bummer!!! this makes it hard for the initial greet. However I often find that Investors pass first their Agent/Tenant directly to their Banker/Valuer thinking this If you want to be in control of your valuation, then YOUR contact is a must. At least when the valuation report is handed down, you can call Valuer and invoke a discussion "just clarify my understanding, the so and so...". If Valuer replies I can't talk to you, is another question, but at least you tried to be in control of your destiny.
West Sydney
- Thread starter MTR
- Start date
I spent the day out west today inspecting properties between $400k-$500k in Blacktown, Seven Hills and Quakers Hill.
Very busy with FHB scrambling to submit offers on the spot, quite amazing to watch.
For those more familiar with this area, what would be the smarter choice in terms of an IP with min 5% yield and good CG over the medium term? Low to mid $400k for a weatherboard reno in Blacktown, or mid to high $400k for a brick home in Quakers Hill with very little work required?
Very busy with FHB scrambling to submit offers on the spot, quite amazing to watch.
For those more familiar with this area, what would be the smarter choice in terms of an IP with min 5% yield and good CG over the medium term? Low to mid $400k for a weatherboard reno in Blacktown, or mid to high $400k for a brick home in Quakers Hill with very little work required?
Funny how the market can switch from "doom and gloom its dead" to "offers at the open house have to buy before I miss out" inside a few months.
I bought a new PPOR a couple of months ago and it settled 1.5 weeks ago. I was the only one at open home. During settlement the market has gone nuts and the agent reckons he could sell it for 30k more right now than I paid for it.
So with all the talk of a boom (thats how they described it on the news last night) in Sydney at the moment, does that make it a good time to invest there or is it a bad time to enter the market?
If this boom is driven by FHBs and low interest rates will it spread to the regional centres?
I note that many people say once an area is booming the smart investors have already moved on.
If this boom is driven by FHBs and low interest rates will it spread to the regional centres?
I note that many people say once an area is booming the smart investors have already moved on.
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If you havent bought in Sydney yet you have probably left it too late, anything at the lower end is just crazy. I got in a couple of months ago, I wouldnt dare try now. I think it will spread to regional areas too.
Ajax, don't just twinkle your toes on the waters edge, jump in bro. Fortune favours the brave lol (just joking).
Look , seriously, the way I see it, if the entry level for a house in Minchinbury/St Claire is around 400K and the entry level in around the Druitt is around 250K,then thats too big a gap IMO. The Druitt suburbs must have another 50K in them atm.
I might be bias coz I own property in the area but I feel my assumptions hold credit.
Look , seriously, the way I see it, if the entry level for a house in Minchinbury/St Claire is around 400K and the entry level in around the Druitt is around 250K,then thats too big a gap IMO. The Druitt suburbs must have another 50K in them atm.
I might be bias coz I own property in the area but I feel my assumptions hold credit.
Are you comparing apples for apples though in that assessment?
Entry level stock eg a 2br villa in Mt Druitt for 250k is a very different asset to a 3br standalone house on 600sqm in St Clair.
Whats a 3br brick veneer worth in Old Mt Druitt? 350k?
Dave, look my comparison is with a house in the Druitt suburbs of Shalvey, Bidwill, Letho etc on an average size block. Old Mount Druitt is more expensive as you know.
I know there wouldn't be many fibre houses in Minchinbury/St Claire so it may be hard to do a exact comparison. But I feel that a 150K (approx) price difference in the two areas is just too great. Don't see prices going down so the only way is up ie Druitt suburbs to go up.
I know there wouldn't be many fibre houses in Minchinbury/St Claire so it may be hard to do a exact comparison. But I feel that a 150K (approx) price difference in the two areas is just too great. Don't see prices going down so the only way is up ie Druitt suburbs to go up.
Sydney
Hiya
In yesterday's Investar seminar, Dr Andrew Wilson, senior economist says that at the present moment, 35% of all property investors are looking at NSW as we speak
Hiya
In yesterday's Investar seminar, Dr Andrew Wilson, senior economist says that at the present moment, 35% of all property investors are looking at NSW as we speak
Hiya
In yesterday's Investar seminar, Dr Andrew Wilson, senior economist says that at the present moment, 35% of all property investors are looking at NSW as we speak
For once, I will agree with an economist
Hi Prop
So would also be interested on your thoughts on Central Coast is this moving yet??
With West moving and hot competition it is sometimes good to locate an area which is starting to rise.
Your thoughts??
MTR
Yep you might be on the money there mate....
Nice to be in the market not looking to get in!
Yes, this is true.
I was ready to buy up in Syd again last July, but I had to make a choice as Perth was also running hot, this is my own backyard so I jumped into this market and it has paid off.
Perhaps it will be Melbs turn to start rising, I hope so, this is where I plan to develop next year.
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