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. hobo-jo

    hobo-jo Not a bear just a realist

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    Well I am just telling you what I would value it at. If the market was paying $1.4M and I could buy them for $500k each, then I would grab the street also.

    Looking at comparable rentals it would seem $750pw might be around the mark:

    http://www.realestateview.com.au/re...roperty-Details-rent-residential-8976398.html

    So maybe it's worth $780k at a 5% yield, but personally I would still not buy at that price, maybe I'd consider it for a 6% yield which is $650k & even then only if I'd thoroughly researched the area and thought rents would be sustainable at the current level in a downturn. As it is I don't know the area from a bar of soap, don't particularly like Melbourne as a city and am not likely to invest there in the near future.

    What do you say it's worth and why (ignoring current market value as a meaningful measure)?
     
  2. ej89

    ej89 Member

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  3. Brickbybrick

    Brickbybrick Member

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    I suspect there are just too many cash :rolleyes: buyers out there to be affected by pesky things like stricter lending criteria.

    Here's another ludicrous action result. Duplex (admittedly not that old and well presented; I inspected it) on a corner on a fairly busy road in Bexley.
    http://www.domain.com.au/2011952267
    Around 300k over the price guide and not much less than what some free standing 3br homes in the region.

    Something like this in the same suburb was better value.

    http://www.domain.com.au/2011938940
     
  4. see_change

    see_change Apprentice Timing Lord

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    83 %

    Clearance rate still maintaining at over 83 %

    Property Snapshot
    Number Listed Auctions: 691
    Number Reported Auctions: 572
    Sold: 498
    Withdrawn: 26
    % Cleared: 83 %
    Total Sales: $465,142,067
    Median $1,075,500

    Cliff
     
  5. hobo-jo

    hobo-jo Not a bear just a realist

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    Down, down, auction clearance rates are down.

    89%, 87%, 85%, 83%

    [​IMG]
     
  6. trinity168

    trinity168 Member

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  7. see_change

    see_change Apprentice Timing Lord

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    last year during winter Andrew Wilson appeared to do all he could to talk down the Sydney Market . We were lining up to sell our house , so I was following everything very closely.

    He seems to be clutching at straws with his latest commentry

    "A result below 85 per cent has become a bit unusual so this could be the first sign of a cooler winter market," said Domain Group senior economist Dr Andrew Wilson.

    Time will tell.

    Cliff
     
  8. see_change

    see_change Apprentice Timing Lord

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    KIrribilli ..

    To be honest ,that seems quit a good price for a car space in that area .

    can be very hard to find on street parking and there's a lot of expensive property in the area .

    Cliff
     
  9. Roosters

    Roosters Member

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    Coming into winter always drops. 83% quick the sky is falling!!!!
     
  10. WattleIdo

    WattleIdo Member

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    I find he usually gets it wrong. Seems to be a step behind the ones with their fingers on the pulse.
     
  11. Richard Feynman

    Richard Feynman Mortgage Broker

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    You mean it's winter?
     
  12. hobo-jo

    hobo-jo Not a bear just a realist

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    lol at those defending the clearance rate. 83% is still very strong.
     
  13. Richard Feynman

    Richard Feynman Mortgage Broker

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    Wait until we hit 79% and the world ends.
     
  14. ej89

    ej89 Member

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    How'd we go yesterday?
     
  15. Roosters

    Roosters Member

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    83% for Sydney.
     
  16. see_change

    see_change Apprentice Timing Lord

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  17. skater

    skater Capitalist

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    Nothing seems the same over there! Sob....sob...sob! :eek:
     
  18. WattleIdo

    WattleIdo Member

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    Come on back to the new site skater - everyone's over there. It's like an empty house here now. There are some differences but in general it's all the same. OK, it's not run by the Somers - hopefully they'll join up?Everyone else is over there.
    No more suggested avatars, promise.
     
  19. skater

    skater Capitalist

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    Awe thanks........I am over there too......but.....I'm old & don't like change. I find the new one hard to navigate and I don't like the layout, and.....and.....

    I know I'm whinging, and I know it's going to be great, and I know that Sim will be dedicated to making it a great resourse.....but it just feels different, and new, and strange. :eek:
     
  20. Rolf Latham

    Rolf Latham Member

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    Im telling your hubby

    ta

    rolf