What's with Campbelltown, nsw?

I was there too with 4 groups of investors. Probably saw me there, I was the one being smart a** with then open bid of the second one. I had to atleast place the bid, I knew we were shot duck soon as we started.

Just bought the other 3 in the surrounds for people in last couple of weeks.

Should rent for $230-240pw. The agent says $180pw, but same agent just leased one last week in same block less attractive for $230pw.

As for prices and market booming or not. The market dictates this, whats a good sign? Just ask the agents how they are going with listings at present and that sheds a clearer picture of where the market is heading.
 
Sorry, I think I'm not that up-to-date. Is it boom time already?

What I mean was same unit was purchased in 2006 for a bit over $170K, 3 years on, an investor was down on her luck and mortgagee took over and sold it for less than purchase price. Shouldn't it make people start to think that the unit is maybe overpriced?

Oh yes, so it is you, Nathan, I saw you in several other auctions in around the area :p I think I'll quit attending auctions for now. Market in the area of choice is too hot for my liking.
 
LOL,

Yeh I think I stood out, was wearing the Pink Fluro shirt with thongs :)

Market is pretty hot at present, but the bargains are definately still out there.
 
LOL,

Market is pretty hot at present, but the bargains are definately still out there.

Forgive the ignorance, but i must ask.....

when you are refering to the market being pretty hot, is it cause there are few "worhtwhile" properties around and lots of interested buyers? or is it something bad??

thanks beforehand for the clarification :eek:
 
Forgive the ignorance, but i must ask.....

when you are refering to the market being pretty hot, is it cause there are few "worhtwhile" properties around and lots of interested buyers? or is it something bad??

thanks beforehand for the clarification :eek:

Hot as in, there are lots of buyers, not enough properties, prices rising. However there are still bargains just need to act quickly once you find one.
 
What I mean was same unit was purchased in 2006 for a bit over $170K, 3 years on, an investor was down on her luck and mortgagee took over and sold it for less than purchase price. Shouldn't it make people start to think that the unit is maybe overpriced?

No, it should make them think it was over priced in 2006. She's not the only one either. The unit I bought 12 months ago sold for $30,000 less than what they'd bought it for at the height of the suburb's boom in 2004.

Corrections happen, people lose money. But this in part (combined with kitchen reno) why it's now worth considerably more than what I paid for it just 12 months later. I bought it in the first month the suburb had recorded positive growth in four years (disclaimer: I anticipated the bottom was near, but didn't know it had bottomed out until after the purchase was done. Unfortunately, I don't have any special power to predict such things...need to be exposed to more uranium or something that glows).

Cheers
Greg
 
LOL,

Yeh I think I stood out, was wearing the Pink Fluro shirt with thongs :)

Market is pretty hot at present, but the bargains are definately still out there.

Hot as in, there are lots of buyers, not enough properties, prices rising. However there are still bargains just need to act quickly once you find one.

Many thanks for clarifying this! We've only just started looking in this area and my first impression was just that..... but at the moment I'm one of those who watches and dosnt act......just trying to take in all the info possible as have only seen 4 properties.
 
I live in a suburb of Campbelltown.This analysis might sound simplistic but RP Data shows a population decline of 3% for the area.(Between '01 and 06). I think with the pouring of more infrastructure money happening at the moment we will see areas such as Lindesay st and such like move away from the old stigma.The center of Campbelltown IMO is as good as dead. Shops up and down Queen and Dumaresq st are still empty.. even the two dollar shops. Strata unit blocks look exactly the same as when they were built 30 years ago with little or no money spent on beautification. I'm actually hoping it WILL get better.
 
Strata unit blocks look exactly the same as when they were built 30 years ago with little or no money spent on beautification.

I actually looked at a block of flats on Dumaresq st recently and didn't like it. but it's not about the looks of a property.
For me it wasn't good value.
Campbelltown was cheap earlier in the year.
Now it's too late, prices have already moved and because of the increased demand and limited stock anyone who wants to secure a property will have to pay the full asking price
 
Hot as in, prices rising.
Load of crock!

11/40 PARKSIDE CRES $275,000 26/08/2009 $250,00020/06/2006
5/11 WARBY ST $142,000 15/08/2009 $135,000 08/07/2004
1/40 CORDEAUX ST $188,000 14/08/2009 $200,000 01/07/2004
1/2 MEREIL ST $281,500 17/07/2009 $285,000 23/11/2004
6/7 STURT ST $239,950 10/07/2009 $217,500 05/03/2006
4/49 STURT ST $190,000 24/06/2009 $165,000 26/04/2006
9/11 WARBY ST $160,000 25/05/2009 $147,000 04/09/2002
6/30 BROUGHTON ST $220,000 05/05/2009 $215,000 23/07/2003
7/2 MEREIL ST $285,000 27/04/2009 $223,500 22/03/2002
5/6 REDDALL ST $165,000 22/04/2009 $152,000 19/10/2007
5/2 MEREIL ST $268,000 03/04/2009 $214,000 13/03/2002
7/11 WARBY ST$160,000 01/04/2009 $140,000 27/09/2002

PARKHOLME CCT $330,000 16/10/2009
$360,000 23/10/2002

KANANGRA CRES $335,000 30/09/2009
$324,000 01/12/2003

WAMINDA AVE $295,500 30/09/2009
$280,000 07/06/2006

WAMINDA AVE $219,000 17/09/2009
$289,950 10/08/2004

GILMORE AVE $308,000 16/09/2009
$279,000 10/06/2003

As you can see, no boom here. but rents do seem to be rising (as are interest rates)


I'm surprised to hear from you BV, prices haven't gone & aint going anywhere from what I see.
----
edit
Here's a nice practical real example for all the local wannabe boomer valuers like Nathan:
29 OTHELLO AVE is for sale, how much is it worth and what is market price?

