Rouse Hill Town Centre Apartment

Has anyone looked into or bought one of these places as an investment or to live in?

http://www.realestate.com.au/realestate/agent/the+new+rouse+hill+lend+lease+gpt/curpzq/104888950

Hi Melissa

I know these apartments but wouldn't consider them as my first choice as an IP- not when you consider that, for a little more ($30-60K) you can buy an older home in nearby Kellyville (also closer to the CBD) on a decent block of land. Try looking in the old village section for some absolute bargains at the moment. I saw one the other day for $435K in a quiet cul-de-sac in a fantastic position that truly represents great value for money (even better if you negotiate well ). In the future there's going to be a plethora of these type of apartments grouped around new shopping centres, such as Rouse Hill, and with not much capacity to add value, it may well be a while until any growth is likely to be seen.
Buying for home purposes, however, is a different kettle of fish. You may well appreciate the closeness to the town centre, the convenience of having the shops, bus stops and cinemas at your front doorstop and like something brand new- horses for courses, after all
On the other hand, with an older property, you also have the benefit of being able to value add through a cosmetic reno (or even knock down and rebuild in the future) and increase the rent due to this as well. Rents are fast catching up to the good old 5% yield days in this part of Sydney as well.
Just some food for thought- hope it helps.

Try rouse hill you can buy a house on 500sqm 3-4 beds for 450k.

I live 3 minutes away from these units and although there are a couple of unit blocks around in Rouse Hill and Kellyville Ridge I wouldnt consider these a 'good' investment purely becasue the demographic here is not suited to units. Its more a family area and the usual 3/2/2 house would be much easier to rent and sell if needed.

There is also alot more land around here that will be developed in the next 5-10years.

These units are on the new bus transit road and in the middle of rouse hill town centre but for the money you'd do well to look in other areas or at houses.

Thanks for the replies.

I live in Rouse Hill and the number of houses that have sold around here in the last 6 months and so quickly is unbelievable!

I can't imagine how fast these properties will move once interest rates start coming down.

We are looking at picking up a house around this way as well for all the reasons you all mentioned, I just like the idea of those apartments!

GreenTreeFrog said:

I live in Rouse Hill and the number of houses that have sold around here in the last 6 months and so quickly is unbelievable!

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The market is very solid at the moment around the area. I live in Beaumont Hills and we just sold our place in 10 days.

Well done Shady
Average no. of days Beaumont Hills properties are on the market before selling is now 72 so you did well!
Do you think the agent did a good job? If so, would like to know who you used and why.

Personally, if i were looking at this general area i would be aiming to pick up an older house in baulkham hills, or even castle hill (if the budget allows).
You will get a much bigger block of land, and have a lot more potential for future value adding.

There are plenty of 3bd houses under $500K in castle hill at the moment
.... thats just my personal feelings tho!

Jacque said:

Well done Shady
Average no. of days Beaumont Hills properties are on the market before selling is now 72 so you did well!
Do you think the agent did a good job? If so, would like to know who you used and why.

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There have been several houses in the $750+ range in the area over the past 6 months that have sold reasonably quickly. I have noticed that there is a lot more stock in the $600k's and they do tend to take longer to sell. A couple that I drive past every day have been on for 4-6 months.

We choose Stephen Giacomelli from Elders Kellyville. We choose him because because we thought he would be the best negotiator. One particular agent boasted that he just acts as a middle man between the purchasor and vendor and I got the impression he didint like to 'work the buyer' for more money.
I think Stephen did a good job on our behalf getting the most he could out of the buyer which he had been showing properties to for 4 months.

I have also had a couple of mates sell their properties in Castle Hill and Kellyville and had good experiences with Elders at Kellyville and Castle Hill which are both owned by Bruce Gilmore.

Thanks for that, Shady. Glad to hear it all worked out well

Hi, I have to agree with Jacque. I have had clients purchase these appartments. My personal opinion is the price is quite high for where it is - not that i am a valuer but prices ranging Approximately $475K - $575K for 2 or 3 bedroom unit depending on which level the unit is. You can buy a house for this at Kellyville Ridge maybe a bit more but at least you would have some land. I guess it depends on the lifestyle you want but with the prices starting this high i wonder how much your investment would increase or how long it would take for your investment to increase. OK its a new area great development in the making but the units dont even have a beautiful view for this price.

I thought some of them would have mountain views?

I spoke to the agent and only north facing lower floor 3 bed apartments are available now anyway - all the top floor ones are taken.