Is it Hot, or What?
- Thread starter skater
- Start date
Yeah, I didn't do it last time. We had one ready for sale & the bottom fell out of the market. Not making that mistake again.
Just curious when this 'last time' was that you mean? Do you mean the last peak 2002-03?
We recently sold one of our places in Sydney too. We were starting to get over-exposed to the Sydney market (particularly in the inner west) so sold the ex PPOR for CGT free gains rather than one of the IPs.
I'm glad we did it. Perhaps in the future I'd look back and wish I hadn't sold it, but I can sleep at night a bit better as I have gotten my Sydney exposure to a reasonable level. Now off to investigate other states
Smart agents working it well. Lack of stock, they will kill their mother for a house I am sure of it, they get desperate, its tough being an agent in boom times, believe it or not.
I am just like everyone else, I get emotional in hot markets, but I try to get in early stages, shoot down my competition, while they are worrying about paying an extra $5K, I give them $10K, I know I will make that one up within the next month. However, when its red hot ie Syd market today, you are perhaps behind the 8 ball, damn it.
I know Skater has a couple of nice properties she is selling, just give her an extra $80K and its yours, wont hit the market
Yes Skater did inspire me to sell as well. I did re-consider our options and decide to postpone selling until end of this year/early next year.
I also like you, get emotion and always think what if we bought syd instead of melb, brissy or adelaide. Even though melb, brissy and adel start to grow well, but as human you just re-questioning your self as part of learning process. At the end of the day I think as long as you draw close to your goal, you did the right thing
Yeah, sure thing.I know Skater has a couple of nice properties she is selling, just give her an extra $80K and its yours, wont hit the market
Yes, 2003. We did a reno & it took too long. Got it to market a couple of weeks too late & ended up keeping it.
Perth is hit and miss.
Development sites and new estates seem to be selling well.
In all of this though the more premium sites seem to lag a little longer. You can live in a nice house within 10km of the CBD for $700k still which seems good value IMO. They sell in a good timeframe, but don't sell for much over original asking price, if not under.
I think that there may be something brewing in Perth in regards to houses (not villas etc) within 15km of CBD. Considering Perth is what, the 2nd strongest economy in the country, our prices are a long way behind Sydney.
Mining boom may not be going so much anymore, but that is more the construction side of it. Still plenty of mining white collar workers doing well. Agriculture millionaires are retiring closer into the city but still want bigger homes.
Just my 2c, could be completely wrong, but we are selling a lot of homes currently and we deal in the $650k - $3m price bracket of construction and the owner is building a lot himself and holding for now and is predicting he will do well. He is far from an idiot IMO so I take what he says as sound advice.
Development sites and new estates seem to be selling well.
In all of this though the more premium sites seem to lag a little longer. You can live in a nice house within 10km of the CBD for $700k still which seems good value IMO. They sell in a good timeframe, but don't sell for much over original asking price, if not under.
I think that there may be something brewing in Perth in regards to houses (not villas etc) within 15km of CBD. Considering Perth is what, the 2nd strongest economy in the country, our prices are a long way behind Sydney.
Mining boom may not be going so much anymore, but that is more the construction side of it. Still plenty of mining white collar workers doing well. Agriculture millionaires are retiring closer into the city but still want bigger homes.
Just my 2c, could be completely wrong, but we are selling a lot of homes currently and we deal in the $650k - $3m price bracket of construction and the owner is building a lot himself and holding for now and is predicting he will do well. He is far from an idiot IMO so I take what he says as sound advice.
Is any part of Sydney NOT hot right now?
Curious to know if anybody's experienced areas which have not really shown much growth in recent times?
Possibly the top end, prestige market?
Curious to know if anybody's experienced areas which have not really shown much growth in recent times?
Possibly the top end, prestige market?
A quick cosmetic renovation can fix that
A quick cosmetic renovation can fix that
Nah! I'd say a structural reno for sure.
Newish townhouses in Rouse Hill were selling for $550k 2.5 years ago. Until recently, off the plan townhouses in Rouse Hill/Kellyville were on the market for around $800k.
Now this is quite amazing - 3 bedrooms. Under offer with a list price of $1,000,5000. Will be interesting to see what it actually sold for when those details become available.
http://www.domain.com.au/property/for-sale/house/nsw/rouse-hill/?adid=2011739961&sp=10
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