Sydney Market at top - calling a severe correction in 2018-2019

[ej89]

Are you kidding me?...places like Newtown ..Marrickville are now bluechip suburbs.

As for Pazzamatta and the Hills becoming the centre of the universe I can't see this happening...sure they will become better solid upper middle class but thats it.

Let me guess...you come from the subcontinent don't you?

Haha Sash those places will never become the centre, but with those places all improving most people don't have to go to the city to get the same entertainment and schools and jobs.. Sydney is huge. It's about time they improved the west..

And to me, Parramatta is always going to be parramatta, and wenty is always gonna be a craphole haha but with Parra, Livo and Penrith going alright and Blacktown being central as well most people will find the city to be useless, congested and a pain in the backside..

Those places you named are nice but there is absolutely no correlation with proximity to cbd being a more desirable location.. Redfern is a dump and look at its proximity.

 

[ej89]

I think you will find the increase is much larger lets test my theory.see property below.if someone has RP Data please feel free to confirm the figures...i feel that this one would have been worth around 600k in 2011...it is now on the market for 950k plus will probably crack a million. That represents a 58% gain.....

http://www.realestate.com.au/property-townhouse-nsw-eastwood-119688927

Under contract. Could be worth asking the agent what its worth..if a 3 bed house in canley heights is selling for $1m I think that villa is a steal for its location.. Love those areas..

 

[ej89]

Ponds is a badly located, soulless subdivision lacking infrastructure that feels like you're in something out of a generic american movie.

http://m.news.domain.com.au/domain/...-myth-of-a-suburban-oasis-20130330-2h059.html

Kellyvilles claim to fame is that it once had the world's largest display home village.

We clearly like very different things.

Haha what a load of crap that article is..anything to knock it. 4 schools in the estate. A decent shopping centre.. A lake.. Sporting facilities..new rail link going in.. Hospital going in closeby in next few years..Rouse Hill 2 seconds away with its mega outdoor shops..bars and restaurants closeby..

There's a reason there are single storey houses on 350sqm selling for $1m.. People love it.. Glad I got in there are 620k and not 800k. Surprisingly for a place that was meant to have a lot of FHB there is only 5% apparently..

Wyndyzz the way I view apartments is that there's unlimited space in the air and limited space on the ground.. They will be in demand depending on location.. Some silly buggers are paying more for a unit at Cudgegong station than I am for my house across the street..

 

[ej89]

Ay Sash you're not too far from here..
Do you know why Chatswood West is cheaper than its surrounds? People couldve picked up a house there for $1m end of last year..

 

[Deltaberry]

As always the forum is at its frenziest during boom times.

 

[Rolo]

Ponds is a badly located, soulless subdivision lacking infrastructure that feels like you're in something out of a generic american movie.

http://m.news.domain.com.au/domain/...-myth-of-a-suburban-oasis-20130330-2h059.html

Kellyvilles claim to fame is that it once had the world's largest display home village.

We clearly like very different things.

I used to think exactly the same thing, however after years of living in a shoebox in London and having hardly any deposit when returning home I bit the bullet and drove out to Bunya. My missus, not being from Australia, absolutely loved it, and i loved the $30K the government threw at me.

living in Bunya for the last couple of years i can now see the appeal. there are A LOT of families of various backgrounds who don't care about the beach or living close to the CBD. they just want a nice big shiny house in a friendly neighborhood close enough to their family, infrastructure and amenities. i think they dont mind too much about the travel as long as they can get to work in a reasonable time. i know it doesnt bother me too much traveling an hour to and from work and the train station at Doonside is always chockers.

They dont want large backyards because of the maintenance and they dont really need them because the estates have a small kids park and bbq area on every corner, so they just build bigger houses. i actually think my 100sq metre back yard might work against me if we decide to sell one day

i was surprised at how many ppl bought to invest in Bunya at the time, however the way land prices have increased they are laughing all the way to the bank now. any house for sale in the estate is going like hotcakes.

I now see the appeal of these new estates. there is a large group of ppl who are queuing up to move in, and i think it's going to get larger they way we open up our doors to migrants.

 

[wombat777]

Ponds is a badly located, soulless subdivision lacking infrastructure that feels like you're in something out of a generic american movie.

http://m.news.domain.com.au/domain/...-myth-of-a-suburban-oasis-20130330-2h059.html

Kellyvilles claim to fame is that it once had the world's largest display home village.

