Seven Hills, Lalor Park, Kings Park

[jmillar]

Hi All,

Helping a friend search for some investment properties at the moment. They are looking to purchase, renovate and pull out equity then hold the properties long-term. They would also consider building duplexes/villas but I believe you need at least 600sqm block to subdivide in Blacktown, otherwise they remain on one title? If buying something not suitable for subdivision, the plan would be to renovate and hold until an adjoining block becomes available.

There seems to be some potential for buying a 2 bedda, and adding another bedroom, bathroom and garage.

I realise there has been a lot of movement in the last 12 months but Seven Hills, Lalor Park and Kings Park still seem to be well-priced compared to surrounding areas and offer nice size blocks.

Just wondering if anyone has any input on these areas and any suggestions on what to look for?

Much appreciated

 

[baby blue eyes]

600 for corner block and there is always competition

1100 I think for battle axe, But the Lep is/ will be recently changed where the zone on the house also affects dual occ subdivision

 

[cenz]

How'd you go with your search jmillar? I too am looking around the sub 400 mark in SH, Lalor or QH.

I agree, prices still seem reasonable considering it's proximity to the other Hills suburbs and long-term potential.

 

[XMW]

Just keep an eye on those area you mentioned but don't jump in to buy. Over priced in my opinion (return for a typical house is around 4% if you are lucky).

 

[jmillar]

How'd you go with your search jmillar? I too am looking around the sub 400 mark in SH, Lalor or QH.

I agree, prices still seem reasonable considering it's proximity to the other Hills suburbs and long-term potential.

Hi cenz,

My friend didn't pursue the area any further. We had an offer of $410k accepted before auction on a nice one in Seven Hills but then the B&PI revealed there were termited so we pulled out and it sold the week after for $480k at auction.

We didn't want to get caught up buying at (or close to) the top of the cycle, with awful yields and no short-term growth prospects so we have given up on the area.

I would rather buy stuff where I can get short-term growth so I can recycle equity.

I do agree that they are still well-priced when compared to surrounding Hills areas so I think long term they are still nice.

Cheers