Buying In Doonside, Bunya Estate
- Thread starter jewel18
- Start date
Hi Jacque 
Our old place definitely sounds cheap now (personal attachment factored in)! Imagine how much reno you can do with a $100k.
On the Bunya development, my 2 cents:
I used to live in the area (Tallawong oval), and I also think that the houses near the Bunya development (down Rosenthal St, called Huntington Heights?) is quite nice, but I don't see any of them worth much more than $400k. So $550k for a new house sounds very expensive to me.
It's not really Doonside, but if it has Doonside postcode on it, so I don't know if the price will ever rise that much.
The 'trouble' area is the one bordered by Rosenthal St, Bungaribee Rd, Doonside Rd, and Kildare Rd (or the rail link). It's also not that close to the station, about 20 mins walk, and Doonside station is not that safe (well, if the station master got bashed ... I won't call it safe). Having said that, it's not like you have a 100% chance of being robbed or bashed (or even 0.01% for that matter).
The nearest bus stop is at Rosenthal St and it goes to Blacktown station. It can take more than 20 minutes! It does a loop though, so if you walk to the IGA stop, it's only 5-10 minutes. As far as I know there are no buses that go to Doonside station from there, although I'm sure Busways will introduce a new route.
Driving is the least painful option, but I don't think it's that safe to park near Doonside station, or even Blacktown station. So, even though the public transportation is excellent once you get to the station, you have to think about how you want to get there first.
Just one final thing about new developments. My electrician once said that he has to charge me extra because my (old) house was built 40 years ago, so it's actually built solid (structurally). He said that a lot of the new houses in the area (Prospect, Woodcroft) about 20 years ago don't have the same build quality as developers try to save money everywhere. I don't know how true this is.
Our old place definitely sounds cheap now (personal attachment factored in)! Imagine how much reno you can do with a $100k.
On the Bunya development, my 2 cents:
I used to live in the area (Tallawong oval), and I also think that the houses near the Bunya development (down Rosenthal St, called Huntington Heights?) is quite nice, but I don't see any of them worth much more than $400k. So $550k for a new house sounds very expensive to me.
It's not really Doonside, but if it has Doonside postcode on it, so I don't know if the price will ever rise that much.
The 'trouble' area is the one bordered by Rosenthal St, Bungaribee Rd, Doonside Rd, and Kildare Rd (or the rail link). It's also not that close to the station, about 20 mins walk, and Doonside station is not that safe (well, if the station master got bashed ... I won't call it safe). Having said that, it's not like you have a 100% chance of being robbed or bashed (or even 0.01% for that matter).
The nearest bus stop is at Rosenthal St and it goes to Blacktown station. It can take more than 20 minutes! It does a loop though, so if you walk to the IGA stop, it's only 5-10 minutes. As far as I know there are no buses that go to Doonside station from there, although I'm sure Busways will introduce a new route.
Driving is the least painful option, but I don't think it's that safe to park near Doonside station, or even Blacktown station. So, even though the public transportation is excellent once you get to the station, you have to think about how you want to get there first.
Just one final thing about new developments. My electrician once said that he has to charge me extra because my (old) house was built 40 years ago, so it's actually built solid (structurally). He said that a lot of the new houses in the area (Prospect, Woodcroft) about 20 years ago don't have the same build quality as developers try to save money everywhere. I don't know how true this is.
P.S. I agree with Jacque. Plenty of good sub $500k houses in those areas. Sub $400k even. I personally like the southern area (between Flushcombe Rd and Walters Rd) ... or between Bungaribee and Douglas Rd.
But my only qualification is that I used to live in Blacktown, I'm not a property guy at all.
But my only qualification is that I used to live in Blacktown, I'm not a property guy at all.
From what I understand that most of the people are against us buying a house in Bungarribee, the new suburb.
The land is about $295K after $20K discount from Landcom. The builder has quoted us $230K for a beautiful 4 bedroom and 2 bathroom plan. This includes solar planes, rainwater tank, H class slab, a nice kitchen. etc.
The maximum we would spend is $550K. we will get $15K from govt and $10K from Landcom if they comply with their restrictions (which we would).
This is a new suburb. But just trying to understand if a suburb conception chages over time or not?
I am keen to know what was quakers hill like say 8-9 years ago? was it the same it was then? How much has the property in quakers hill increased in the last say 8 years? Do you still think it will grow at the same pace.
I am trying to understand the market in Sydney. One side you have Doonside and other side will be bungarribee. Doonside houses are about 350K-400K and the houses in Bungarribee will be atleast $550K-$600K.
Same thing is with Stonecutter's ridge where houses are very expensive but its close to Dean Park and Woodcroft.
Do we say that the properties at Bungarribee or stonecutters ridge would not grow in the coming years.
