Western Sydney/Parramatta region market is stupidly crazy

TMNT said:
$209k it sold for

geez I was close
Click to expand...

Wow amazing who ever thought the druitt housing market would be like this at the moment,when I purchased my 2 ips their in 2005 I just went for cashflow and knew in time I would get growth but slowly,I am more cashed up now and would like to buy more their but even when the homes were selling for 250k I could not bring myself to pay that type of money Dammmmmm.
Macca446
 
macca446 said:
Wow amazing who ever thought the druitt housing market would be like this at the moment,when I purchased my 2 ips their in 2005 I just went for cashflow and knew in time I would get growth but slowly,I am more cashed up now and would like to buy more their but even when the homes were selling for 250k I could not bring myself to pay that type of money Dammmmmm.
Macca446
Click to expand...

$209k purchase
+7k legals
+$40-50k renovation depending on roof

sell for $285-$290k,

$24k profit.....

its better then nothing, however, i wouldnt be comfortable making solittle on so much work and then relying on a hot market, which may or may not continue
 
Properties in The Hills are not on the market for anymore than a week. I'm looking at anywhere from Winston Hills to Kellyville Ridge, Old Toongabbie to Kings Langley. And this is with a huge supply of land coming on around The Ponds - Schofields - Kellyville
 
OU812 said:
Properties in The Hills are not on the market for anymore than a week. I'm looking at anywhere from Winston Hills to Kellyville Ridge, Old Toongabbie to Kings Langley. And this is with a huge supply of land coming on around The Ponds - Schofields - Kellyville
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mmm, interesting. Could this be because the properties you are referring to here are on the older larger blocks, while the new blocks are (much) smaller... You would think the land supply in the area would keep a lid on demand.
 
ChrisA1 said:
mmm, interesting. Could this be because the properties you are referring to here are on the older larger blocks, while the new blocks are (much) smaller... You would think the land supply in the area would keep a lid on demand.
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Blocks in my area are mainly 500-600sqm.

Properties selling within the first week at full asking price or very little discount. Who wants the hassle of building.
 
twobobsworth said:
Blocks in my area are mainly 500-600sqm.

Properties selling within the first week at full asking price or very little discount. Who wants the hassle of building.
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So very true for the majority of buyers in these areas. The north-west is undergoing a transformation and is also seen as one of the last areas of general affordability by home owners in Sydney who want a house on decent land. Demand is definitely outstripping supply for established property and new is also kicking along nicely.
 
Jacque said:
So very true for the majority of buyers in these areas. The north-west is undergoing a transformation and is also seen as one of the last areas of general affordability by home owners in Sydney who want a house on decent land. Demand is definitely outstripping supply for established property and new is also kicking along nicely.
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Hi Jacque,

Very insightful to hear you talk about these areas and in particular the Hills district which is really moving.

In relation to your particular comments into securing a decent land componant, what are your thoughts on the acreage market in NW Sydney particularly out towards Dural, Galston and Glenorie..?

Thanks Jacque,

Jack
 
JT7 said:
Hi Jacque,

Very insightful to hear you talk about these areas and in particular the Hills district which is really moving.

In relation to your particular comments into securing a decent land componant, what are your thoughts on the acreage market in NW Sydney particularly out towards Dural, Galston and Glenorie..?

Thanks Jacque,

Jack
Click to expand...

Hey Jack

Being in the market constantly provides us with an excellent view of what's happening on the ground- it's really the only definitive way to understand where we're at in any property cycle.

Interestingly, I made a comment on our FB page about this very topic acreage vs Castle Hill recently.... https://www.facebook.com/HouseSearch
(sorry but you'll need to scroll down to Oct 12 to see it- can't figure out how to link directly to this one comment!) I'm seeing good value currently given the whole land content scenario.

Naturally, I love acreage and so am a little biased here however when you're paying the same $$$ for 600sqm vs 20,000sqm for homes only 10-15mins further out it does seem like a no-brainer at times as to what is better value. Having said this, though, acreage living isn't for everyone and each to their own. Personally, I like open spaces and would rather sacrifice a larger newer home for something a little more "lived in" on a quieter block. Acreage market is picking up, though, particularly in the sub $1.5m bracket around Dural, Kenthurst, Annangrove etc which is no surprise really.
 
Jacque

Are you seeing much movement in the upper price bracket on the North Shore.

We've seen the market below 1.5 quite strong , interestingly West Pymble , has had a few strong sales , Rumour is that it's the first place people who are escaping from the inner west hit when they move to the north shore . Close so they can go back and visit their friends ,

Cliff
 
I think it was meant, first place to look at, when escaping from the West?

"Rumour is that it's the first place people who are escaping from the inner west, hit, when they move to the north shore . Close so they can go back and visit their friends ,
 
Jacque said:
Hey Jack

Being in the market constantly provides us with an excellent view of what's happening on the ground- it's really the only definitive way to understand where we're at in any property cycle.

Interestingly, I made a comment on our FB page about this very topic acreage vs Castle Hill recently.... https://www.facebook.com/HouseSearch
(sorry but you'll need to scroll down to Oct 12 to see it- can't figure out how to link directly to this one comment!) I'm seeing good value currently given the whole land content scenario.

Naturally, I love acreage and so am a little biased here however when you're paying the same $$$ for 600sqm vs 20,000sqm for homes only 10-15mins further out it does seem like a no-brainer at times as to what is better value. Having said this, though, acreage living isn't for everyone and each to their own. Personally, I like open spaces and would rather sacrifice a larger newer home for something a little more "lived in" on a quieter block. Acreage market is picking up, though, particularly in the sub $1.5m bracket around Dural, Kenthurst, Annangrove etc which is no surprise really.
Click to expand...

Hey Jacque,

thanks for the response.

Yes, I have to agree with you whole heartedly. I'm with you, it's a no brainer with acreage and value for the money. I see it as absolutely sensational value when you consider, and as you have so correctly described, for not a lot more than a McMansion in the Hills district you can purchase a 'lived in' house in peace and serenity.

No it's not for everyone but you are quite right Jacque... give me space, peace and quiet any day of the week and of course a good book or two.

Recently the Hornsby Shire Council asked land holders in Galston and Glenorie to participate in voicing their opinions on allowing owners to sub down to 1 acre lots....

They've completed a lot of road works out towards Glenorie and have just completed a new power station down Cattai Ridge Road and of course there is the Woolworths superstore which came to Glenorie about 3-4 years ago which is making the 8.55pm run up to the shops for a block of chocolate just to temping to pass up.....:p

I guess things may be changing and the rest of the world wants a slice of paradise :( I just keep telling people it's way way way too far out in the sticks.... :p
 
jeffb5ltr said:
I think it was meant, first place to look at, when escaping from the West?

"Rumour is that it's the first place people who are escaping from the inner west, hit, when they move to the north shore . Close so they can go back and visit their friends ,
Click to expand...

Yes .

it's the first place you hit ( get too ) when you go up ryde road towards the north shore . Obviously you could also go over the harbor bridge and hit north sydney , or go over gladesvilles bridge and hit ....

cliff
 
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