Nearly $400k growth in single property since May!

[klassen]

Property in detail sold at auction for $1,015,000
http://www.realestate.com.au/property-house-nsw-hurstville-116869375

Owner is selling and wants $1,400,000
http://www.domain.com.au/property/for-sale/house/nsw/hurstville/?adid=2011452117&sp=11

Someone on here?
Even used the same photos as the old advertisement.

 

[almostthere]

Property in detail sold at auction for $1,015,000
http://www.realestate.com.au/property-house-nsw-hurstville-116869375

Owner is selling and wants $1,400,000
http://www.domain.com.au/property/for-sale/house/nsw/hurstville/?adid=2011452117&sp=11

Someone on here?
Even used the same photos as the old advertisement.

Crazy is all what I could say if it sells for anywhere near that price

 

[BayView]

The seller would need that to cover agent's fees, legal fees and stamp duty at purchase.

If it wasn't a PPoR there will be CGT on 100% of the gain too.

 

[Peter_Tersteeg]

Is it really growth, the previous seller being in distress and having to sell below market, or the current vendor having wishful thinking?

 

[see_change]

also , it hasn't sold at that price as of yet

Cliff

 

[StaceyQ]

Will be interesting to watch this sale.
$1.4M for a duplex is total crazy , in saying that, I wouldn't be surprise if it does sell at that price.

 

[MTR]

Has to be a done deal first.... SOLD.

In booming markets I can tell you this is not out of the realm of possibility, I have seen prices just continue to rise.

Lets see what it sells for

 

[Jacque]

Hi E

I hope you're well

I can't comment on the south as we don't know this part of town but, without knowing the circumstances of the previous sale (as others have alluded to it could have been undersold, distressed etc) it's difficult to know if the new price is concurrent with the market or not. Some big cg rates coming out this year for many Sydney suburbs (I had a recent one with a client whom we bought for in March- similar townhouse to theirs sold a few weeks ago for $860K and we paid $710K- a nice equity gain of c21% in just 5 mths) however so it's one to watch - let us know the outcome!

 

[Richard Feynman]

Up 38%.

Not too shabby.

 

[DDDKEFather]

I live in Sydney's south and know this area. I would be surprised if it sells for 1.4M, more like 1.2M-1.3M but this is still a nice little profit for such a short amount of time.(This is one hell of a monopoly game and that's all it is - I'm a player too)

It is true that apart from the last 18 months Sydney real estate has done little since late 2003, I think it still has some way to go.

When the steam runs out of the Sydney market people that have over extended themselves in this low interest rate environment had better wish that our economy holds up. It will be one hell of ride when and if things go pear shape. Be ready for some bargains.

 

[Deltaberry]

Not surprising. Market has ran a lot. I can probably sell a few of my things each for 30-50% more than what I paid for 12-18 months ago.

 

[JamesP]

Berwick>all

http://house.ksou.cn/p.php?q=Berwick&sta=vic&id=28013