Browse Forums Real Estate 1 Oct 18, 2008 1:23 pm With first home owners grant doubling to $14,000 for existing properties for the next 8 months, have you guys seen any real estate price movements yet? I am just interested to see that house prices don't quickly run away again.
I had a look at a local real estate in Blacktown this morning and am glad to announce in the $270,000 to $400,000 price range, there are many houses in Blacktown / Quakers Hill / Marayong / Glendenning/ Dean Park to Plumpton area. For smaller budgets there are many houses in St Marys and Mt Druitt area at $205,000 level, some of them brick veneer. They are all popular with first home buyers in Sydney. The increase in the First Home Grant coinciding with the lowering of lenders' fixed rates by more than 1.5% and variable rates by 1.3% has made home loans more affordable than in more than a year. Re: Western Sydney Home Prices (First Home Buyers) 2Oct 19, 2008 6:47 am plenty of interest in an old house 3 doors down from where we are renting in mt druitt.
though lots of people think Mt Druitt has a bad reputation - some parts with high concentration of housing commission units are scary - but old Mt Druitt (Mt Druitt Village) is sleepy, quiet and crime free! Quakers Hill is a bit more pricey - more townhouses in the area - and people think of themselves as a bit higher class than Blacktown, Mt Druitt. Dean Park is nice and quiet, as is Glendenning. Plumpton is an interesting case - there is a reason that Plumpton has the highest rate of teen pregnancy in any suburb in Australia After 4 years - we're in! First Home in Western Sydney home loan 3Oct 19, 2008 2:05 pm I agree, all those suburbs are fine to live in. It's interesting to see that you know Mt Druitt, it has received such unfortunate publicity that people get the wrong idea about it. But recently, there has been such a change, people don't mind paying almost the same rent in Mt Druitt as they would for one in inner west.
I call the lower priced first home areas of Western Sydney the FIRST HOME BELT (the same line M7 follows) Prestons, Hoxton Park, Hinchinbrook, Green Valley, Rooty Hill / Mt Druitt, Plumpton / Oakhurst / Hassall Grove / Dean Park, Glendenning, Woodcroft, Marayong, Blacktown, Glenwood, Quakers Hill / Acacia Gardens, Parklea, Baulkham Hills, Stanhope Gardens, Kellyville Ridge). I have had many customers who bought their first home in all of these suburbs. They used to rent in the inner Sydney suburbs and Parramatta and didn't have any problems with their new suburb after moving in. The feedback they have is that their neighbours are people just like them; working in the City or Parramatta and wanting to live in a house with a back yard. Some of them are recent migrants to Australia and appreciate that they can have their own home with a back yard. New South Wales Office of State Revenue reports show that in the 8 year period from July 2000 to June 2008, most of the the top 20 suburbs for claiming First Home Owners Grant were those Sydney suburbs in the West and South West; Liverpool, Wentworthville, Blacktown, Mt Druitt, Quakers Hill, Baulkham Hills, Kellyville, Hornsby, Penrith, Parramatta, Hinchinbrook, and Glendenning. You can read more in the article at our web site (let me know if you can't find it) Re: Western Sydney Home Prices (First Home Buyers) 4Oct 19, 2008 2:42 pm We had the same pre-conceptions about Mt Druitt - but previously we lived in Riverwood - where there are similar elements - if you live away from the housing commissions - everyone is actually quite nice!
The Mt Druitt Village area is full of KDRs - a good way to tell what people are like is to look at their front yards - those that take care in their homes will have neat & tidy yards and never give you trouble! After 4 years - we're in! first home sydney home loans 5Oct 19, 2008 3:23 pm There are newly built homes for $325,000 in this area that we are talking about. You would receive the $21,000 grant (eligibility rules pending) and move in immediately, best of both worlds. You would actually have some (about $5,000) of the grant left over after the purchase for you to pay a lump sum into the mortgage, to park into your 100% offset account, upgrade your car or just go on a holiday.
And you save once more for buying a completed project because you don't have to pay interest for 8 months (about $14,000 worth of interest) on the land and construction loan while your plans are being approved and house being built while paying rent all along. Sydney first home prices / home loans for first home buyers 6Oct 21, 2008 1:40 am Great news for first home buyers
Housing clearance rates remained soft over the weekend in Melbourne and Sydney, Australian newspaper reported today. The increase in the first-home buyer's grant apparently didn't lead to an immediate increase in sales. I say this is great because, I am interested to see that Sydney home prices don't quickly run away again for first home buyers like it did when John Howard introduced the $7,000 and $14,000 grant 8 years ago. Apparently, Landcom are continuing to offer up to $16,000 worth of rebates on new house and land packages on top of the increased first home owner grants; up to $37,000 extra incentive to new buyers. first home buyer advice / Blacktown, Quakers Hill, Woodcoft 8Oct 23, 2008 3:09 pm ed. Don't forget Doonside as well in your searches. Sorry, I haven't mentioned Doonside but the $325,000 brand new town houses are actually in Woodcroft, award winning estate(technically Doonside). Now that the NSW government has declared that a brand new home that no one has lived in qualifies for the $21,000 first home owners grant, it beats building and the uncertainty of not knowing whether you can sign the building contract in time (you also save big on interest costs), if you wanted to make use of the extra $14000. Just an update after speaking to real estate agents and one sales manager for a major property developer selling house and land packages in Blacktown, Quakers Hill, Plumpton and Woodcroft. The sales (which would be eligible for the $21,000 as the blocks have council approved plans) have certainly not increased to a frantic levels. The increased first home owners grant has not impacted on prices of established properties either although vendors seem to think it will. So they are not listing their properties until there is upward momemtum. I think they'll wait a long time for that. By next March, I think confidence would have returned to first home buyers and with lower interest rates, there may in fact be a mini rush to lock in the boosted grant. No Deposit Home Loan, 100% home loan 9Nov 18, 2008 5:40 pm Reliable bank sources say 100% LVR home loans or no deposit home loans as they are commonly known are being discontinued by December this year.
