Western Sydney/Parramatta region market is stupidly crazy

[Truly Exotic]

Interesting

http://www.realestate.com.au/property-house-nsw-willmot-115395367?rsf=emailalert-propdetails

Come back for sale, it sold in April this year I think with an asking price for $165k, vendors were happy to accept $150k at the time, I didnt buy it even though I did offer,

now it would probably sell for $200k,
so $50k equity for doing nothing for 8 months,

very good move, unless it didnt sell and withdrawn at the time

 

[starter]

Bump, wondering how people on the ground view the market currently in these areas.

I haven't followed it closely the last few months as have moved my attention elsewhere but just had a quick look on realestate at the areas that I have my properties in (Guildford, St Marys and Mount Druitt) and it seems like things are still pretty hot with not much stock at the lower end and a lot of "under offer" listings.

 

[DaveM]

Interesting

http://www.realestate.com.au/property-house-nsw-willmot-115395367?rsf=emailalert-propdetails

Come back for sale, it sold in April this year I think with an asking price for $165k, vendors were happy to accept $150k at the time, I didnt buy it even though I did offer,

now it would probably sell for $200k,
so $50k equity for doing nothing for 8 months,

very good move, unless it didnt sell and withdrawn at the time

It sold for $205k LOL. Very astute

I bought a 3 bedder in Willmot start of 2013 for about that... and it had walls and a roof and everything!

 

[RetireRich101]

It sold for $205k LOL. Very astute

Surely he is buying based on land value. The house is beyond repairs.

 

[DaveM]

Land value in Willmot is around $140-150k

I'd say someone has been watchig too much The Block. As TE says, burnouts were selling for 140-160k last year. And a year ago I bought a 3 bedder a few streets away for that $ that was in good condition and already tenanted.

 

[RetireRich101]

funny is that property was never a HC, and house still get burnt down.

 

[skater]

funny is that property was never a HC, and house still get burnt down.

I think you will find that ALL the houses in Willmot were originally H/C. Just because it wasn't one when it got trashed doesn't mean it was NEVER one.

 

[RetireRich101]

I think you will find that ALL the houses in Willmot were originally H/C. Just because it wasn't one when it got trashed doesn't mean it was NEVER one.

I was surprised too, but this one had many owners over the years but none were HC.

 

[travelbug]

I was surprised too, but this one had many owners over the years but none were HC.

The first owner would have bought it from the HC. They used to give you the option of buying or renting back then.

 

[skater]

The first owner would have bought it from the HC. They used to give you the option of buying or renting back then.

Precisely!

 

[Edmond Dantes]

Precisely!

message acknowledged..

 

[skater]

Off topic.. you need to fix your FAQ page in skatepro:

FAQs
Question goes here
Question 2 goes here
Question 3 goes here

LOL! Oops!

 

[DaveM]

The ex DOH block of studios on the highway at St Marys are now renovated and on the market for over 200k each

http://www.realestate.com.au/property-unit-nsw-st+marys-116321995

Astute

 

[macca446]

The ex DOH block of studios on the highway at St Marys are now renovated and on the market for over 200k each

http://www.realestate.com.au/property-unit-nsw-st+marys-116321995

Astute

The block looks pretty good,try to bag one before the rest will be difficult though.

 

[C-mac]

I agree with others in this thread; Sydney is way too hot right now. Other states/markets is where aspiring investors should be looking. Sydney has performed well for those who bought around the 2010-2011 period.

 

[skater]

The ex DOH block of studios on the highway at St Marys are now renovated and on the market for over 200k each

http://www.realestate.com.au/property-unit-nsw-st+marys-116321995

Astute

Saw that!

I want to know how they pushed the Strata for that through Council. There's only space for around 8 or so cars, so where's the parking for the rest? There were other issues too, which eludes me at the moment.

 

[DaveM]

Most of the studios on GWH are now under contract, at more than I paid for a 2br villa 2 years ago

 

[impala67]

Added link to another P-matta thread and my post - re: University campus for up to 10,000 students in the Parramatta central business district..

http://somersoft.com/forums/showthread.php?p=1152953#post1152953

 

[skater]

Most of the studios on GWH are now under contract, at more than I paid for a 2br villa 2 years ago

That's only Stage 1, so that would be the two one beds at the front & maybe 4 studio's.

Crazy prices though!

 

[datto]

Also, noticed there is a new 7 level residential highrise in st marys (OTP at the momoment). Could this rvitalise businesss in St Marys?