See Change and Richard Feynman . let's hype the sydney market thread .
- Thread starter see_change
- Start date
Lower north shore is hot but the move is made in the 1-3 mil mark. Houses that were 2 mil 2 years ago are selling for 3mil.
In fact prices have moved the most in Sydney on the lower north shore - 10.5% for the last quarter!
http://news.domain.com.au/domain/re...-house-price-by-december-20150502-1mxru2.html
I worked in Wentworthville for 10 years and I know that street and it is nothing more than the average suburbia. Not that close to shops or the train station. Well that is if you consider 15 minutes walk close which I do not. The vendors must be laughing.
Stuff like this should make my inner west IP's go up though.
Property Snapshot:
Number Listed Auctions: 738
Number Reported Auctions: 559
Sold: 514
Withdrawn:17
% Cleared: 89%
Total Sales: $486,070,200
Median:$1,015,000
In my area, townhouses and duplexes are now hitting the $1.3 mill mark.
need more sales to say it's a trend and not just a one off but it's crazy.... I have triple the land of the townhouse, and I thought my place would fetch $1.3 mill
Number Listed Auctions: 738
Number Reported Auctions: 559
Sold: 514
Withdrawn:17
% Cleared: 89%
Total Sales: $486,070,200
Median:$1,015,000
In my area, townhouses and duplexes are now hitting the $1.3 mill mark.
need more sales to say it's a trend and not just a one off but it's crazy.... I have triple the land of the townhouse, and I thought my place would fetch $1.3 millHi All,
Has been a while since I posted as some know I have been through a difficult time with marriage break up and my work injury, I have 2 properties left to sell, I had my first open home on my central coast home with 16 groups coming through so I feel confident offers will flow, my Mt Druitt property will be next selling offers over 420k and hopefully high 400s for this one as it has granny flat potential and garage has water and electricity.
My investing journey unfortunately will end in a few months as yes i will be left with a small amount of proceeds from all of my properties around 290k but I need to start again in my life and get myself back on my feet and hopefully can purchase a home to settle in on the central coast.On a good note I am well enough to work and have found a job that suits me, good luck to everyone on there journey in investing.
Macca446/
Has been a while since I posted as some know I have been through a difficult time with marriage break up and my work injury, I have 2 properties left to sell, I had my first open home on my central coast home with 16 groups coming through so I feel confident offers will flow, my Mt Druitt property will be next selling offers over 420k and hopefully high 400s for this one as it has granny flat potential and garage has water and electricity.
My investing journey unfortunately will end in a few months as yes i will be left with a small amount of proceeds from all of my properties around 290k but I need to start again in my life and get myself back on my feet and hopefully can purchase a home to settle in on the central coast.On a good note I am well enough to work and have found a job that suits me, good luck to everyone on there journey in investing.
Macca446/
Seven hills still looks underpriced to me compared to the adjacent suburbs
Sorry to hear Macca.
Good that the markets are doing well at the moment - our Mt Druitt PM told us that it is crazy atm, and it is almost a matter of stating a price and buyers will pay!
Good luck with it all.
Interesting! It seems things have been a lot different in the suburb I have looked at depending on whether looking at houses or units. Houses have moved a lot lot more than units. Although their hasn't been much of an increase in new units.
Units increases are half that of houses, this applies to all regions be it south west to north shore. OTP and new units are even worse as price increases are factored in to the OTP price and you could spend years breaking even at times.
Actually in Mt Druitt region, units have doubled, houses haven't
What suburbs are you referring to? Don't think that applies to all suburbs.
Sorry to hear about your difficult times Macca. Wishing you lots of luck for a great prices on both properties, and good luck in the new job.
Majority of the Suburb around 15-20km from CBD. I haven't seen unit prices gain as much as houses......
Bought a 2 bed unit early this year in Westmead for 525k, and it was originally purchased 5 years ago for 375k... that's 8% growth on average per annum.
Another 2 bed unit in Hurstville (my neighbour) was sold for 585k towards the mid-end 2013, mine currently been valued at ~650 last month that's 11% in 2 years (5-6% per annum)
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Ah ok. Sounded like you were referring to all of Sydney.
Yeah Mostly in Sydney... I know some suburb do experienced 10-15% growth, but not common. I think most units on average close to Sydney CBD has gone up around 8-10%, where if you compare houses in Sydney (i.e. Hills area, Inner West, Epping, etc) has gone MAD.... some grow 200k per year..... I don't know how sustainable this growth are for houses (As you can see yield for houses are in 2-2.5%), where units you're still getting 4-4.5% yield.
Even if you're owner occupier... If interest do shoot up back to normal 6-7%, how many of them can hold paying P&I for their home.....
Western Sydney, unit prices have doubled in 3-5 years (depending on when you bought it). Unless you think Sydney is only till inner west.
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