That should keep the prices of suburban homes low as first home buyers in the suburbs have been the customer base for this type of home loan when it came out in a big way in 2006 and had in fact received a lot of interest in recent months. Sure we've had No Deposit home loans by St George since about 2000 but the LMI backed no deposit home loans had brought in a great variety in lenders, features and interest rates which we are likely to lose . What ever No Deposit home loan is left in the market place after December is highly likely to be losing some options as well, but you didn't hear that from me. Are we going back to the recent era when home buyers needed 10% deposit? One major bank lender has already gone back to that era; no longer taking applications for LVRs above 90%. Re: Western Sydney Home Prices (First Home Buyers) 10Dec 26, 2008 3:31 pm I brought my first home in st marys great place as you have good public transport there we sold moved to claremont meadows and then sold moved to cranebrook all great places to buy or buy first home sydney home loan advice, home loan tips, first home advice 11Jan 05, 2009 3:15 pm St Marys, Colyton, St Clair, Erskine Park, Minchinbury, Glenmore Park, Claremont Meadows, Orchard Hills; they are all popular suburbs for first home buyers in Western Sydney. It's common to find decent free standing homes with large lots (compared to current land offerings in The Ponds, Ropes Crossing, Woodcroft etc) in the $250,000 to $400,000 range. western sydney house prices affordable again? 12Jan 17, 2009 4:13 pm Australian Property Monitors economist Liam O'Hara said "Sydney will have nominal price falls of 10 per cent but it will depend on where you live because some suburbs will have price increases - mostly those that are the cheapest relative to other stock."
Mr O'Hara says outer suburbs in the west and south-west - where prices are less than $360,000 - are poised for strong growth, especially property close to trains, schools and shops. He says property in the city's west and south-west is 25 per cent cheaper than it was four years ago."Those areas are now as affordable as they were back in 1998," he says. http://www.smh.com.au/news/national/sydney-property-predictions-for-2009/2009/01/03/1230681809451.html?page=fullpage Re: sydney home loan advice, home loan tips, first home advi 13Jan 17, 2009 4:25 pm thlo St Marys, Colyton, St Clair, Erskine Park, Minchinbury, Glenmore Park, Claremont Meadows, Orchard Hills; they are all popular suburbs for first home buyers in Western Sydney. It's common to find decent free standing homes with large lots (compared to current land offerings in The Ponds, Ropes Crossing, Woodcroft etc) in the $250,000 to $400,000 range. The first home buyers have gone through ropes crossing and cleaned them out ... All there releases that can be developed and titled by june this year are all sold out bar a few odd shaped blocks . Re: Western Sydney Home Prices (First Home Buyers) 14Jan 17, 2009 4:28 pm Have you had any valuations yet on the land? Re: sydney home loan advice, home loan tips, first home advi 15Jan 17, 2009 4:36 pm da68za thlo St Marys, Colyton, St Clair, Erskine Park, Minchinbury, Glenmore Park, Claremont Meadows, Orchard Hills; they are all popular suburbs for first home buyers in Western Sydney. It's common to find decent free standing homes with large lots (compared to current land offerings in The Ponds, Ropes Crossing, Woodcroft etc) in the $250,000 to $400,000 range. The first home buyers have gone through ropes crossing and cleaned them out ... All there releases that can be developed and titled by june this year are all sold out bar a few odd shaped blocks . Same thing is happening in Melbourne's west. If it will be titled by June the land is being taken, odd shapes or areas with 300mm+ fall make a large portion of whats left. Re: Western Sydney Home Prices (First Home Buyers) 16Jan 17, 2009 4:40 pm hi zerosignal, i don't know Melbourne that well. Which suburbs make up western suburbs? Is that anything west of the airport? Re: Western Sydney Home Prices (First Home Buyers) 17Jan 17, 2009 4:52 pm thlo hi zerosignal, i don't know Melbourne that well. Which suburbs make up western suburbs? Is that anything west of the airport? No that would be more North than West I'd say. The western suburbs are much closer to the city centre than anywhere else that has vacant land (As close as 15kms direct line in some cases) The main Western growth areas would be: - Tarneit - Truganina - Williams Landing - Point Cook - Caroline Springs - Derrimut http://maps.google.com.au/maps?f=q&sour ... 27344&z=12 first home in western sydney, home loan centre sydney 19Jan 17, 2009 5:03 pm Zerosignal The main Western growth areas would be: - Tarneit - Truganina - Williams Landing - Point Cook - Caroline Springs - Derrimut thank you for that, now it makes sense. i take it rail service is a bit of a problem there. first home in western sydney, home loan centre sydney 20Jan 17, 2009 5:07 pm da68za thlo Have you had any valuations yet on the land? No, wont be borrowing for the land . Ok, but if you borrow for construction later, land value will be important. I suppose, land values will have gone up by then? that is if they have sold out all of Ropes Crossing. Hi all, We are looking to build a new two storey house in western Sydney. Can anyone recommend a smallish builder to go with? We are trying to stay away from the big… 0 12375 Hello, we can help you please get in contact 0421019219 thank you 3 32219 I’m restoring all my 40yr old windows and I want to install seals around the casements. I’ve sanded back and oiled the frames with sikkens. My plan is to box up inside… 0 6659 |