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

And this news out today too:

Green Square's tallest tower a hit as auction market soars.

smh said:
The sale of 221 of the 224 apartments in the tallest tower at the long-awaited Green Square Town Centre capped off a record-breaking weekend for Sydney property on the weekend.

By Sunday night, just three three-bedroom units in the upper levels of the 28-storey Ovo remained as the city clocked up its highest ever 88.2 per cent auction clearance rate.

smh said:
Another first home buyer couple, social media analyst Cheryl Looi, 29, and banker Jason Tan, 28, bought a two-bedder on level seven for $950,000. Mr Tan said he was on a working visa so wouldn't have qualified for the First Home Owner Grant anyway.

After saving for four years and watching prices continue to skyrocket, the FOMO factor (Fear of Missing Out) prompted them to jump in. "We just had to do something," Mr Tan said.

Some of the top sales included $850,000 for a one bedroom unit with no parking on level 24, $1.45 million for a two-bedder with a single car spot on the same level and $1.99 million for a two-bedder on level 28.

Investor John Chee, 27, an accountant, bought a south-east facing two-bedroom apartment on level 11 for "just over a mill", and hopes it will fetch more than $800 a week in rent when it's complete in 2018


Cheers,
Michael
 
I actually like OVO's design with full floor to ceiling windows. I won't mind living there myself but I just don't have $1M spare change.

The building is nice, but the area still pretty crap though! Still feels like industrial... for that money, i'll get one in the north shore, or lower north shore
 
The building is nice, but the area still pretty crap though! Still feels like industrial... for that money, i'll get one in the north shore, or lower north shore

I have this funny feeling a large number of those buying in OVO (and the other off the plan stuff around the areas destined for oversupply) have never been there and are just gobbling up the marketing "x km from cbd" "2 min to train" etc.
 
I have this funny feeling a large number of those buying in OVO (and the other off the plan stuff around the areas destined for oversupply) have never been there and are just gobbling up the marketing "x km from cbd" "2 min to train" etc.

Yeah i believed so too..... However some of my friend living around the area believed it will be the next Chatswood.... In 10 years time though
 
Wow, just keeps going up and up !
At this rate, it'll be over 100% in a few weeks time :)

Yep I can see that happening ;)

Successful bidder waiting for an hour then re auctioning :D

At the rate it's going up they might clear a nice profit and that would give 2 sales on the one property so a 200 % clearance rate :eek::p

Cliff
 
Wow !

So, on average, anyone with a house in the Lower North Shore made $180K capital gain in the January to March period only - tax free if it is a PPOR.

Nice one - keep on hyping, it seems to be working..
 
West is still growing, just not as fast as the LNS/UNS Beaches area according to statistics.

Hmmm...Have you been out and about? We're talking to local agents. You name the price and buyers will pay. Obviously compounding is greater where you hold a 1mill property versus a 300k property.
 
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