See Change and Richard Feynman . let's hype the sydney market thread .
- Thread starter see_change
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City-fringe studio sells for less than half the Sydney median apartment price in Woolloomooloo
Read further to see the size of it
Read further to see the size of it
Damn! Is that what I've been doing with all the joints I've ever bought...making others rich??I got wealthy buy other people bidding up houses that I already owned
Cliff
Those greedy, rich sellers!
Not necessarily , You might have been a greedy investor picking up a bargain by taking advantage of someone who over extended themselves
Cliff
Get ready for the spring surge of auctions !!!!
Get ready for the spring surge of auctions
Sydney's spring auction market is on the rise with 620 properties going under the hammer this Saturday and more than 700 the next.
The market's showing no signs of struggling despite the influx of stock: last weekend's auction clearance rate was a "boom-like" 83.3 per cent and it was the sixth week in a row that more than 80 per cent of the properties on offer sold.
This is the longest sequence of 80-per cent clearance rates recorded in Sydney since early April and reflects a market that has stepped up a gear over winter.
And what's particularly interesting is the rising number of prestige auction sales - last weekend 28 properties sold for more than $2 million. This compared with 21 the previous weekend.
September is set to continue the record breaking mode with surging listings on the back of record sales numbers
Cliff
Get ready for the spring surge of auctions
Sydney's spring auction market is on the rise with 620 properties going under the hammer this Saturday and more than 700 the next.
The market's showing no signs of struggling despite the influx of stock: last weekend's auction clearance rate was a "boom-like" 83.3 per cent and it was the sixth week in a row that more than 80 per cent of the properties on offer sold.
This is the longest sequence of 80-per cent clearance rates recorded in Sydney since early April and reflects a market that has stepped up a gear over winter.
And what's particularly interesting is the rising number of prestige auction sales - last weekend 28 properties sold for more than $2 million. This compared with 21 the previous weekend.
September is set to continue the record breaking mode with surging listings on the back of record sales numbers
Cliff
True.Not necessarily , You might have been a greedy investor picking up a bargain by taking advantage of someone who over extended themselves
Cliff
But, I have never offered a price so low that it was a joke; knowing they were a desperate seller. I've offered low - circa 5-10% and these get accepted. I don't think anyone was crying too much
Of course; the percent of properties sold to greedy, immoral investors overall is how many?
Folks overextending themselves and having to sell cheaper than they would like to has been happening for ever. Have had to do it myself.
Everyone can win, and everyone can lose - it's totally up to yourself how the result goes.
Each generation blames the previous ones for making too much money, ripping off the poor (sounds like a socialist mindset to me) and shutting them out of the market, and each generation (and the media - who are largely socialist) seems to blame investors..
Investors try to offer low; that's true..(so how come we are forcing up the prices? It doesn't match up - especially when you see the percentage of investors which are buyers.
The seller doesn't have to accept the low investor offer - they can wait until a normal buyer offers them more.
My first IP; I watched it for 4 months until I offered. There was plenty of time for a silly emotional buyer to jump in and pay more than me....oh; there weren't any.
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Don't silly emotional buyers only want something when they see (or hear) another silly emotional buyer wants (usually on first open weekend) and not something that has been sitting stale on the market for four months?
Sorta yes, and/or to follow their mate; Mr.Jones.
But, the ones which sit on the market for that long are usually there for that long for a reason....too expensive, bad design/condition/location etc.
I once went to an auction over at Somers Beach - which had for some reason started to become really popular and "hot".
does nothing for me at all, but there you go.One of my mates decided he wanted to try and buy a holday house down this way, and picked there.
So, we looked at a few places, and picked two.
The one he really wanted went for $373k which was $78k over the expected sale price.
It was ridiculous; it was an old 50's dump of a thing that needed lots of love.
Mr.Jones was alive and well on that one.
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Anyone head out to opens today?
Buyer and stock numbers are up in the inner west.
Wouldn't be too surprised if we just hit 83% again. If so, it'll demonstrate increased demand since stock numbers have been rising consistently.
Buyer and stock numbers are up in the inner west.
Wouldn't be too surprised if we just hit 83% again. If so, it'll demonstrate increased demand since stock numbers have been rising consistently.
we went out this afternoon ( worked this morning ... )
I have linked to this property somewhere recently . The agent ( who I've known out side his role as an agent for over ten years ) expected it to sell for around 1.35 . Probably 7-8 bidders
Sold for 1,515,000 . Effectively land value.
