Wonder how many if these were brand new properties that people overpaid in the first place. I don't look at medians too much, they don't tell a true story.
I bought a 4 bedroom 2 bathroom double garage property in munno para west as an investment in October last year and paid under 270. I lived in Andrews Farm a few years ago (worked on the Northern Expressway) and we had signed a contract to build in Andrews Farm back in the hay day when a house and land package was up around 400 (I think it was a few years ago) but we backed out.
People in Sydey can't believe that you can buy a near new 4 bed house so cheaply.
Honestly I don't really understand the stigma around the area we lived there for years and had less problems there than in some more expensive parts of NSW we have lived. It was an hour to Adelaide by train if you wanted to go there, which we didn't, because the same **** is available at several shopping centres a short distance away .
I am confident that in the long run the munno para west house will be a good investment, it's already cash positive by a long way taking into account depreciation.