Off the plan in Liverpool NSW

M

matche

Considering to buy off the plan apartment in Liverpool NSW, 1 bedroom + 1 study, 79sqm, 320k.

Got some questions:
-Will there other new development in Liverpool in coming years? If yes, I may wait and see.
-Some off plan properties are overpriced, how about the one I after now? If overpriced, how much do you think it should worth?

Thoughts appreciated!
 
I read on Somersoft recently that there may be an oversupply of such units in the next few years. Worthwhile doing a search on Liverpool.
 
matche said:
Considering to buy off the plan apartment in Liverpool NSW, 1 bedroom + 1 study, 79sqm, 320k.

Got some questions:
-Will there other new development in Liverpool in coming years? If yes, I may wait and see.
-Some off plan properties are overpriced, how about the one I after now? If overpriced, how much do you think it should worth?

Thoughts appreciated!
Click to expand...

Nooooooooooooobbbbsss

For 320k look at an old house in Lurnea. Might cost around 350k but will be better than a unit in Livo.
 
matche said:
Considering to buy off the plan apartment in Liverpool NSW, 1 bedroom + 1 study, 79sqm, 320k.

Got some questions:
-Will there other new development in Liverpool in coming years? If yes, I may wait and see.
-Some off plan properties are overpriced, how about the one I after now? If overpriced, how much do you think it should worth?

Thoughts appreciated!
Click to expand...

I think you should be able to find those answers yourself, rather than expecting strangers on a forum to do your DD for you.
 
i sincerely hope the earth is round. I go further and further south or west part of Sydney for sub $300k house that I might fall off the earth one day...:D
 
datto said:
This is the cheapest house I could find in Lurnea - $415K on a relatively small block :

http://www.realestate.com.au/property-house-nsw-lurnea-114980551

The market is too hot to find bargains. The market is so hot it's strutting around in a skimpy bikini. You can look but no touch, unless you got plenty of dough.
Click to expand...

Interesting. I went and had a look at this one a few months ago:

http://house.ksou.cn/p.php?q=Lurnea&sta=nsw&id=792219

An identical one a few doors up with a tart up reno sold for 400 a couple of months earlier. I even saw a house on a small block sell for 230 there earlier in the year.

Seriously but, a new unit in livo is a bout as bad as it gets i reckon. Then again the boom runs a little longer everyones a winner.
 
bobby85 said:
That's a bit pricey when the median for a 2bedder unit in the area is circa 250k
Click to expand...

That's for a older style 3 storey red brick block. Walk up Da stairs and bust your chops job.

Have a look how much the newer ones are going for.
Some of these are big 2 level units with panoramic views of the Hume Highway.
 
datto said:
Some of these are big 2 level units with panoramic views of the Hume Highway.
Click to expand...

I'm a train person ... Do any come with views along the railway tracks ? :cool::rolleyes:

Back to the original question , With out knowing the specifics , I would be surprised if any of the long term investors would touch an OTP in Liverpool or anywhere in the western suburbs with a ten foot , or even an twenty foot , barge pole .

Cliff
 
Thank you for all advices.

Actually it will be my first property, I have been looking for my first properties for few years, and personally I prefer OTP, with budget around $350k, 1 bedroom, 1 car space and close to major train station, with express trains to Central(Sydney), anyone knows are there other suburbs that meet my requirement? So far I only found Liverpool.

Also, just wondering how to know any upcoming new developments, the usual way I check is through domain.com/realestate.com, are there any other ways I can check?

Thanks.
 
matche said:
close to major train station, with express trains to Central(Sydney)
Click to expand...

Here's your problem already - nearly all of those OTP in Livo are backing onto Hume Highway and they're a good 15-20 minutes walk from Livo station past the hospital before you get back to your place. On the flipside, because they're fairly close to Warwick Farm station, you might be better off driving to Warwick Farm station and catch a train there...

IIRC the train from Holsworth is quicker to the CBD than the one from Liverpool, there's an OTP on Nuwarra Rd Moorebank right next to Georges Fair and they're around the same price. The only problem is you will need to drive to Holsworthy station and it's almost full by 8 every morning without fail. Does it have to be a brand newie though? The 3-4 stories high apartments near Westfields are closer and cheaper except they're about 10 years old.
 
Pretty sure you can walk from Livo station to Hume Hwy (cnr Bigge St) in less than 15 minutes (unless you cop a Liverpool Kiss along the way)

Liverpool has bettershopping centre than the areas you mentioned mini2.

I got a 2 bedda older style walk up (bust ya chops carrying shopping to 3rd floor) in Lachlan St. CG has been slow but had the same tenant for 10 years.
 
matche said:
Actually it will be my first property, I have been looking for my first properties for few years, and personally I prefer OTP

Thanks.
Click to expand...

Matche

We've bought many properties in the past but don't have a preference for OTP. I don't have a preference for any type of property . For me the important thing is value in the deal .

Most OTP's I've looked at haven't stacked up , but then again most deals I've looked up haven't stacked up...

I'd be looking at the deal rather than it being " OTP " .

The thing that worry me is you expecting the forum to tell you whether it's a good deal or not . You're the one who's been looking for years ...you should know by now .

What do you want from the deal ? Cash flow? Cap gain ?

Cliff
 
datto said:
Pretty sure you can walk from Livo station to Hume Hwy (cnr Bigge St) in less than 15 minutes (unless you cop a Liverpool Kiss along the way)

Liverpool has bettershopping centre than the areas you mentioned mini2.

I got a 2 bedda older style walk up (bust ya chops carrying shopping to 3rd floor) in Lachlan St. CG has been slow but had the same tenant for 10 years.
Click to expand...

Yeah you can probably do it in less than 15 minutes if you pick up your pace a bit (probably a necessity after dark lol :p)...not sure where else can you shop from in Livo other than Westfields and that smaller centre near the NRMA service centre thing.

I had a look at those older 2 bedders in Speed St couple of years back but the numbers don't really stack up - no CG to speak of and around 5% yield. Like your tenant, very very stable tenants in those area in particular hospital staff that lives locally in the area.
 
CG in those older ones would have been decent if you bought in last year. I saw plenty at 190k and now nothing much under 240k at all.
 
matche said:
Considering to buy off the plan apartment in Liverpool NSW, 1 bedroom + 1 study, 79sqm, 320k.
Got some questions:
-Will there other new development in Liverpool in coming years? If yes, I may wait and see.
-Some off plan properties are overpriced, how about the one I after now? If overpriced, how much do you think it should worth?
Thoughts appreciated!
Click to expand...

You are about a year late for reasonable prices.....look at the investment cycle.
But - there is the deal of lifetime every single day...:)

OTP / high rise apartments are becoming wide spread in the Liverpool CBD and you need to be very careful to have something special...anything...to absolutely set your apartment apart from all the hundreds of others almost exactly the same.
IMO - I suspect it will become a bit of a ghetto in the future....

Yes - they are overpriced - the developers have already added some of the current growth to the price....and there are plenty of things that have not been added to the "final price"....I think there are better deals elsewhere.

But - if you like the deal and the location - then follow your gut instinct...
(I suspect that the OP not at all sure it is a deal)

I looked hard at buying there before September 2012 and could not make the deal stand up compared to many other "better" deals in the nearby suburbs.
Finished up with a deal at Miller 2168, that is on track to produce over $700 per week rent for just under $400k - plus capital appreciation.
(3br main house + OB 2br dual occupancy + garage extension + renovation)
 
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