seeing VERY strong demand in Winsto and BH still. Very very strong. These areas still provide excellent value for money. Especially when you look at Seven Hills, Rooty Hill, Quakers Hill prices - I'd much rather live in Winston Hills/Baulkham Hills 10000000000000x more and the prices in these Hills areas are still cheaper than say Bella Vista/Castle Hill.

    Today's clearence rates will be low both in Syd/Bris - bad bad weather today and quite dangerous in some suburbs.

    This weekend is a writeoff. I know several houses already cancelled their inspections/opens this weekend.
     
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  18. ParraEels

    ParraEels Well-Known Member

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    I am not suggesting that you buy now or buy later. All I want you to do is make well educated guess for your next purchase.

    Sometimes sold price does not reflect the true picture.

    I want to share what I observed today, auction of 230B North Rocks Road North Rocks (11;15am today).

    Agent was tried hare to sell off market for sometime and was unsuccessful. It was recent launch on the market and sold today at auction.

    1st Bid $1,450,000 (# 351)
    2nd Bid $ 1,500,000 (vendor's bid)
    3rd Bid $ 1,510,000 (# 351 increased his bid after discussion with agent)
    4th Bid $1,550,000 (# 351 vendor not agree so he increase his bid again and property sold)

    Buyer was very well prepared by the agent and he had full intention to buy the property at any cost. Buyer outbid himself when there was no real competition.

    Now you look at the sold price for this property and compare it with other property then you pay $ 1.55m for similar property. But you don't know how it reaches $ 1.55m. Its market price or due to FOMO or some trick used by the agent.

    This property is facing Uniliver Factory and located on the busy road. I thought the fair value was $ 1.4m. So similar house I will value at $ 1.4m or $ 1.55m. Ofcouse I know the reason behind that data so I will value the next similar property around $ 1.4m

    Similar sale

    https://www.realestate.com.au/sold/property-house-nsw-north+rocks-137748250 - $ 1.5m

    https://www.realestate.com.au/sold/property-house-nsw-north+rocks-137550990 - $ 1.33m

    https://www.realestate.com.au/sold/property-house-nsw-carlingford-138198246 - $ 1.42m
     
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  19. ToonyBoy

    ToonyBoy Well-Known Member

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    Wet weekend really helps buyers, as you know that most of the properties in these areas are more than 40/50 years old and some greedy sellers (not all **) do temporary renovations to get more money and hide major issues ( ex: leakage and storm water etc) .

    Few years back, my friend had to spend around 40K to fix structural issues due to storm water , re-do entire storm water. Literally he burrier 40K in the ground as you can not see any changes to house. really painfull for him as it happend just after 6 months from sale.

    I went to an open house today in this area and noticed water is seeping through walls in garage and lot of water moment in crawl space . so be careful !!!
     
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  20. thunderstrike888

    thunderstrike888 Well-Known Member

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    Yeah to be fair there is risk with EVERY house. These types of things even if you paid for a proper structural engineer to look at it during a sunny day I'd say 90%+ of them would never pick it up.

    Older houses always need maintenance. There would not be a single house that doesnt have some kind of minor issue. Even at my house right now I've got a hole in the backyard BBQ undercover area. Water has leaked in and eventually penetrated the ceiling. My house is around 50 years old.

    Every single house, repeat every single house I've ever bought even new ones have had issues. Ever since I've started in Re I've transacted over 40 properties now and not a single one has had zero issues. It comes with the real estate game.