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

[baby blue eyes]

Quote:
Originally Posted by Shadow View Post
Sydney Northern Beaches house prices rise 10% in three months!

http://news.domain.com.au/domain/rea...29-1mvpss.html

That's confirmed by my agent, my house bought in November would fetch over 10% now. That at least has covered the transaction costs of moving. It's a renovator so will be interesting seeing the final figures when we finish. Not intending to sell tho, maybe revalue and pull equity.

 

[see_change]

northern beaches , in particular upper beaches has been slow to take off . Lower northern beaches / manly Dee why - have been moving for 2-3 years .


Cliff

 

[kamchatsky]

Even at Hills there has been some major lift in house prices over last 2 months. Some are selling at "stupid" prices ....

 

[ej89]

Western Sydney aint slowing down at all. It's as heated as it was 6 months ago if not more heated. And with all the infrastructure and jobs being created I can't imagine it stopping anytime soon.. Go to some open homes today and you'll see how it is. I go every weekend all the wayfrom Penrith to Greystanes and out from liverpool to Campbelltown. I dont think ive been to an open home with less than 40 people in the last 3 months... Oh and crappy Riverstone has gone up from $1000/sqm of land to $1300/sqm in 10 weeks. It's nuts

 

[MsAli]

Hindsight is a beautiful thing. May 2012 a colleague bought a 600 odd sqm lot with an old house in Lidcombe for 725k with the other buyer giving up as 725k seemed like a big number. Today one sold for $1.511 mill for a similar sized lot and house.

 

[windyzz]

Clearance Rate is 89% in Sydney http://www.homepriceguide.com.au/saturday_auction_results/Sydney_Domain.pdf

Looked at auction in Lane cove for 2 bed unit... Prices is Unbelievable.. It has gone up so quick
http://www.domain.com.au/for-sale/3-553-mowbray-road-lane-cove-nsw-2066-2011898407 Sold for 790k

http://www.domain.com.au/for-sale/8-18-20-landers-road-lane-cove-nsw-2066-2011898464 - 44 years old apartment sold for 765k - rent is 550-580 per week

 

[Ace in the Hole]

Hindsight is a beautiful thing. May 2012 a colleague bought a 600 odd sqm lot with an old house in Lidcombe for 725k with the other buyer giving up as 725k seemed like a big number. Today one sold for $1.507 mill for a similar sized lot and house.

Same zoning?

 

[MsAli]

Same zoning?

Yep their house is in North Lidcome, hence a better location. Both in poor condition. Seems theirs was 20sqm smaller.

http://www.domain.com.au/property/for-sale/house/nsw/lidcombe/?adid=2011894928

December had a sale for $1.16m. This one sold for 1.511m, 30% growth in 4 months of 2015! That's an annualised return of 90%. Does this mean it may be touching 2.4m by year end? This has to stop somewhere?!

 

[see_change]

Yep their house is in North Lidcome, hence a better location. Both in poor condition. Seems theirs was 20sqm smaller.

http://www.domain.com.au/property/for-sale/house/nsw/lidcombe/?adid=2011894928

December had a sale for $1.16m. This one sold for 1.511m, 30% growth in 4 months of 2015! That's an annualised return of 90%. Does this mean it may be touching 2.4m by year end? This has to stop somewhere?!

Are these zone medium or High density ?

if not , 1.5 for a Standard house in Lidcombe is ...F...ing Crazy .

Cliff

 

[MsAli]

Are these zone medium or High density ?

if not , 1.5 for a Standard house in Lidcombe is ...F...ing Crazy .

Cliff

The ad doesn't say. .so believe its residential zoning

 

[Richard Feynman]

Will we hit 90%?

Lets see what happens on Tuesday.

