Northern Beaches (of Sydney) Pads

[Croc Dundee]

I am looking to buy 2 X 2 bedder units on the northern beaches in the next 18months.

What do you guys think ? - I am hearing* a lot of "doom and gloom" about the top end in plam beach but not in the 500K unit zone

* but not seeing it

 

[Croc Dundee]

something like this

http://www.domain.com.au/Public/PropertyDetails.aspx?adid=2007528305#

brick = no concrete cancer, no lift = low strata walk to shops and main road buses (but not too close for noise factor)

 

[awesome wells]

Looks like a good choice to me. Bit concerned about the "$355+" though. Do they mean $360 or do they mean $500?

 

[Croc Dundee]

$355 means that I lowball at $300 and start talking from there. If they say no* there's always another one next week.

*and I will NOT feel embrassed in front of the REA submitting this offer to them in writing.

 

[awesome wells]

*and I will NOT feel embrassed in front of the REA submitting this offer to them in writing.

Nor should you. By law I'm pretty sure he has to show it to his client. Most likely he will just use it to help condition the vendor to lower the price. In this market there will always be a vendor who gets fed up and takes a low price. Despite the negativity of northern beaches I think it's a sound investment right now and for the future.

 

[Croc Dundee]

Nor should you. By law I'm pretty sure he has to show it to his client. Most likely he will just use it to help condition the vendor to lower the price. In this market there will always be a vendor who gets fed up and takes a low price. Despite the negativity of northern beaches I think it's a sound investment right now and for the future.

Thanks - the northern beaches hold great apeal to me. and out of 20 lowballs Iam sure to get 1 or 2 hits.

Not many people are prepared to admit this but the great "boogey monster" about Lower priced (sub 400K) Sydney unit living is "scumbags"

Thats right - welfare sucking losers with their wayne swan christmas bonus dragging down the quality of life whole suburbs. I am looking at the Northern Beaches as a part of my scumbag minimisation policy "SMP"

 

[handyandy]

something like this

http://www.domain.com.au/Public/PropertyDetails.aspx?adid=2007528305#

brick = no concrete cancer, no lift = low strata walk to shops and main road buses (but not too close for noise factor)

Unfortunately brick 'does not =' no concrete cancer

The concrete cancer normally referred too is in the slabs and balconies of brick unit buildings. Some examples from as repair mod of the web

http://www.dapcor.com.au/services/spalling_concrete.htm

Any building can have this spalling happen, it does not have to be near the coast. Generally its as a result of steel reo not having been placed correctly and ending up to close to the surface allowing oxygenation to happen.

The building you used as an example seems to be in good condition. A telling sign is at the edge of balconies where rod ends show the first sign of spalling.

Cheers

 

[PrimeCommercial]

Has anyone looked into this development in Balgowlah by Stockland

I noticed it on the inside cover (or there abouts) of the latest YPI Mag. Usually I flip right over these ads but for some reason I read this one.

 

[asdf]

Has anyone looked into this development in Balgowlah by Stockland

I noticed it on the inside cover (or there abouts) of the latest YPI Mag. Usually I flip right over these ads but for some reason I read this one.

Yeah I think its coming along very well. Can easily see the scaffolding from Condamine St heading into the Burnt Bridge Creek overpass. Got a call from Sales rep few months back for inspection but never got around to checking it out. Heard its well bid, even in this environment. I'm guessing a few downsizers paying cash. Rate Stockland developments, they did an excellent job to the one in Cammeray Square. But not sure if you'll be grabbing a bargain, except on screwing down a re-sale.

 

[RumpledElf]

I love the word 'spalling'. Back in the days when I was a wee sweet teen in Architecture school before I realised I can't make artsy fartsy houses that won't stand up and dropped out to be a computer nerd (these days I make cities on the computer), I believe that 'spalling' was the one scrabble word I took away with me.

Thats right - welfare sucking losers with their wayne swan christmas bonus dragging down the quality of life whole suburbs. I am looking at the Northern Beaches as a part of my scumbag minimisation policy "SMP"

Careful, or I'll arrange to have my neighbours, their 4 dogs, 20 cats, 8 live-in mates, 10 wrecked cars and 4 motorbikes move into the apartment next to yours. Or you could just buy them a unit outright and move into the house next to mine? It has a very pretty bright pink fence

You'd appreciate my problem more if you saw my house on Google Earth. Its surrounded by vast tracts of nothing except ONE small house full of motorcycling bogans, 6 metres away. *sigh*

 

[Croc Dundee]

You'd appreciate my problem more if you saw my house on Google Earth. Its surrounded by vast tracts of nothing except ONE small house full of motorcycling bogans, 6 metres away. *sigh*

And your taxes pay for them to be there

 

[Shadow]

I am looking to buy 2 X 2 bedder units on the northern beaches in the next 18months.

