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

Discussion in 'Where to Buy' started by see_change, 1st Sep, 2014.

  1. XMW

    XMW Member

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  2. ej89

    ej89 Member

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  3. Gockie

    Gockie Life loving Big 4 Banker

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    Sold for 1.705m in my neighbourhood... need more comparables but just based off that sale i'll say my place is now roughly worth 1.6m.... which is 300k more than what I've been saying up until to this point in time... equivalent to more than 3 years salary gain in just 3 months :eek: :D
     

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  4. skater

    skater Capitalist

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    Popped into an open home on the way to get lunch yesterday. It's in Tregear, just around the corner from the one we're currently prepping. Nothing special! It's on a corner, and yes, you could subdivide it, but the costs of doing so isn't worth it IMHO. Brick 3 x 1 with a carport.

    The open ran from 12.30-1.00pm & we got there at 1.05pm and there was a line up of people still going in. I spoke to the agent & he had 20 offers in his hand, the highest at $430k, but had another who had given him an offer before they even saw it at $442k. He said he should be able to move them up to at least $450k.
     
  5. MsAli

    MsAli www.propertytwins.com.au

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    That's been the case for a while now (>12 months). To sell 12-15% over the asking price.
     
  6. charlieandkath

    charlieandkath Member

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    Hey Cliff, the last sentence of your post that got this thread started - how is your agenda going? Are you preparing to sell anything?
     
  7. somer_hut

    somer_hut Member

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  8. ej89

    ej89 Member

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    What the heck.. Now that'll give other owners hope of getting that price and they'll raise prices and someone will buy it and the crazy buying continues
     
  9. wombat777

    wombat777 Member

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    Wow! A place near my house just sold for $1.150 mill.

    http://www.realestate.com.au/property-house-nsw-rouse+hill-119756699

    This is $300k over my last valuation 2 months ago @ $850k, for a similar size and style of property with similar proximity to the town centre and train station under construction. I'm glad I bought my land and started the build when the market and the building industry was still quiet.
     
  10. monalisa

    monalisa Member

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    Nice house, but tiny block of land!
     
  11. monalisa

    monalisa Member

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    I was wondering if the blacktown block has some proposed zoning?
     
  12. ej89

    ej89 Member

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    Surely it does to get that price
     
  13. see_change

    see_change Apprentice Timing Lord

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    We sold our PPOR last Dec . Don't think we'll sell any more unless we get tired of all the current disputes in a block we own a unit in . We're sitting on a significant profit and could sell and pay off another IP which has a good return .

    At that stage I was certain that the market had further to go , however for us , we needed to move on .

    Part of the reason was to pay down non deductible debt .

    When we sold , we paid down our downsizer ( which we bought in late 2013 ) as well as our weekender .

    I was keen to buy more IP's this year , ( which we have just started doing - first one went unconditional last week ) and wanted to improve our cash flow and debt position before we did that , which we have done .

    About to make offers on a few more on monday ;)

    Cliff
     
  14. cadence

    cadence Member

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    That's a beautiful house but yes on smallish land akin to a duplex or large townhouse
    Similar price could buy something a lot closer to the city eg
    http://domain.com.au/2011800864

    Of course not everyone wants or needs to live close to the city

    Congrats wombat on the extra equity! Fast way to make 300k :D
     
  15. C-mac

    C-mac Member

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    Cliff, I think you mentioned on another thread that you stopped buying in sydney. Curious to know where this recent buy was, if you care to share? From memory you were eyeing off Brisbane? (Or was it Adelaide? Or a regional? My memory is shot, today!)
     
  16. wombat777

    wombat777 Member

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    Lol. When I bought my land, I was worried that I was too eager and paid 20k over market value. That was a good investment to secure the block.

    A large backyard was not a high priority. Proximity to the town centre and new train station was my main consideration for capital growth. Plus I like the quiet neighbourhood.
     
  17. monalisa

    monalisa Member

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    Over paying a tad to secure a property doesn't mean much in the long term.

    We overpaid $15k for one of our props in the rising sydney market... but by the time we settled, we were way ahead....and miles ahead now.
     
  18. see_change

    see_change Apprentice Timing Lord

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    Nope ..:D

    I don't think you have a problem with your memory . I just haven't said ;)

    Cliff
     
  19. cadence

    cadence Member

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    Went to watch an auction on the weekend

    A set of 4 almost identical townhouses (2/1/1) built about 15 years ago. Builder kept all of them.

    Just over 2 years ago he put one on the market with an agent a few suburbs away. About 15 people at auction that day. A few bids up to 585k. Vendor bid at 590k. Vendor was prepared to put it on market at 591k. No one bid. Passed in. I knew it was a good deal and made inquiries with bank but serviceability hit a wall and was not in a position to get a loan :mad:. 10 months later a local agent managed to sell it privately for 720k.

    Another one was on the market about 6 months ago, sold at auction for around 750k. About 20ppl there.

    The one on the weekend sold for 830k. Investor who lives in the area outbid first home buyers.

    He has one more left ... I wonder if or when he will sell it, and how much will it be then ...
     
  20. ej89

    ej89 Member

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    There's a bit of a trend i've picked up lately..Seeing some nice homes on tiny lots sell for good prices all across western Sydney, even higher than ones with larger land.. I see single storey houses in new suburbs around Rouse Hill selling for same/similar as double storeys which shows me times are changing..people are happy to live on small land as long as the house is nice and the location is great.. In saying that, that's a standard project home in rouse hill that sold for $1.15m.. I do find Rouse Hill to be one of the more desirable places in Western Sydney though.. Single storeys in The Ponds are selling for the same or more than double storeys.. Quite interesting.