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Castle Hill: Did I miss out?
Topic Started: 27 Aug 2015, 12:06 AM (1,227 Views)
Did I miss out?
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https://m.realestate.com.au/property-apartment-nsw-castle+hill-120343933

Fhb looking for my first place, so I thought I'd look for a unit in castle Hill, a fair distance from the cbd.

I enquired about it and the real estate agent advised me the rental return would be 550-600 pw..

Did I miss out on a bargain or what?
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Loki
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Did I miss out?
27 Aug 2015, 12:06 AM
https://m.realestate.com.au/property-apartment-nsw-castle+hill-120343933

Fhb looking for my first place, so I thought I'd look for a unit in castle Hill, a fair distance from the cbd.

I enquired about it and the real estate agent advised me the rental return would be 550-600 pw..

Did I miss out on a bargain or what?
There has never been a better time to buy.

Hold off a bit though and you can probably get the gross rental return down below 2%.


“Talk sense to a fool and he calls you foolish.” - Euripides
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van
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I'd love to NG the shit out of that.
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jrsnr
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i live not too far from castle hill

of all the new apartment/unit developments that have sprung up around my local area over the last ten to fifteen years the resale value on these new builds is appalling, possibly related to developer contributions

probably want to consider too that these higher rise dev's have very high maintenance costs, so rent return needs to be decent

also sinking funds on these dev's needs to be ten years now too, maybe adding to maintenance costs

in my area at least you can pay an extra fifty-to-one hundred thousand and get a free standing, with free standing have much better development potential

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van
27 Aug 2015, 10:28 AM
I'd love to NG the shit out of that.
But I thought NG has zero affect on property prices with interest rates so low?

Thats the excuse we hear all the time as to why its still in place
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DragonGM
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Castle Hill has already had its gains. No upside there.
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Bardon
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DragonGM
29 Aug 2015, 12:01 AM
Castle Hill has already had its gains. No upside there.
We recently assisted a very senior guy and employee from Syria and his family into Australia. He has just bought in Castle Hill a 4/2/2 with pool for about $1.5m and I expected him to complain about prices. Then he told me that he was pro-investment, had made many land investments and had lost the whole lot in Syria and was starting again and that he didnt have a'view on price growth at the moment. He was a Christian by the way, I mention this because he told me over a beer.

On the other hand I have another colleague from the Mid-East that has been buying up house for cash like a man with no arms on a hands free phone in the Brisbane area and he does has a growth focus.
Edited by Bardon, 29 Aug 2015, 12:22 AM.
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