What do you guys think ? - I am hearing* a lot of "doom and gloom" about the top end in plam beach but not in the 500K unit zone

* but not seeing it

Hi Croc,

Northern Beaches top end (above $2M) is taking a bit of a battering, probably down around 15%, but the median and lower end is steady or rising. The top end only accounts for a very small number of sales - it is a very small sector of the total Northern Beaches market. I have posted some commentary about the Palm Beach and Northern Beaches market in the blog below.

http://www.businessspectator.com.au/bs.nsf/Article/Palm-Beachthe-Suburb-for-Sale-$pd20090105-MYTM6?OpenDocument&src=is

According to Residex, the Northern Beaches overall is up +9% over the year to September.

Cheers,

Shadow.

 

[Croc Dundee]

Thanks Shadow - the properties will be to give to my kids as a fallback position should they ever come across hard times. (divorce, job loss, other hardship)

I am happy (yes happy) to drop 30K p.a. * (pre neg gearing) in addition to the rental income into the repayments to make housing affordability and security a non-issue for them.

So if they get great 20 year capital appreciation (with accordant rent rises) - no worries the'll be positively geared sooner and my kids wont be locked out.

If they go no-where over a 20 year period (as some are suggesting) then the'll be able to afford something of their own and these will just be a bonus

I see it as a long term inter-generational lifestyle and security hedge (that i'm happy to pay for) than as "speculating" or a "get rich quick scheme - this is one of the benefits of housing investment over shares - If everything turns to crap at least your kids have a place to live for a few years to get back on their feet - they cant live in a share portfolio.

And if you put them in a testamentary trust they cant be taken in a divorce

* some people drop more than this much on 12 years private schooling

 

[RumpledElf]

Thats funny. We want to do the same thing - it'll be the next thing we start saving for after the current pair of houses is dealt with, although it could take us a few years.

Two small units very near central Adelaide for the rugrats, owned by some sort of trust. But primarily so they have somewhere secure tenure to rent when they go to uni in 10 and 16 years respectively

 

[Croc Dundee]

hardly evil specufestors are we?

I plan to keep them in my own name until death and then into a testamentary trust, this will provide the ultimate in security and tax advantages.

My kids will still be expected to work hard and buy their own places - its just as security / fallback and until they establish themselves (the first 7 years is the hardest)

 

[topcropper]

Not many people are prepared to admit this but the great "boogey monster" about Lower priced (sub 400K) Sydney unit living is "scumbags"

Thats right - welfare sucking losers with their wayne swan christmas bonus dragging down the quality of life whole suburbs. I am looking at the Northern Beaches as a part of my scumbag minimisation policy "SMP"

I think your having a go at us on this forum croc.


If not, then,
Surely your not so up yourself that you think people living in sub 400 k flats are scumbags?

If people living in sub 400 k flats in Sydney are scumbags, whats your definition of the people living in my local town in 150 k houses?

You should get right back onto your high horse and not venture into scumbag territory, as I would guess your the biggest scumbag of all.

See ya's.

 

[Croc Dundee]

I spent the first 20 something years of my life getting out of a place like this

http://www.smh.com.au/news/national...1231003971056.html?page=fullpage#contentSwap1

A volatile mix of alcohol, weapons and summer heat led to a violent brawl between two families at a public housing estate in south-west Sydney last night, police say.

One man was shot in the back, another in the buttocks, three were stabbed and two suffered head wounds, said police.

Seven men were taken to hospital after the midnight fight in a part of Rosemeadow, near Campbelltown, known by police as "the 3Ms".

------------------------------------------------

There is no way on earth me or my family are ever having anything to do with these types again. I'm not a snob mate - i've lived it and had enough thank you very much -

 

[Croc Dundee]

As I said somewhere above my property strategy is to always buy something I would be happy to live in myself - this has many benefits to me.

If it goes up great, if its positively geared great, if it stays flat or goes down and is negatively geared then I can always use it for my family.

 

[Red Car]

Ha! Croc, as someone who has been around the Northern Beaches most of my life I think you will be in for a bit of a shock if you think you are not going to run into "bogans" on the Northern Beaches. Its full of them! You wont find it a whole lot easier avoiding violence here than you will anywhere else. Plus you get the advantage of others coming to the beaches to join in the "fun". I think Manly was one of the most violent suburbs in Police stats last year. It can be pretty full on if you are in the wrong place at the wrong time.

 

[topcropper]

As I said somewhere above my property strategy is to always buy something I would be happy to live in myself - this has many benefits to me.
.

No 400 k flats for croc then. Too crappy and full of scumbags.

See ya's.