The house that I build in Bungarribee will be my prime place of residence for atleast 8-10 years. Considering the suburd will have new 730 houses, Will that still be a wrong decision?
The land is about $295K after $20K discount from Landcom. The builder has quoted us $230K for a beautiful 4 bedroom and 2 bathroom plan. This includes solar planes, rainwater tank, H class slab, a nice kitchen. etc.
The maximum we would spend is $550K. we will get $15K from govt and $10K from Landcom if they comply with their restrictions (which we would).
This is a new suburb. But just trying to understand if a suburb conception chages over time or not?
I am keen to know what was quakers hill like say 8-9 years ago? was it the same it was then? How much has the property in quakers hill increased in the last say 8 years? Do you still think it will grow at the same pace.
I am trying to understand the market in Sydney. One side you have Doonside and other side will be bungarribee. Doonside houses are about 350K-400K and the houses in Bungarribee will be atleast $550K-$600K.
Same thing is with Stonecutter's ridge where houses are very expensive but its close to Dean Park and Woodcroft.
Do we say that the properties at Bungarribee or stonecutters ridge would not grow in the coming years.
The house that I build in Bungarribee will be my prime place of residence for atleast 8-10 years. Considering the suburd will have new 730 houses, Will that still be a wrong decision?
Hi DanielS,
I have a lot of people asking me about where to buy in Blacktown since it is such a large area - is there any specific reason why you have chosen those areas/streets?
I think it is difficult when buying your first place to think as an investor. You are likely to make a lot more money by buying something in a neighbouring area and doing it up (and/or buying under market value). But then you are not getting your shiny new house which I'm sure looks very impressive. With a new estate the developer is the one that makes the money.
Re Quakers Hill, I think that suburb has done so well as it was a not so great suburb in previous times but has improved due to Stanhope Gardens and Glenwood being next door. Those people who can't afford either have moved to Quakers so the area has improved. Parts of Doonside near Bunya may improve for this reason, but on its own I don't think that estate is likely to see good gains like QH has.
Re Quakers Hill, I think that suburb has done so well as it was a not so great suburb in previous times but has improved due to Stanhope Gardens and Glenwood being next door. Those people who can't afford either have moved to Quakers so the area has improved. Parts of Doonside near Bunya may improve for this reason, but on its own I don't think that estate is likely to see good gains like QH has.
It is just personal experience because I used to live in the area (Wilga St) and went to Tyndale (on Douglas Rd). By the way, this is in the late 90s. I moved north (near Sunnyholt Rd) in 2003, and I think the area is not as nice. Take a trip down Lalor Park shopping centre if you want to get an idea. But we lived in a cul-de-sac (Felicia Pl), and that was a very good street to live in (check the map, and you'll see how it is insulated from the rest of the area).
The people I knew who who live(d) in those areas almost never had a problem (burglary, robbery), compared to the ones who live in Woodcroft, or even say Newton Rd/Lancaster St/Monash Rd, and Bungaribee/Balmoral/Walters. I remember the Monash Rd friend said they get burgled yearly. Definitely stay away from the Kildare/Rosenthal area where the housings(?) are. One time, the kids there managed to throw a water balloon that went through the (opened) bus window. I'm sure it's nothing like Luxford Rd though. There were also stories about break-ins in Prospect and Woodcroft.
I knew people who live(d) in Craig St, Archer St, Kastelan St, John St and Julie St, and all these areas seem to be very nice and quiet (ahh, the memories ...). And of course Tallawong Av + Lloyd St, and back then I always thought these to be the nice areas. And my neighbours were the best!
You also learn a lot by catching the 725/726/727 bus for 8 years (3 buses routes within walking distance!) I would often be the only guy on the bus after 10pm, and you can learn a lot chatting to the bus driver, but besides that, you get a feel of the streets by looking at the people who get on and off.
beachgurl said:
I agree with this, but I don't know how it is in practice. Does this happen with parts of Doonside near Woodcroft.
Hi Jacque,
I have done some more research about where i want to buy and looks like Bunya estate is the most affordable areas i can get a new house for 550K.
with a land size of 550sqm and house size of 25sq.
can you please advise on what you think of it in terms of investment point of view.
we will be living in this house dont know for how long but looks like atleast 7-8 years.
according to our research we will still make good capital on it after 7-8 years rather then what you suggested to buy an old property in an already established suburb.
taking into consideration ill be already arnd 40K extra on an old property including mortgage insurance and stamp duty.
can you please shed some light as you do these reasearch on a daily basis and have more knowledge then me.
thanks!
