See Change and Richard Feynman . let's hype the sydney market thread .

Jacque said:
Hi Cliff

Great for the vendor
Yes as quoted by Fairfax $90K over reserve
About 12 registered but larger crowd
Interestingly I did chat to some peeved off buyers afterwards grumbling about underquoting and talking to OFT.... guide was $550K+
Click to expand...

Is this in Lane cove Burns bay road that was sold for 740 ?
 
Jacque said:
Hi Cliff

Great for the vendor
Yes as quoted by Fairfax $90K over reserve
About 12 registered but larger crowd
Interestingly I did chat to some peeved off buyers afterwards grumbling about underquoting and talking to OFT.... guide was $550K+
Click to expand...

Surely everyone should know by now that the bidders should just add 100K at least against the guide price?
 
windyzz said:
That's so cheap.. area, should be around 2+
Click to expand...

Yes I agree. Auctioneer was very offputting IMO. Shows there are still good deals even in Sydney's crazy market.

WattleIdo said:
That's a pretty busy road.
Click to expand...

Mmmm ... This property is at the end of the road where the waterfront is. That end is very quiet as it leads to nowhere and only used by local residents.

monalisa said:
Now this is crazy:

http://www.realestate.com.au/property-house-nsw-seven+hills-119391111

$752k for a 588 sqm block with a clad house in Seven Hills.

Two years ago these were going for $500k! 50% gain!!!
Click to expand...

It's medium density zoning. A developer will probably put townhouses on it. I think it's the flow on from blacktown ... Seven hills still seems good value compared to some suburbs further out
 
cadence said:
It's medium density zoning. A developer will probably put townhouses on it. I think it's the flow on from blacktown ... Seven hills still seems good value compared to some suburbs further out
Click to expand...

How can the developer put townhouses on 588sqm? Unless they own surrounding lots
 
cadence said:
Mmmm ... This property is at the end of the road where the waterfront is. That end is very quiet as it leads to nowhere and only used by local residents.
Click to expand...

:rolleyes: I was looking at the wrong property. I thought it was in Hassall St Parramatta. Totally different. :)
Beautiful area there at Tennyson Point.
 
Property Snapshot
For the week to 18th April
Number Listed Auctions: 737
Number Reported Auctions: 599
Sold: 552
Withdrawn: 27
% Cleared: 88%
Total Sales: $509,657,857
Median: $1,025,000

Surely the median can't stay this high for too long at this clearance rate? :confused:
 
Gockie said:
Property Snapshot
For the week to 18th April
Number Listed Auctions: 737
Number Reported Auctions: 599
Sold: 552
Withdrawn: 27
% Cleared: 88%
Total Sales: $509,657,857
Median: $1,025,000

Surely the median can't stay this high for too long at this clearance rate? :confused:
Click to expand...

Unlikely that clearance rates will hold with winter (probable slowdown) on the way. Median sale price though.. I would not be surprised to see it remain in the 7-figures for the future (aside from a few outliers).

But who knows. If vendors/agents are pricing stuff right and we continue to have low volumes with a looming rate cut, the sky's the limit.
 
Glad I'm not an aspiring home buyer in Sydney right now. Must be so disheartening after hearing of this weekends' 'record clearance rates'. I know it has been hard on FHB's in Sydney this past 24 months but the last 3 months has been pretty astonishing.

I don't know what will cool sydney. For instance I thought that all the stock dumping on Green Square would at least help stablise prices in the 5km radius of there, but every tower that has come on pre-sale has been bought out as soon as its released, and at astonishing prices each time.

I wonder what happens when the bank Val's at construction completion value them for less than was paid, in two years time?
 
C-mac said:
Glad I'm not an aspiring home buyer in Sydney right now. Must be so disheartening after hearing of this weekends' 'record clearance rates'. I know it has been hard on FHB's in Sydney this past 24 months but the last 3 months has been pretty astonishing.

I don't know what will cool sydney. For instance I thought that all the stock dumping on Green Square would at least help stablise prices in the 5km radius of there, but every tower that has come on pre-sale has been bought out as soon as its released, and at astonishing prices each time.

I wonder what happens when the bank Val's at construction completion value them for less than was paid, in two years time?
Click to expand...

The new tower in Greensquare OVO 2 bedroom with carspace starting from 1 millions is almost all sold out....

How is it possible? THere's never ending demand.......
http://news.domain.com.au/domain/re...en-squares-tallest-tower-20150418-1mntm0.html

http://news.domain.com.au/domain/pr...bers-to-innercity-living-20150416-1mkr8b.html.
It appeared that next generation want to live closer to the city and preferred Apartment living, as the next generation does not like spending their weekend doing gardening or cleaning the house. Everything is about close to proximity and amenities.
 
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