300% - that is amazing.
It will be interesting to see if it as crazy.
However, I don't see the same villa going from 230K to 690K!
Does it still make sense to buy in Western Sydney?
- Thread starter DennisLeung
- Start date
300% - that is amazing.
It will be interesting to see if it as crazy.
However, I don't see the same villa going from 230K to 690K!
Maybe not this time around. But I wouldn't dismiss 400K (print this and stick it on your fridge for future reference).
When I bought my house in the late 90s it was rock bottom. The prices had been low for many years before hand. It was just luck I suppose that I got the timing right.
If I can get 400k in the not too distant future I will be very
and so will alotof other investors.Maybe not this time around. But I wouldn't dismiss 400K (print this and stick it on your fridge for future reference).
When I bought my house in the late 90s it was rock bottom. The prices had been low for many years before hand. It was just luck I suppose that I got the timing right.
If I can get 400k in the not too distant future I will be very
haha - I will screen shot this!!! Here is hoping
.....
historically prices double each boom .
Check what similar properties sold for at the last peak and double .
Cliff
Check what similar properties sold for at the last peak and double .
Cliff
Using this formula, the cheapest houses in the Druitt, should be around 480K...yeeha!
Yep! Party at the Skater household.
Hi Skater
Now you need a nice weekender for relaxing by the water
This is the one I wanted before I was convinced otherwise . Dated house on the water . solid but needs a reno .
Nice sloping lawn down to the water . Boat ramp ( needs work ) and a sandy beach at low tide.
Probably started around 1.2 - 1.4 about five years ago . Down to 795 when we were looking a year ago . Now 695 .
http://www.realestate.com.au/property-house-nsw-north+arm+cove-104794054
Nice neighbours
Cliff
Would this house be affected by a rising sea level?
I heard properties in Nelson Bay are. In fact a king tide early this year went halfway up a backyard on a waterfront property at Corlette, making the owner somewhat nervous.
I also heard new waterfront dwellings will need to be built higher.
I heard properties in Nelson Bay are. In fact a king tide early this year went halfway up a backyard on a waterfront property at Corlette, making the owner somewhat nervous.
I also heard new waterfront dwellings will need to be built higher.
I'd guesstimate its at least 5 mtrs above water level , Maybe more so note a problem in the foreseeable future . Fairly protected and didn't appear to be subject to erosion .
I thought the land was nicer in terms of usability of the waterfront than the one we bought , however the house we bought was nicer , and after a while of soul searching ( I wanted somewhere I could launch a sailing dingy from a beach ) I realised we'd be spending much more time in the house than on the waterfront and out voted myself .
We looked at two places , pindimar and north arm cove . The first day we were there it was high tide with a southerly blowing .
Pindimar is very low lying , i stood at the back of one block with the house about 10 mtrs away from the waterfront , maybe half a meter above water level and watched bits of the block being washed away ......
I googled costal erosion and found someone's thesis which documented three blocks including one in pindimar . From when the block was first surveyed it had lost over 15 mtrs in length .
We decided not to buy in pindimar .
Cliff
I thought the land was nicer in terms of usability of the waterfront than the one we bought , however the house we bought was nicer , and after a while of soul searching ( I wanted somewhere I could launch a sailing dingy from a beach ) I realised we'd be spending much more time in the house than on the waterfront and out voted myself .
We looked at two places , pindimar and north arm cove . The first day we were there it was high tide with a southerly blowing .
Pindimar is very low lying , i stood at the back of one block with the house about 10 mtrs away from the waterfront , maybe half a meter above water level and watched bits of the block being washed away ......
I googled costal erosion and found someone's thesis which documented three blocks including one in pindimar . From when the block was first surveyed it had lost over 15 mtrs in length .
We decided not to buy in pindimar .
Cliff
There are two blocks of land the house is on one and there's another next to it , also waterfront . Both around 1000 from what I recall. The 695 is , I assume for the house . Someone offered 750 and rhe owner got enthusiastic because she thought it was for just the house , but then found out it was for everything....
I think it is cheap , but that's the price at this stage and its been on the market for years and the price has been been coming down during that time . The same thing happened with the place we bought and another we were interested in which sold just after we bought.
With the market picking up in sydney , this will sell at some stage . I still think its probably still over what the market will pay at this stage . The land is nice but the house needs work . The expensive houses that have sold have had nicer houses. I think in the current market low 600'a is closer to the mark.
Cliff
I was looking at a crappy small bedroom unit close to Kingswood station for about 235K. Probably be renting for between 260-270 per week (optimistic). My calculations say that it will be losing $50 per week.
On one hand some you guys' comments of "the market still has steam" excite me, but on the other hand this seems like a very crappy deal. The problem is that there is no other stock/the other stock is now similarly negatively geared. What do you guys think?
On one hand some you guys' comments of "the market still has steam" excite me, but on the other hand this seems like a very crappy deal. The problem is that there is no other stock/the other stock is now similarly negatively geared. What do you guys think?
OMG! I went to the R&W auctions at Rooty Hill tonight just out of curiosity.
231 Knox Rd, Doonside (main road) minor vandalism sold for $353,000
76 Nellie Stewart Drive, Doonside. Severe fire damage (total inside gutted)
sold for $284,000.
23 Moffat Drive, Lalor Park. Corner block, sold for $415,000
36 Livingstone Avenue, Darruk (owner occupier) sold for $282,000
6 Law Crescent, Tregear (owner occupier) sold for $221,000
1-32/308-310 Great Western Highway, St Mary's. 28 studios and 4 1 bed units. Passed in at 3,000,000. But sold after auction for $3.3mill.
Lots of bidders for the first 4.
Eye opening, that's for sure.
231 Knox Rd, Doonside (main road) minor vandalism sold for $353,000
76 Nellie Stewart Drive, Doonside. Severe fire damage (total inside gutted)
sold for $284,000.
23 Moffat Drive, Lalor Park. Corner block, sold for $415,000
36 Livingstone Avenue, Darruk (owner occupier) sold for $282,000
6 Law Crescent, Tregear (owner occupier) sold for $221,000
1-32/308-310 Great Western Highway, St Mary's. 28 studios and 4 1 bed units. Passed in at 3,000,000. But sold after auction for $3.3mill.
Lots of bidders for the first 4.
Eye opening, that's for sure.
OMG!
36 Livingstone Avenue, Darruk (owner occupier) sold for $282,000
.
Now thats a good price for an owner occupier! Although Dharruk is one of the better suburbs out there.
http://www.realestate.com.au/property-house-nsw-tregear-114426259
"Owner occupier only".. is this a restriction set in place by council to help gentrify the area?
It was a bit funny to watch two work mates taking about price increases at work today. They talked to me like I had no idea.
Haha, love it!