 

[Ace in the Hole]

Well 2 doors down sold 12 months ago for 1.13mil, so it's believable...
http://www.realestate.com.au/property-house-nsw-lidcombe-116638651
Although 20 James st was a bigger block too.
So with the growth in the past 12 months, 1.5 is kind of about right, but why?
What is the attraction to Lidcombe?

edit - after more searching here's a couple more recent sales:
http://www.realestate.com.au/property-house-nsw-lidcombe-119504359
1.3m for a 488sqm block with a very ordinary house on it !

http://www.realestate.com.au/property-house-nsw-lidcombe-119344871
1.45mil for 577sqm corner block with old house, may be a development opportunity, but super high entry cost.

 

[Shadow]

Clearance Rate is 89% in Sydney http://www.homepriceguide.com.au/saturday_auction_results/Sydney_Domain.pdf

This is the highest ever preliminary Domain/APM clearance rate (although RPData recorded 91% last week, but Domain/APM was lower last week).

 

[MsAli]

Yeh it's rather shocking. From what my colleague said Lidcombe is very central for them with Olympic park close by for events, reasonably fast train to city and not too far from Parramatta...

 

[see_change]

Still , around 1.5 in Lidcombe , and not that far away in Yagoona , you're paying in the 8-900's .

We paid 1.15 in Turramurra 18 months ago and recently had it valued at 1.5 . for 800 M block , walk station , east side , 300 M2 full brick house .....

Cliff

 

[redwing]

Western Sydney aint slowing down at all. It's as heated as it was 6 months ago if not more heated. And with all the infrastructure and jobs being created I can't imagine it stopping anytime soon.. Go to some open homes today and you'll see how it is. I go every weekend all the wayfrom Penrith to Greystanes and out from liverpool to Campbelltown. I dont think ive been to an open home with less than 40 people in the last 3 months... Oh and crappy Riverstone has gone up from $1000/sqm of land to $1300/sqm in 10 weeks. It's nuts

Lets hope there's some re-gentrification of some of the older areas on the way

 

[propertymanic]

Still , around 1.5 in Lidcombe , and not that far away in Yagoona , you're paying in the 8-900's .

We paid 1.15 in Turramurra 18 months ago and recently had it valued at 1.5 . for 800 M block , walk station , east side , 300 M2 full brick house .....

Cliff

Driving pass my old fibro investment properties in bankstown area and thinking why aren't people buying bigger properties in nicer areas for a similar price. But my assumption is people out here don't want to move away from family.

 

[Phiber]

Wow crazy prices for this location!
As above, don't see why you would be putting that much money into this location when you can get a nicer area for the same money!
Sydney's market is really going gangbusters, when you see the above going one, one has to wonder whether we are reaching irrational exuberance?
Anyway, no signs of slowing down so far.

 

[MsAli]

http://www.realestate.com.au/property-house-nsw-mount+druitt-119484303

500sqm, clad home in Mount Druitt
$505k purchase, rent of $400pw (potentially).
4.11% rental yield...

What are people thinking?!

Edit...

Now look at this, 395k apartments sold in Mount Druitt and Toongabbie. This makes the Toongabbie purchase look much better:

http://www.realestate.com.au/property-apartment-nsw-toongabbie-105944555
http://www.realestate.com.au/property-unit-nsw-mount+druitt-119501383

 

[Highlygeared]

Well 2 doors down sold 12 months ago for 1.13mil, so it's believable...
http://www.realestate.com.au/property-house-nsw-lidcombe-116638651
Although 20 James st was a bigger block too.
So with the growth in the past 12 months, 1.5 is kind of about right, but why?
What is the attraction to Lidcombe?

edit - after more searching here's a couple more recent sales:
http://www.realestate.com.au/property-house-nsw-lidcombe-119504359
1.3m for a 488sqm block with a very ordinary house on it !

http://www.realestate.com.au/property-house-nsw-lidcombe-119344871
1.45mil for 577sqm corner block with old house, may be a development opportunity, but super high entry cost.

This is nuts. You can squeeze into a small, but decent terrace in Paddo/Woollahra for $1.5m, or a nice house in the Inner West. Got to be some development angle to it otherwise all this is gonna end badly for some punters. But seeing I'm heavily exposed to the Sydney market, can't say I'm unhappy about what's transpiring before my eyes.