39 OTHELLO AVE $300,000 05/09/2003
27 OTHELLO AVE $300,000 04/08/2009
47 OTHELLO AVE $277,000 14/05/2009
17 OTHELLO AVE $260,000 16/04/2009
25 OTHELLO AVE $255,000 22/01/2007 25 OTHELLO AVE $273,000 25/08/2003
41 OTHELLO AVE $280,000 08/03/2005
31 OTHELLO AVE $295,000 08/10/2003
39 OTHELLO AVE $300,000 05/09/2003
Does this look like a boom?
 
Last edited:
I'm surprised to hear from you BV, prices haven't gone & aint going anywhere from what I see.
29 OTHELLO AVE is for sale, how much is it worth and what is market price?
27 OTHELLO AVE $300,000 04/08/2009
47 OTHELLO AVE $277,000 14/05/2009
17 OTHELLO AVE $260,000 16/04/2009
25 OTHELLO AVE $255,000 22/01/2007 25 OTHELLO AVE $273,000 25/08/2003
Does this look like a boom?

Don't be surprised,
if 47 OTHELLO was selling now it would be listing for $300K and would sell for $300K if not more.
I am not saying that it's impossible to find something of good value but it won't be easy
at entry level where everyone is looking
 
Load of crock!

11/40 PARKSIDE CRES $275,000 26/08/2009 $250,00020/06/2006
5/11 WARBY ST $142,000 15/08/2009 $135,000 08/07/2004
1/40 CORDEAUX ST $188,000 14/08/2009 $200,000 01/07/2004
1/2 MEREIL ST $281,500 17/07/2009 $285,000 23/11/2004
6/7 STURT ST $239,950 10/07/2009 $217,500 05/03/2006
4/49 STURT ST $190,000 24/06/2009 $165,000 26/04/2006
9/11 WARBY ST $160,000 25/05/2009 $147,000 04/09/2002
6/30 BROUGHTON ST $220,000 05/05/2009 $215,000 23/07/2003
7/2 MEREIL ST $285,000 27/04/2009 $223,500 22/03/2002
5/6 REDDALL ST $165,000 22/04/2009 $152,000 19/10/2007
5/2 MEREIL ST $268,000 03/04/2009 $214,000 13/03/2002
7/11 WARBY ST$160,000 01/04/2009 $140,000 27/09/2002




I'm surprised to hear from you BV, prices haven't gone & aint going anywhere from what I see.
----
edit
Here's a nice practical real example for all the local wannabe boomer valuers like Nathan:
29 OTHELLO AVE is for sale, how much is it worth and what is market price?

39 OTHELLO AVE $300,000 05/09/2003
27 OTHELLO AVE $300,000 04/08/2009
47 OTHELLO AVE $277,000 14/05/2009
17 OTHELLO AVE $260,000 16/04/2009
25 OTHELLO AVE $255,000 22/01/2007 25 OTHELLO AVE $273,000 25/08/2003
41 OTHELLO AVE $280,000 08/03/2005
31 OTHELLO AVE $295,000 08/10/2003
39 OTHELLO AVE $300,000 05/09/2003
Does this look like a boom?


Your a funny one Piston!

The market isnt moving?

Is that why Othello's sales figures look like this?

14/05/09 277,000
08/09/08 185,000

Prices havent moved and money isnt made in this market is it?
 
On one that i purchased near campbelltown made about 10% unrealised cap growth in the past 10 months.

From my watching the market, prices are definatly up and sales are higher then a few months ago
 
Your a funny one Piston!
The market isnt moving?
Is that why Othello's sales figures look like this?
14/05/09 277,000
08/09/08 185,000
Prices havent moved and money isnt made in this market is it?

Sure am! But what's funnier is all those who have been paying to own RE last 5 yrs.
The one sale was excluded as no valuer would use a one off which was likely a reno of some type of which the details are unknown. Maybe it was yours.
If anything that 277 sale put those places 23k below 2003 levels.
Sure one person may have done well, and all the others with the buy, hold & wait paradigm lost or made fairly slim returns.
And this with the FHBG, money given away, interest rates artificially kept low and inflation rising.
As the value of money diminuishes I would expect prices to rise (eventually), but the problem is there are other market forces deflating prices.

--
BV maybe a little over 300k depending on what the place is like.
But it's still not a "boom" that you people here keep refering to.

--
RH that's a great start, think of all those years you did'nt have to pay to own that piece of RE.

Just to make things clear, I've never preached don't buy RE, rather it's the best investment I know.
Only don't believe what your hear & read in the media, seminar or from those whose income depends on selling you some RE.
There is no boom out here except for those who want a commission.
If you think this is a boom, then you have never seen one.
I've seen 3, and while this aint the fourth yet, I do hope to see a 4th one day.


12-12-2004, 01:26 PM
Don't forget this is not the first "New era of low inflation". I'm not preaching doom & gloom, just be prepared.
 
Top