See Change and Richard Feynman . let's hype the sydney market thread .

They don't People don't buy houses in Wentworthville for 1.3 mill for an investment.. They buy to live, hence pushing the prices stupidly high

I was referring to darling harbour, you said compared to wentworthville it was a good buy, I'm saying on a standalone basis it isn't. Just because there may be potentially worse buys out there doesn't make 800k for a 1 bedder a good buy
 
They don't People don't buy houses in Wentworthville for 1.3 mill for an investment.. They buy to live, hence pushing the prices stupidly high

Wentworthville is 1 train stop away from Parramatta.

I won't say it is stupidly high - just that it is next door to Sydney's 2nd CBD.
 
Wentworthville is 1 train stop away from Parramatta.

I won't say it is stupidly high - just that it is next door to Sydney's 2nd CBD.

2 Stops Away to be precise... It's Westmead then PArra....

Still.. 1.3 mill for a house in Wentworthville.....
I'm curious who is buying these houses ? How can an average family household afford 1.3 mill.... Even the deposit 20% + Stamp duty will be over 300k... Paying 1 mill debt with Principal + Interest will be around 4000-5000 per month.....

You need to be in 200k house-hold income to be able to afford this...... Am I missing something ? Or perhaps average professional income in Sydney is now closer to 100 ?
 
For 1 bedders this is a bit of a comparison of pricing.
600k on a main road in Baulkham Hills
800k to live in the city with that view.
500k kellyville. Dont know where exactly
470k Rouse Hill. Next to shops.
440k schofields in between the farms and old houses and on top of a train line

If you want an expensive 1 bedder i'd pick Rouse Hill over the lot with the city one coming second. Seeing a lot of retirees and chinese enter rouse hill and the ponds now. Chinese buying up anything new quite quickly there too.
 
people paying these prices probably think these areas are great due to proximity to parra.. Seven Hills and Lalor Park still have their housing. Toongabbie still is a hole in many parts. Wentworthville is terrible in many parts. My favourite suburb close to parra would probably have to be pemulwuy and Winston Hills. I can see a lot of people on big bucks who will work in parra buying there.. Just my opinion though..
 
My favourite suburb close to parra would probably have to be pemulwuy and Winston Hills. I can see a lot of people on big bucks who will work in parra buying there.. Just my opinion though..

I don't see anything out of the ordinary in Pemulwuy - new houses on small blocks, and congested streets.

Places along the train line close to Parra are better value for money in comparison - with direct train to the city.
 
I don't see anything out of the ordinary in Pemulwuy - new houses on small blocks, and congested streets.

Places along the train line close to Parra are better value for money in comparison - with direct train to the city.

Westmead's a good one too.
I love the houses on small blocks in Pemulwuy. The way of the future I think. I guess that'll make half decent blocks even more valuable
 
You need to be in 200k house-hold income to be able to afford this...... Am I missing something ? Or perhaps average professional income in Sydney is now closer to 100 ?

Probably a double income family with two IT professionals with masters degree :)
 
Wentworthville is 1 train stop away from Parramatta.

I won't say it is stupidly high - just that it is next door to Sydney's 2nd CBD.

They've been saying Parramatta is the 2nd Sydney CBD for the last 30 years. Parramatta is just another large suburb. I would consider Chatswood a bigger business district than Parramatta.
 
Wentworthville is 1 train stop away from Parramatta.

I won't say it is stupidly high - just that it is next door to Sydney's 2nd CBD.

1.5 years ago we were looking for a house in the inner west and prices were not 1.3 million. So yes, 1.3 mil is stupidly high for Wentworthville.
 
How is it a good buy? How would someone expect to make money on it if investing?

The same people saying it is a bad buy are the same ones that said Barangaroo apartments were a bad buy. People are reselling now Barangaroo apartments for 23-35% profit form OTP prices.

I'm not saying that I would personally buy a 1 bed apartment for 800k in Darling Harbour as I'm focused on 2 bedders in the suburbs I know and trust. However, there is one fundamental thing when picking an investment property and that is location, location, location. Darling Harbour is a better location than Wentworthville for an infinite number of reasons I will not waste my time writing about.

http://www.dailytelegraph.com.au/ne...tion-even-starts/story-fngr8h22-1227198040802
 
2 Stops Away to be precise... It's Westmead then PArra....

Still.. 1.3 mill for a house in Wentworthville.....
I'm curious who is buying these houses ? How can an average family household afford 1.3 mill.... Even the deposit 20% + Stamp duty will be over 300k... Paying 1 mill debt with Principal + Interest will be around 4000-5000 per month.....

You need to be in 200k house-hold income to be able to afford this...... Am I missing something ? Or perhaps average professional income in Sydney is now closer to 100 ?

Exactly!! Who are buying these houses? Surely not owner occupiers for the reason you outlined above.

If you are on a 200k house hold income, let's be honest here, why would you want to live in Wentworthville?
 
1.5 years ago we were looking for a house in the inner west and prices were not 1.3 million. So yes, 1.3 mil is stupidly high for Wentworthville.

My comment was not specifically for that $1.3m. It was for c. $1 - $1.1m.

No doubt $1.3m is a lot for a block that size.
 
I think Westmead is a different ball game altogether.

Westmead is really good. Recently moved here, close to Parramatta park, express train to city, Hospital is being upgraded, no high rise development on the pipeline, private schools, light rail to Parramatta and Epping is coming soon, vacancies rate is very low. 1-1.5%
 
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