I know nothing about this area, but I would be very concerned purchasing in areas/suburbs in the sticks, especially as Syd market has been going strong for the last 2 years, may well end up in tears.Is anyone else wondering how a young aged care worker is going to pay for an almost one million dollar house which is what it'll cost when finished? And why anyone in their right mind would even pay ~500k for a piece of land so far out?
I know people who have bought in similar areas in Melbourne and a few years down the track, they have struggled to sell their house for the build price.
As I have always said it depends on area. Apartments here are not doing very well in the inner-city as there are thousands of apartments that have been built, are being built, or have a permit to be build. Meanwhile houses in the prime areas myself and others invest in have continued to grow at rapid rates.Aaron
Is there still an oversupply and prices have continued to go south??
Yeah but that where is the slick marketing campaign in that! You need promotional material with smiling families riding push bikes and having picnics.Those one buying into ponds now will end up in tears, sooner than they think.
Just pure crazy. for Half million dollars, you can easily buy an existing house in Seven hills which has a major train station, as oppose to just a piece of land around 500 m2.
LOL a bit off topic, but I was catching the train home one night, there was this MASSIVELY long queue, probably 90-95% Asian...thought it was some sort of creditors meeting or cult members or something, I kid you not.People did that here in Melbourne for OTP apartments in Glen Waverley and Docklands and it didn't end well.
In the future , yepSimilar story will appear in newspaper in not so distant future. Anyone remember mortgagee possession street in Kellyville?
Sounds like what I experienced in Sydney when looking for OTP with CBRE. Hate them (well, their practice) with passion. They do that to build up pressure (people go around marking the unit they want).LOL a bit off topic, but I was catching the train home one night, there was this MASSIVELY long queue, probably 90-95% Asian...thought it was some sort of creditors meeting or cult members or something, I kid you not.
.... I 'dump' half a mil ppor apartment here with similar distance and will be living here for a bit... can't get OTP anything near this price nowadays for the same sizeOnly found out 2 weeks after it hit the papers - I could not for the life of me why you'd dump $350K min to buy an apartment about 20kms from the CBD...