Recently , a smaller blocked sold for 1.26.
At the Ray White Auction in Turramurra , originally there were 10 properties due to be sold . 5 sold prior to Auction , four on the day and one passed in on a vendors of 1.3 . I thought that would be a really good price for the property ( for a buyer ) watching what happened I got the feeling there were several buyers , but no one wanted to start off and they wanted to try and negotiate afterwards .
It's further away from the station than the Evelyn St property , but larger block . Also Would be selling for land Value . Will be surprised if it's not sold within the week and possibly later on the weekend.
The agents at the properties we saw said the market has been strong for the last three months ( uniform opinion ) . None reported a recent increase , but my perception was there were more people at open houses today and the Auction was standing room out in to the corridor . Probably 6-7 times more people than the last Ray White Turramurra Auction we went to .
Cliff
) I have linked to this property somewhere recently . The agent ( who I've known out side his role as an agent for over ten years ) expected it to sell for around 1.35 . Probably 7-8 bidders
Sold for 1,515,000 . Effectively land value.
Recently , a smaller blocked sold for 1.26.
At the Ray White Auction in Turramurra , originally there were 10 properties due to be sold . 5 sold prior to Auction , four on the day and one passed in on a vendors of 1.3 . I thought that would be a really good price for the property ( for a buyer ) watching what happened I got the feeling there were several buyers , but no one wanted to start off and they wanted to try and negotiate afterwards .
It's further away from the station than the Evelyn St property , but larger block . Also Would be selling for land Value . Will be surprised if it's not sold within the week and possibly later on the weekend.
The agents at the properties we saw said the market has been strong for the last three months ( uniform opinion ) . None reported a recent increase , but my perception was there were more people at open houses today and the Auction was standing room out in to the corridor . Probably 6-7 times more people than the last Ray White Turramurra Auction we went to .
Cliff
Clearance rate up to 84 % Median $998,000.00
I was a bit hesitant as to what today would bring with a reasonable jump in the number of auctions today but the buyers powered on in the a further increase in clearance rates up to 84 %
Sydney Clearance rates increased to 84 % today with increased turnover
Property Snapshot
Number Listed Auctions: 621
Number Reported Auctions: 443
Sold: 386
Withdrawn: 17
% Cleared: 84 %
Total Sales: $387,314,147
Median: $998,000
Cliff
I was a bit hesitant as to what today would bring with a reasonable jump in the number of auctions today but the buyers powered on in the a further increase in clearance rates up to 84 %
Sydney Clearance rates increased to 84 % today with increased turnover
Property Snapshot
Number Listed Auctions: 621
Number Reported Auctions: 443
Sold: 386
Withdrawn: 17
% Cleared: 84 %
Total Sales: $387,314,147
Median: $998,000
Cliff
Will be interesting to see what this place goes for .
The title is accurate , but the position , WOW
Down side ( for some ) is the place is heritage listed . one wonders if it might catch fire at some stage , and it would be important to know what restrictions of redevelopment there are
I don't know the Balmain market , but the quoted price of over 1.8 seems slightly under what I'd think
Won't be surprised if we see a headline of " Crumbling Shack goes 500,000 above expectations " ...
Cliff
Well , 1.8 was a bit on the conservative side ... but I was wrong , not 500 over reserve ...
2.68 , 830 K over the reserve
Cliff
I whipped these up.
Clearance rates, median sale prices and stock volumes all trending up.
Clearance rates, median sale prices and stock volumes all trending up.
Large numbers at Western Sydney cheapies. Lots of FHB's and high prices.
But .... Skater ...if we get too many of those it might drag the median down
Cliff
But .... Skater ...if we get too many of those it might drag the median down
Cliff
Whether you like it or not, you are going to get them.
The part you will like is the price. Yes much lower than the median, but a whole lot higher than a couple of years ago.
Whether you like it or not, you are going to get them.
The part you will like is the price. Yes much lower than the median, but a whole lot higher than a couple of years ago.
So , what at the selling for ? From what I can see a nicely done 3 bedder is around 370 - 380
Though this one in Letho at 500 , even though it has a potential granny flat
Cliff
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