Hi,
I am not familiar with Cherrybrook and would like to get some opinions. What I found is that it is leafy and quite area to live and suitable for family. There are good schools around and shopping is not that bad as it is close to Hill Center. However the public traffic is always problem.
I am wondering with the possible construction of NWRL, will this suburb experience some faster growth than the subs in upper north shore area like Hornsby? To me Hornsby has been established well and therefore there is unlikely to have above average growth.
Any thoughts of yours? BTW, how about Thornleigh?
Cheers
Chen Xu
Hi Chen,
Cherrybrook is a nice suburb but in my opinion I wouldnt buy an investment proeprty there. The houses are big, the blocks are pretty big, but I am not sure if there is much opportunity for sub division, development or value adding. I think the yields are low and you would be forking out nearly a million dollars for a low yielding property which could destroy your cash flow.
Cheers,
LukeHey,
I grew up there, family and friends still live there.
Will need large capital to start.
Area hasn't moved much, transportation is a problem.Always some small development around, perhaps that's a sign, however as far as I know the land was bought a long time ago and is greenfield (no-demolition required, just tree removal). Developers who are family friends made their money there about a decade ago.
A friend owns 3 properties there, however capital has depreciated, very low rental yields, they are struggling to keep the properties. There are a lot of properties for sale everytime i drive to visit my parents who still own a house there.
Most of the people i went to school with are the ones who are buying the apartments in Hornsby as they like the area yet it is the only affordable place nearby. None of us can actually afford to live in Cherrybrook right now.
I personally would put my $M elsewhere with much higher potential.
Then again, I haven't run the numbers there in a few years.Thank you very much all for your advice. I will go there to have a look this weekend.
NHG,
Do you happen to know someone who is planning to selling land/house? I am intested in land over 1000m2.
Cheers
Chen Xu
I'll check,
I think the largest land I personally am aware of is about 900m2.
That's my rents place and I don't think they would appreciate it being put on the market :p
You'd be looking at at least $700k (at one point the valuation was $800k+) and the earthworks cost would be astronomical it is not fit for dual properties.
Unless your going Dural way, Normanhurst, Thornleigh may have the 1000m2+ blocks.
NHG wrote:I'll check,I think the largest land I personally am aware of is about 900m2.
That's my rents place and I don't think they would appreciate it being put on the market :p
You'd be looking at at least $700k (at one point the valuation was $800k+) and the earthworks cost would be astronomical it is not fit for dual properties.
Unless your going Dural way, Normanhurst, Thornleigh may have the 1000m2+ blocks.
I am looking at place for Dual properties. Personally not like Thornleigh, unless it is actually a good place to buy.
Thanks a lot anyway.
Are you looking for an investment or to live?
Catalyst wrote:Are you looking for an investment or to live?I am looking for a place to live however I am hoping the property can still gain good capital growth in the long term say 5~10 years if I want to change it to an IP.
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