I have done some more research about where i want to buy and looks like Bunya estate is the most affordable areas i can get a new house for 550K.
with a land size of 550sqm and house size of 25sq.
can you please advise on what you think of it in terms of investment point of view.
we will be living in this house dont know for how long but looks like atleast 7-8 years.
according to our research we will still make good capital on it after 7-8 years rather then what you suggested to buy an old property in an already established suburb.
taking into consideration ill be already arnd 40K extra on an old property including mortgage insurance and stamp duty.
can you please shed some light as you do these reasearch on a daily basis and have more knowledge then me.
thanks!
Hi Jewel,
If you build at Bunya, what are you planning to do with this house after 7 - 8 years? Sell or rent? No one here can accurately predict what will happen with the house prices. If you are really keen with this suburb then go for it. Just have a good investment strategy. Eg. If house price increase X amount after 7 - 8 years then sell it. If not, rent it out or stay longer.
If you build at Bunya, what are you planning to do with this house after 7 - 8 years? Sell or rent? No one here can accurately predict what will happen with the house prices. If you are really keen with this suburb then go for it. Just have a good investment strategy. Eg. If house price increase X amount after 7 - 8 years then sell it. If not, rent it out or stay longer.
Just curious, why would you buy in a brand new estate when you can get an established house in Pendle Hill, Girraween, Toongabbie, Seven Hills and Blacktown in that range closer to transport (and likely cheaper?).
My sis and I were going to buy OTP apartments as our first homes. Thank God we lost $1000 x 2 only...and walked away having learnt the biggest lesson first up - DO NOT buy brand new unless you get a screaming bargain!
Where Bunya is IS NOT NEXT TO HORROR DOONSIDE!
I must say, none of you must live in Sydney if you are worried about crime out in Doonside.
Do none of you watch the news.... because I believe the bad 'crime' issues have been closer to the city NOT in Doonside......
Further, please note that Blacktown (which incorporates Doonside) is a growth suburb, prices have more than doubled in the established parts of Blacktown in less than 5 years.
Bunya is actually closer to a 20 year old estate called Huntington Heights, where prices in there are much higher than Doonside. Further, ther is 'less riff raff'.
You will only lose money, if you buy in Bunya as an investment IF the economy tanks again e.g. a European Monetary Crisis.
I must say, none of you must live in Sydney if you are worried about crime out in Doonside.
Do none of you watch the news.... because I believe the bad 'crime' issues have been closer to the city NOT in Doonside......
Further, please note that Blacktown (which incorporates Doonside) is a growth suburb, prices have more than doubled in the established parts of Blacktown in less than 5 years.
Bunya is actually closer to a 20 year old estate called Huntington Heights, where prices in there are much higher than Doonside. Further, ther is 'less riff raff'.
You will only lose money, if you buy in Bunya as an investment IF the economy tanks again e.g. a European Monetary Crisis.
Interestingly, I submitted a loan application today for a client purchasing an investment property in Doonside. The credit assessor called me and asked if the customer is getting the rebate. I first thought they were talking about the FHOG. Apparently, there is a cash rebate on some properties/land in Doonside. Does anyone know anything about this or what properties are eligible for the rebate?
Regards
Shahin
Regards
Shahin
land developer rebates are a common thing for most devs these days, and are often shrouded as early settlement rebates or the like, so that the actual recorded price on the stamps database RP etc reflects the higher value
Thats why most valuers will press for the rebate question and discount the val accordingly
Quite a trap for new players that are looking to do high LVR lends
t
arolf
No its wasn't that - the way the credit assessor put it implied that there are some area eligible for the government rebate. I was in the car so couldn't talk for long but I will call her and find out. It was specific to the postcode (so may not be limited to just Doonside).
Righto - thats make sense and its very interesting. Do we have some facts around how many blocks are for sale, how many have been sold, location of the estate, etc?
The estate is called Bunya Estate, developed by landcom. This will be a new suburb called Bungarribee, which is a standalone suburb. This is in blactown council, near doonside.
The suburb will have about 750 homes. They are now in stage 4. They were selling stage 4 about 2 weeks back. I think it had close to about 40 land blocks. Almost all the lots are sold in that lot. The only ones left are the corner lots, which has a restriction to build double story. Or the lots with bushfire restrictions.
The suburb will have about 750 homes. They are now in stage 4. They were selling stage 4 about 2 weeks back. I think it had close to about 40 land blocks. Almost all the lots are sold in that lot. The only ones left are the corner lots, which has a restriction to build double story. Or the lots with bushfire restrictions.
My oh my... if 550K seemed "dear" just 2.5 - 3 years ago - what to make of Bunya 2015? The last few lots of land in Bunya were achieving $1200+ per square metre before it fully sold out in late 2014. 3 bed homes on 300M2 were going for high 700's - mid 800's... and 4 bedders on corner lots with a "massive" 500+m2 are now asking almost $1 Million.
http://www.realestate.com.au/property-house-nsw-bungarribee-119342091
http://www.realestate.com.au/property-house-nsw-bungarribee-119342091