We clearly like very different things.

I agree. Some parts of The Ponds are soulless and relatively flat/boring. Like a newer version of Glenwood. It will improve once the street trees mature in 10-15 years time.

Access was quite bad during the early part of the development. That's improved with the widening and newer access from Schofields Road. Prior to that access was via Stanhope Gardens.

 

[thamask]

One issue with Box Hill though is the Pet Food Plant located on the ridge to the south-west of Windsor Road. The smell of rendered meat is not pleasant. I used to cycle past it regularly. When the wind is blowing in the wrong direction, the smell wafts into the older part of Rouse Hill near the Shell Service-station. Hopefully that will eventually be swallowed up by suburbia.

SOLD around xmas time.

 

[see_change]

Sanj,

But how come the ponds is now an expansive suburbs ?
The display homes in the Ponds build by McDonald Jones has been sold out in the first day and then rented for the next 4 years according to the sales woman.

This is so profitable suburbs when bought OTP.

John Henry

there's a sucker born every minute...

Places in the hills built during the last boom were mince meat in the last slump .

You totally over estimate the impact that the proposed infrastructure will have in the next slump .

in 6-7 years you will pick up places in Mt Druitt for lessthan they are selling now .

There will be pain in parramatta at some stage .

cliff

 

[kamchatsky]

John Henry

there's a sucker born every minute...

Places in the hills built during the last boom were mince meat in the last slump .

You totally over estimate the impact that the proposed infrastructure will have in the next slump .

in 6-7 years you will pick up places in Mt Druitt for lessthan they are selling now .

There will be pain in parramatta at some stage .

cliff

I have similar thinking as you Cliff, however, I think the whole Sydney will drop, not just the far outwest areas when the IR goes up a lot. Even blue chip suburbs will drop as people pay crazy prices for those suburbs right now.

However North West Rail Link will definitely help the Hills District though, especially now that the second harbour crossing is pretty much guaranteed now that the bill to sell/lease poles and wires passed the senate. It would be quick to go to city, and all those white collar hubs (Norwest, Macquarie Park, Chatswood, St Leonards).

 

[kamchatsky]

I agree. Some parts of The Ponds are soulless and relatively flat/boring. Like a newer version of Glenwood. It will improve once the street trees mature in 10-15 years time.

Access was quite bad during the early part of the development. That's improved with the widening and newer access from Schofields Road. Prior to that access was via Stanhope Gardens.

Hills District is like a car park at peak hours. With all those houses added daily M2 becomes a car park itself.

The kicker will be when NWRL gets commissioned in 2019, and second harbour crossing completes by 2024. It is a long way off but the funding is there.

Funny thing though right now a lot of people living at The Ponds and Rouse Hill drives to Schofields station to catch trains. That is the closest station they get right now.

 

[JohnHenry]

John Henry

there's a sucker born every minute...

Places in the hills built during the last boom were mince meat in the last slump .

You totally over estimate the impact that the proposed infrastructure will have in the next slump .

in 6-7 years you will pick up places in Mt Druitt for lessthan they are selling now .

There will be pain in parramatta at some stage .

cliff

Cliff,

Why is that there will be some problem in those are where new Infrastructure is being built there ?

if it is due to the Tunnel stacks like in Turrella suburb for M5, then yes I understand that part. But for Parramatta ? I cannot understand the reason for it becoming a slum

I've read this article from the trustworthy blog: http://www.realestate.com.au/blog/investor-hotspots-may-2015/

and that article was cited by most of the R/E agents

 

[jerrybee]

Cliff,

Why is that there will be some problem in those are where new Infrastructure is being built there ?

if it is due to the Tunnel stacks like in Turrella suburb for M5, then yes I understand that part. But for Parramatta ? I cannot understand the reason for it becoming a slum

I've read this article from the trustworthy blog: http://www.realestate.com.au/blog/investor-hotspots-may-2015/

and that article was cited by most of the R/E agents

I don't know how impartial that blog could be considering the website it's on.

 

[Deltaberry]

Don't think Parammata will become a slum, but it'll certainly fall in real terms from here. Top of the market has been seen in real terms.

 

[JohnHenry]

newly opened suburbs near the business park & growth center will always go up !!!

