Just as I predicted! The neighbouring newest suburb The Ponds within 5 minutes drive from our home released 9 units of completed new homes in recent weeks and they were snapped up immediately!
The SMH reported that some people even camped there overnight just to be first in the queue.
I've always told hubby that if we had the financial means, we should really get an investment property near our area as it seems to be a much sought after place with all the new land releases and the fact that the biggest shopping complex in the southern hemisphere is being built in Rouse Hill must be pushing up the demand for housing nearby.
Unfortunately I do not think my FIL would be interested to live in Sydney, otherwise we would strongly encourage them to build a new home in one of these new neighbouring suburbs because I foresee in the very near future, it would be close to impossible to buy a new 4 bedroom single storey home here without forking out close to or at least half a million dollars and if double storey, forget about half a million, it'll be at least AU$650-700k (based on the offers my neighbours have been getting eventhough they didn't advertise to sell and the price of new houses recently sold for, in our estate).
And to think that the real estate frenzy has cooled? Certainly not so where we live! It is still too crazy! No wonder we get RE leaflets/calendars in the mailbox often, offering free valuation of homes (which we might just take up once our garden is completely done). One RE office even took the trouble to snap a photo of every house and stuck them to their calendar and popped them into the respective homes' mailboxes - hoping to entice us to sell up!
The SMH reported that some people even camped there overnight just to be first in the queue.
I've always told hubby that if we had the financial means, we should really get an investment property near our area as it seems to be a much sought after place with all the new land releases and the fact that the biggest shopping complex in the southern hemisphere is being built in Rouse Hill must be pushing up the demand for housing nearby.
Unfortunately I do not think my FIL would be interested to live in Sydney, otherwise we would strongly encourage them to build a new home in one of these new neighbouring suburbs because I foresee in the very near future, it would be close to impossible to buy a new 4 bedroom single storey home here without forking out close to or at least half a million dollars and if double storey, forget about half a million, it'll be at least AU$650-700k (based on the offers my neighbours have been getting eventhough they didn't advertise to sell and the price of new houses recently sold for, in our estate).
And to think that the real estate frenzy has cooled? Certainly not so where we live! It is still too crazy! No wonder we get RE leaflets/calendars in the mailbox often, offering free valuation of homes (which we might just take up once our garden is completely done). One RE office even took the trouble to snap a photo of every house and stuck them to their calendar and popped them into the respective homes' mailboxes - hoping to entice us to sell up!
