From: Jay Hunter
Hi,
People talk about median house/unit prices for cities (syd/melb/bris etc... and even specific suburbs within each city... To me the median price mean jack sh.t!! Really it comes down to LOCATION but what is a location worth???. Here is an example, and really just a prompt for more detailed discussion/comments and experiences to be shared.
I know the Northern Beaches area's of sydney quite well (still learning a heap)... lets take an example:
A specific suburb/village in Sydney:
a 2 bed unit in Manly (with all things being close to equal - consideration building age/condition, Strata details - sinking funds, parking, unit size etc) seems to have a very broad price range!! It could range anywhere from about 450,000 to 950,000 (+ or - in the current market) depending on where in Manly it is located. I'm using manly as an example but it would be true in every suburb i imagine.
So this shows that Manly is not just manly, Dee why not just dee why, and suburb X not just suburb X... it comes down to where the prop is located in each of these suburbs and the outlook it has. So the question is:
How much do people value things like:
Views to -
+ Beach/Ocean
+ Park
+ Golf Course
+ Bushland
+ Mountains
...etc
Proximity to -
+ Train/ferry/bus link
+ Schools
+ shops
...etc
Having said that, i would be interested if people see it the same way and if people could contribute real life examples of price differences where they may see all things being equal except outlook/ specific location.
Hope we can generate some discussion.
jay
Hi,
People talk about median house/unit prices for cities (syd/melb/bris etc... and even specific suburbs within each city... To me the median price mean jack sh.t!! Really it comes down to LOCATION but what is a location worth???. Here is an example, and really just a prompt for more detailed discussion/comments and experiences to be shared.
I know the Northern Beaches area's of sydney quite well (still learning a heap)... lets take an example:
A specific suburb/village in Sydney:
a 2 bed unit in Manly (with all things being close to equal - consideration building age/condition, Strata details - sinking funds, parking, unit size etc) seems to have a very broad price range!! It could range anywhere from about 450,000 to 950,000 (+ or - in the current market) depending on where in Manly it is located. I'm using manly as an example but it would be true in every suburb i imagine.
So this shows that Manly is not just manly, Dee why not just dee why, and suburb X not just suburb X... it comes down to where the prop is located in each of these suburbs and the outlook it has. So the question is:
How much do people value things like:
Views to -
+ Beach/Ocean
+ Park
+ Golf Course
+ Bushland
+ Mountains
...etc
Proximity to -
+ Train/ferry/bus link
+ Schools
+ shops
...etc
Having said that, i would be interested if people see it the same way and if people could contribute real life examples of price differences where they may see all things being equal except outlook/ specific location.
Hope we can generate some discussion.
jay
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