Dee Why Grand Parade

[Ealbech]

What do you think about this new appartment complex which will be built next year? Asking prices vary from 475K for 1Bed+Study to 600K for 2Bed.

It's very close to Pittwater road but quite far away from the beach (15 minutes walk). Rent appraisals are 470 p.w. for 1Bed and 550-650 for 2bed, which give us 5.2% yield.

What do you think about Dee Why as a suburb to live? What streets should be avoided?

 

[Philip Thomas]

Dee Why cafes: a great place to hang out

Dee Why has come a long way in the past 10 years. There was a time when Dee Why was wild & woolly, but that seems to have long past.

With the cafés along The Strand, the openness of Dee Why beach & Long Reef, then Warringah Mall close by I can certainly see the appeal.

Many units in Dee Why also have water views. And Dee Why looks good value.

Obviously being on a busy road like Pittwater Rd isn’t the place to be, especially when there is a lot of competition. Key consideration as with all real estate is "location" & for Dee Why "quiet location" is key.(tThough some people seem to go for in you face noise).

If you look closely there are plenty of quiet streets in Dee Why. For a rental property, I would look at vacancy rates in the area & turnover. There is a lot of stock in Dee Why so its important to check out liquidity / how quickly units turn over & at what price.

I had an interstate friend in town a while back who’s into property in a big way. He chose to hang out daily in the cafes at Dee Why over Manly, because he felt Manly was too busy.

Philip

 

[Andrew L]

The little pockets around Delmar pde and Sturdee pde sold far to high ( I sold heaps of them) in the early 2000's and have still got many investors unable to sell higher than there buy price.

If I was to buy into DY I wouldn't go any further west than Avon Pde and look at Wheeler, cassia and banksia as the local streets of choice. From experience and local knowledge you can follow the builders around the suburb as they just duplicated there previous designs.

The older 70's large 2 bed 1bath is a great steady earner in DY. The right building, size property and reno will see some very tidy profit.

The newer sites are completely dependent on build finish as there are at least 10 buildings built since 2000 that are almost impossible to get an exchanged contract on once a strata search is done. The worst search I had was a 23 page list of issues that the body corp and builders insurance we're fighting about. At one stage the Grand Reef was looking like being demolished to lesson the cost of repairs.

If you look alittle further north to Collaroy and Narrabeen the huge influx of new luxury apartments has seen there value fall while the older units have gained value? Dy is no different. Look at improving value on an unrenovated oldie than take the risk on more new property in DY. Just remember there main town centre is over 500 units that will be closer to the beach and transport than yours?

 

[Propertunity]

The older 70's large 2 bed 1bath is a great steady earner in DY. The right building, size property and reno will see some very tidy profit.

Agree 100% with Andrew and the rest of his post. 5.2% is OK but a bit standard. 15 mins is a bit far from the beach, Pittwater Rd is a very busy noist road and bound to get worse over time. - ahhhh just repeating what Andrew said.......

For me, I'd go older 70's with a reno.

 

[sports fan]

i reckon dee why is a great location to live.. good surf, shops, resteruants/ cafes, transport links & heaps better value than surrounding suburbs (for units)

as said before with dy's high density there are some streets that are quiet busy + noisy probably best avoided. Also with the high density if you can find a place that has something different eg a view, close to the beach, good usable balcony etc. will always help with resale value against similar that dont

with dee why grand i dont think you would go wrong as long as the unit isnt overlooking pittwater road. i would only estimate a 7-10min max walk to beach from the site!!? sthn cross constructions has a good reputation for quality, its the smaller developments being built by chinese, arab developers that are a bit of a worry as corners get cut to maximise/ protect profit then the defects come back to bite them in the behind..

the best shot would be an older unrenovated unit as mentioned

 

[awsydney]

Dee Why

I think Dee Why is undervalued compared to some of its surrounding suburbs with similar beach and surf culture.