I think you should visit the area. Prices go up because people get priced out of other desireable areas. 200k is low income in Sydney if you want to live in Parramatta surrounds given the current market
See Change and Richard Feynman . let's hype the sydney market thread .
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I think you should visit the area. Prices go up because people get priced out of other desireable areas. 200k is low income in Sydney if you want to live in Parramatta surrounds given the current market
Agreed Parramatta changed significantly in the past few years. It really feel like cbd
I worked in Wentworthville for 10 years up to last year, so yes I visited the area frequently, more than you I would expect. How often do you go there?
For 1.3mil I would rather live in Winston Hills, North Rocks or The Hills area or even Northmead.
So you would say Parramatta is a bigger commercial area than North Sydney, St Leonards and Chatswood?
I live up the road. I wouldn't live in any of the mentioned suburbs for 1.3mill. May be 'cos I work in the city and commute is so much easier than the above mentioned suburbs.
Anyway, there is demand...so those buying are either total idiots or see potential.
I have driven up and down Bridge Rd a countless number of times and the streets that come off it where the 1.3mil house was situated and agree with you that they are total idiots or have some way to build a duplex and sell them for 1.2mil each.
I am just saying that it is all relative. So if a house in Wenty is 1.3mil which is 27km from the city and an hour and 15 mins drive in peak hour if you're lucky, then it is ok relatively that a 2 bedder in Darling Harbour is the same price or a 1 bedder is 800k.
The location of the development in Darling Harbour is where the Entertainment Centre is. So in between Darling Harbour and Chinatown. This sounds like a pretty good location that would be nice to live in if you work in the city and will never be without a tenant.
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I am on a 200k household income and can't afford this. I could service the mortgage but the deposit is a big ask.
Yup PArra Generate More GDP Than Chatswood, and St leonards.
Just under Macquarie Park..
http://www.smh.com.au/nsw/the-rise-of-parramatta-once-in-a-lifetime-opportunity-20150522-gh7eg3.html
In 2013, Parramatta Generate 7.6 Bill, where St Leonards generate 5.3 and Chatswood is 4.2..
In terms of money generated I stand corrected.
Having said that I know that Parramatta contains a lot more hotted up cars with loud exhaust and even louder drivers than St Leonards and Chatswood.
But if you had 1.3mil to spend/invest would you buy in Wentworthville, Chatswood or St Leonards?
Here are some recent sales in Chatswood and St Leonards.
http://www.realestate.com.au/property-house-nsw-chatswood-119674027
http://www.realestate.com.au/property-house-nsw-chatswood-119412663
http://www.realestate.com.au/property-house-nsw-st+leonards-106329438
Of Course Chatswood... But why is Chatswood West So Cheap ?!?!?!?!?
1.3 Mill... That's a BARGAIN!
Ok I guess Bubble will POP only in Certain Area.... No Way There's a bubble in Every single Area of Sydney. 1.3 Mill in Chatswood west and it looks renovated too....
10 years ago, these would have sold for $500? or less. So the sellers have done well. You may not see the value however even in those 10 years others who did are quite pleased I'm sure.
Yes, can't compare Darling Harbour with Wentworthville. Apples and Oranges.
Yeah they look pretty nice for the owner occupier. Renovated, on largish pieces of land and on a bus route. Only thing is the road they're on is pretty busy.
Still.... WOW I would have considered that if I know earlier... Who thought these days in 2015 you can get a house that nice for 1.3 in CHATSWOOD.....
The sellers have done extremely well. In 2009 I had a look in the area and you could pick up a house on 600m2+ of land for around $500k.
I feel that there's a lot of speculating developers or should I say wannabe developers buying big.
Same as, if you are not a beach person then why would you live near a beach? Each family's needs and priorities are different.
Also we need to keep in mind about the future directions (Gov policies etc.)
Wenty's median is 750Kish. This particular 1.3 mil is an outlier. We don't really know the real reason for this particular sale price. May be it is fine to argue over the median prices but arguing over this sort of one off sale is pointless. As Ms Ali mentioned, Darling Harbour unit & Wenty House are really apples & oranges. Why bother?
If 200k is considered low to be able to buy into Western Sydney...then we are clearly in bubble territory
1.1 for wentworthville .....
800 K for a house in Liverpool !!!!
WTF !!!!
this has to be getting close to the top.
Unless there has been underlying change in the market ( and I don't think so )
Mona Lisa / MsAli .
They've been talking about parramatta as a second CBD for a long time . We go there on a regular basis as our accountant is there .
I haven't seen a fundamental change in the area last thirty years apart from some new office and apartment blocks.
At some stage people will be buying places out there for cheaper than they are selling at the moment .
This is really where
The Hype is kicking in ...
Once it get to this stage , the end is inevitable .... it's just a matter of how long .
IMHO , any one who buys out west at this stage is off in La La land
BTW , are you going to turn up to Skaters next meeting . Every one was asking where you two were ...
Cliff
800 K for a house in Liverpool !!!!
WTF !!!!
this has to be getting close to the top.
Unless there has been underlying change in the market ( and I don't think so )
Mona Lisa / MsAli .
They've been talking about parramatta as a second CBD for a long time . We go there on a regular basis as our accountant is there .
I haven't seen a fundamental change in the area last thirty years apart from some new office and apartment blocks.
At some stage people will be buying places out there for cheaper than they are selling at the moment .
This is really where
The Hype is kicking in ...
Once it get to this stage , the end is inevitable .... it's just a matter of how long .
IMHO , any one who buys out west at this stage is off in La La land
BTW , are you going to turn up to Skaters next meeting . Every one was asking where you two were ...
Cliff
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