Don't think Parammata will become a slum, but it'll certainly fall in real terms from here. Top of the market has been seen in real terms.

Ah, so it may / potentially fall in terms of price for the apartment & units.
But not for a hous due to the land component.

I feel confused as to why the new suburb or satellite CBD with new infrastructure project can go down in terms of price ?

what about the newly opened place or suburbs in:

Northwest Growth Center: Schofields, Riverstone, Marsden Park, The Ponds
Southwest Growth Center: Edmondson Park, Oran Park, Jordan Springs, Airds

I cannot see or think why it would go down in terms of pricing for the next 5-10 years ?

ok, I might be bias but I've asked most of the builders, R/E agent and my friends who bought into those places, they are all agree that the next few years will only be up or sideways but not going down.

Any thoughts or comment would be greatly appreciated.

 

[skater]

Ah, so it may / potentially fall in terms of price for the apartment & units.
But not for a hous due to the land component.

I feel confused as to why the new suburb or satellite CBD with new infrastructure project can go down in terms of price ?

Of course you are confused. Every time someone says something, you believe what they say. Seriously! Not everyone you talk to is going to be right on this stuff.

what about the newly opened place or suburbs in:

Northwest Growth Center: Schofields, Riverstone, Marsden Park, The Ponds
Southwest Growth Center: Edmondson Park, Oran Park, Jordan Springs, Airds

OMG! You are like a broken record. Oh, and for the record, Jordan Springs is NOT Southwest. It is a suburb of Penrith, so if you are going to continually harp on about an area, at least get it right. PLUS Airds is NOT a new suburb. It is an old Housing Commission estate. Sure, they are selling new lots there, but it is hardly a new suburb.

ok, I might be bias but I've asked most of the builders, R/E agent and my friends who bought into those places, they are all agree that the next few years will only be up or sideways but not going down.

How about you start to form some ideas of your own & stop asking everyone else's opinion.

 

[qonyx_sydney]

Ah, so it may / potentially fall in terms of price for the apartment & units.
But not for a hous due to the land component.

I feel confused as to why the new suburb or satellite CBD with new infrastructure project can go down in terms of price ?

what about the newly opened place or suburbs in:

Northwest Growth Center: Schofields, Riverstone, Marsden Park, The Ponds
Southwest Growth Center: Edmondson Park, Oran Park, Jordan Springs, Airds

I cannot see or think why it would go down in terms of pricing for the next 5-10 years ?

ok, I might be bias but I've asked most of the builders, R/E agent and my friends who bought into those places, they are all agree that the next few years will only be up or sideways but not going down.

Any thoughts or comment would be greatly appreciated.

I live in the SW and just went for a drive around Leppington/Middleton Grange and there is "A LOT" of undeveloped land.

I think the risk is that if developers and councils get their act together and accelerate land release this has the potential of supply overtaking demand, in the same way that will happen to the high density units we are seeing all over the place.

This will provide some downward pressure to contain prices.

If you were going to by in these areas in the current market, i'd recommend buying in good locations with a level of scarcity and not on the fringes of the greenfield areas with nothing but roads and houses.

The types of places I would recommend are close to the proposed town centres and train stations and by close at a distance no more than 1.5km away. Alternatively if you can find a place overlooking a billabong, golf course, nature reserve, park - this is would also be recommended.

 

[sanj]

Of course you are confused. Every time someone says something, you believe what they say. Seriously! Not everyone you talk to is going to be right on this stuff.

OMG! You are like a broken record. Oh, and for the record, Jordan Springs is NOT Southwest. It is a suburb of Penrith, so if you are going to continually harp on about an area, at least get it right. PLUS Airds is NOT a new suburb. It is an old Housing Commission estate. Sure, they are selling new lots there, but it is hardly a new suburb.


How about you start to form some ideas of your own & stop asking everyone else's opinion.

Bad day at the office skater?

 

[skater]

Bad day at the office skater?

One of those days when you just can't stomach the rehashing of the same thing over & over & over again.

Now....where are all those "is it time for Frankston" threads?

 

[sanj]

One of those days when you just can't stomach the rehashing of the same thing over & over & over again.

Now....where are all those "is it time for Frankston" threads?

Fair eenough! Poor Frankston, always the bridesmaid; never the bride