All Topics / Help Needed! / Kellyville Ridge and the Rouse Hill Town Centre

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  • Profile photo of Investor NewbyInvestor Newby
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    @investor-newby
    Join Date: 2007
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    Hi All,

    I am interested in purchasing an IP in Kellyville Ridge. I was wondering how much the Rouse Hill Town Centre will impact capital growth in the area. Is now a good time to buy? I have seen some off-plan units being advertised for approx. $345000 (2 bedroom) with settlement in approx 10 – 12 months.  Do these seem overpriced?  Would a unit be a good investment in the area in the current market?  Particularly because there appear to be very few Unit blocks in the area – therefore demand is likely to remain high- encouraging capital growth?? 

    This is my first IP – so any advice/suggestions would be much appreciated.

    Thanks.

    Profile photo of Investor NewbyInvestor Newby
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    Just moving this back to the top hoping someone has some feedback.

    Profile photo of tess85tess85
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    @tess85
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    sounds overpriced to me, considering its far location. with 345k, have you considered a 2 br unit in Sydney's inner west? there'll always be  demand in the inner suburbs…. (just my 2 cents )

    Profile photo of JONCHUJONCHU
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    @jonchu
    Join Date: 2004
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    Hi there, I have done a market analysis of the area, and I have gathered a lot of data on what things are selling for over there, by development, by area, lots, etc, etc.

     

    Feel free to give us a call if you want to have a chat about it. 0434 396 441

     

    Regards

    Profile photo of BalaBala
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    @bala
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    You cant go wrong with Rouse Hill, Kellyville Ridge, Glenwood suburbs at this moment – looks like a steep climb is imminent with Rouse Hill being the next CBD like Parramatta in the years to come. The T_Way is doing wonders, and there is a lot of infrastructure investments given that Sydney has to grow only one way, ie West! But having said this, "Units" in Rouse Hill dont sound like a good idea. You probably need to consider a house to do better, especially with dwelling to land component being very high in the lifestyle seeking western suburbs.

    Oh and one more thing, your comment about ""there appear to be very few Unit blocks in the area – therefore demand is likely to remain high- encouraging capital growth"" does not seem to fit the Economics of demand and supply.

    Well in the first place, there are few Unit blocks because Demand is LOW for Units. I know one block of Units being advertised for the last 15 months atleast in Kellyville ridge, and thats the only block of Units up there!

    Cheers,

    Profile photo of hschmidhschmid
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    @hschmid
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    sounds like  full 'retail' price to me.
    consider your 'wholesale' options and attract instant capital growth.
    Also improves the yield

    Profile photo of EveSydneyEveSydney
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    @evesydney
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    I agree with Bala in that those suburbs are poised for growth given the infrastructure and amenities. It's set to be like Parramatta of the Hills. I also agree with Bala that units are few reflecting the low demand in the area. I live in the Hills and majority of the population is families with children, and people here generally prefer houses. House prices in these suburbs are very high though.

    On buying "off the plan", the price tends to take into account potential capital growth anyway and you'll be relying on the market to do all the work for you. Having said that though, the local council is planning to make the area an education hub and so attracting students, young couples, who might rent a unit. But we're talking long term here. Have you considered if this is in line with your investing strategy?

    Profile photo of MasihMasih
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    @masih
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    Investor Newby wrote:
    Hi All,

    I am interested in purchasing an IP in Kellyville Ridge. I was wondering how much the Rouse Hill Town Centre will impact capital growth in the area. Is now a good time to buy? I have seen some off-plan units being advertised for approx. $345000 (2 bedroom) with settlement in approx 10 – 12 months.  Do these seem overpriced?  Would a unit be a good investment in the area in the current market?  Particularly because there appear to be very few Unit blocks in the area – therefore demand is likely to remain high- encouraging capital growth?? 

    This is my first IP – so any advice/suggestions would be much appreciated.

    Thanks.

    Those kind of areas are for families….big families usually who wanna live in big houses. I dont think units would be such a good idea. The prices are abit over the top. You can get brand new apartments in that price range or maybe abit more in Parramatta City.

    Profile photo of Michael4Michael4
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    @michael4
    Join Date: 2003
    Post Count: 70

    Hi investor newbie,

    I live in north parramatta and i can tell you that you can buy a decent townhouse or a unit in the north parramatta which is a better side or buy a unit in the centre that is older.

    I rather buy in parramatta then spend 350k+ to buy a unit in kellyville ridge!

    i will almost always recommend to buy a crap house on a big block in those areas so you will attrack the tanants quicker, you can renovate and make more appreciation in the long term and subdivide in the near future!

    cheers,

    michael

    Profile photo of MasihMasih
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    @masih
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    Michael4 wrote:
    i will almost always recommend to buy a crap house on a big block in those areas so you will attrack the tanants quicker, you can renovate and make more appreciation in the long term and subdivide in the near future!

    Michael I think you're giving abit of a risky advice here. First of all the house is crap….who wants to live in a crap house? Second it has a big land….double whammy! That means all their time spent mowing the lawn. Not attractive to tenants at all.

    While that kind of property would be good for future subdivision or redevelopment if it's bought with the purpose of doing that….doing a reno for a first time investor is a hard task. It's not always as easy as some TV shows make it look like. Budgeting and planning must be precise. Then you need to find the right people to do the reno. If you're gonna do it yourself then you need to have a fair idea of building. Alot can go wrong if not done properly.

    By the way I was at Parra today. We were inspecting some new projects. Not such a good day to be walking around Parra without an umbrella

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